Legislative Session News Archive
Regular Session News #15: Senate passes ORP bill
May 15, 2024
On Monday, the full Senate passed House Bill 31 (Rep. Frieberg), which would provide a window for active, contributing Optional Retirement Plan (ORP) participants to join the TRSL defined benefit plan. The ORP is a defined contribution retirement plan similar to a 401(k). The bill now goes to the governor for his consideration. If enacted, the legislation will do the following: For active, contribut...
Regular Session News #14: ORP and RTW bills await Senate final passage
May 10, 2024
Bills affecting the Optional Retirement Plan (ORP) and return to work (RTW) are scheduled for final approval in the Senate next week. House Bill 31 (Rep. Freiberg) would provide a window for active, contributing ORP participants to join the TRSL defined benefit plan. The ORP is a defined contribution retirement plan similar to a 401(k). For details on the provisions of House Bill 31, please read our April 12 Legislative Update....
Regular Session News #13: Return-to-work bill clears another legislative hurdle
May 3, 2024
Yesterday, the Senate finance committee favorably reported return-to-work (RTW) legislation, House Bill 967 (Rep. Riser). HB 967 proposes to do the following: For retirees who retired before July 1, 2020: Allow these retirees to return to work part-time after a 12-month waiting period in certain critical shortage positions without a suspension or reduction in retirement benefits. [Under current law, retirees reemployed...
Regular Session News #12: Substitute proxy voting bill moves forward
May 1, 2024
Today, the House retirement committee favorably reported a substitute bill for the investment-related House Bill 902 (Rep. Melerine). The substitute bill introduced by Rep. Melerine would to do the following: Generally, prohibit the governing authority of a La. public retirement system from voting on a shareholder-sponsored proposal recommendation from a proxy advisory firm unless the voting recommendation is consistent with the position of t...