The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Margaret M. Corley.
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)) provides 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 June 30, 2013.
(Amends R.S. 11:22(B)(6) and (13))