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Board of Regents task force kicks off study of phased retirement, asks for fiscal modeling
Summary
The Board of Regents task force met to begin studying phased retirement and related retirement-plan changes for Louisiana higher education, named Dr. Mark McLean chair, asked TRSL and actuaries for cost modeling, and set a Dec. 31 deadline for recommendations.
The Board of Regents convened its legislatively created task force to study phased retirement and possible changes to retirement contributions for higher education employees, hearing a policy primer and asking TRSL staff and actuaries for fiscal modeling ahead of a Dec. 31 report to the House Committee on Retirement.
Elizabeth Emily Smith, deputy commissioner for finance and administration for the Board of Regents, opened the meeting and framed the group’s charge: "The purpose of the resolution is to establish this task force," she said, noting the panel will revisit two items left off last year’s legislation and review recommendations carried forward in House Bill 24 and House Resolution 169.
The task force’s immediate work centers on phased retirement — programs that typically allow eligible faculty or staff to reduce workload over a one- to five-year period while receiving a portion of retirement benefits and continuing health insurance — and on questions about employer contributions for…
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