HB25

Louisiana HB25 amends the Teachers' Retirement System to adjust benefit payment timing and compliance with federal law.

Louisiana HB25 modifies the Teachers' Retirement System to align benefit payment timing with federal law. It ensures that benefit payments start by December 31st of the year following the member's death or by April 1st of the year following the member's required beginning date. For surviving spouses, payments must begin by December 31st of the year the member would have reached their required beginning date or April 1st of the year the surviving spouse reaches their required beginning date if they submit an election at least 30 days prior.