RETIREMENT SYSTEMS: Provides for educational requirements for trustees of certain retirement system boards. (8/31/26) (EN NO IMPACT FC)

Education

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Ed Price
Last action: 2026-05-15
Official status: Signed by the Governor - Act 226
Effective date: Not listed

Plain English Breakdown

The official source material does not provide details about enforcement or consequences for non-compliance.

Education Requirements for Retirement System Trustees

This act sets educational requirements for trustees on retirement system boards, including specific training hours in areas like investment, actuarial science, laws, rules, regulations, and fiduciary duties.

What This Bill Does

Requires trustees to complete at least seven hours of investment training each year.
Requires trustees to attend one hour of education about the laws, rules, and regulations related to their retirement system.
Requires trustees to receive two hours of actuarial science information education annually.
Requires trustees to get two hours of instruction on fiduciary duty and ethics every year.

Who It Names or Affects

Trustees of public retirement systems in Louisiana

Terms To Know

fiduciary duty: The legal responsibility to act solely in the best interests of another party, such as a beneficiary or client.
actuarial science: A field that uses mathematics and statistics to assess risk in insurance, finance, and other industries.

Limits and Unknowns

The act does not specify what happens if trustees do not meet the training requirements.
It is unclear how compliance with these educational requirements will be enforced or monitored.

Bill History

2026-05-15 S
Effective date 8/31/2026.
2026-05-15 S
Signed by the Governor. Becomes Act No. 226.
2026-05-14 S
Sent to the Governor by the Secretary of the Senate.
2026-05-13 H
Signed by the Speaker of the House.
2026-05-13 S
Enrolled. Signed by the President of the Senate.
2026-05-12 S
Received from the House without amendments.
2026-05-12 H
Read third time by title, roll called on final passage, yeas 97, nays 0. Finally passed, ordered to the Senate.
2026-05-11 H
Scheduled for floor debate on 05/12/2026.
2026-05-07 H
Read by title, passed to 3rd reading.
2026-05-06 H
Reported without Legislative Bureau amendments.
2026-05-05 H
Reported favorably (15-0). Referred to the Legislative Bureau.
2026-03-25 H
Read by title, under the rules, referred to the Committee on Retirement.
2026-03-24 H
Received in the House from the Senate, read by title, lies over under the rules.
2026-03-23 S
Read by title, passed by a vote of 35 yeas and 0 nays, and sent to the House. Motion to reconsider tabled.
2026-03-11 S
Read by title. Ordered engrossed and passed to third reading and final passage.
2026-03-10 S
Reported favorably.
2026-03-09 S
Introduced in the Senate; read by title. Rules suspended. Read second time and referred to the Committee on Retirement.
2026-01-23 S
Prefiled and under the rules provisionally referred to the Committee on Retirement.

Official Summary Text

RETIREMENT SYSTEMS: Provides for educational requirements for trustees of certain retirement system boards. (8/31/26) (EN NO IMPACT FC)

Current Bill Text

Read the full stored bill text

2026 Regular Session ENROLLED
SENATE BILL NO. 16
BY SENATOR PRICE AND REPRESENTATIVE BACALA
1 AN ACT
2 To amend and reenact R.S. 11:185(D)(3), relative to public retirement systems; to provide
3 relative to boards of trustees; to provide for educational requirements for members
4 of such boards; to provide for an effective date; and to provide for related matters.
5 Notice of intention to introduce this Act has been published.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 11:185(D)(3) is hereby amended and reenacted to read as follows:
8 §185. Educational requirements for members of retirement system boards of trustees
9 * * *
10 D.(1) * * *
11 (3) Each year, any member to whom this Section applies shall attend at least
12 eight seven hours of investment training, four two hours of actuarial science
13 information education, two hours one hour of education regarding the laws, rules,
14 and regulations applicable to his system, and two hours of instruction on fiduciary
15 duty and ethics. These training hours may be conducted by the staff of the respective
16 retirement systems or by outside experts. Two or more systems may combine any
17 such training. Any member who is elected or appointed to the board for the first time
18 on or after June first shall be required to comply only with the provisions of
19 Paragraph (4) of this Subsection.
20 * * *
ACT No. 226
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
SB NO. 16 ENROLLED
1 Section 2. This Act shall become effective on August 31, 2026; if vetoed by the
2 governor and subsequently approved by the legislature, this Act shall become effective on
3 the day following such approval by the legislature or August 31, 2026, whichever is later.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.