HLS 10RS-1123 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 518
BY REPRESENTATIVE ROBIDEAUX
RETIREMENT/STATE EMPS: Relative to the La. State Employees' Retirement System,
clarifies the definition of "accumulated contributions"
AN ACT1
To amend and reenact R.S. 11:403(1), relative to the Louisiana State Employee's Retirement2
System; to provide for the definition of "accumulated contributions"; to provide an3
effective date; and to provide for related matters.4
Notice of intention to introduce this Act has been published5
as provided by Article X, Section 29(C) of the Constitution6
of Louisiana.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 11:403(1) is hereby amended and reenacted to read as follows:9
ยง403. Definitions10
The following words and phrases used in this Chapter shall have the11
following meanings, unless a different meaning is clearly required by the context:12
(1) "Accumulated contributions" means the sum of all the amounts deducted13
from the earned compensation of a member paid by a member, excluding interest14
paid on the repayment of a refund, and credited to his individual account in the15
employee's savings account, together with regular interest credited prior to July,16
1969.17
* * *18 HLS 10RS-1123 ORIGINAL
HB NO. 518
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Section 2. This Act shall become effective on July 1, 2010; if vetoed by the governor1
and subsequently approved by the legislature, this Act shall become effective on July 1,2
2010, or on the day following such approval by the legislature, whichever is later.3
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Robideaux HB No. 518
Abstract: Relative to the La. State Employees' Retirement System (LASERS), clarifies the
definition of "accumulated contributions" to include all amounts paid by a member
to LASERS.
Present law provides that the definition of "accumulated contributions" in LASERS
provisions means any amount deducted from a member's earned compensation and credited
to the LASERS trust.
Proposed law changes the definition of "accumulated contributions" to include all amounts
paid by a member and credited to the LASERS trust. Excludes interest paid by a member
when repaying a refund.
Effective July 1, 2010.
(Amends R.S. 11:403(1))