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Regular Session News #7: PBI funding bill and two UAL payment bills to be heard Monday

Apr 28, 2023

The Senate Finance Committee will consider Senate Bill 18 (Sen. Price/co-sponsored by Senate President Cortez) at 11 a.m. on Monday, May 1 (agenda). SB 18 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.
 
House Bill 560 (Rep. Zeringue) is scheduled for consideration by the House Appropriations Committee at 9 a.m. on Monday (agenda). HB 560 would make a supplemental appropriation of $49.2 million to the TRSL initial unfunded accrued liability (IUAL) from a portion of the FY 2021-22 surplus funds in the state treasury as required by the Constitution.
 
House Bill 47 (Rep. Nelson), which was recommitted to the House Civil Law and Procedure Committee, is also scheduled for consideration at 12 p.m. on Monday (agenda). HB 47, a proposed Constitutional amendment, would require a minimum of 25% of nonrecurring state revenue to be appropriated to the unfunded accrued liabilities (UALs) of the four state retirement systems for teachers, state employees, school employees, and state police, beginning FY 2024-25.
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In other news:
 
TRSL is monitoring Senate Bill 201 (Sen. Hewitt), which the full Senate passed with amendments on Tuesday. SB 201 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. The amendments were technical in nature.

SB 201 will now be considered by the House and Governmental Affairs Committee.

​​​​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 our website, to see all legislation impacting the retirement system.

Stay tuned for future updates
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