HB40

Louisiana HB40 modifies the payment of unfunded accrued liability for employers of the Municipal Police Employees' Retirement System.

Louisiana HB40 amends the Municipal Police Employees' Retirement System to alter how unfunded accrued liability is calculated and paid by employers. Specifically, if a police department transfers employees to another participating employer, the system will determine if a partial dissolution would have occurred without the transfer. If not, and the employees remain in the system, the transferring employer is not required to make the payments. If a partial dissolution would have occurred regardless of the transfer, the amount due is calculated without regard to the transferred employees.