Senate Bill No. by Senator Price amends the Louisiana School Employees' Retirement System (LSERS) by modifying the method for determining employer contributions and repealing certain provisions related to amortization and investment returns. The bill specifically amends the introductory paragraph of R.S. 11:102(B)(1)(a) to change how the employer contribution rate is calculated, while also repealing R.S. 11:102(E)(4), 102.3, and 1145.1, which previously governed the application of excess investment returns and the experience account for funding permanent benefit increases for retirees.

The proposed changes eliminate the mechanisms for applying excess investment returns to the amortization base and for crediting and debiting the experience account based on investment gains and losses. Additionally, the bill removes provisions related to the account funding contribution rate, which was previously a component of the employer contribution rate used to fund permanent benefit increases. The bill will take effect upon the governor's signature or after the designated time for gubernatorial action.

Statutes affected:
SB20 Original: 11:102(B)(1), 11:102(E)(4)