Regular Session News #4: Senate retirement committee takes up investments bill on Tuesday
Mar 28, 2024
The Senate retirement committee will consider Senate Bill 5 by Sen. Blake Miguez at 2:00 p.m., Tuesday, April 2 (agenda). The bill was originally scheduled for consideration on March 18, but was removed from the agenda at the request of the bill’s author.
As originally filed, Senate Bill 5 proposes to put in place broad and far-reaching requirements for all fiduciaries of Louisiana’s public retirement systems when they are making investment decisions or exercising voting rights on behalf of system members. A detailed explanation of Senate Bill 5, in its original posture, is available in our Regular Session News #2 published March 15.
In other news:
The full Senate passed Senate Bill 1 (Sen. Price) last week. SB 1 would add clarifying language in the law related to employer contributions eligible for transfer to another Louisiana public retirement system when a member requests to transfer their service credit to another system, fund, or plan in which they become eligible for membership. SB 1 now heads to the House retirement committee for consideration.
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 Legislation page of this website, to see all legislation impacting the retirement system.
Stay tuned for future updates.