Regular Session News #22: Senate finance okays COLA bill; return-to-work bills
May 26, 2016
The Senate finance committee yesterday favorably reported three bills affecting TRSL. House Bill 32 (Jones) grants a 1.5% benefit increase to eligible TRSL retirees and beneficiaries, effective July 1, 2016.Last week, Gov. John Bel Edwards signed Senate Bill 2 (now Act 93) into law which authorizes payment of a 1.5% COLA to eligible TRSL retirees and beneficiaries. If HB 32 is passed by the full Senate and signed by Gov. Edwards, it would affirm the COLA authorized by Act 93, not provide for an additional 1.5% COLA.
House Bill 61 (Hoffmann) adds “school psychologist” to the list of full-time critical shortage positions in which a retiree can return to work without a restriction of benefits.
House Bill 907 (LeBas) increases the earnings allowed for TRSL retirees who are re-employed as substitute classroom teachers and are filling a vacancy created by extended leave, from 25% of benefit to 50% of benefit.
These bills now head to the Senate chamber for consideration.
NOTE: House bills 61 and 907 were both amended in an earlier Senate retirement committee meeting to increase the waiting period between retirement and returning to work from 12 months to 36 months for non-critical shortage positions. The re-employment of retirees who have met the 12-month waiting period and returned to work prior to May 15, 2016, would continue to be governed by current law.
In other action
The Senate passed House Bill 14 (Pearson) which replaces the chair of the House retirement committee with any member of the committee appointed by the House speaker to serve on each state and statewide retirement board.
And, House Concurrent Resolution 12 (Franklin) was signed by both the Senate president and House speaker. HCR 12 asks Congress to consider eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) Social Security reductions.
A complete list of legislation impacting TRSL, including the position taken by the TRSL Board of Trustees on each bill, is available on the Legislation page of our website.