Transcript Highlights:

• Good morning, Chair, board members, or committee members. I'm used to talking to the board.
• I'm Jacob White, staff to the LEOFF 2 Board.
• So this issue came to the board from Rep.
• If someone has been retired for disability, they receive their monthly pay when they receive that retirement
• The retirement plan ceases to exist.

Committee: Joint Select Committee on Pension Policy

Summary: The Select Committee on Pension Policy approved the June minutes by roll call vote, with 11 ayes and 6 excused. The chair then outlined meeting procedures and public comment rules before educational briefings began. Lisa Wan of the Office of the State Actuary gave the agency’s annual update, describing its staffing, clients, strategic plan, and performance measures. She noted the office is a small nonpartisan legislative agency that provides actuarial valuations, fiscal notes, policy analysis, and support for multiple retirement systems and boards, and said the office faces a heavy workload in 2025 because of the demographic experience study and other recurring projects. Jacob White provided the annual LEOFF 2 Board update, covering the board’s structure, plan demographics, funded status, contribution rates, and several policy topics under review. Those topics included a Seattle overtime/pension spiking review, catastrophic disability survivor benefits, retiree return-to-work employer contributions, and the change in interest credited to member accounts. He said the board would continue coordinating with DRS and report back through interim updates. Erin Gutierrez presented background for the LEOFF 1 study, explaining plan benefits, medical and death benefits, historic funding, and federal tax qualification issues. She compared Substitute House Bill 2034 and Substitute Senate Bill 5085, describing 2034 as a restatement/termination approach and 5085 as a merger into a Legacy Retirement Plan, both requiring IRS determination letters. Committee members asked questions about LEOFF 1 medical costs, funding sources, and tax implications, and public commenters urged the committee to protect tax qualification, consider a recurring COLA for PERS and TERS 1, and address pension policy concerns. The meeting ended with adjournment and notice of a 30-minute break before executive session.

Transcript Highlights:

• board systems.
• House Bill 18 by Representative Ilg: Title 11, District Attorney's Retirement System, Board of Trustees
• of the board and authority of the board.
• Retirement.
• House Bill 41 by Representative DeWitt: Firefighters' Retirement System; board of trustees term limits

Summary: The House convened with a quorum, received and accepted multiple resignation notices from members representing Districts 37, 39, 60, 69, 97, and 100, and then recognized the election and qualification of the members-elect who filled those vacancies: Doyle Boudreau, Reese Broussard, Chasity Verrett-Martinez, and Edwin Murray. Each member-elect was sworn in, and the House also appointed committees to notify the Senate and the governor that it was ready to conduct business for the 2026 regular session. The chamber then handled a large number of procedural actions related to prefiled legislation. By motion and without objection, the House suspended rules to refer prefile bills to committee and introduced a broad slate of House bills and resolutions. Topics included the state budget and appropriations, retirement system changes, carbon capture and sequestration, criminal justice and bail, public safety, education, health care, local government matters, transportation, and several memorial or commemorative resolutions. Several resolutions and bills were noted as lying over, and some prefiled bills were withdrawn from the files. The House also received a Senate message that SCR 1 had been adopted, and the resolution was taken up without objection. The chamber then recessed for a joint session with the Senate to hear the governor’s address and a presentation honoring Technical Sergeant Adam W. Brister with the Distinguished Flying Cross. In his remarks, Governor Jeff Landry highlighted his administration’s priorities, including education, tax reform, workforce development, health and nutrition, insurance reform, transportation infrastructure, fiscal discipline, and criminal justice reform, while urging support for his agenda and several related bills and constitutional amendments.

Transcript Highlights:

• by the Beverly Retirement Board.
• While at the retirement board, I was asked, 'What retirement group are you in?'
• to the Massachusetts Retirement Board.
• Retirement Board his Group 4 status.
• When this happens, an officer files an accidental disability retirement to the Retirement Board.

Committee: Joint Joint Committee on Public Service

Summary: The Joint Committee on Public Service heard testimony on a wide range of retirement classification and benefit bills affecting municipal and state employees. Much of the hearing focused on proposals to move various workers from Group 1 to Group 2 or Group 4, including municipal building officials (H. 2776), MassDOT highway workers (H. 2908/Sousa’s Law), DCF attorneys (H. 2771), probation officers, licensed electricians, drinking water operators (H. 3000/S. 1834), MWRA non-clerical workers (S. 1803), transitional parole officers (H. 2878), Plymouth BCI criminal investigator officers (H. 2975/S. 1863), Beverly fire alarm operators/public safety telecommunicators (S. 1876), Massport pipefitters and refrigeration technicians (H. 2788/S. 1829), and other public safety or hazardous-duty classifications. Witnesses generally argued that their work is physically dangerous, understaffed, or comparable to already higher-classified employees, and several said the changes would help recruitment and retention with little fiscal impact because the affected groups are small. The committee also heard testimony on H. 4508, a home rule petition to grant a disability pension to Boston principal Patricia Lampron. Supporters, including Representative Dan Hunt, Boston city councilors, and Lampron herself, described a severe 2021 assault at the Henderson Inclusion School that left her with lasting physical and psychological injuries and forced her into early retirement. They urged the committee to advance the bill quickly. One witness, Pamela McLaughlin, testified in opposition, arguing the bill would set the wrong precedent and describing alleged prior misconduct by Lampron, and asked that the bill be sent to study. Several witnesses and committee members asked brief questions, mainly about the scope of the bills, whether certain workers were already in higher groups, and the fiscal or precedent concerns. No votes were taken during the hearing. At the end, the chairs announced that testimony was complete, asked whether anyone else wished to speak, and then the committee voted to adjourn.

Transcript Highlights:

• Where the board would be today.
• The board again declined.
• The board responded orally to the request.
• What would be the reason to retire that one? Well, I think the board would say the same thing.
• It just says it's retired.

Summary: The meeting opened with attendance and brief remarks acknowledging recent violence against public servants in Minnesota and the risks of public service. The committee then approved the prior minutes and noted there were no employment disclosure forms to report. An update followed on digitizing committee files: the vendor’s estimate had been reduced after reviewing the files, the contract would be sent via DocuSign for the chair’s signature, and staff discussed whether the work could be completed before the end of the biennium and how it would be paid for. The main business was a review of remaining advisory opinions for possible retention or retirement. Staff walked through several opinions, recommending retention of some that still aligned with current law or practice, and retirement of others that were outdated, duplicative, or no longer useful because the underlying statutes had changed or the supporting materials could not be found. The committee voted to accept staff’s recommendations on the set of previously reviewed advisory opinions. A separate question was raised about an older opinion on outreach/newsletters and whether its factors should still apply outside the election-year context. Members generally agreed that the same factors should continue to guide analysis, with their weight varying depending on timing and circumstances. Staff was asked to review the opinion further and bring back a recommendation on whether to unretire or otherwise clarify it. The public portion of the meeting then adjourned, with the committee preparing to move into executive session.

Transcript Highlights:

• But do you know how many states use the state investment board, have a state investment board like Washington
• , and many of them have already retired.
• Ready to retire. And many of them have already retired.
• Today I'm bringing back the topic of Public Employees' Retirement System and Teachers' Retirement System
• I want to point out that those who have been retired I want to point out that those who have been retired

Committee: Joint Select Committee on Pension Policy

Summary: The committee approved the October minutes and received an update from the State Investment Board. David Schumacher described the board’s structure, its fiduciary mission to maximize return at prudent risk, the mix of funds it manages, and the factors behind its long-term performance, including broad diversification, low fees, and a long-term investment approach. Members asked about rankings, the board’s independence, climate/ESG considerations, and whether political divestment pressures affect investment decisions; Schumacher said decisions remain grounded in fiduciary duty and financial risk. The Department of Retirement Systems annual report followed. Director Catherine Leathers reviewed membership, contributions, benefit payments, the Deferred Compensation Program, employer partners, and the economic impact of pension payments across counties and legislative districts. She also highlighted staffing and training needs, improved call wait times and benefit estimate turnaround after legislative funding, cybersecurity upgrades, and the CorePAM pension administration modernization project, which is being paid from the trust fund as an administrative cost. Members asked about inactive accounts, and Leathers said DRS works to locate missing members and return benefits, including through a new link from the Department of Revenue website. The committee then closed out its study of the Left One system. Staff presented options ranging from no recommendation to recommending either the restatement/termination bill or the merger bill, with or without policy changes. After discussion, the committee first failed to reach 11 votes for a no-recommendation motion, then adopted a revised motion to submit the report without recommending either bill but also to request future analysis that disaggregates policy choices, including COLA-related impacts. The committee next heard a briefing on an ad hoc COLA for PERS/TRS Plan 1 retirees and adopted a motion to send a letter supporting the one-time COLA policy in HB 1474 or a similar Senate bill. Finally, staff briefed the committee on the month-of-death bill, which would end proration of pension payments in the month a retiree dies; no action was taken. Public testimony largely focused on support for an ad hoc or ongoing COLA for Plan 1 retirees, with some speakers urging the committee to back SB 5085 and others emphasizing the need for a bridge policy while a permanent solution is developed.

Transcript Highlights:

• My firm represents 54 of the 104 retirement boards.
• Upon appointment, I went to the retirement board and asked them if I could buy back my time as selectman
• Upon appointment, I went to the retirement board and asked them if I could buy back my time as selectman
• I requested a printout for retirement plans based on the retirement calculations that were given, and
• I would have been investing in other places than just the retirement board.

Committee: Joint Joint Committee on Public Service

Summary: The Joint Committee on Public Service held its third hearing of the 194th General Court session, taking testimony on several individual bills and home rule petitions, mostly involving retirement and pension-related relief. The committee chair outlined hearing procedures, including three-minute limits for individuals, ten-minute limits for panels, livestreaming, and the deadline for written testimony. At the end of the hearing, the chair noted that House matters heard that day must be reported by Friday, July 11, 2025, subject to extensions, and the committee adjourned after testimony concluded. Several witnesses supported bills seeking retirement credit or pension adjustments for public employees. These included H. 2917 for Dedham-Westwood Water District employees seeking pension buy-in credit; H. 2976 for Eileen Mullen to purchase creditable service for teaching in a criminal justice pilot program; H. 2996 for Virginia Cummings, a retired Department of Correction lieutenant seeking greater pension parity; H. 2977 for Wendy Lopieri to buy back part-time community college service; and H. 2989 for Wayne Taylor, who said he was mistakenly credited for fewer years of select board service than he expected. Testimony emphasized long public service, injuries, and what witnesses described as unfair denials or flawed interpretations of retirement law. The committee also heard testimony on bills involving post-retirement earnings and disability-related relief. Kevin Blanchett testified in opposition to H. 2931, arguing it would improperly reduce money owed to a regional retirement system and its members, while the bill’s sponsor argued the retirement board was seeking an excessive recovery based on law firm gross earnings rather than the individual’s earnings. Jamie Magarian described severe injuries from a 2018 crash and urged favorable action on his bill, with support from the State Police Association. Michael Palmer testified in favor of S. 1841, seeking to extend prior violent-crime retirement income-cap relief to his case after being shot on duty and later finding that even part-time private-sector work exceeded his retirement earnings limit.

Transcript Highlights:

• a retirement allowance.
• ><c> can</c><00:09:07.680><c> retire</c> I can retire I can retire and<00:09:09.760><c> or</c><00:09:
• </c> philosophy of the retirement system. philosophy of the retirement system.
• </c><00:14:47.600><c> the</c> retiring and under retiring under the retiring and under retiring under
• </c> retirement is going to stay the same. retirement is going to stay the same.

Committee: Joint Education

Transcript Highlights:

• “Where the board would be today.
• “Actually, what the board said is it really is a policy…” “Actually, what the board said is it really
• The board again declined.
• What would be the reason to retire that one? Well, I think the board would say the same thing.
• And I do like that when you retire opinions, they're still available. It just says it's retired.

Summary: The meeting opened with attendance and technical setup, including bringing a remote member into the session. The chair also made brief remarks about public service in light of recent violence against public officials, and a member shared condolences related to a colleague’s death. The committee then approved the minutes and noted no employment disclosure forms were filed. The main business was an update on digitizing committee files. Staff reported that the archival scanning estimate had been reduced and that a DocuSign contract would be sent for the chair’s signature. Members also discussed whether the work could be completed before the end of the biennium and whether existing funds could be used or prepaid. The committee then reviewed a long list of remaining advisory opinions and, on motion, approved staff recommendations to retain some opinions and retire or partially retire others based on changes in law or usefulness of the opinions. Topics included special privileges, frequent flyer miles, state contracts involving legislators, tours sponsored by lobbying entities, conflicts of interest, confidentiality of drafting requests, election-year brochures, and recusal/firewall issues. After a separate discussion about an older election-related outreach opinion, members agreed they likely still intended to apply the same factors outside the election-year context and asked staff to revisit whether that opinion should be unretired or revised. The public portion of the meeting was then adjourned, with the committee preparing to move into executive session.

Transcript Highlights:

• </c> reasonable retirement benefit. reasonable retirement benefit.
• unreduced um retirement age of age 60. unreduced um retirement age of age 60.
• Working on this, helping the board set up the program was intriguing to me, so I came out of retirement
• </c> choice board uh present her testimony. choice board uh present her testimony.
• In that role, we sit on the board, and I'm currently the board chair.

Transcript Highlights:

• Board of Trustees, Elections, House Bill 18. Retirement.
• board, authority of the board, 19.
• Retirement.
• House Bill by Representative DeWitt, Firefighters Retirement System, Board of Trustees, term limits,
• House Bill by Representative Berault, Assessor's Retirement Fund, cost of living, authority of the Board

Summary: The House convened with a quorum, opened with prayer and the Pledge of Allegiance, and then received and processed multiple resignation notices and special-election proclamations for vacant seats. The chamber later recognized and swore in newly elected members Doyle Boudreaux, Reese Broussard, Chassity Verrett-Martinez, and Edwin Murray after no objections were raised to their qualifications. The House also appointed committees to notify the Senate and the governor that it was ready to conduct business for the 2026 regular session, and it adopted the proposed standing committee meeting schedule and referred prefiled bills to committee without objection. The bulk of the meeting was devoted to the introduction and reading of a very large number of House bills and resolutions across many subject areas. Measures included the annual appropriations bill, a proposed constitutional convention, carbon dioxide sequestration and pipeline permitting, retirement-system changes, criminal justice and public safety proposals, education and workforce measures, local government and district creation bills, insurance and liability reforms, and numerous commemorative resolutions. Several prefiled bills were withdrawn, and many introduced measures were assigned to committees or allowed to lie over under the rules. The House then entered a joint session with the Senate for the governor’s address. Governor Jeff Landry outlined his administration’s priorities and praised recent legislative actions on taxes, insurance reform, transportation, education, and fiscal discipline. He urged support for Amendment 3 on teacher pay and retirement, called for further workforce and health initiatives, defended insurance and transportation reforms, and pressed for judicial reform, especially in Orleans Parish, citing the death of Jacob Carter and failures in electronic monitoring as examples. He also promoted replacing the vehicle inspection sticker with a QR code system and highlighted economic growth, lower taxes, and infrastructure investments. The joint session also included a presentation of the colors by the Louisiana National Guard and a Distinguished Flying Cross ceremony for Technical Sergeant Adam W. Brister, recognizing his 2018 rescue mission in Alaska. After the governor’s remarks and the military honor presentation, the joint session concluded and the House resumed introducing additional bills, continuing to file measures on topics such as health care, education, ethics, elections, local districts, and constitutional amendments.

Transcript Highlights:

• Looks like the Educational Retirement Board is here this morning, Mr.
• Retirement Board. And to my right is Mr. Bob Jackshaw, our Chief Investment Officer.
• And then obviously, this system will be implemented by the Education Retirement Board.
• building or the Education Retirement Board could own its own building.
• Education Retirement Board employer.

Committee: House Investments & Pensions Oversight Committee

Transcript Highlights:

• I'm on the MEPERS board.
• At some point, they would completely retire and draw full retirement benefits.
• The board is clear. Seeing no question? The board is clear.
• They might be retiring. They might be retired, they might not be retired.
• Employee Retirement System.

Committee: Senate Retirement

Summary: The Senate Committee on Retirement met on May 5 with four members present. HB 41 was deferred until the following week, and the committee approved the April 20, 2026 minutes. The committee then took up several retirement-system bills, many of them negotiated measures involving municipal police, firefighters, teachers, district attorneys, and judges. HB 45, by Rep. Bacallat, was amended and reported favorably. It makes changes to the Municipal Police Employees Retirement System, including retention bonuses, recognition of out-of-state police service, benefits for three officers killed in the line of duty before full enrollment, a DROP fix, and more competitive accrual rates. Testimony from the Louisiana Municipal Association, MEPERS, police representatives, and Mayor Helena Marino was strongly supportive, emphasizing that the bill resolves longstanding disputes and litigation. HB 1237, also by Rep. Bacallat, was reported favorably after testimony that it eliminates partial dissolution penalties for municipal police and adjusts related firefighter provisions; witnesses said it was a negotiated fix supported by municipal and fire stakeholders. HB 42, concerning phased retirement in the Teacher Retirement System, was reported favorably as a permissive framework allowing universities to offer phased retirement options. HB 17, by the District Attorneys’ Retirement System director, was reported favorably to add the Louisiana District Attorneys Association to the definition of employer and require annual reporting on the rehire statute. HB 21, a cleanup bill for the Municipal Employees Retirement System, was also reported favorably. HB 1134, creating a backdrop retirement option for certain judges whose positions are abolished, was amended and reported favorably after LASERS raised questions about early retirement eligibility and the need to bar future judicial candidacy. HB 24, by Rep. Owen, drew the most discussion. It would allow retired or certified teachers to return to work through contracts with school systems, with a three-year sunset. The sponsor argued it would help keep qualified teachers in classrooms and avoid midyear departures, while TRSL, the Louisiana School Board Association, and committee members raised concerns about fiscal impact, contractor status, workers’ compensation, leave rules, and overlap with a separate bill being worked on by the chairman. After an amendment clarifying the independent-contractor definition was adopted, the committee chose to hold the bill in committee for further work rather than advance it immediately. The meeting ended with a motion to adjourn.

Transcript Highlights:

• </c> to the retirement system. to the retirement system.
• </c> are retired. are retired.
• Is anyone who didn't committee heard any official position of the retirement board of the retirement
• </c> be a school board? be a school board?
• . board. board.

Transcript Highlights:

• </c> to the board that the board typically to the board that the board typically passes<00:26:01.200>
• We recommended the board approved Empower Retirement as the third-party administrator.
• </c> years or retirement years. years or retirement years.
• There is a PERS elected board that is elected by retirees and people in the PERS retirement system.
• The board did that.

Committee: Joint Finance

Transcript Highlights:

• I would like to go to our Educational Retirement Board.
• So, Educational Retirement Board final update and legislative proposals. Mr.
• My name is David, and I am the Executive Director of the Educational Retirement Board.
• Board changes to both active and retired members, including reduced COLAs and additional tiers created
• As Director Archuleta stated, I am Jacob Moll, the General Counsel for the Educational Retirement Board

Committee: House Investments & Pensions Oversight Committee

Transcript Highlights:

• I've been with the retirement system for 25 and 1/2 years, and I worked for the board and two executive
• The board has nothing to do with education in Kentucky other than to administer the retirement system
• ><c> retire.
• </c> ready to retire. ready to retire.
• </c> their retirement. their retirement.

Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.

Transcript Highlights:

• Board...
• Board...
• Board.
• Board.
• Board.

Transcript Highlights:

• in 2021 and the City of Austin Employee Retirement Fund in 2023.
• My name is Doug Fowler, and I'm a trustee on the Austin Firefighters Retirement Fund Board, as well as
• My name is Doug Fowler, and I'm a trustee on the Austin Firefighters Retirement Fund Board, as well as
• Both the Union and Retired Firefighters Association support this bill, and most active and retired Austin
• The board of the Austin Retired Firefighters Association stands together in support of this bill.

Bills: SB771 , SB2345 , HB135 , HB135

Committee: Senate Finance

Summary: The Senate Finance Committee heard Senate Bill 2345, as a committee substitute, which would reform the Austin Firefighter Retirement Fund. Senator Schwertner explained that the bill is based on an agreed voluntary funding soundness restoration plan between the City of Austin and the fund, and would create a new reduced benefit tier for firefighters hired on or after January 1, 2026, adjust COLAs for current retirees, establish an actuarially determined funding model to address legacy liabilities and 2024 asset losses over 30 years, and add new board seats. Mayor Kirk Watson, city finance staff, the fund executive director, trustees, and retired firefighters all testified in support, describing the measure as an agreed-to, fiscally responsible compromise that protects benefits, supports recruitment, and reduces risk to taxpayers. The committee adopted the committee substitute, but left SB 2345 pending. The committee also heard House Bill 135, which clarifies tax treatment for exotic game or exotic livestock operations by defining them within agricultural exemptions and stating that sales of exotic livestock are not subject to sales and use taxes. Senator Flores described it as a clarification to provide consistency and fairness, and a witness for the Exotic Wildlife Association said it would resolve a Comptroller-related tax issue and benefit ranchers, landowners, and hunters. The committee closed public testimony and reported HB 135 favorably to the full Senate, with a motion to place it on the local and uncontested calendar. Senate Bill 771, by Senator Hinojosa, was also heard and later reported favorably. The bill would allow diesel fuel used in auxiliary power units or power takeoff units to qualify for the same fuel tax credit or refund already available for gasoline, correcting an inadvertent exclusion from the 2003 motor fuel tax rewrite. A witness supported the bill as a matter of tax equity. The committee then considered House Bill 1109, the House companion to SB 935, which exempts counties from certain motor fuel taxes on fuel used in county vehicles; Senator Hall explained it as simply exempting government agencies from paying the tax on their own vehicles. HB 1109 was reported favorably to the full Senate. The committee adjourned after completing its business.

Transcript Highlights:

• I sit on the registrars of voters' retirement board, and this is a cost-of-living adjustment.
• system boards.
• Senate Bill 16 mostly reduces the total annual education requirements for retirement system board trustees
• System, Senate Bill 16, mostly reduces the total annual education requirements for retirement to board
• Louisiana Gaming Control Board.

Bills: SB8 , SB10 , SB11 , SB12 , SB13 , SB14 , SB16 , SB17 , SB18 , SB20 , SB21 , SB22 , SB416 , SB455 , SB456 , SB477

Committee: House Retirement

Summary: The Retirement Committee met on April 29, 2026, established a quorum, and heard a series of retirement-related bills, mostly cleanup or technical measures affecting various public retirement systems. SB 22 would extend Municipal Employees Retirement System eligibility to certain positions in the Second City Court constable’s office in New Orleans. SB 17 would create a funding deposit account for cost-of-living adjustments for registrars of voters’ employees’ retirement system. SB 455 would allow certain district and parish courts to participate in the Parochial Employees Retirement System. SB 456 would update compensation rules for assigned retired judges, and SB 8 would add the Louisiana Asset Management Pool as a participating employer in MERS. All of these bills were described as aligning statutes with current practice or expanding participation options, and each was reported favorably without objection. The committee also heard several Louisiana State Police retirement bills. SB 10 would repeal outdated priority allocation and retiree raise rules and adjust handling of surplus employee contributions; SB 11 would increase the funding cap for benefit increases from 2.5% to 3.5%; and SB 12 would update membership and definition language to reflect the State Police Commission rather than the Civil Service Commission. SB 18 would repeal a special exception allowing certain MERS retirees to return to part-time work while collecting full benefits, while protecting roughly 30 current participants. SB 20 and SB 21 would update actuarial gain/loss and unfunded liability funding rules for school employees’ retirement and LASERS, respectively, in light of the new permanent benefit increase funding structure. Each of these bills was supported by system officials as cleanup or modernization measures and was reported favorably. The committee spent the most time on education and return-to-work issues for teachers and public employees. SB 16 would reduce annual trustee training requirements for retirement system boards from 16 hours back to 12 hours, which witnesses said would better fit smaller systems and match the original intent of the law. SB 13 would similarly update TRSL’s actuarial funding rules after the sunset of the experience account. SB 14, based on a 2025 study work group, would consolidate and simplify TRSL return-to-work rules and expand options for retired teachers, with witnesses emphasizing teacher shortages and the need to retain experienced educators. All three were reported favorably. Finally, SB 416 would allow certain Department of Public Safety and Corrections retirees to return to critical shortage positions after one year, and SB 477 would classify the chairman of the Louisiana Gaming Control Board as a full-time state employee for retirement purposes. Both bills drew questions and discussion, especially SB 416, and both were reported favorably. The chair announced the committee’s next meeting would be moved from Monday to Tuesday, and the meeting adjourned.

Transcript Highlights:

• What age are people retiring at?
• 2 retirement age.
• together boards.
• together boards.
• I mean, I that only have a county board or they may have put together boards, I don't know.

Committee: Joint Select Committee on Pension Policy

Summary: The committee first approved the November minutes by roll call vote, with a majority of members voting aye and some members excused. Staff then provided brief litigation updates: Fowler et al. v. Leathers remains pending in federal district court over interest calculations on transferred TERS funds, with summary judgment motions expected to be heard May 1; Dolan v. King County was decided against the state in Pierce County Superior Court on the issue of recouping attorney’s fees from a former PERS member, though no fees were assessed against the state in that case. An actuarial update noted upcoming presentations on the agency’s work and the latest valuation report, including new contribution rates reflecting updated demographic assumptions. The committee then reviewed its draft interim work plan and correspondence items, focusing on requests related to Plan 3, Plan 1 COLAs, teacher retirement age, and a missed early retirement factor. Members discussed a possible study of Plan 3’s design and outcomes compared with Plan 2, including retirement ages and benefit adequacy, and staff was asked to work with DRS on a study outline. The committee also discussed ongoing COLA requests and the need for retiree groups to bring forward a more formal proposal for the next budget cycle, with members noting that any recommendation should likely be made by October or November. Another major topic was the study of LEOFF 1 medical/disability boards, including how many boards exist, how they operate, and what costs they incur; staff said it was still gathering basic information and would provide an overview next month. Staff also explained planned changes to how correspondence will be handled and posted online due to cybersecurity concerns. The committee approved the May agenda by voice vote and then adjourned.