Louisiana Senate Bill SB31

Louisiana 2012 Regular Session

• Introduced: 3/12/12
• Refer: 3/12/12
• Report Pass: 3/26/12
• Engrossed: 3/28/12
• Refer: 3/29/12
• Report Pass: 4/30/12
• Enrolled: 5/22/12
• Chaptered: 5/25/12
• Passed: 5/25/12

Caption

Provides for purchase of service credit and membership in the Teachers' Retirement System. (7/1/12) (EN INCREASE FC SG RV)

Impact

The impact of SB31 on state laws is significant as it expands the rights of charter school teachers within the existing retirement system. By allowing these educators to purchase retroactive service credit, the bill aims to enhance the appeal of charter school employment, potentially attracting a larger pool of qualified teachers. This change may also serve to equalize benefits across various types of educational institutions in Louisiana, thereby reinforcing the status of charter schools within the broader educational framework of the state. However, the repeal of Act 999 from the 2010 Regular Session, which previously classified charter school teachers differently, signifies a shift towards standardizing retirement benefits for all teachers regardless of the type of institution in which they work.

Summary

Senate Bill 31 (SB31) aims to amend provisions of the Teachers' Retirement System of Louisiana regarding the eligibility of charter school teachers to purchase service credit. This bill specifically allows members of the retirement system to establish credit for their teaching service in charter schools, nonpublic colleges or universities, and state-approved nonpublic or parochial schools in Louisiana. The bill proposes that if a member is eligible to retire at the time credit is established, they must pay an amount equivalent to the present value of the additional retirement benefit they would receive based on their service in these educational institutions. Conversely, if a member is not eligible to retire, they will also have the opportunity to pay into the system to establish credit for their service for future benefits.

Sentiment

Overall, the sentiment surrounding SB31 appears to be positive among lawmakers and educational stakeholders who advocate for equalization of retirement benefits for charter school teachers. Proponents argue that the bill acknowledges the contributions of charter educators and fosters a more inclusive educational workforce. Nevertheless, discussions might also reveal concerns from some groups about possible long-term financial implications for the retirement system and the sustainability of such benefits across different educational models within Louisiana.

Contention

Notable points of contention may arise regarding the financial viability of allowing charter school teachers to purchase service credits and how this would affect the overall funding of the Teachers' Retirement System. Critics may argue that this provision could lead to increased liability for the state and complicate the financial landscape for the retirement system. Additionally, questions may emerge about whether the inclusion of charter school teachers in the retirement plan will lead to equitable treatment compared to those teaching in traditional public schools or if it will result in disparities in benefits that could impact the attractiveness of various teaching positions.