Legislative Bills

Proposes to create a window for certain participants to make an irrevocable election to become a member of the TRSL regular retirement plan if they return to employment in a TRSL-eligible position. Would address ORP participants whose first employment in Louisiana higher education occurred before August 1, 2020 but who did not have the opportunity to switch back to the defined benefit plan because they were not in an eligible position on June 30, 2024. These participants could make the election to switch by the later of September 2, 2025, or sixty days after the date that the participant returns to employment with a TRSL-contributing employer for the first time after July 1, 2024.

Requires fiduciaries of public retirement systems to make investment decisions based solely on financial factors

Proposes to increase the annual earnings limit from 25% of their final average compensation to 50% for those retirees who retired on/after July 1, 2020, and select Option 1 (no benefit suspension) when returning to work

Proposes to make supplemental appropriations for the Fiscal Year 2024-2025.

As amended, proposed supplemental appropriation to La. State Police Retirement: $148,771,996

As amended, transfers a portion of mineral venue to TRSL: $7,594

The bill proposes to amend Article VII of the Louisiana Constitution related to revenue and use of funds. It would remove the dedication of mineral revenues to the Budget Stabilization Fund and increases funding cap to 7.5% of previous year’s state revenue (from 4% in current constitution).

As amended, HB 678/companion HB 683 both also call for the repeal of mineral dedications to the TRSL UAL.

HB 678 - effective if enacted through statewide election to be held on November 3, 2026; HB 599 – effective if HB 678 is approved by voters and takes effect

The bill proposes to make changes in Article VII of the Louisiana Constitution related to protected funds.

• Requires the State Treasurer to transfer to TRSL the balance of the following constitutionally established funds: Education Excellence Fund (EEF), Louisiana Education Quality Trust Fund, and Louisiana Quality Education Support Fund

• Requires the State Treasurer to transfer to TRSL the balance of the following constitutionally established funds: Education Excellence Fund (EEF), Louisiana Education Quality Trust Fund, and Louisiana Quality Education Support Fund

Effective January 1, 2027 if enacted through statewide election to be held on November 3, 2026.

Requires school systems to provide a salary increase for teachers and other school employees using savings attributable to the state's payment of certain unfunded accrued liability of the Teachers' Retirement System of LA

The amended bill requires any state agencies that pay public benefits (such as retirement pensions) to verify whether an applicant, who applies for such benefits, is a citizen of the U.S. or a qualifying alien..

Requires annual documentation reports

The bill proposes to establish a task force to study a phased retirement program for Louisiana’s public post-secondary education institutions. Study must be completed and submit finding to the House Retirement Committee by Dec. 31, 2025.