Guillory (SB 21) Act No. 104
Prior law, relative to the Teachers' Retirement System of Louisiana (TRSL or Teachers'),
provided for the accumulation of certain system funds in an "experience account". Provided
for utilization of these funds for permanent benefit increases (PBIs), sometimes referred to
as cost-of-living adjustments or COLAs, for retirees, survivors, and beneficiaries of the
system. Provided for determination of eligibility for and the amount of an increase paid with
these funds.
Prior law provided for notification of the legislature by the TRSL board of trustees that the
conditions for granting a PBI contained in prior law have been met.
Prior law required the legislature to approve any PBI.
New law retains prior law and approves a PBI to be paid July 1, 2014, pursuant to the
provisions of prior law.
New law states that if any of the instruments which originated as SB 16, SB 18, SB 19, or
HB 1225 of the 2014 RS does not become effective, then new law shall be null and void and
of no effect.
Effective June 30, 2014.