RETIREMENT/TEACHERS: Provides relative to a phased retirement program within the Teachers' Retirement System of Louisiana (EN INCREASE FC GF EX See Note)

Removed the requirement for multiple co-sponsors, reducing the bill to a single sponsor.

Eliminated detailed instructions for public postsecondary education boards to develop and implement phased retirement policies.

Condensed the statutory language regarding benefit calculations and program terms into a more direct and less verbose format.

Deleted specific clauses detailing employer contribution amounts, fee percentages, and funding dates for the optional retirement plan.

Removed the separate enactment of R.S. 17:3357, which previously provided detailed administrative rules for the program.

The list of bill sponsors was updated to include Representatives Adams, Boudreaux, Broussard, Carpenter, Wilford Carter, Edmonston, Freeman, Freiberg, Dana Henry, Mike Johnson, Lafleur, Marcelle, Miller, Moore, Murray, Stagni, Taylor, and Wyble.

The legislative citation in the title and Section 1 was updated from R.S. 11:927(F)(2) to R.S. 11:927(B)(2)(c)(i) and (d) and (F)(2) to align with the new statutory text.

The definition of reduced retirement benefits was clarified to explicitly state that the benefit is based on the full regular amount eligible at the program's start, reduced by the percentage of work effort performed.

The rule regarding fixed benefits was refined to confirm that during the phased retirement period, contributions, benefits, average compensation, and creditable service remain frozen at the levels existing when the program began.

A new funding provision was added requiring boards to contribute an amount equal to 1.8% of pay starting July 1, 2026, subject to appropriation.

The timeline for employer payment of fees was adjusted to require full payment by July 1, 2027, rather than the previous date.