Bill > HB20

This bill modifies the rules for retirees of the Teachers' Retirement System of Louisiana (TRSL) who return to active service after retiring on or after July 1, 2020. Specifically, it increases the amount a retiree can earn in reemployment from twenty-five percent to one hundred percent of their final average compensation (their average salary over a certain period before retirement) without their retirement benefits being reduced. If a retiree earns more than this new limit, their benefits will be reduced by the excess amount. The bill also allows retirees to switch to a different reemployment option at any time, even after exceeding the earnings limit, and clarifies that employee contributions made before switching options will be refunded, potentially reduced by any excess earnings. Furthermore, it shortens the period during which a retiree's benefits are suspended if they return to active service from twelve months to three months after their retirement date. The cost of this bill will be covered by additional employer contributions.

https://www.legis.la.gov/legis/BillInfo.aspx?s=26rs&b=HB20&sbi=y