Senate Bill No. by Senator Price amends the educational requirements for members of the boards of trustees of various Louisiana public retirement systems. The bill modifies the annual training hours required for trustees, reducing the total hours from 16 to 12. Specifically, the required hours for investment training are decreased from eight to seven hours, actuarial science education from four to two hours, and education on the laws, rules, and regulations applicable to the system from two hours to one hour. The instruction on fiduciary duty and ethics remains unchanged at two hours.

The bill retains the existing framework for educational requirements while streamlining the training hours to make it more manageable for trustees. The changes are set to take effect on August 31, 2026, ensuring that new members elected or appointed to the board after June 1 will only need to comply with the provisions outlined in the bill.

Statutes affected:
SB16 Original: 11:185(D)(3)