ENROLLEDHCAHB42 4267 2524 HOUSE COMMITTEE AMENDMENTS Regular Session HOUSEAmendments BILLproposed NO.by House Committee on Retirement to Original House Bill No.

42 BYby REPRESENTATIVESRepresentative BACALA,Bacala ADAMS,AMENDMENT BOUDREAUX,NO. BROUSSARD, CARPENTER, WILFORD CARTER, EDMONSTON, FREEMAN, FREIBERG, DANAHENRY,MIKEJOHNSON,LAFLEUR,MARCELLE,MILLER,MOORE, MURRAY, STAGNI, TAYLOR, AND WYBLE AN ACT To amend and reenact R.S.

11:927(B)(2)(c)(i)1 andOn (d)page and1, (F)(2)line and2, toafter enact"R.S. R.S.

11:79111:791" delete the comma "," and 927(B)(2)(b)(iii)andinsert "and R.S.

17:3357,17:3357," relativeAMENDMENT toNO. the Teachers'Retirement System of Louisiana;

to2 provideOn forpage the1, creationline of6, andafter participation"fees;" inand abefore phased"and" retirementinsert program;the following:

to"toauthorizeeachpublicpostsecondaryeducationmanagementboardtodevelopand provideimplement relativea tophased benefits;retirement program;

to provide relativethat tosuch participantprogram andis employersubject contributions;to board policy;

to provide relative to the payment of certain administrative fees;toauthorizeeachpublicpostsecondaryeducationmanagementboardtodevelop andimplementaphasedretirementprogram;toprovidethatsuchprogramissubject to board policy;

to provide for implementation;implementation;" AMENDMENT NO.

3 On page 1, line 15, after "his" and tobefore provide"institution" forinsert related"public matters.postsecondary education" AMENDMENT NO.

Notice4 ofOn intentionpage to2, introducebetween thislines Act26 hasand been27, publishedinsert as provided by Article X, Section 29(C) of the Constitutionfollowing: of Louisiana.

Be"Section it2. enacted by the Legislature of Louisiana:

Section 1.

11:927(B)(2)(c)(i) and (d) and (F)(2) are hereby amended and reenacted and R.S.

11:791 and 927(B)(2)(b)(iii) are herebyenacted to read as follows:

§791.

Phased retirement program A.

Anymemberofthis systemwhoqualifiesforphasedretirementpursuant to the policy governing his public postsecondary education institution and who has been approved for participation in a phased retirement program in accordance with such policy shall apply for retirement as otherwise provided in this Chapter.

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42 ENROLLED B.

For the duration of his participation in the employer's phased retirement program, the participant shall receive a reduced retirement benefit.

This reduced retirement benefit shall be based on the full regular benefit amount for which he wouldhavebeeneligibleatthecommencementofhisparticipationintheemployer's phased retirement program, reduced by the percentage of work effort to be performed by the participant as set forth in the approved documents governing his participation in his employer's phased retirement program.

Upon completion of participationintheemployer'sphasedretirementprogram,theparticipantshallbegin receiving his full regular retirement benefit.

C.

During the time that a participant receives a benefit pursuant to this Section, the participant and the employer shall not pay contributions to the defined benefit plan, and the participant's benefit, average compensation, and creditable service shall remain fixed as they existed on the date of commencement of participation in his employer's phased retirement program.

D.

The employer of any participant in a phased retirement program shall notify the system of the terms of the participant's phased retirement, including the start date, length of the phased retirement, final termination date, and percentage of work effort to be performed bythe participant.

The employer and participant shall notify the system upon the completion or termination of the phased retirement program.

* * * §927.

Contributions * * * B.(1) * * * (2)(a) * * * (b) Beginning July 1, 2018, each constitutionally established board which manages public postsecondaryeducation institutions and each employer institution and agency under its supervision and control shall contribute to the Teachers' Page 2 of 5 CODING:

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42 ENROLLED Retirement System of Louisiana on behalf of each participant in the optional retirement plan the sum of:

* * * (iii) BeginningJuly1,2026,anamountequaltooneandeight-tenthspercent of pay, subject to appropriation.

The Board of Regents shall notify the Teacher's RetirementSystemofLouisianawhetherornotfundshavebeenappropriatedforthis purpose by the beginning of each fiscal year.

(c)(i) Eachboardmayestablishbyresolutionanamountinexcessofthesum of the amounts required by Items (b)(ii) and (iii) minimum required by Item (b)(ii) of this Paragraph.

The amount established shall be the same for all employer institutions and agencies under each board's supervision and control and shall be effective for an entire fiscal year.