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2014 Regular Legislative Session

The Regular Legislative Session is scheduled to begin on Monday, March 10, 2014. The Board of Trustees met on February 4, 2014, and took positions on many of the pre-filed bills affecting LSERS which will be debated during the upcoming Legislative Session.  For a list of the bills and board positions please visit our website and click on the “Legislation” tab.  If you are interested in receiving regular updates on the various bills and their movement through the legislative process, we encourage you to enter your email address in the “Email Subscription Sign-up” box located in the bottom right of the LSERS Website page.

Of particular interest to you may be SB 14 by Senator Guillory which provides for outstanding amortization bases of LSERS to be consolidated and re-amortized over a 30-year period with level dollar payments. This bill is a board sponsored bill.  The purpose is to assist the school boards in their budgeting process by eliminating the increasing payment schedule which is currently in effect and providing a new schedule incorporating level dollar payments.
 
Other board sponsored legislation includes SB 19 by Senator Guillory which will provide a permanent benefit increase of 1.5% to eligible retirees and beneficiaries of the system paid from available funds in the Experience Account and SB 25 by Senator Guillory which provides for technical corrections requested in the interest of administering the plan.
 

Ruling in Privatization Case Upheld

St. James, Pointe Coupee, and Evangeline Parish School Boards filed suit to enjoin LSERS from collecting on privatization pursuant to La. R.S. 11:1195.1  and 1195.2. The case was tried on December 13, 2012. Judge Hernandez dismissed the plaintiff's claims ruling in favor of LSERS. The plaintiff school boards appealed the ruling. On February 14, 2014, the First Circuit Court of Appeal affirmed the ruling of the lower court and assessed the costs of the appeal against the school boards, specifically writing in their opinion, “After a thorough review of the record and the arguments presented, we find no merit to the school boards’ assignments of error and affirm the judgment of the trial court.”


Revised Fact Sheets

The following Fact Sheets have been revised and are now available on LSERS website: 
Fact Sheet - 14 IBRP (Initial Benefit Retirement Plan) - minor changes
Fact Sheet - 18 Retirees Who Return to Work  - minor changes
Fact Sheet - 22 Privatization - The Cost Calculation section of the fact sheet was revamped.  Costs of privatizing positions are now provided based on various salaries.  This will now give employers more information to assist in their decision making about privatizing LSERS-eligible positions.  Also, LSERS will now calculate privatization cost estimates in-house for school boards that are considering privatizing a small number of positions.

And, as always, we appreciate and welcome any and all comments, as this helps
us identify ways to make improvements for you and provide better service to our
members and employers. Feel free to provide feedback and suggestions using
the LSERS Satisfaction Survey on our "Contact Us" page on the LSERS website.

Copyright © 2014 Louisiana School Employees' Retirement System, All rights reserved.


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