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SB 1 by Sen. Price passed on the House Floor. SB 1 specifies, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required. The LASERS Board supports this bill.
HB 30 by Rep. Bagley was amended and reported favorably in the House Retirement Committee. This bill permits any rank-and-file member, regardless of age or first date of employment, to retire with 27 years of service credit. The amendment changed eligibility from 25 years to 27 years of service credit. The LASERS Board is neutral on HB 30.
HB 902 by Rep. Melerine was reported by substitute in the House Retirement Committee. The substitute bill adds new restrictions related to proxy voting on shareholder-sponsored proposals and adds new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.
HCR 20 was reported favorably in the Senate Retirement and is scheduled for consideration on the Senate Floor on Monday, May 6. HCR 20 by Rep. Johnson memorializes Congress to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) by supporting H.R. 82 and S. 597 of the 118th Congress. Similar resolutions have passed in previous sessions. The LASERS Board supports HCR 20. Learn more here.
LASERS is also tracking HB 800 by Rep. Beaullieu, which calls for a constitutional convention to convene on May 20, 2024, and requires the convention to complete a new constitution by June 3, 2024, with the potential for an extension to July 15, 2024. HB 800 was amended on the House Floor, returned to the calendar, and is scheduled for debate on Tuesday, May 7.
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