Regular Session News #16: PBI funding bill continues legislative journey next week
May 19, 2023
Less than three weeks remain in this year’s session. Legislation affecting TRSL, including the PBI funding bill, is slated for committee consideration as listed below:HOUSE APPROPRIATIONS COMMITTEE - 9 a.m., Monday, May 22 (agenda)
- Senate Bill 18 (Sen. Price/co-sponsored by Senate President Cortez) would establish a new model for providing permanent benefit increases (PBIs) to retirees and beneficiaries of the four state retirement systems for teachers, state employees, school employees, and state police. For details on the provisions of SB 18, please read our May 2 Legislative Update.
- Senate Bill 201 (Sen. Hewitt) relates to certain public bodies and would require the adoption of rules and procedures to allow a member of the public body with an Americans with Disabilities Act (ADA)-recognized disability to participate in certain meetings via electronic means and to adopt rules and procedures regarding electronic public participation in in-person meetings.
- House Concurrent Resolution 67 (Rep. M. Johnson) requests that Congress take actions necessary to review the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) Social Security benefit reductions and eliminate or reduce them by supporting H.R. 82 and S. 597 of the 118th Congress and all similar federal legislation.
- House Concurrent Resolution 69 (Rep. M. Johnson) urges and requests the House and Senate Retirement Committees to study and make recommendations regarding benefit options for future state employees to avoid penalties associated with the GPO and WEP Social Security benefit reductions. TRSL and other state and statewide retirement systems would be asked to participate.
- House Concurrent Resolution 70 (Rep. Beaullieu) requests the State Treasurer and the directors of the state and statewide retirement systems report on investments, investment funds, investment advisors, and other companies used by the treasurer or systems that meet certain criteria.
TRSL will keep you informed about the status of bills being monitored throughout the session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the Legislature page of this website, to see all legislation impacting the retirement system.
Stay tuned for future updates