Louisiana HB20 amends the Teachers' Retirement System to shorten the suspension period for retiree benefits from 12 months to 3 months.
Louisiana HB20 modifies the Teachers' Retirement System to allow retirees to return to active service without suspending their retirement benefits, provided their earnings do not exceed 25% of their final average compensation. The bill shortens the suspension period from 12 months to 3 months. If a retiree's earnings exceed this limit, their benefits will be reduced by the excess amount. The cost of this change will be funded by additional employer contributions.
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