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, their retirement benefits will be reduced accordingly. Additionally, retirees employed full-time can opt to switch to a different compensation option at any time before or after reaching the new earnings threshold, with provisions for refunding employee contributions made prior to this change.

The bill also stipulates that any costs associated with these changes must be funded through additional employer contributions, in accordance with the Louisiana Constitution. Overall, the proposed law aims to provide greater flexibility for retired teachers seeking reemployment while ensuring that the financial implications are managed appropriately.

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