SLS 12RS-156 ORIGINAL
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 13
BY SENATOR GUILLORY
RETIREMENT SYSTEMS. Provides for use of entry age normal valuation method by
Louisiana State Employees' Retirement System and Teachers' Retirement System of
Louisiana. (7/1/12)
AN ACT1
To amend and reenact R.S. 11:22(B)(6) and (13), relative to actuarial valuation methods; to2
provide relative to the method utilized by the Louisiana State Employees' Retirement3
System and the Teachers' Retirement System of Louisiana, to change such method4
from projected unit credit to entry age normal; to provide for an effective date; and5
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. 11:22(B)(6) and (13) are hereby amended and reenacted to read as9
follows: 10
ยง22. Methods of actuarial valuation established11
* * *12
B. The following funding methods shall be utilized to determine actuarially13
required contributions:14
* * *15
(6) Louisiana State Employees' Retirement System: projected unit credit16
entry age normal.17 SB NO. 13
SLS 12RS-156 ORIGINAL
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
* * *1
(13) Teachers' Retirement System of Louisiana: projected unit credit entry2
age normal.3
* * *4
Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor5
and subsequently approved by the legislature, this Act shall become effective on July 1,6
2012, or on the day following such approval by the legislature, whichever is later.7
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Laura Gail Sullivan.
DIGEST
Present constitution (Art.X, Sect. 29(E)(1)) provides that the legislature shall establish, by
law, the particular method of actuarial valuation to be employed by each state or statewide
retirement system for purposes of attaining and maintaining the actuarial soundness of such
system.
Present law (R.S. 11:4(A)(1)(a) and (b)) provide that the La. State Employees' Retirement
system (LASERS) and the Teachers' Retirement System of La. (TRSL) are state retirement
systems.
Proposed law retains present law.
Present law (R.S. 11:22(B)(6) and (13)) provides that LASERS' and TRSL's valuation
method shall be projected unit credit.
Proposed law changes the valuation method of both systems to entry age normal.
Effective July 1, 2012.
(Amends R.S. 11:22(B)(6) and (13))