RETIREMENT/TEACHERS: Provides relative to the optional retirement plan in the Teachers' Retirement System of Louisiana (EN SEE ACTUARIAL NOTE APV)

Removed the full list of co-sponsors, retaining only Representative Bacala as the primary sponsor.

Condensed the summary of the bill's purpose to remove redundant phrases about rehired retirees and optional plan transfers.

Simplified the list of statutes being amended and reenacted to match the original draft format.

Deleted the 'Enrolled' header and replaced it with 'Original' draft headers and page numbering.

Established a new optional retirement plan for academic and administrative employees of public postsecondary education institutions.

Set age and credit thresholds for participation: optional for those 60+ at first employment, or 55+ with at least 40 Social Security quarters.

Required covered persons to pay the annual actuarial cost of participating in the optional retirement plan.

Mandated the Board of Trustees to select no more than three insurance companies for the plan contracts.

Required the Board of Trustees to consider employee recruitment, retention, and benefit suitability when selecting insurance companies.

Updated the composition of the Board of Trustees to include the commissioner of higher education as an ex officio member.

The bill title was updated to remove the word 'reenact' and to explicitly list the new statute R.S. 11:721.1(D) and the repealed statute R.S. 11:927(B)(2)(f) in the description of changes.

A new section 1 was added to the text to formally enact R.S. 11:721.1(D), 822(A)(11), 932(E), and 933, which were previously only referenced in the title.

The text of R.S. 11:721.1(D) was reorganized to clarify that membership is optional for employees aged 60 or older at first employment, or 55 or older with 40 Social Security quarters, and explicitly excludes rehired retirees.

The list of eligible institutions in R.S. 11:921 was updated to explicitly include the Board of Supervisors of Community and Technical Colleges alongside existing university systems.

Added 14 new co-sponsors to the bill, expanding the bipartisan or coalition support for the legislation.