House Bill No. by Representative Berault aims to address the correction of administrative errors within the Assessors' Retirement Fund by enacting R.S. 11:1473. The bill stipulates that when an administrative error leads to either the overpayment or underpayment of benefits, the board of trustees is responsible for adjusting the payable amount to the correct figure and taking necessary actions to rectify the error. Specifically, if an underpayment occurs due to an error made by someone compensated by the system, the correction must include the payment of interest at the system's valuation interest rate. Conversely, in cases of overpayment, the board is required to recover the excess amount within a reasonable timeframe and must notify the benefit recipient of the overpayment details and the subsequent adjustments to their benefits at least thirty days prior to implementing any reductions.

The proposed law retains existing provisions regarding the board's authority to adjust benefit amounts and recover overpayments while adding specific requirements for interest payments on underpayments and notification procedures for overpayments. The bill is set to take effect upon the governor's signature or after the expiration of the time for bills to become law without signature.