Louisiana HB1237 amends the Municipal Police Employees Retirement System and the Firefighters' Retirement System, modifying rules for partial.
Louisiana HB1237 amends the Municipal Police Employees Retirement System and the Firefighters' Retirement System. It modifies the criteria for determining partial dissolutions of police or fire departments and adjusts the timing and method of payments for unfunded accrued liability. Employers must now make payments if their participating employee count falls below 70% of the base count or decreases by at least 50 employees. Payments will begin in the third fiscal year following the determination if it occurs after June 30, 2024.
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