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As required by the Constitution the Louisiana Legislature holds a Legislative Session each year. It can also hold Special Legislative Sessions that are traditionally called by the Governor. LSERS is committed to providing information on legislation that affects the system and its members. Visit the Louisiana State Legislature website for more information on legislation.
2024 Regular Legislative Session |
The Regular Session of the Louisiana Legislature convenes at noon on Monday, 3/11/2024 and adjourns at 6 p.m. on Monday, 6/3/2024. |
The following bills affecting LSERS and its members have been filed. For more information regarding each Bill, please click on the Bill number link below. |
| Bill Number | Author | Summary | Board Position |
|---|---|---|---|
| SB 1 | Senator Ed Price | Proposed law retains present law regarding the transfer of service credit from one public retirement system to another but clarifies the meaning of "employer contributions" to exclude excess contributions in certain circumstances, such as PBI Funding Contributions. Proposed law provides that the provisions of proposed law may be enforced by the attorney general. Proposed law shall further require that a fiduciary who violates his duty be obligated to pay damages. Effective August 1, 2024. | Support |
| SB 5 | Senator Blake Miguez | Proposed law requires for any public retirement system a fiduciary, in making and supervising investments for the systems, to discharge its duties solely in the financial interest of the participants and beneficiaries for the exclusive purposes of providing financial benefits to participants and their beneficiaries and defraying reasonable expenses of administrating the system, and to take into account only financial factors when discharging its duties with respect to a retirement plan and prohibits financial factors that include any action taken, or factor considered, by a fiduciary with any purpose to further social, political, or governance agendas. It also requires that an investment manager retained by the governing board must be subject to the same fiduciary duties as the board. Proposed law provides that the provisions of proposed law may be enforced by the attorney general. Proposed law shall further require that a fiduciary who violates his duty be obligated to pay damages. Effective August 1, 2024. | Oppose (as originally filed) |
| HB 39 | Rep. Danny McCormick | Proposed law reduces the period of benefit suspension to six months for those bus operators who retired on or before June 30, 2024, and makes present law also applicable to a retiree who returns to work as a part-time bus operator. It also repeals the requirement of the superintendent of an employer who employs a retiree as a full-time bus operator to certify to the State Bd. of Elementary and Secondary Education that a shortage of qualified bus operators exists in the school district. The proposed law requires that any cost of proposed law be funded with additional employer contributions in compliance with Art. X, Sec. 29(F) of the state constitution. | Support (as amended) |
| HB 209 | Rep. Michael Melerine | Proposed law provides relative to the voting of shares held by retirement systems based on advice of a proxy advisory firm. It provides the requirements on a proxy advisory firm, the rights of a consumer and enforcement by the attorney general. | Oppose |
| HCR 20 | Rep. Mike Johnson | Memorializes congress to review and eliminate the provisions of federal law which reduce Social Security benefits for persons receiving pension from federal, state, or local governments by supporting H.R. 82 and S. 597 of the 118th Congress. |
You can sign up to receive email updates about the bills affecting LSERS by entering your email address in the Email Subscription Sign-up box located at the bottom right side of this page.
You also may check the status of any of the bills listed simply by clicking on the bill’s name in the list above. That takes you to Louisiana Legislature’s website that lists the status of the bill, as well as other details about the bill.
Questions? Contact John W. Strange, Executive Counsel, by email jstrange@lsers.net or by telephone at 225.925.6484 or 1.800.256.3718 (if outside the Baton Rouge area).