This bill amends and reenacts several sections of the Louisiana Revised Statutes related to the Assessors' Retirement Fund, specifically focusing on cost-of-living increases for retirees. It allows the board of trustees to grant cost-of-living increases based on funds available in the funding deposit account, with specific criteria for eligibility and limitations on the amount of increase. The bill also introduces a new section (R.S. 11:1485) that outlines the authority of the board to adjust employer contribution rates and manage surplus funds in the funding deposit account for various purposes, including cost-of-living increases.

Additionally, the bill repeals several existing provisions that are no longer applicable, streamlining the legal framework governing the retirement fund. The amendments clarify the calculation of cost-of-living increases and establish guidelines for employer contributions, ensuring the financial stability of the retirement system. The effective date of the bill is contingent upon the governor's signature or the expiration of the time for bills to become law without signature.

Statutes affected:
HB47 Original: 11:1404(A), 11:1481(1), 11:105(A)(1), 11:106(A)(1), 11:107(A)(1), 11:1(A)(1), 11:242(B)(1), 11:243(A)(1), 11:246(A)(1)
HB47 Engrossed: 11:1404(A), 11:1481(1), 11:105(A)(1), 11:106(A)(1), 11:107(A)(1), 11:1(A)(1), 11:242(B)(1), 11:243(A)(1), 11:246(A)(1)
HB47 Enrolled: 11:1404(A), 11:1481(1), 11:105(A)(1), 11:106(A)(1), 11:107(A)(1), 11:1(A)(1), 11:242(B)(1), 11:243(A)(1), 11:246(A)(1)
HB47 Act 528: 11:1404(A), 11:1481(1), 11:105(A)(1), 11:106(A)(1), 11:107(A)(1), 11:1(A)(1), 11:242(B)(1), 11:243(A)(1), 11:246(A)(1)