Relative to Teachers' Retirement System of Louisiana membership. (6/30/18) (EN NO IMPACT APV)
Impact
The impact of SB6 on state laws is primarily focused on the governance of retirement systems, providing a clearer legislative framework for the membership requirements that pertain to both the Teachers' and Clerks' of Court retirement systems. This may contribute to a better understanding and smoother administration of retirement benefits for those employees, potentially leading to improved retirement security among impacted groups. Such changes may also enhance the recruitment and retention of qualified personnel in clerk positions by making retirement benefits more accessible and understandable.
Summary
Senate Bill 6 aims to amend and reenact provisions related to the Teachers' Retirement System of Louisiana, particularly concerning membership requirements for members who are employed in positions covered by the Clerks' of Court Retirement and Relief Fund. This bill establishes clarifications regarding the membership criteria that apply to specific categories of state employees associated with these retirement systems. By refining the language surrounding membership, the bill seeks to ensure that individuals in eligible clerk positions are afforded proper consideration under the Teachers' Retirement System.
Sentiment
Overall sentiment surrounding SB6 appears to be positive among legislators, as evidenced by the unanimous support during voting, with 36 yeas and no nays. The absence of dissenting voices suggests that there was broad agreement on the importance of clarifying membership requirements in the context of retirement benefits. Proponents likely view the bill as a necessary step to ensure that the retirement systems function effectively and provide necessary support for employees.
Contention
While there does not seem to be major contention around SB6, any adjustments to retirement systems can sometimes raise concerns among stakeholders about potential unintended consequences or impacts on existing benefits. However, the lack of opposition during the voting process indicates that, for this specific bill, any points of contention may have been adequately addressed prior to the voting, thus facilitating smooth passage through the legislature.
Provides relative to payment of initial unfunded accrued liabilities to the Teachers' Retirement System of Louisiana by the Legislature of Louisiana (OR NO IMPACT APV)