LEGISLATIVE SESSION: Lawmakers look to retirees to
help with teacher shortages
Since the 2022 Regular Legislative Session convened on March 14, TRSL has been keeping an eye on a number of bills that impact the System and its members. See below for an overview of the topics most notable to employers:
Return to work (RTW) – Eight bills focused on the state’s RTW laws have been filed to help address the current teacher shortage in Louisiana.
- While legislators in both chambers have put forth a variety of proposals, all are aimed at bringing more retired teachers back in to the classroom.
- Other proposed changes would relax the current requirements for school districts to hire RTW retirees.
- Several bills have sunset dates, essentially stipulating that the proposed changes would be temporary as the state looks for ways to attract more people to the teaching profession.
- A listing of all RTW bills can be found on our website.
Optional Retirement Plan (ORP) – Certain employees in higher education can make an irrevocable election to participate in the ORP, which is a defined contribution retirement plan similar to a 401K plan, rather than join TRSL.
- Senate Bill 10 (Sens. Morris and Luneau) would allow ORP members who are active and contributing to the ORP by May 1, 2022, to transfer to the TRSL defined benefit plan on an actuarial basis.
- ORP members would have until June 3, 2028, to transfer and pay the actuarial cost of receiving service credit for their years of ORP participation.
Other legislative topics affecting TRSL
This year’s session also includes bills authorizing the first permanent benefit increase for retirees in six years and additional payments toward the unfunded accrued liability (UAL).
Check out the Legislation page of our website to learn more about all the bills we’re monitoring, including their current status and the TRSL Board’s position on them.