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Regular Session, 2010
HOUSE BILL NO. 515
BY REPRESENTATIVE PEARSON
AN ACT1
To amend and reenact R.S. 11:108(B)(3), (C), and (F), relative to the Firefighters'2
Retirement System, the Municipal Employees' Retirement System, and the3
Municipal Police Employees ' Retirement System, provides for the organization,4
governance, administration, and membership of the Funding Review Panel charged5
with studying the funding and benefit provisions of such systems; to provide with6
respect to election of a chairman for such panel; to provide for reporting7
requirements; to provide an effective date; and to provide for related matters.8
Notice of intention to introduce this Act has been published9
as provided by Article X, Section 29(C) of the Constitution10
of Louisiana.11
Be it enacted by the Legislature of Louisiana:12
Section 1. R.S. 11:108(B)(3), (C), and (F) are hereby amended and reenacted to read13
as follows:14
ยง108. Funding Review Panel15
* * *16
B.17
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(3)(a)The panel shall elect from the members of the recommendations19
committee a chairman and vice chairman of the panel. If the state treasurer is elected20
chairman or vice chairman, his designee shall serve in such office at any meeting of21
the panel at which he represents the treasurer. 22
(b) At the first meeting in Fiscal Year 2010-2011, and at the first meeting in23
each fiscal year thereafter, the panel shall elect from the members of the24
recommendations committee a chairman and vice chairman of the panel. If the state25 ENROLLEDHB NO. 515
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are additions.
treasurer is elected chairman or vice chairman, his designee shall serve in such office1
at any meeting of the panel at which he represents the treasurer.2
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C. (1) The panel shall meet not less than monthly. The treasurer shall call the4
first meeting of the panel on or before August 31, 2005, and shall preside until the5
panel elects a chairman and vice chairman.6
(2) The treasurer shall call the first meeting for Fiscal Year 2010-2011 on or7
before August 31, 2010. The treasurer or his designee shall preside until the panel8
elects a chairman and vice chairman.9
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F.(1) On or before February 15, 2006, the panel shall submit to the House11
and Senate Committees committees on Retirement retirement and to the legislative12
actuary a report containing its recommendations for increasing the actuarial13
soundness of each system and providing a generous, affordable benefit for members14
of each system.15
(2) On or before March 15, 2011, the panel shall submit to the House and16
Senate committees on retirement and to the legislative auditor a report containing its17
recommendations for increasing the actuarial soundness of each system and for18
providing an affordable benefit for members of each system.19
Section 2. This Act shall become effective on July 1, 2010; if vetoed by the governor20
and subsequently approved by the legislature, this Act shall become effective on July 1,21
2010, or on the day following such approval by the legislature, whichever is later.22
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: