Louisiana SB17 establishes a funding deposit account for cost-of-living adjustments for the Registrars of Voters Employees' Retirement System.
Louisiana SB17 amends the Registrars of Voters Employees' Retirement System (ROVERS) to establish a funding deposit account for cost-of-living adjustments (COLAs). The bill specifies that the account is the sole authorized funding source for COLAs, removing the authority to use excess investment earnings. It applies any percentage increase to the current benefit rather than the original and clarifies that the COLA is paid to retirees, beneficiaries, and survivors. The COLA begins on July 1st following board approval.
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