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  • 2022 Louisiana Legislative Session

2022 Legislative Bills Impacting LASERS

The 2022 Regular Session of the Louisiana Legislature convened March 14 and ends June 6. The following proposed retirement bills would impact LASERS if passed. The LASERS Board of Trustees’ positions are noted on each piece of legislation. Please check back often during the session for updates on the retirement bills and visit the Louisiana State Legislature Website for specific information.

Updated: 05.13.22

Impacts LASERS

SB 5 – Price Position Taken: Support
Systems Impacted: LASERS
LASERS Sponsored
Provides a nonrecurring supplemental payment to eligible LASERS retirees and beneficiaries. For detailed information, visit the One-Time Payment webpage.

  • Senate Retirement – Reported Favorably as Amended
  • Referred to Senate Finance
  • Senate Floor – Amended and Passed (Y:35/N:0)
  • House Retirement – Reported Favorably
  • House Appropriations – Set for Hearing on May 16, 2022
SB 438 – Price, Rep. Bacala Position Taken: Support
Systems Impacted: LASERS
LASERS Sponsored
Creates a new bi-partisan, LASERS-specific retirement plan with a Defined Benefit (DB) foundation and a Defined Contribution (DC) add-on. This new plan would be for LASERS rank-and-file members hired on or after January 1, 2024. The plan does include a provision allowing the new hires to opt-in to the traditional DB plan within two years of hire. For detailed information, visit the New Retirement Plan page.

  • Senate Retirement – Motion to move bill favorably failed 3-3. Bill remains in committee.
HB 19 – DeVillier Position Taken: Support
Systems Impacted: LASERS
Provides relative to membership in the LASERS Hazardous Duty Services Plan by adding employees of the Office of the State Fire Marshal who are Firefighter I certified and who provide emergency response, or who conduct fire and emergency training to the LASERS Hazardous Duty Services Plan.

  • House Retirement – Reported Favorably
  • House Floor – Passed (Y:96/N:0)
  • Senate Retirement – Reported Favorably as Amended
  • Senate Floor – Scheduled for May 15, 2022
HB 25 – McCormick Position Taken: Oppose
Systems Impacted: State and Statewide
Prohibits retirement systems from investing in companies with policies that prohibit doing business with or investing in energy companies.

  • House Retirement – Amended and Voluntarily Deferred
HB 29 – Nelson Position Taken: Support
Systems Impacted: State
Constitutional Amendment
Proposes a constitutional amendment that, if approved by voters on November 8, 2022, would require a minimum of 50 percent of all nonrecurring state revenues be applied to the Unfunded Accrued Liabilities (UALs) of LASERS, TRSL, LSERS, and LSPRS beginning in FY 23-24.

  • House Appropriations – Reported Favorably
  • House Civil Law and Procedure – Reported Favorably as Amended
  • House Floor – Scheduled for May 16, 2022
HB 31 – Tarver, P.
Position Taken: Support
Systems Impacted: State
Constitutional Amendment
Proposes a constitutional amendment that, if approved by voters on November 8, 2022, would direct nonrecurring state revenue funds to provide a nonrecurring lump-sum payment to eligible retirees of the systems. The appropriation for such benefit would be a total of either $50 million or the balance of nonrecurring funds after allocations are made against Unfunded Accrued Liabilities (UALs) and for the Budget Stabilization Fund, whichever is less.

  • House Appropriations – Reported Favorably as Amended
  • House Civil Law and Procedure – Reported Favorably as Amended
  • House Floor – Scheduled for May 16, 2022
HB 32 – Tarver, P.
Position Taken: Support
Systems Impacted: State
Requires the Public Retirement Systems’ Actuarial Committee (PRSAC) to report to the legislature regarding the number of retirees who are eligible for the supplemental benefit provided for by HB 31.

  • House Retirement – Reported Favorably as Amended
  • House Floor – Subject to Call
HB 592 – Zeringue
Position Taken: Support
Systems Impacted: State
Makes supplemental appropriations for Fiscal Year 2021-2022 – allocates an additional $21.8 million to LASERS to apply to the balance of the Unfunded Accrued Liability.

  • House Appropriations – Reported Favorably as Amended
  • House Floor – Amended and Passed (Y:97/N:1)
  • Senate Finance – Set for Hearing on May 15, 2022

Of Interest to LASERS

HCR 11 – Johnson
Position Taken: Support
Systems Impacted:
Urges and requests the legislatures of each state of the United States to pass similar resolutions calling upon Congress to support actions as necessary to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).

  • House Retirement – Reported Favorably
  • House Floor – Adopted (Y:96/N:0)
  • Senate Retirement – Reported Favorably as Amended
  • Senate Floor – Adopted (Y:35/N:0)

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