SB13

Louisiana SB13 amends the Teachers' Retirement System of Louisiana by changing employer contributions and amortization of actuarial gains.

Louisiana SB13 modifies the Teachers' Retirement System of Louisiana by altering the calculation of employer contributions, minimum employer contribution rates, and the amortization of unfunded accrued liability. It specifies how contribution variances should be treated and establishes new rules for the amortization base. The changes apply once the system reaches a funded percentage of 80% or more. The bill also repeals certain provisions related to the amortization base and residual priority amount. Effective upon the governor's signature or lapse of time for gubernatorial action.