HB35

Louisiana HB35 amends employer contribution rates for the Sheriffs' Pension and Relief Fund.

Louisiana HB35 amends the law to allow the board of trustees to set the employer contribution rate for the Sheriffs' Pension and Relief Fund up to three percent higher than the net direct actuarially required rate. Any surplus funds collected from this higher rate must be deposited into the funding deposit account. The bill retains the current law that allows the use of these funds to reduce unfunded accrued liability, reduce the present value of future normal costs, and pay all costs of administering the fund.