HB15

Louisiana HB15 corrects administrative errors in the Assessors' Retirement Fund, including interest for underpayments and overpayments.

Louisiana HB15 mandates the correction of administrative errors in the Assessors' Retirement Fund, ensuring accurate benefit payments. If an administrative error results in an underpayment, the board must adjust the benefit amount and include interest at the system's valuation interest rate. For overpayments, the board must recover the overpayment by reducing future benefits within a reasonable timeframe. The board must notify the benefit recipient 30 days prior to any adjustment.