Louisiana HB47 modifies cost-of-living adjustments for the Louisiana Assessors' Retirement Fund, removing caps and altering funding sources.
Louisiana HB47 revises the cost-of-living adjustments (COLAs) for the Louisiana Assessors' Retirement Fund. The bill removes the previous $300 annual cap on COLAs and changes the funding source from excess investment earnings to the funding deposit account. It allows the board of trustees to grant COLAs based on years of service and years since benefit payments began, with the total actuarial present value of the increase not exceeding the actuarial present value of a 3% increase.
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