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The 2024 Regular Session of the Louisiana Legislature will convene on Monday, March 11. LASERS is currently tracking three bills that would impact our System, if passed:
SB 1 - Sen. Price
Systems Impacted: State & Statewide
This bill specifies, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required. The LASERS Board took a neutral position on this bill at its February meeting.
SB 5 - Sen. Miguez
Systems Impacted: State & Statewide
This bill requires fiduciaries for public retirement systems to make investment decisions based solely on financial factors.
HB 30 - Rep. Bagley
Systems Impacted: LASERS
This bill would permit any rank-and-file member, regardless of age or first date of employment, to retire with 25 years of service.
At its February meeting, the Board chose to not yet take a position on SB 5 and HB 30 until further clarification and information on each bill is provided.
LASERS will send Member Connection emails on upcoming retirement committee meetings and the outcomes of those meetings. You can also check the legislative section of our website here, which is updated frequently throughout the Session.
Additionally, the Louisiana State Legislature Website provides in-depth details on legislation, daily meeting schedules, and links to watch committee meetings live.
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