Provides for the option of a 10-year DROP for members of the Firefighters' Pension and Relief Fund in the city of New Orleans (NOFF) (EG +$800,000 FC LF EX)
Provides for an increase in the accrual rate from 2.5% to 3-1/3% for members of the Firefighters' Pension and Relief Fund in the city of New Orleans (NOFF) (OR +$1,640,000 FC EX)
Makes permanent certain requirements that state retirement systems direct portions of certain types of investments through La. broker-dealers (OR +$485,535 FC SG EX)
Relative to the Harbor Police Retirement System (Port of New Orleans), provides for the number of board members necessary for board decisions (EN NO IMPACT APV)
Relative to the La. State Employees' Retirement System, provides relative to calculation of benefits for persons electing early retirement (EN NO IMPACT APV)
Relative to the La. State Employees' Retirement System, requires employers to remit to the system individualized employer contributions (EN NO ACTUARIAL COST APV)
Relative to the Harbor Police Retirement System (Port of New Orleans), provides that persons retired from other systems are eligible for membership from their date of hire (EN +$233,000 APV)
Relative to the Clerks' of Court Retirement and Relief Fund, changes the definition of average final compensation for calculation of benefits of active members (EN -$25,000,000 APV)