House Bill No. by Representative Bagley amends the provisions related to the reemployment of retirees in the Teachers' Retirement System of Louisiana. The bill increases the earnings limit for retirees returning to work from 25% to 100% of their final average compensation during a fiscal year. If retirees exceed this new limit, their benefits will be reduced accordingly. Additionally, retirees who return to active service within three months of retirement will have their benefits suspended for the duration of their reemployment or until the three-month period ends, whichever comes first.

The proposed law also stipulates that any costs associated with these changes must be funded through additional employer contributions, in compliance with the Louisiana Constitution. Overall, the bill aims to provide more flexibility for retirees seeking reemployment while ensuring that the financial implications are managed through increased contributions from employers.

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