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Senate committee reports a slate of retirement bills favorable
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Summary
On April 13 the Senate Committee on Retirement reported several housekeeping and policy bills favorable, including tax-conformity changes to TRSL (HB25), correction procedures for clerical errors in the Assessors' Retirement Fund (HB15), COLA statute consolidations for assessors and clerks (HB47 and HB22), LSERS cleanup (HB32), DA system changes (HB18, HB19), and a change to executive-session staff authorization (HB8).
The Senate Committee on Retirement on April 13 cleared a package of retirement-related bills, reporting each favorable by unanimous consent and sending them to the Senate calendar for further consideration.
Representative Spils presented House Bill 25 to align the Teachers' Retirement System of Louisiana (TRSL) with recent federal changes to required minimum distribution (RMD) ages and to add an option for surviving spouses to use their own age to determine the RMD start date. Katharine Whitney, director of TRSL, described the measure as a routine tax-conformity cleanup.
Representative Burrow presented HB15 to clarify processes for correcting administrative errors in the Assessors' Retirement Fund; the committee reported that bill favorable. Burrow also presented HB47, which relocates COLA statutes into a single section applying only to the Assessor's Retirement Fund and confines funding to a pre-funded deposit account.
Representative Egan presented HB32, a technical cleanup for the Louisiana State Employees' Retirement System (LSERS) addressing redundant or conflicting definitions and minor administrative fixes.
The committee also reported HB18 (staggering elections for the District Attorneys' Retirement System trustees) and HB19 (elimination of the state medical disability board for the DA retirement system because trustees now directly engage physicians) favorable after system representatives provided information.
Laurie Gail Solis presented HB22 to consolidate COLA statutes for the Clerks of Court Retirement System and to limit COLA funding to the system's funding deposit account rather than allowing investment earnings to be used. Sponsor discussion indicated the bill mirrors similar legislation for assessors and registrars of voters.
Senate Bill HB8 was presented to extend authorization for legislative staff to attend executive sessions of state or statewide retirement boards from one year to four calendar years; the committee approved the change.
Committee members recorded no opposition during the meeting for these agenda items; each was reported favorable and will proceed to the Senate floor. Several bills had agency staff or system representatives present for informational purposes.
