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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, 2014 ENROLLED
SENATE BILL NO. 14
BY SENATOR GUILLORY
AN ACT1
To amend and reenact R.S. 11:102(B)(3)(d)(vi), relative to the liabilities of the Louisiana2
School Employees' Retirement System; to provide for payment of such liabilities; to3
provide for employer contributions; to provide for an effective date; and to provide4
for related matters.5
Notice of intention to introduce this Act has been published.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 11:102(B)(3)(d)(vi) is hereby amended and reenacted to read as8
follows: 9
ยง102. Employer contributions; determination; state systems10
* * *11
B.(1) * * *12
(3) With respect to each state public retirement system, the actuarially13
required employer contribution for each fiscal year, commencing with Fiscal Year14
1989-1990, shall be that dollar amount equal to the sum of:15
* * *16
(d) That fiscal year's payment, computed as of the first of that fiscal year and17
projected to the middle of that fiscal year at the actuarially assumed interest rate,18
necessary to amortize changes in actuarial liability due to:19
* * *20
(vi) (aa) Except as provided in Subitem (bb) of this Item, Effective21
effective July 1, 2004, and beginning with Fiscal Year 2000-2001, the amortization22
period for the changes, gains, or losses of the Louisiana School Employees'23
Retirement System provided in Items (i) through (iv) of this Subparagraph and for24
any changes, gains, or losses attributable to the cash balance plan shall be thirty25
years, or in accordance with standards promulgated by the Governmental Accounting26 SB NO. 14 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Standards Board, from the year in which the change, gain, or loss occurred. The1
outstanding balances of amortization bases established pursuant to Items (i) through2
(iv) of this Subparagraph before Fiscal Year 2000-2001, shall be amortized as a level3
dollar amount from July 1, 2004, through June 30, 2029. Beginning with Fiscal Year4
2003-2004, and for each fiscal year thereafter, the outstanding balances of5
amortization bases established pursuant to Items (i) through (iv) of this Subparagraph6
shall be amortized as a level dollar amount.7
(bb) All outstanding amortization bases in existence on June 30, 2014,8
including outstanding balances established pursuant to Subparagraph (c) of this9
Paragraph, shall be consolidated and reamortized over the period ending June10
30, 2044, with level dollar payments, effective with the June 30, 2014, valuation.11
This Subsection shall not apply to amortization bases established after June 30,12
2014.13
* * *14
Section 2. This Act shall take effect and become operative if the Act which15
originated as House Bill No. 42 of this 2014 Regular Session of the Legislature is enacted16
and becomes effective.17
Section 3. This Act shall become effective on June 30, 2014; if vetoed by the18
governor and subsequently approved by the legislature, this Act shall become effective on19
June 30, 2014, or on the day following such approval by the legislature, whichever is later.20
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: