Important Notice!I just got this from the LAE legislative contact system. This bill is being heard in the retirement committee today! Please send an email to the members of the retirement committee if you do not want your take home pay to be cut by 2% just to fund excessive benefits approved for someone else by the legislature. This extra assessment is an unfair "tax" on present employees that they will never benefit from. I suggest you use the LAE contact system from the link at the bottom of the article.
The House Retirement Committee will hear bill today to increase employee contribution rate and reduce benefits.
HB 57, if passed, will increase the employee contribution rate by 2%. However, the additional employee contributions will not be credited to the employee's TRSL account. Instead, the additional 2% will go to the unfunded accrued liability of TRSL accrued after July 1, 1989.
Contact House Retirement Committee Members today and ask them to oppose HB 57.