HLS 12RS-3764 ORIGINAL
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Regular Session, 2012
HOUSE CONCURRENT STUDY REQUEST NO. 3
BY REPRESENTATIVE PEARSON
RETIREMENT/COLAS: Study funding for cost-of-living adjustments for retired members
of state systems
A CONCURRENT STUDY REQUEST1
To direct the House Committee on Retirement and the Senate Committee on Retirement to2
meet and to function as a joint committee to study alternative funding mechanisms3
for cost-of-living adjustments for retired members of the state retirement systems and4
to report the findings of the joint committee to the legislature prior to the convening5
of the 2013 Regular Session of the Legislature of Louisiana.6
WHEREAS, inflation and increased cost-of-living expenses take a toll on all citizens;7
and 8
WHEREAS, this toll is felt most acutely by persons who are retired, as their final9
salary which determines their fixed income benefit is likely out of step with today's cost of10
living; and11
WHEREAS, the funding mechanism in place now for cost-of-living adjustments in12
the four state retirement systems has the unintended consequence of hampering the systems'13
recovery from severe market downturns as were suffered in 2008; and14
WHEREAS, our state retirement systems and our retirees from such systems are15
suffering; and16
WHEREAS, for those citizens who dedicated their careers to the service of the state17
and are retired from one of our state systems, it is incumbent upon the legislature to find a18
way to fund cost-of-living adjustments for these members in a manner that does not19
jeopardize the funded status of the retirement systems.20 HLS 12RS-3764 ORIGINAL
HCSR NO. 3
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THEREFORE, the Legislature of Louisiana requests the House Committee on1
Retirement and the Senate Committee on Retirement to meet and to function as a joint2
committee to study funding mechanisms for granting cost-of-living adjustments and to report3
the findings of the joint committee to the legislature prior to the convening of the 20134
Regular Session of the Legislature of Louisiana. 5
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Pearson HCSR No. 3
Requests the House Committee on Retirement and the Senate Committee Retirement to meet
and to function as a joint committee to study funding mechanisms for granting cost-of-living
adjustments and to report the findings of the joint committee to the legislature prior to the
2013 R.S.