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Session News #21: It's over... 2015 legislative session wrap-up

Jun 12, 2015

The 2015 legislative session ended at 6 p.m. yesterday. Here’s a rundown of what happened to the bills TRSL was monitoring:

Bills that passed (need governor’s signature):
  • House Bill 42 (Rep. Jones) would provide a COLA of up to 1.5% to eligible TRSL retirees and beneficiaries, payable July 1, 2015; amendments to the original bill would prohibit putting any excess investment earnings realized this year into the account that funds COLAs or in any other year in which a COLA is granted.  HB 42 also makes certain actuarial changes related to the long-term sustainability of the system.
  • Senate Bill 20 (Sen. Long) would expand the definition of “retired teacher” to include a member who retired on or before June 30, 2010, regardless of whether the member returned to work by that date; would add school counselors, school social workers, and educational diagnosticians to the list of critical shortage positions; would restructure how “retired teacher” definitions are organized in law; would require certain certifications and notifications from employers related to critical shortage positions existing within their school districts on an annual basis.
  • House Bill 800 (Rep. Fannin) would appropriate approximately $6.2 million to TRSL from FY 2013-14 state funds determined to be surplus or nonrecurring to be applied to the balance of the initial unfunded accrued liability.
Bills that passed (do not need governor’s signature):
  • House Study Request 1 (Rep. Harrison) requests the House Retirement Committee to meet and study the process of funding retirement benefits for K – 12 employees, and to investigate potential improvements. Findings to be reported to the House of Representatives prior to the 2016 Regular Legislative Session.
Bills that did not pass:
  • Senate Bill 16 (Sen. Guillory) proposed making technical corrections to Act 399 of 2014.
  • Senate Bill 285 (Sen. Adley) proposed establishing separate employer contribution rates for K-12 and higher education employers as well as a particular formula for determining the rates. This bill was formerly named Senate Bill 18.
  • Senate Bill 14 (Sen. Guillory) proposed adding an assessment for non-investment related administrative expenses in determining the annual required employer contributions.
  • House Bill 41 (Rep. Harrison) proposed requiring the state Department of Education to make direct payments to TRSL for the unfunded accrued liability from the Minimum Foundation Program (MFP) block grant. This legislation was withdrawn from the House prior to the start of the legislative session.
  • House Bill 43 (Rep. LeBas) proposed to gradually increase the salary earnings limit to 50% of benefit for retirees re-employed as substitute teachers. Current earnings limit is 25% of benefit.
  • House Bill 10 (Rep. Pearson) proposed allowing TRSL members to purchase out-of-state, private school teaching service.
  • Senate Bill 15 (Sen. Nevers) proposed a constitutional amendment levying a tax on the use of hydrocarbon processing facilities and directing a portion of the funds generated to the unfunded accrued liability of TRSL and the state employees’ retirement system, LASERS.
  • House Bill 55 (Rep. Ritchie) was identical to Senate Bill 15.
  • House Bill 562 (Rep. Havard) proposed to require the revenue estimating conference to designate certain general fund money from mineral revenues (designated as nonrecurring) to payment of the initial unfunded accrued liability.
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