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2023 Spring Newsletter

Page 1

Spring 2023

2023 Louisiana Legislative Preview

What’s Inside: President’s Message p. 3 Bills to Watch p. 4 Support SB 18 p. 5

Preserving the Buying Power of Our Retirement Benefits It’s Time for PBI/COLA Reform Support SB 18 By: Rodney R. Watson

During my eight years as executive director for the Louisiana Retired Teachers Association (LRTA) I’ve often stated that we supported retirement reform to increase the solvency and funding level of the Teachers’ Retirement System of Louisiana (TRSL). This plan provides predictable and permanent retirement benefits to our public school retirees through our current defined benefit structure. One consequence of those retirement reforms is cost-of-living adjustments (COLAs), or Permanent Benefit Increases (PBIs), have been awarded to retirees on an infrequent basis. That is because the focusoftheretirementreformwastouseexcessinvestmentearningstohelppaydowntheretirement debt known as the Initial Unfunded Accrued Liability (IUAL). (cont. on page 2)


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