House Bill No. by Representative Moore amends the Teachers' Retirement System of Louisiana to modify the reemployment conditions for retired teachers. Specifically, the bill increases the earnings limit for retired teachers who return to work from 25% to 50% of their final average compensation during a fiscal year. If a retiree's earnings exceed this new limit, they will face a reduction in their retirement benefits. Additionally, the bill allows retirees employed in full-time positions to opt for a different benefit option at any time before or after reaching the new earnings threshold, with provisions for refunding employee contributions made prior to this change.

The proposed law retains the existing framework of the retirement system while enhancing the financial flexibility for retired teachers seeking reemployment. It also stipulates that any costs associated with these changes must be covered by additional employer contributions, in accordance with the Louisiana Constitution. This legislative change aims to support retired educators by allowing them to earn more while still receiving their retirement benefits.

Statutes affected:
HB20 Original: 11:1(A)(1)