LRTA Legislative Update #8: LRTA Legislative Update #8: We have reached our final destination! SB 6 Passes the House, Headed to Governor’s Desk

I am happy to report Senate Bill 6 by Senator Ed Price PASSED the House of Representatives! SB 6, which will provide a two percent cost-of-living adjustment (COLA) to TRSL retirees at least age 60 and retired at least one year, now heads to the Governor’s desk. The bill will be parked at the Governor’s office awaiting his signature where it will be assigned an Act number and become law.

I want to thank you all for your activism during this session. Our members sent THOUSANDS of messages to legislators this session. They heard a strong, unified voice asking them to support Louisiana’s retired teachers. I also want to thank our members who traveled to the Capitol for committee meetings, where I also provided testimony on your behalf. Our Road to a COLA campaign and the 2022 Regular Session as a whole shows the power we have to advocate for legislation that is beneficial to retirees. We are able to do what we do, and we are as successful as we are, thanks to our members! 

As we near the end of the regular session, several other retirement bills have gained traction. Below is an update on those bills. Given the session ends on Monday, June 6, it is highly unlikely any bills currently pending in committee will complete the legislative process:

• House Bill 25 (prohibits retirement systems from investing in companies that boycott energy companies) by Rep. Danny McCormick – Voluntarily Deferred
  • LRTA Oppose
• House Bill 29 (Proposed Constitutional Amendment to require the legislature to appropriate no less than 25 percent of nonrecurring state revenue (surplus) for application to certain state retirement system unfunded accrued liability (UAL) beginning fiscal year 2023-2024) by Rep. Richard Nelson – Pending Senate Finance
  • LRTA Support
• House Bill 31 (Proposed Constitutional Amendment to allow the Legislature to appropriate remaining surplus monies (after certain allocations are made) to fund a one-time supplemental benefit to retirees of the four state retirement systems, including TRSL) by Rep. Philip Tarver – Pending Senate Finance
  • LRTA Support
• House Bill 405 (calls for a full constitutional convention) by Rep. Mark Wright – Failed in Committee
  • LRTA Oppose
• House Bill 1021 (amends advertising requirements for employers, creates a temporary category to allow non-disability retirees subject to the 2010 RTW law, after a 12-month waiting period, to be directly re-employed without a suspension or reduction in retirement benefit through June 30, 2027, if the retiree is certified to teach mathematics, science, English language arts, or special education (excluding gifted/talented) and is re-employed to fill a position in that area or the retiree is at least age 62 with 30 years of service and is re-employed to fill a vacancy created by maternity leave, military leave, sabbatical leave, or extended sick leave, and allows retirees in the 2020 RTW Group who retired before July 1, 2020, to return to work under the 2010 RTW Law and provides generally that the 2010 RTW Law is applicable to individuals who retired before July 1, 2020) by Rep. Jack McFarland – Sent to Governor
  • LRTA Neutral
• House Concurrent Resolution 11 (requests congress and other state legislatures to request that congress review and eliminate the provisions of federal law which reduce Social Security benefits for persons receiving pension from federal, state, or local government retirement systems) by Rep. Mike Johnson – Sent to Secretary of State
  • LRTA Support
• Senate Bill 434 (amends advertising requirements for employers, creates a temporary category to allow non-disability retirees subject to the 2010 RTW law, after a 12-month waiting period, to be directly re-employed without a suspension or reduction in retirement benefit through June 30, 2027, if the retiree is certified to teach mathematics, science, English language arts, or special education (excluding gifted/talented) and is re-employed to fill a position in that area or the retiree is at least age 62 with 30 years of service and is re-employed to fill a vacancy created by maternity leave, military leave, sabbatical leave, or extended sick leave, and allows retirees in the 2020 RTW Group who retired before July 1, 2020, to return to work under the 2010 RTW Law and provides generally that the 2010 RTW Law is applicable to individuals who retired before July 1, 2020) by Senator Cleo Fields – Pending House Final Passage
  • LRTA Neutral