Legislative Update for April 29

The Senate Retirement Committee met Monday, April 28, 2014 and reported HB 38 favorably. Amendments adopted on the bill would make the age 62 retirement eligibility with five years of service applicable to new hires only on or after July 1, 2015, rather than the original date of July 1, 2014. HB 38, which excludes the Hazardous Duty Services Plan, will now move to the Senate Floor for consideration. The LASERS Board of Trustees supports this bill.

The House Retirement Committee is scheduled to meet Wednesday, April 30 and four bills are on the agenda that would impact LASERS if passed: 

• HB 30, sponsored by Representative Jones, provides a 1.5 percent COLA for eligible retirees, survivors, and beneficiaries. The LASERS Board of Trustees supports this bill.
• HB 34, by Representative Jones, provides a supplemental benefit increase (amount is to be determined) payable from the Experience Account. The LASERS Board of Trustees supports this bill.
• HB 84, by Representative Jackson, provides a supplemental benefit increase (amount is to be determined) payable from the Experience Account. The LASERS Board of Trustees supports this bill.
• HB 85, by Representative Jackson, provides a 1.5 percent COLA for eligible retirees, survivors, and beneficiaries. The LASERS Board of Trustees supports this bill.

Please note that meeting schedules are subject to change. Check the LASERS website daily for updates and for detailed information about proposed retirement legislation.