Legislative Session News Archive
Session News #19: Service credit purchase bill fails to win passage
Jun 9, 2015
House Bill 10 (Rep. Pearson) did not win passage yesterday in the full Senate. The legislation sought to allow TRSL members to purchase service credit for out-of-state, private school teaching service. In the House chamber, Senate Bill 16 (Sen. Guillory) passed with amendments. The bill, which makes technical corrections to Act 399 of 2014, now heads back to the Senate for concurrence with the House amendments. To view a comprehensive list ...
Session News #18: Update on COLA bill
Jun 8, 2015
House Bill 42 (Rep. Jones) was amended and passed in the Senate Finance Committee and on the Senate Floor. In its current form, the bill would authorize a COLA of up to 1.5% for eligible TRSL retirees and beneficiaries, starting July 1, 2016. The date change for the COLA took into account testimony from the Governor’s Office that paying two COLAs in a row would cause concerns for the State’s bond rating agencies. Eligible TRSL reti...
Session News #17: COLA bill heads to the Senate Finance Committee
Jun 3, 2015
Yesterday, Senate Bill 20 (Sen. Long) achieved concurrence in the full Senate, the final step before being sent to the governor for his signature. SB 20 restructures the state’s return-to-work law and adds to the categories of “retired teachers.” After a 12-month waiting period, individuals classified as “retired teachers” can collect both a retirement benefit and salary upon re-employment. The Senate also recommi...
Session News #16: Senate retirement advances cost-of-living increase bill
Jun 1, 2015
The Senate Retirement Committee today favorably reported House Bill 42 (Rep. Jones) as amended. HB 42 would provide a permanent benefit increase (also known as a COLA) to eligible retirees of the four state retirement systems. The COLA for eligible TRSL retirees would be 1.5%. The committee’s amendments do not allow funds to be set aside for COLAs from this year’s investment earnings. Therefore, no COLA should be anticipated ...