SLS 12RS-147 ORIGINAL
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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. 9
BY SENATOR GUILLORY
MUNICIPAL EMPLOYEE RET. Provides relative to employee contributions. (7/1/12)
AN ACT1
To amend and reenact R.S. 11:62(7), 1786, and 1806, relative to the Municipal Employees'2
Retirement System; to provide for ranges for employee contributions; to provide for3
board authority to set the employee contributions for Plan A and Plan B within the4
ranges for each fiscal year; to provide for an effective date; and to provide for related5
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(7), 1786, and 1806 are hereby amended and reenacted to read9
as follows: 10
§62. Employee contribution rates established11
Employee contributions to state and statewide public retirement systems shall12
be paid at the following rates, except as otherwise provided by law:13
* * *14
(7) Municipal Employees' Retirement System of Louisiana . :15
(a) Plan A - 9.25%. Not less than 8% nor more than 10% as determined16
by the board of trustees.17 SB NO. 9
SLS 12RS-147 ORIGINAL
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
(b) Plan B - 5% Not less than 4% nor more than 6% as determined by the1
board of trustees.2
* * *3
§1786. Employee contributions4
Each member of Plan A shall contribute an amount equal to 9.25% a5
percentage of his monthly earnings from each and every payment of earnings, which6
contributions shall be credited to annuity savings fund A, and which percentage7
shall be set by the board for each fiscal year within a range from eight percent8
to ten percent and shall become effective as of the next payroll period9
reportable on the employee's W-2 for that calendar year.10
* * *11
§1806. Employee contributions12
Each member of Plan B shall contribute an amount equal to five percent a13
percentage of his monthly earnings from each and every payment of earnings, which14
contributions shall be credited to the Annuity Savings Fund B , and which15
percentage shall be set by the board for each fiscal year in a range from four16
percent to six percent and shall become effective as of the next payroll period17
reportable on the employee's W-2 for that year.18
Section 2. This Act shall become effective on July 1, 2012; if vetoed by the governor19
and subsequently approved by the legislature, this Act shall become effective on July 1,20
2012, or on the day following such approval by the legislature, whichever is later.21
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Laura Gail Sullivan.
DIGEST
Present law relative to the Municipal Employees' Retirement System provides for employee
contributions of 9.25% for Plan A members and 5% for Plan B members.
Proposed law provides a range of employee contributions of 8% to 10% for Plan A and 4%
to 6% for Plan B. Provides that each year's employee rate shall be determined by the board
of trustees for the system.
Effective July 1, 2012.
(Amends R.S. 11:62(7), 1786, and 1806)