The original instrument was prepared by Margaret M. Corley. The following
digest, which does not constitute a part of the legislative instrument, was prepared
by Jerry J. Guillot.
DIGEST
Long (SB 13)
Proposed law provides for the appointment of an actuary by the Louisiana State Police
Retirement System board of trustees.
Proposed law provides that the appointed actuary shall be a technical advisor to the board of
trustees regarding the operation of the plan and shall make a report to the board at least once
every five years as to the mortality, service, and compensation experience of the members and
beneficiaries of the retirement system.
Proposed law provides for the adoption of necessary tables and assumptions by the board of
trustees.
Proposed law provides that, unless otherwise stated, the interest shall be compounded at the rate
of 7.5% per annum and the annuity rates shall be determined on the basis of the RP-2000 Sex
Distinct Mortality Table.
Requires the board to promulgate rules pursuant to the APA and to disclose to members any
changes in interest and mortality rates contained in proposed law.
Provides that no change in actuarial assumptions shall reduce a member's accrued benefit.
Effective June 30, 2013.
(Adds R.S. 11:1302.2)
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Retirement to the original
bill
1. Provides that no change in actuarial assumptions shall reduce a member's accrued
benefit.