RS 11:107

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RS 11:107

§107. Additional employer contributions; reducing rate decreases

A. The provisions of this Section shall apply to the following statewide public retirement systems or funds:

(1)The Assessors' Retirement Fund.

(2)The Clerks' of Court Retirement and Relief Fund.

(3)The Municipal Employees' Retirement System of Louisiana.

(4)The Parochial Employees' Retirement System of Louisiana.

(5)The Registrars of Voters Employees' Retirement System.

(6)The Firefighters' Retirement System.

B. Notwithstanding the provisions of R.S. 11:103, 104, and 105(B), in any fiscal year during which the net direct employer contribution rates would otherwise be decreased for any retirement system or fund to which this Section applies, the board of trustees of that system or fund is hereby authorized to set the employer contribution rate at any point between the previous year's employer contribution rate and the decreased rate that would otherwise occur pursuant to R.S. 11:103 and 104. Any excess funds resulting from the additional contributions shall be applied as provided in R.S. 11:105(C).

Acts 2004, No. 631, §1, eff. July 5, 2004; Acts 2008, No. 445, §1, eff. June 30, 2008; Acts 2009, No. 296, §1, eff. June 30, 2009; Acts 2016, No. 208, §1, eff. July 1, 2016.