HLS 20RS-1318 ORIGINAL
2020 Regular Session
HOUSE RESOLUTION NO. 21
BY REPRESENTATIVE HARRIS
RETIREMENT BENEFITS: Requests the state retirement systems to provide information
to the legislature regarding permanent benefit increases for retirees.
1 A RESOLUTION
2To urge and request the state retirement systems to report to the legislature on alternative
3 methods for providing permanent benefit increases to retirees.
4 WHEREAS, the Constitution of Louisiana, the solemn expression of the will of the
5people of this state, charges the legislature with the duty of providing for the retirement of
6employees of the state and of the public educational system; and
7 WHEREAS, the legislature fulfilled this duty by establishing four state retirement
8systems: the Louisiana State Employees' Retirement System, the Teachers' Retirement
9System of Louisiana, the Louisiana School Employees' Retirement System, and the State
10Police Retirement System; and
11 WHEREAS, the benefits that members of these systems earn currently include no
12mechanism that preserves the purchasing power of these earned retirement benefits; and
13 WHEREAS, Louisiana has demonstrated its commitment to actuarially sound
14funding of these retirement systems and has taken meaningful steps to ensure the
15sustainability of the defined benefit plans that replace and do not supplement Social Security
16benefits; and
17 WHEREAS, in furtherance of this commitment, the legislature has acted to increase
18the allocation of system assets toward decreasing debt, increasing funding, transitioning the
19systems to more conservative assumptions, and reducing inter-generational cost shifting; and
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HR NO. 21
1 WHEREAS, as a result, less money accumulates in the special accounts designed to
2fund permanent benefit increases for eligible retirees and other beneficiaries of the systems,
3lengthening the time between increases; and
4 WHEREAS, the last permanent benefit increase, funded from the special accounts,
5was effective July 1, 2016; and
6 WHEREAS, retired teachers' and state employees' benefits were increased by only
71.5% at that time and retired school employees and state troopers received a 2% increase;
8and
9 WHEREAS, recipients of Social Security benefits receive cost-of-living adjustments
10annually, based on the increase in the prices of goods; and
11 WHEREAS, beneficiaries of these four state retirement systems receive no such
12regular cost-of-living adjustments, resulting in the erosion of their purchasing power over
13time.
14 THEREFORE, BE IT RESOLVED that the House of Representatives of the
15Legislature of Louisiana does hereby urge and request the four state retirement systems,
16working together as appropriate, to study alternative mechanisms for providing meaningful
17benefit increases on a regularly scheduled basis, designed to preserve the purchasing power
18of the recipients.
19 BE IT FURTHER RESOLVED that the House of Representatives of the Legislature
20of Louisiana urges and requests the state retirement systems to submit to the House, no later
21than December 1, 2020, a single report of their findings.
22 BE IT FURTHER RESOLVED that a copy of this resolution be sent to the executive
23director of each of the four state retirement systems.
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)]
HR 21 Original 2020 Regular Session Harris
Requests the state retirement systems to report to the legislature on alternative methods for
providing permanent benefit increases to retirees.
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