Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in Louisiana State Association of School Personnel Administrators October 2, 2015
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Investing … in our schools … in our families … in our communities … in our state … in our world Investing … in our schools … in our families … in our communities.
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Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in our communities … in our state … in our world • Investing … in our schools … in our families … in
Louisiana State Association of School Personnel Administrators
October 2, 2015
TRSL at a Glance
FY 2015 FY 2014
Market value of investment assets (net of fees)
$17.057 bln. $17.035 bln.
Investment return (net of fees)
2.8% 19.5%
TRSL at a Glance
K-12 Employer Rates*FY
2016FY
2015FY
2014
Regular Plan 26.3% 28.0% 27.2%
Plan A 31.3% 33.1% 32.6%
Plan B 28.8% 30.1% 29.1%
*Includes Normal Cost & Shared UAL
2015 Legislative Session
Convened: April 13
Adjourned: June 11
2015 Legislative Session
Bills that became law and a study request:
1.Act 149 (Senate Bill 20 - Sen. Gerald Long)
2.Act 57 (House Bill 800 - Rep. Jim Fannin)
3.House Study Request 1 (Rep. Joe Harrison)
Act 149: Return to workWhat it does:
Expands the definition of “retired teacher” to include members who retired on or before June 30, 2010, regardless of whether they returned to work by that date
Adds school counselors, school social workers, and educational diagnosticians to the list of critical shortage positions to be included in the “retired teacher” definition
Allows substitute teachers under the 25% earnings limit to proctor admission, evaluation, or assessment tests
Act 149: Return to work
What it does (cont):
Restructures how “retired teacher” definitions are organized in the return-to-work law
Requires certain annual certifications and notifications from employers related to critical shortage positions existing within their school districts
» Retiree who holds an advanced degree in speech therapy, speech pathology, or audiology
Act 149: Return to work
Annual certification/notification requirements for employers:
Must annually certify a critical shortage of certain positions existing in the school district
For All Full-Time Critical Shortage Eligible Positions, employer must post job notice at the career development office, or similar such entity, of every postsecondary institution within a 120-mile radius of the school board (NOTE: Posting of job notice is in addition to advertisement in official journal.)
2015 Legislative Session
Act 57: Appropriates approximately $6.2 million to TRSL from FY 2013-14 surplus (nonrecurring) state funds to be applied to the initial unfunded accrued liability
House Study Request 1: Requests the House retirement committee to meet and study the process of funding retirement benefits for K-12 employees, and investigate potential improvements. Findings to be reported to the House of Representatives prior to the 2016 Regular Legislative Session
2015 Legislative Session
Bill vetoed by the governor:
House Bill 42 (Rep. Jones) proposed a COLA of up to 1.5% for eligible TRSL retirees and beneficiaries; would have made actuarial changes beneficial to the long-term sustainability of TRSL