DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 867 Original 2020 Regular Session Nelson
Abstract: Requires actuaries to present to the Public Retirement Systems' Actuarial Committee
(PRSAC) a retirement system's assumed rate of return and discount rate using a uniform
reporting standard adopted by PRSAC.
Present law requires the actuaries for the state and statewide retirement systems and for the
legislative auditor to each submit an annual actuarial valuation for each system to PRSAC, which
PRSAC shall use to adopt a single valuation for each system. These actuarial valuations include
several actuarial assumptions such as a system's discount rate and assumed rate of return.
Proposed law requires use of uniform reporting standards, as prescribed by the committee, in
presenting discount rates and assumed rates of return.
(Amends R.S. 11:127(C))