Investing … in our schools … in our families … in our communities … in our state … in our...

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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

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

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

RESTRUCTURE OF LAW:

1.Re-employment-eligible, critical shortage position:

» Full or part-time classroom K-12 classroom teacher

» Full-time certified speech therapist, speech pathologist, audiologist, school counselor, school social worker, or educational diagnostician

RESTRUCTURE OF LAW (CONT):

2.Re-employment-eligible position (25% earnings limit):

» Substitute PreK-12 classroom teacher (includes proctoring)

» Adult education or literacy program teacher

» Adjunct professor

RESTRUCTURE OF LAW (CONT):

3.Re-employment-eligible retiree:

» Member who retired on or before June 30, 2010

» Retiree who holds an advanced degree in speech therapy, speech pathology, or audiology

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.)

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

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

Potential Legislation:

1.Pension Reform

2.Direct Payment of UAL

3.Higher Education Changes

Possible pull-out of TRSL

Particularized UAL

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My contact information

Ed Branagan

Director, Employer Services Department

Email: edward.branagan@trsl.org

Phone: 225-925-4846

Toll free: 1-877-ASK-TRSL , ext. 4846

Any questions?

Phone: 225-925-6446

Toll-free: 1-877-ASK-TRSL (1-877-275-8775)

Email: web.master@trsl.org

Website: www.trsl.org

Address: 8401 United Plaza Blvd., Ste. 300, Baton Rouge

Hours: 8 a.m. – 4:30 p.m., Monday - Friday

Investing … in our schools … in our families … in our communities … in our state … in our...

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