SLS 20RS-1 ORIGINAL
2020 Regular Session
SENATE BILL NO. 1
BY SENATOR PRICE
MUNICIPAL EMPLOYEE RET. Provides for an experience study. (6/30/20)
1 AN ACT
2 To amend and reenact R.S. 11:1826(B), relative to the Municipal Employees' Retirement
3 System; to provide for actuarial investigations; to provide for timing of the
4 investigations; to provide for an effective date; and to provide 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. 11:1826(B) is hereby amended and reenacted to read as follows:
8 ยง1826. Actuary
9 * * *
10 B. Immediately after the revision date In Fiscal Year 2023-2024, and at
11 least once every three five years thereafter, the actuary shall make an actuarial
12 investigation of the members as to mortality, disability, retirement, separation,
13 marital status of employees, marriage of surviving spouses, interest, and employee
14 earning rates.
15 * * *
16 Section 2. This Act shall become effective on June 30, 2020; if vetoed by the
17 governor and subsequently approved by the legislature, this Act shall become effective on
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 1
SLS 20RS-1 ORIGINAL
1 June 30, 2020, or on the day following such approval by the legislature, whichever is later.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Margaret M. Corley.
DIGEST
SB 1 Original 2020 Regular Session Price
Present law provides for an actuary and the duties of the actuary at the Municipal
Employees' Retirement System (MERS).
Present law provides for the MERS actuary to make an actuarial investigation of the
members at least once every 3 years.
Proposed law changes the requirement for an actuarial investigation from every 3 to 5 years.
Effective June 30, 2020.
(Amends R.S. 11:1826(B))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.