Legislative Session News Archive
Regular Session News #12: Bills to change retirement plans deferred
Apr 15, 2016
The House retirement committee met yesterday and the following bills affecting retirement plans were voluntarily deferred by sponsor Rep. Barry Ivey: House Bill 45 (Constitutional Amendment) was amended to clarify that benefits derived from the defined benefit plan of state retirement systems would retain their constitutional protections, but the guarantee of benefits would not necessarily be extended to any defined contribution plans cr...
Regular Session News#17: Bills affecting TRSL deferred
Apr 1, 2016
In the House retirement committee yesterday, the following bills that would have significantly changed the structure and authority of the TRSL Board of Trustees were voluntarily deferred by the sponsoring lawmaker, Rep. Barry Ivey. House Bill 48 (Ivey) would add five citizen trustees unaffiliated with TRSL to the TRSL Board to be chosen by the Senate president, House speaker, and legislative auditor. House Bill 917 (Ivey) would remove the i...
Regular Session News #18: House passes trio of bills necessary for July 1 COLA
Apr 1, 2016
The House yesterday unanimously passed three Senate bills that, taken together, allow payment of a 1.5% permanent benefit increase (also known as a COLA), on the first $60,000 of the retirement benefit to eligible TRSL retirees and beneficiaries on July 1. All three bills are sponsored by Sen. Barrow Peacock, chair of the Senate retirement committee. They are as follows: Senate Bill 2 authorizes payment of the 1.5% COLA and was contingen...
Regular Session News #8: COLA bill moves forward; tax-exempt status of TRSL benefits discussed
Apr 1, 2016
The Senate finance committee today reported favorably Senate Bill 2 (Peacock) as amended. The legislation would grant a 1.5% permanent benefit increase (also known as a COLA) on the first $60,000 of the retirement benefit to eligible TRSL retirees and beneficiaries. The amendment ties the legislation’s passage to other bills dealing with retirement system funding (Senate Bill 5 and Senate Bill 18), which are under consid...