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Votes at a glance: Board of Regents task force recommendations on phased retirement
Summary
Summary of motions and outcomes: task force approved a phased-retirement framework, timing language ('no earlier than' 06/30/2027), consolidated salary/benefit rules for DB and ORP, a contingent employer-rate recommendation, partial shift of the TRSL admin fee, and a proposal to pay ORP participants an extra 100 hours of unused leave.
The Board of Regents task force voted on a package of recommendations related to a phased-retirement program for Louisiana public postsecondary institutions. Key votes and outcomes:
• Phased-retirement framework (eligibility, MOU elements, enrollment 12–36 months): approved by voice vote with no opposition.
• Implementation timing: language revised to allow systems flexibility and to state policies may go into effect no earlier than 06/30/2027; approved.
• Salary and retirement benefits (consolidated DB and ORP guidance): approved. DB members to receive pro rata retirement benefits (percent effort not less than 50%); ORP participants may continue contributions with employer contributions continuing and prorated to adjusted salary/workload.
• Employer contribution increase recommendation: task force strongly recommended employers increase the minimum contribution from 6.2% to 8%, but made the recommendation contingent on passage of a constitutional amendment or on recurring state appropriations to avoid an unfunded mandate; approved.
• TRSL administrative fee: recommended that, beginning 07/01/2026, the current 0.05% administrative fee charged to ORP participants be split evenly so employees are not debited more than 0.025%; future employer-only payment was suggested as a contingent, longer-term consideration if recurring funding is appropriated; approved.
• ORP additional leave payout: task force recommended paying ORP participants an additional 100 hours of unused leave (later generalized to 'unused leave') to partially equalize benefits with DB members and strongly recommended pursuing recurring state appropriations to support the enhancement; approved.
All items reported as approved by voice vote with no recorded opposition; specific roll-call tallies were not provided in the transcript. The task force will update its draft report to reflect edits made during the meeting and post the report on the Board of Regents website after internal review.
