Provides for a defined contribution plan for persons employed by state agencies and institutions after December 31, 2012, in nonhazardous postions. (7/1/12) (OR +$42,000,000 FC GF EX)
Constitutional Amendment to change state employees from a defined benefit retirement plan to a defined contribution plan. (2/3 - CA13s1(A)) (OR NO IMPACT APV)
Provides relative to the optional retirement plan and defined benefit plan for the Teachers' Retirement System of Louisiana (EN SEE ACTUARIAL NOTE APV)
Requires employers to continue contributing to state and statewide public retirement systems for the duration of DROP participation. (6/30/12) (EG NO IMPACT APV)
Establishes a minimum employer contribution rate for the Optional Retirement Plan in the Teachers' Retirement System of Louisiana (EN INCREASE FC SG LF EX)