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Acts of the 2012 Regular Legislative Session
For complete information and positions taken by LASERS Board on the 2012 Legislative Session, see the detailed list.
Act 483 (HB 61) creates a cash balance plan for non-hazardous duty new hires. The plan applies to members whose first employment occurs on or after July 1, 2013. Enaction of the plan has been challenged in court. For more information about the lawsuit, click here.
Act 113 (SB 48) adds the Commissioner of Administration, or his designee, to the boards of trustees of LASERS, the Teachers’ Retirement System of Louisiana (TRSL), and the Louisiana School Employees’ Retirement System (LSERS).
Act 224 (SB 2) allows the Chairs of the House and Senate Retirement Committees, who sit as ex officio members of retirement system boards, to designate legislative staff members to attend executive session meetings of the boards.
Act 718 (SB 16) increases educational requirements for retirement system board members. It also allows members of the Optional Retirement Plan (ORP) to regain membership in the defined benefit plan.
Act 868 (HB 9) and Act 479 (HB 10) authorizes the forfeiture of all or part of the benefits from a public retirement system by any member who is convicted of a felony associated with and committed during state service. Enacted by passage of Constitutional Amendment No. 5 in November 6, 2012 election.
Act 872 (SB 21) provides that all retirement bills that are required to be pre-filed, must be pre-filed on the 45th calendar day prior to the first day of a regular session. Further, public notice of retirement bills must be published at least 60 days prior to their introduction. Enacted by passage of Constitutional Amendment No. 3 in November 6, 2012 election.
Act 800 (HB 754) is a sales and use tax rebate bill that would direct certain funds to the Unfunded Accrued Liability.
Act 597 (HB 822) took over $3.7 million from the Adult Probation & Parole Officer Retirement Fund.
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