The original instrument was prepared by Margaret M. Corley. The following
digest, which does not constitute a part of the legislative instrument, was prepared
by Nancy Vicknair.
DIGEST
Guillory (SB 19)
Present law, relative to the Louisiana School Employees' Retirement System (LSERS), provides
for the accumulation of certain system funds in an "experience account". Provides for utilization
of these funds for benefit increases, commonly called "cost-of-living adjustments" (COLAs), for
retirees, survivors, and beneficiaries of the system. Provides for determination of eligibility for
and the amount of an increase paid with these funds.
Present law provides for notification of the legislature by the LSERS board of trustees that the
conditions for granting a COLA contained in present law have been met.
Present law requires the legislature to approve any COLA.
Proposed law retains present law and approves a COLA to be paid July 1, 2014, pursuant to the
provisions of present law.
Proposed law states that if any of the instruments which originated as Senate Bill No. 16, Senate
Bill No. 18, Senate Bill No. 21, or House Bill No. 1225 of the 2014 Regular Session of the
Legislature does not become effective, then proposed law shall be null and void and of no effect.
These bills are for the retirees of State Police Retirement System, Louisiana State Employees'
Retirement System, and Teachers' Retirement System of Louisiana.
Effective June 30, 2014.
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Retirement to the original
bill
1. Makes the COLA for LSERS effective only if the COLA for the other three state
retirement systems are effective. The three other state retirement systems are
Louisiana State Employees' Retirement System, Teachers' Retirement System of
Louisiana, and State Police Retirement System.
Senate Floor Amendments to engrossed bill
1. Adds House Bill No. 1225 to Senate Bill Nos. 16, 18, and 21 as the instruments
requiring enactment in order for the COLAs to become effective.