Senate Bill No. SLS 26RS-107, introduced by Senator Price, amends the Louisiana School Employees' Retirement System (LSERS) by altering the method for determining employer contributions and the amortization of certain actuarial gains. The bill specifically amends the introductory paragraph of R.S. 11:102(B)(1)(a) and repeals sections R.S. 11:102(E)(4), 102.3, and 1145.1. The proposed changes include the elimination of the application of excess investment returns to the amortization base and the removal of mechanisms related to the experience account, which previously credited and debited based on investment gains and losses.

The bill aims to streamline the calculation of employer contribution rates by removing certain provisions that governed how excess returns and investment experiences were handled. This includes the repeal of the "priority amount" and "priority allocation" mechanisms, as well as the account funding contribution rate provisions that were part of the employer contribution rate. The changes are set to take effect upon the governor's signature or after the designated time for bills to become law without signature.

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