1. 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

2. TRSL at a Glance FY 2015FY 2014 Market value of investment assets (net of fees) $17.057 bln.$17.035 bln. Investment return (net of fees) 2.8%19.5%

3. TRSL at a Glance K-12 Employer Rates*FY 2016FY 2015FY 2014 Regular Plan26.3%28.0%27.2% Plan A31.3%33.1%32.6% Plan B28.8%30.1%29.1% *Includes Normal Cost & Shared UAL

4. 2015 Legislative Session  Convened: April 13  Adjourned: June 11

5. 2015 Legislative Session 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)

6. Act 149: Return to work What 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

7. 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

8. Act 149: Return to work 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

9. Act 149: Return to work 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

10. Act 149: Return to work 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

11. Act 149: Return to work 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.)

12. 2015 Legislative Session 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

13. 2015 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

14. 2016 Legislative Session 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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18. 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

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