Regular Session News #3:Several bills impacting TRSL scheduled to be heard next week
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Three House committees meeting next week will hear bills that could impact TRSL. Read more about these bills below.
The following bills will be considered by the House Ways & Means Committee at 10 a.m., Tuesday, April 22 (agenda):
House Bill 473 (Rep. Emerson), a proposed constitutional amendment, would apply the balance in three educational trust funds to make a one-time payment to erase a portion of TRSL’s retirement debt, also known as the unfunded accrued liability (UAL). In effect, the one-time payment would pay off or nearly pay off TRSL’s two oldest debt schedules, thereby, reducing the employer contribution rate for TRSL-participating employers.
House Bill 472 (Rep. Emerson), a proposed constitutional amendment, would make several revisions to Article VII of the state Constitution. The portion impacting TRSL would remove the constitutional dedication of certain mineral revenues to pay down TRSL’s initial unfunded accrued liability (IUAL).
If passed, voters would see these proposed amendments on the ballot on November 3, 2026.
The following bill will be considered by the House Education Committee at 9:30 a.m., Wednesday, April 23 (agenda):
House Bill 466 (Rep. Carlson), a companion bill to HB 473 (described above), would direct the savings realized from the reduced employer contribution rate for TRSL-participating employers, if enacted through the constitutional amendment, to make permanent salary increases for teachers ($2,000) and school personnel ($1,000) beginning in the 2027-2028 school year. HB 466 includes provisions for state funding if the realized savings for any school district from HB 473 are insufficient to cover the raises. It also establishes specific purposes for which school systems must use any realized savings that exceed what is needed to fund the pay increases.
The following bills will be considered by the House Retirement Committee at 8:30 a.m., Thursday, April 24 (agenda):
House Bill 24 (Rep. Bacala) would make changes to the terms of the optional retirement plan (ORP), a defined contribution plan available to unclassified faculty and staff in higher education. The proposed changes are:
House Bill 20 (Rep. Moore) would increase the earnings limit from 25% to 50% of a retiree’s final average compensation (FAC), for those retirees who retired on/after July 1, 2020 and select Return to Work Option 1 (no benefit suspension) when reemployed by a TRSL-reporting employer. As in current law, the retiree’s benefit would be reduced when the earnings limit is reached.
TRSL will keep you informed about the status of retirement-related bills being monitored throughout the legislative session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the “Legislation” page of this website, to see any legislation impacting the retirement system.
Stay tuned for future updates.
House Bill 473 (Rep. Emerson), a proposed constitutional amendment, would apply the balance in three educational trust funds to make a one-time payment to erase a portion of TRSL’s retirement debt, also known as the unfunded accrued liability (UAL). In effect, the one-time payment would pay off or nearly pay off TRSL’s two oldest debt schedules, thereby, reducing the employer contribution rate for TRSL-participating employers.
House Bill 472 (Rep. Emerson), a proposed constitutional amendment, would make several revisions to Article VII of the state Constitution. The portion impacting TRSL would remove the constitutional dedication of certain mineral revenues to pay down TRSL’s initial unfunded accrued liability (IUAL).
If passed, voters would see these proposed amendments on the ballot on November 3, 2026.
The following bill will be considered by the House Education Committee at 9:30 a.m., Wednesday, April 23 (agenda):
House Bill 466 (Rep. Carlson), a companion bill to HB 473 (described above), would direct the savings realized from the reduced employer contribution rate for TRSL-participating employers, if enacted through the constitutional amendment, to make permanent salary increases for teachers ($2,000) and school personnel ($1,000) beginning in the 2027-2028 school year. HB 466 includes provisions for state funding if the realized savings for any school district from HB 473 are insufficient to cover the raises. It also establishes specific purposes for which school systems must use any realized savings that exceed what is needed to fund the pay increases.
The following bills will be considered by the House Retirement Committee at 8:30 a.m., Thursday, April 24 (agenda):
House Bill 24 (Rep. Bacala) would make changes to the terms of the optional retirement plan (ORP), a defined contribution plan available to unclassified faculty and staff in higher education. The proposed changes are:
- Increasing the minimum employer contribution to ORP participant accounts from 6.2% of pay to 8%.
- Expanding ORP eligibility to technical college staff beginning July 1, 2025, and allowing existing technical college staff 180 days from July 1, 2025, to opt into the ORP.
- Extending the window for ORP participants to switch back to the TRSL defined benefit plan, from five years after first ORP eligibility to seven years.
House Bill 20 (Rep. Moore) would increase the earnings limit from 25% to 50% of a retiree’s final average compensation (FAC), for those retirees who retired on/after July 1, 2020 and select Return to Work Option 1 (no benefit suspension) when reemployed by a TRSL-reporting employer. As in current law, the retiree’s benefit would be reduced when the earnings limit is reached.
TRSL will keep you informed about the status of retirement-related bills being monitored throughout the legislative session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the “Legislation” page of this website, to see any legislation impacting the retirement system.
Stay tuned for future updates.
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