Session News #2: Two retirement bills advance, including new return-to-work provisions
Apr 21, 2015
The Senate Retirement Committee met yesterday and took the following action on the legislation below:- Senate Bill 14 (Sen. Guillory) was deferred by the author. This bill proposes to add an assessment for administrative expenses (excluding investment-related expenses) in the determination of the annual required employer contributions for each of the four state retirement systems.
- Senate Bill 16 (Sen. Guillory) was reported favorably as amended and now heads to the Senate floor for consideration. SB 16 makes technical corrections to Act 399 of 2014. The amendments made technical changes to the bill.
- Senate Bill 20 (Sen. Long) was reported favorably as amended and advances to the Senate floor. This bill restructures the state’s return-to-work law as well as adds school counselors to the critical shortage positions qualifying as a “retired teacher.” It also expands the grandfathered group of “retired teachers” to include individuals who retired on or before June 30, 2010, regardless of whether or not they were rehired by that date. The amendment allows retirees serving as substitute teachers under the 25% earnings limit to proctor certain testing. Combined earnings through substitute teaching and test proctoring will still be subject to the 25% earnings limit.
The House Retirement Committee is scheduled to meet at 1 p.m., Wednesday, April 22 to consider House Bill 10 (Rep. Pearson), which would allow TRSL members to purchase service credit for out-of-state, private school teaching service.
To view a comprehensive list of all legislation affecting TRSL this session, visit the Legislation page of TRSL’s website.