Legislative Session News Archive
Session News # 13: Recap of Week 6 in the Legislature
May 22, 2015
This week, the Senate Retirement Committee approved a substitute bill for Senate Bill 18 (Sen. Adley). The substitute bill, Senate Bill 285, is also sponsored by Sen. Adley. It proposes to change the method for determining the unfunded accrued liability (UAL) portion of the employer contribution rate by calculating a particularized UAL for higher education employers and K-12 employers. (Under current law, the UAL is shared among all employers.) S...
Session News #12: Substitute bill regarding UAL payments for higher ed moves forward
May 19, 2015
The Senate Retirement Committee met yesterday and took action on the following bills affecting TRSL: The committee accepted and favorably passed a substitute bill for Senate Bill 18 (Sen. Adley), which proposes to change the method for determining the UAL portion of the employer contribution rate by calculating a particularized unfunded accrued liability for higher education employers and K-12 employers. (Under current law, the UAL is shared ...
Session News #11: House retirement committee takes action on PBI bill, passes more return-to-work legislation
May 14, 2015
The House Retirement Committee met and voted on the following legislation affecting TRSL and its members. The committee voted to report HB 42 (Rep. Jones) unfavorably to the full House. The bill would provide a 1.5% permanent benefit increase (also known as a COLA) to eligible retirees of the four state retirement systems. Last week the House Retirement Committee failed to report the bill to the full House. The chamber, then...
Session News #10: Re-employment salary cap raised for substitute teaching positions
May 12, 2015
The full House yesterday passed return-to-work legislation that would increase the salary cap for certain retirees who return to work as substitute classroom teachers in Pre-K through grade 12. HB 43 (Rep. LeBas) was amended to gradually increase the salary cap. Currently, during re-employment in a position eligible for TRSL membership, retirees rehired as PreK-12 substitutes can earn a salary up to 25% of their retirement benefit, follo...