SLS 10RS-473 ENGROSSED
Page 1 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2010
SENATE BILL NO. 85
BY SENATOR B. GAUTREAUX
PAROCHIAL EMPLOYEES RET. Establishes a range for employee contributions to be set
by the board of trustees for Plans A and B. (1/1/11)
AN ACT1
To amend and reenact R.S. 11:62(8)(a) and (b), 1946, and 1966, relative to the Parochial2
Employees' Retirement System; to provide for ranges for employee contributions for3
Plans A and B; to provide the board of trustees with authority to set the employee4
contribution rates for members of Plan A and Plan B within the ranges; to provide5
for an effective date; and to provide for related matters.6
Notice of intention to introduce this Act has been published.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 11:62(8)(a) and (b), 1946, and 1966 are hereby amended and9
reenacted to read as follows: 10
§62. Employee contribution rates established11
Employee contributions to state and statewide public retirement systems shall12
be paid at the following rates:13
* * *14
(8) Parochial Employees' Retirement System of Louisiana:15
(a) Plan A - 9.5% Not less than 8% nor more than 11%, as determined by16
the board of trustees in consultation with the actuary for the system.17 SB NO. 85
SLS 10RS-473 ENGROSSED
Page 2 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(b) Plan B - Not less than 3% nor more than 5%, as determined by the1
board of trustees in consultation with the actuary for the system.2
* * *3
§1946. Employee contributions4
Each member of Plan A shall contribute an amount equal to 9.5 a percentage of his5
earnings from each and every payment of earnings, which contributions shall be credited to6
annuity savings fund A. The percentage shall be set by the board for each calendar year7
within a range from eight percent to eleven percent and shall become effective as of the8
first payroll period reportable on the employee's W-2 for that year.9
* * *10
§1966. Employee contributions11
Each member of Plan B shall contribute an amount equal to three a percentage of his12
monthly earnings from each and every payment of earnings, which contributions shall be13
credited to annuity savings fund B. The percentage shall be set by the board for each14
calendar year in a range from three percent to five percent and shall become effective15
as of the first payroll period reportable on the employee's W-2 for that year.16
Section 2. This Act shall become effective on January 1, 2011; if vetoed by the17
governor and subsequently approved by the legislature, this Act shall become effective on18
January 1, 2011, or on the day following such approval by the legislature, whichever is later.19
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Lauren B. Bailey.
DIGEST
B. Gautreaux (SB 85)
Present law establishes employee contribution rates for state and statewide public retirement
systems. Provides that each member of Plan A of the Parochial Employees' Retirement
System (PERS) shall contribute 9.5% of his earnings and each member of PERS Plan B shall
contribute 3% of his earnings.
Proposed law provides for a range of employee contribution rates from 8% to 11% for PERS
Plan A. Proposed law provides for a range of employee contribution rates from 3% to 5%
for PERS Plan B.
Proposed law provides that the PERS board of trustees shall determine the employee
contribution rate to be applied to Plan A and Plan B in consultation with the system's
actuary. SB NO. 85
SLS 10RS-473 ENGROSSED
Page 3 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Present law provides that each member of PERS Plan A or of PERS Plan B shall make
employee contributions to his plan from each and every payment of earnings. Provides that
such contributions shall be credited to the annuity savings fund for his plan.
Proposed law retains present law.
Proposed law provides that the employee contribution rate for each of the Plans shall be set
by the PERS' board for each calendar year within the permissible range. Provides that the
rate shall become effective as of the first payroll period reportable on the employee's W-2
for that year.
Effective January 1, 2011.
(Amends R.S. 11:62(8)(a) and (b), 1946, and 1966)