reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-706. When initial financing statement suffices to continue effectiveness of financing statement

RS 10:9-706 - When initial financing statement suffices to continue effectiveness of financing statement
(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in R.S. 10:9-501 continues the effectiveness of a pre-effective-date financing statement if:
(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this Chapter;
(2) the pre-effective-date financing statement was filed in an office in another State; and
(3) the initial financing statement satisfies Subsection (c).
(b) Period of continued effectiveness. The filing of an initial financing statement under Subsection (a) continues the effectiveness of the pre-effective-date financing statement:
(1) if the initial financing statement is filed before July 1, 2001, for the period provided in R.S. 10:9-403 of former Chapter 9 with respect to a financing statement; and
(2) if the initial financing statement is filed on or after July 1, 2001, for the period provided in R.S. 10:9-515 with respect to an initial financing statement.
(c) Requirements for initial financing statement under Subsection (a). To be effective for purposes of Subsection (a), an initial financing statement must:
(1) satisfy the requirements of Part 5 for an initial financing statement;
(2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) indicate that the pre-effective-date financing statement remains effective.
Acts 2001, No. 128, §1, eff. July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-707. Amendment of pre-effective date financing statement

RS 10:9-707 - Amendment of pre-effective date financing statement
(a) [Reserved.]
(b) Applicable law. On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Method of amending: general rule. Except as otherwise provided in Subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended on or after July 1, 2001 only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in R.S. 10:9-501;
(2) an amendment is filed in the office specified in R.S. 10:9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies R.S. 10:9-706(c); or
(3) an initial financing statement that provides the information as amended and satisfies R.S. 10:9-706(c) is filed in the office specified in R.S. 10:9-501.
(d) Method of amending: continuation. If the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under R.S. 10:9-705(d) and (f) or 9-706.
(e) Method of amending: additional termination rule. Whether or not the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this State may be terminated on or after July 1, 2001 by filing a termination statement in the office in which the pre-effective date financing statement is filed, unless an initial financing statement that satisfies R.S. 10:9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.
Acts 2001, No. 128, §1, eff. July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-708. Persons entitled to file initial financing statement or continuation statement

RS 10:9-708 - Persons entitled to file initial financing statement or continuation statement
A person may file an initial financing statement or a continuation statement under this Part if:
(1) the secured party of record authorizes the filing; and
(2) the filing is necessary under this Part:
(A) to continue the effectiveness of a pre-effective-date financing statement; or
(B) to perfect or continue the perfection of a security interest.
Acts 2001, No. 128, §1, eff. July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-709. Priority

RS 10:9-709 - Priority
(a) Law governing priority. This Chapter and other law that remains effective after July 1, 2001 determine the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former Chapter 9 and other law in effect prior to that date determine priority.
(b) Priority if security interest becomes enforceable under R.S. 10:9-203. For purposes of R.S. 10:9-322(a), the priority of a security interest that becomes enforceable under R.S. 10:9-203 of this Chapter dates from July 1, 2001 if the security interest is perfected under this Chapter by the filing of a financing statement before July 1, 2001 which would not have been effective to perfect the security interest under former Chapter 9. This Subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
Acts 2001, No. 128, §1, eff. July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-710. Definitions; filing under repealed laws

RS 10:9-710 - Definitions; filing under repealed laws
(a) "Former Chapter 9." In this Part, "former Chapter 9" means Chapter 9 of Revised Statutes Title 10 that was in effect prior to July 1, 2001.
(b) "Pre-effective-date financing statement." In this Part, "pre-effective-date financing statement" means a financing statement filed before July 1, 2001. The term includes financing statements and continuation statements filed in the office specified in R.S. 10:9-501 under the former Louisiana Assignment of Accounts Receivable Act (R.S. 9:3101 et seq.) and former R.S. 9:5351 through 5366.2 and R.S. 9:5367 through 5373 (Louisiana chattel mortgage statutes).
(c) Continuation statements under former laws. Continuation statements described in Subsection (b) shall not be rendered ineffective by this Chapter, nor be found to fail to satisfy the applicable requirements for perfection under R.S. 10:9-705(c), for lack of signature by the debtor. Continuation statements described in Subsection (b) satisfying the applicable requirements for perfection under law other than former Chapter 9 in effect before July 1, 2001, are effective pre-effective date financing statements under R.S. 10:9-705(c).
Acts 2001, No. 128, §1, eff. July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-801. Definition of "Act"; effective date

RS 10:9-801 - Definition of "Act"; effective date
In this Part, "Act" means the Act that originated as House Bill No. 369 of the 2012 Regular Session of the Legislature1 which enacted this Part 8 and amended other provisions of law in other Parts of this Chapter. The Act takes effect on July 1, 2013.
Acts 2012, No. 450, §2, eff. July 1, 2013.
1Acts 2012, No. 450.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-802. Savings clause

RS 10:9-802 - Savings clause
(a) Pre-effective-date transactions or liens. Except as otherwise provided in this Part, the Act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before the Act takes effect.
(b) Pre-effective-date proceedings. The Act does not affect an action, case, or proceeding commenced before the Act takes effect.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-803. Security interest perfected before effective date

RS 10:9-803 - Security interest perfected before effective date
(a) Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before the Act takes effect is a perfected security interest under Chapter 9 as amended by the Act if, when the Act takes effect, the applicable requirements for attachment and perfection under Chapter 9 as amended by the Act are satisfied without further action.
(b) Continuing perfection: perfection requirements not satisfied. Except as otherwise provided in R.S. 10:9-805, if, immediately before the Act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under Chapter 9 as amended by the Act are not satisfied when the Act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Chapter 9 as amended by the Act are satisfied within one year after the Act takes effect.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-804. Security interest unperfected before effective date

RS 10:9-804 - Security interest unperfected before effective date
A security interest that is an unperfected security interest immediately before the Act takes effect becomes a perfected security interest:
(1) without further action, when the Act takes effect if the applicable requirements for perfection under Chapter 9 as amended by the Act were satisfied before or at that time and remained satisfied at that time; or
(2) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-806. When initial financing statement suffices to continue effectiveness of financing statement

RS 10:9-806 - When initial financing statement suffices to continue effectiveness of financing statement
(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in R.S. 10:9-501 continues the effectiveness of a financing statement filed before the Act takes effect if:
(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under Chapter 9 as amended by the Act;
(2) the pre-effective-date financing statement was filed in an office in another state; and
(3) the initial financing statement satisfies Subsection (c) of this Section.
(b) Period of continued effectiveness. The filing of an initial financing statement under Subsection (a) of this Section continues the effectiveness of the pre-effective-date financing statement:
(1) if the initial financing statement is filed before the Act takes effect, for the period provided in unamended R.S. 10:9-515 with respect to an initial financing statement, and
(2) if the initial financing statement is filed after the Act takes effect, for the period provided in R.S. 10:9-515 as amended by the Act with respect to an initial financing statement.
(c) Requirements for initial financing statement under Subsection (a) of this Section. To be effective for purposes of Subsection (a) of this Section, an initial financing statement must:
(1) satisfy the requirements of Part 5 as amended by the Act for an initial financing statement;
(2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) indicate that the pre-effective-date financing statement remains effective.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-807. Amendment of pre-effective-date financing statement

RS 10:9-807 - Amendment of pre-effective-date financing statement
(a) "Pre-effective-date financing statement". In this Section and in R.S. 10:9-806, "pre-effective-date financing statement" means a financing statement filed before the Act takes effect.
(b) Applicable law. After the Act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Chapter 9 as amended by the Act; however, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Method of amending: general rule. Except as otherwise provided in Subsection (d) of this Section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after the Act takes effect only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in R.S. 10:9-501;
(2) an amendment is filed in the office specified in R.S. 10:9-512(a) concurrently with, or after the filing in that office of, an initial financing statement that satisfies R.S. 10:9-806(c); or
(3) an initial financing statement that provides the information as amended and satisfies R.S. 10:9-806(c) is filed in the office specified in R.S. 10:9-501.
(d) Method of amending: continuation. If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under R.S. 10:9-805(c) and (e) or 9-806.
(e) Method of amending: additional termination rule. Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after the Act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies R.S. 10:9-806(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Chapter 9 as amended by the Act as the office in which to file a financing statement.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-808. Person entitled to file initial financing statement or continuation statement

RS 10:9-808 - Person entitled to file initial financing statement or continuation statement
A person may file an initial financing statement or a continuation statement under this Part if:
(1) the secured party of record authorizes the filing; and
(2) the filing is necessary under this Part:
(A) to continue the effectiveness of a financing statement filed before the Act takes effect; or
(B) to perfect or continue the perfection of a security interest.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 10 - Commercial Laws › §10:9-809. Priority

RS 10:9-809 - Priority
Chapter 9 as amended by the Act determines the priority of conflicting claims to collateral; however, if the relative priorities of the claims were established before the Act takes effect, Chapter 9 as it existed before amendment determines priority.
Acts 2012, No. 450, §2, eff. July 1, 2013.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:2. Purpose of Title

RS 11:2 - Purpose of Title
The purpose of this Title is to consolidate public retirement law in order to effectively comply with the mandate of Article X, Section 29(E) of the Constitution of Louisiana to maintain public retirement systems on a sound actuarial basis.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:3. Conflicts; provisions of Title to control

RS 11:3 - Conflicts; provisions of Title to control
Except as is specifically otherwise provided, the provisions of this Title do not repeal comparable provisions contained within separate laws governing state and statewide public retirement systems. However, the provisions of this Title shall be controlling in case of conflict with the separate laws. The separate laws shall continue to be operable to the extent they are not in conflict with the provisions of this Title.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:4. Classifications of public retirement systems; state systems; statewide systems

RS 11:4 - Classifications of public retirement systems; state systems; statewide systems
As used in this Title, unless the context clearly indicates otherwise, the following terms shall have the meanings ascribed to them:
A.(1) The term "state retirement system", "state system", or "state pension or retirement system, plan, or fund" shall mean one of the following:
(a) Louisiana State Employees' Retirement System.
(b) Teachers' Retirement System of Louisiana.
(c) Louisiana School Employees' Retirement System.
(d) Louisiana State Police Retirement System.
(2) The term "state retirement systems", "state systems", or "state pension or retirement systems, plans, or funds" shall mean the four state systems listed in Paragraph (1) of this Subsection and no other system or systems.
B.(1) The term "statewide retirement system", "statewide system", or "statewide pension or retirement system, plan, or fund" shall mean one of the following:
(a) Assessors' Retirement Fund.
(b) Clerks' of Court Retirement and Relief Fund.
(c) District Attorneys' Retirement System.
(d) Firefighters' Retirement System.
(e) Municipal Employees' Retirement System of Louisiana.
(f) Municipal Police Employees' Retirement System of Louisiana.
(g) Parochial Employees' Retirement System of Louisiana.
(h) Registrars of Voters Employees' Retirement System.
(i) Sheriffs' Pension and Relief Fund.
(2) The term "statewide retirement systems", "statewide systems", or "statewide pension or retirement systems, plans, or funds" shall mean the nine statewide systems listed in Paragraph (1) of this Subsection and no other system or systems.
C. Any public pension or retirement system, plan, or fund not listed in Subsection A or B of this Section shall not be considered a state or statewide retirement system.
Acts 2010, No. 992, §1, eff. Jan. 1, 2011; Acts 2012, No. 227, §1.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:11. Purpose of Chapter

RS 11:11 - Purpose of Chapter
The purpose of this Chapter is to serve as a depositary for legislation involved in a continuing process of consolidation of law relative to required contributions to public retirement systems to achieve and maintain those systems on a sound actuarial basis.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:21. Purpose of Subpart

RS 11:21 - Purpose of Subpart
The purpose of this Subpart is to comply with the requirements of Article X, Section 29(E)(1) of the Constitution of Louisiana that the legislature establish for each state or statewide public retirement system, a particular method of actuarial valuation to be employed.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:22. Methods of actuarial valuation established

RS 11:22 - Methods of actuarial valuation established
A. The provisions of this Section govern the funding methods utilized by state and statewide public retirement systems to determine actuarially required contributions.
B. The following funding methods shall be utilized to determine actuarially required contributions:
(1) Assessors' Retirement Fund: frozen attained age normal.
(2) Clerks' of Court Retirement and Relief Fund: frozen attained age normal.
(3) District Attorneys' Retirement System: aggregate.
(4) Firefighters' Retirement System: frozen initial liability.
(5) Louisiana School Employees' Retirement System: entry age normal.
(6) Louisiana State Employees' Retirement System: entry age normal.
(7) Municipal Police Employees' Retirement System: entry age normal.
(8) Municipal Employees' Retirement System of Louisiana:
(a) Plan A: frozen attained age normal.
(b) Plan B: frozen attained age normal.
(9) Parochial Employees' Retirement System of Louisiana:
(a) Plan A: frozen attained age normal.
(b) Plan B: aggregate.
(c) Plan C: entry age normal.
(10) Registrars of Voters Employees' Retirement System: aggregate.
(11) Sheriffs' Pension and Relief Fund: frozen attained age normal.
(12) Louisiana State Police Retirement System: entry age normal.
(13) Teachers' Retirement System of Louisiana: entry age normal.
C. For any of the systems set forth in Subsection B of this Section which have established excess benefit plans, the present value of benefits shall for funding purposes include the present value of any credits granted to employers for contributions to such excess benefit plans.
D. For any system set forth in Subsection B of this Section that is funded utilizing the frozen attained age normal method, the actuarial valuation method of the system shall be converted to the aggregate funding method in the system's first valuation in which the frozen unfunded actuarial accrued liability is fully amortized.
Acts 1988, No. 81, §2, eff. July 1, 1989; Acts 1988, 2nd Ex. Sess., No. 6, §2, eff. Oct. 31, 1988; Acts 1989, No. 501, §1, eff. July 1, 1989; Acts 1992, No. 165, §1, eff. July 1, 1992; Acts 1997, No. 867, §1, eff. July 1, 1997; Acts 1999, No. 34, §1; Acts 2012, No. 225, §1, eff. June 30, 2012; Acts 2012, No. 227, §1; Acts 2013, No. 220, §3, eff. June 11, 2013; Acts 2014, No. 571, §§1 and 2, eff. Nov. 19, 2014; Acts 2019, No. 91, §1, eff. July 1, 2019.
NOTE: Relative to Acts 2014, No. 571, the Public Retirement Systems' Actuarial Committee adopted valuations for TRSL and LASERS utilizing the Entry Age Normal valuation method on Nov. 19, 2014.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:23. Funded percentage; state systems

RS 11:23 - Funded percentage; state systems
Except as otherwise provided in this Title, "funded percentage" for each state public retirement system shall mean the valuation assets used to determine the actuarially required contributions pursuant to R.S. 11:102 divided by the accrued liability of the system determined by utilizing the funding method established in R.S. 11:22.
Acts 2016, No. 95, §1, eff. June 30, 2016.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:41. Purpose of Subpart

RS 11:41 - Purpose of Subpart
The purpose of this Subpart is to initiate compliance with the requirements of Article X, Section 29(E)(2)(c) and (3) of the Constitution of Louisiana that the legislature provide with respect to the amortization of the unfunded accrued liabilities of state and statewide public retirement systems. Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:61. Purpose of Subpart

RS 11:61 - Purpose of Subpart
The purpose of this Subpart is to comply with the requirements of Article X, Section 29(E)(2)(a) and (3) of the Constitution of Louisiana that the legislature determine and set all required contributions to be made by members of state and statewide public retirement systems.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:81. Purpose of Subpart

RS 11:81 - Purpose of Subpart
The purpose of this Subpart is to comply with the requirements of Article X, Section 29(E)(3) of the Constitution of Louisiana that the legislature shall determine dedicated taxes for statewide public retirement systems not covered by the provisions of Article X, Section 29(A) or (B) of the Constitution of Louisiana.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:101. Purpose of Subpart

RS 11:101 - Purpose of Subpart
The purpose of this Subpart is to provide mechanisms to implement compliance with the requirements of Article X, Section 29(E)(2)(b) and (c) and (3) of the Constitution of Louisiana that the legislature provide with respect to employer funding of state and statewide public retirement systems.
Acts 1988, No. 81, §2, eff. July 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:102.5. State systems' 2014 valuation amortization period

RS 11:102.5 - State systems' 2014 valuation amortization period
Notwithstanding any provision of R.S. 11:102 or any other law to the contrary, for the June 30, 2014 valuation the amortization period for investment gains of the Louisiana State Employees' Retirement System, the Teachers' Retirement System of Louisiana, the Louisiana School Employees' Retirement System, and the State Police Retirement System not allocated to an amortization base pursuant to R.S. 11:102.1, 102.2, 102.3, or 102.4 and not credited to the experience account shall be five years.
Acts 2016, No. 95, §1, eff. June 30, 2016.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:102.6. Review of volatility

§102.6. Review of volatility
Following the close of Fiscal Year 2016-2017, the future volatility of the then-existing schedules of each state system shall be reexamined by staff of each system and of the legislature, including actuaries for both. The results of this reexamination, which may identify issues to be resolved and include recommendations for plan amendments, shall be reported to the Public Retirement Systems' Actuarial Committee by November 1, 2017. The committee shall review the results and determine what changes to the system plan provisions, if any, are advisable. If appropriate, the committee shall make a recommendation to the legislature by December 15, 2017, on whether and what type of legislation is warranted.
Acts 2016, No. 95, §1, eff. June 30, 2016.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:104. Employer contributions; determination date; notification

RS 11:104 - Employer contributions; determination date; notification
A. The employer contribution rate as referred to in this Subpart shall be determined by the Public Retirement Systems' Actuarial Committee as soon as practicable after the first day of January but no later than the last Monday in February of each year for those systems that have a fiscal year ending on the thirtieth day of June.
B. Within ten business days after the determination of a rate pursuant to this Section, the chairman of the Public Retirement Systems' Actuarial Committee shall notify each employer or retirement system that the referenced rate shall be recommended to the legislature for approval, or that the given rate shall be used by the employer or retirement system, whichever is appropriate under the provisions contained in R.S. 11:102 and 103.
Acts 1991, No. 1038, §1; Acts 1992, No. 958, §1; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:106. Additional employer contributions; increasing rates

RS 11:106 - Additional employer contributions; increasing rates
A. The provisions of this Section shall apply to the following statewide public retirement systems or funds:
(1) The Assessors' Retirement Fund.
(2) The Clerks' of Court Retirement and Relief Fund.
(3) The Municipal Employees' Retirement System of Louisiana.
(4) The Registrars of Voters Employees' Retirement System.
B. Notwithstanding the provisions of R.S. 11:103, 104, and 105, the board of trustees of any retirement system or fund to which this Section applies is authorized to require a net direct contribution rate of up to three percent more than the rate determined under R.S. 11:103.
C. If the board of trustees of any retirement system or fund referenced in Subsection A of this Section elects, pursuant to Subsection B of this Section, to increase the net direct employer contribution rate determined under R.S. 11:103, any excess funds resulting from increasing the contribution rate shall be combined with any contribution surplus, or offset by any contribution shortfall, and the resulting balance, if greater than zero, shall be applied, until exhausted, exclusively for and in the order of the following purposes:
(1) To reduce the frozen unfunded accrued liability, if any; however, the future payments on the frozen unfunded accrued liability shall continue to be made according to the original amortization schedule established to initiate compliance with the requirements of Article X, Section 29(E)(3) of the Constitution of Louisiana until the outstanding balance is fully liquidated.
(2) To reduce the outstanding amortization charge base or bases with the greatest number of outstanding payments; however, the future payments on the base or bases shall continue to be made according to the original amortization schedule until the outstanding balance is fully liquidated.
(3) To establish a contribution surplus amortization base or add to the otherwise established contribution surplus base for the fiscal year, if an immediate gain funding method is used, or to reduce the present value of future employer normal costs, if a spread gain funding method is used.
Acts 2001, No. 703, §2, eff. July 1, 2001; Acts 2004, No. 263, §1; Acts 2008, No. 445, §1, eff. June 30, 2008; Acts 2009, No. 296, §1, eff. June 30, 2009; Acts 2010, No. 861, §4.
NOTE: See Acts 2004, No. 263, §2, declaring that Act is remedial, curative, and procedural and providing for retroactive application to July 1, 2001.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:107. Additional employer contributions; reducing rate decreases

RS 11:107 - Additional employer contributions; reducing rate decreases
A. The provisions of this Section shall apply to the following statewide public retirement systems or funds:
(1) The Assessors' Retirement Fund.
(2) The Clerks' of Court Retirement and Relief Fund.
(3) The Municipal Employees' Retirement System of Louisiana.
(4) The Parochial Employees' Retirement System of Louisiana.
(5) The Registrars of Voters Employees' Retirement System.
(6) The Firefighters' Retirement System.
B. Notwithstanding the provisions of R.S. 11:103, 104, and 105(B), in any fiscal year during which the net direct employer contribution rates would otherwise be decreased for any retirement system or fund to which this Section applies, the board of trustees of that system or fund is hereby authorized to set the employer contribution rate at any point between the previous year's employer contribution rate and the decreased rate that would otherwise occur pursuant to R.S. 11:103 and 104. Any excess funds resulting from the additional contributions shall be applied as provided in R.S. 11:105(C).
Acts 2004, No. 631, §1, eff. July 5, 2004; Acts 2008, No. 445, §1, eff. June 30, 2008; Acts 2009, No. 296, §1, eff. June 30, 2009; Acts 2016, No. 208, §1, eff. July 1, 2016.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:121. Creation; purpose

RS 11:121 - Creation; purpose
A. The Public Retirement Systems' Actuarial Committee is hereby created and established as the public retirement and pension system advisor of the Legislature of Louisiana.
B. The legislature recognizes that the fiscal integrity of the state and statewide public retirement and pension systems, plans, and funds is a priority and is necessitated by the current financial condition of the systems, plans, and funds. This actuarial committee is created with the intent that a plan can be developed to insure orderly and consistent strategies for continuing development and growth that will attain and maintain the soundness of the systems, plans, and funds. The purpose of this Chapter is to provide an entity to advise and coordinate this ongoing process and to report to the House and Senate committees on retirement and the Joint Legislative Committee on the Budget all findings and recommendations.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 2010, No. 874, §1, eff. July 1, 2010; Acts 2018, No. 399, §1, eff. June 30, 2018.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:122. Committee; membership

RS 11:122 - Committee; membership
The actuarial committee shall consist of the following voting members:
(1) The state treasurer, ex officio, or his designee, as a voting member.
(2) The commissioner of administration, ex officio, or his designee, as a voting member.
(3) The legislative auditor, ex officio, or his designee, as a voting member.
(4) An actuary who represents the state retirement systems, selected by a majority of the directors of the state retirement systems, as a voting member.
(5) An actuary who represents the statewide retirement systems, selected by a majority of the directors of the statewide retirement systems, as a voting member.
(6) The president of the Senate, ex officio, or his designee, as a voting member.
(7) The speaker of the House of Representatives, ex officio, or his designee, as a voting member.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 1989, No. 145, §1, eff. July 1, 1989; Acts 1991, No. 1038, §1; Acts 1993, No. 342, §1; Acts 2001, No. 154, §§1 and 2, eff. July 1, 2001; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:123. Compensation and expenses

RS 11:123 - Compensation and expenses
The members of the committee shall serve without compensation, except for the legislative members, who shall receive their per diem as for attendance at any other legislative meeting, and from the same source.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 1991, No. 1038, §1; Acts 1997, No. 1435, §1; Acts 2001, No. 154, §1, eff. July 1, 2001; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:124. Quorum

RS 11:124 - Quorum
Six voting members of the committee shall constitute a quorum for the transaction of official business. All official actions of the committee shall require the approval of a majority of the members present and voting unless a greater number is specified by statute.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 1991, No. 1038, §1; Acts 1993, No. 342, §1; Acts 2001, No. 154, §1, eff. July 1, 2001; Acts 2003, No. 953, §1, eff. July 1, 2003; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:125. Meetings

RS 11:125 - Meetings
The committee shall meet as necessary, and shall assist and report to the House and Senate committees on retirement and the Joint Legislative Committee on the Budget.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 1991, No. 1038, §1; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:126. Officers

RS 11:126 - Officers
The chair and vice chair shall rotate biennially between the speaker of the House of Representatives, or his designee, and the president of the Senate, or his designee with terms beginning on the first of July. The committee shall elect any other officers as the committee may deem advisable. No member shall serve in an office for more than four consecutive years.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 2010, No. 874, §1, eff. July 1, 2010; Acts 2018, No. 399, §1, eff. June 30, 2018.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:127. Duties

RS 11:127 - Duties
A. The committee shall review and study, on a continuing basis, actuarial assumptions, funding methods, the unfunded liability determined by those methods, the amortization methods to reduce such unfunded liability, and such other matters as the committee deems appropriate. It shall make recommendations, subject to the unanimous approval of the committee, to the retirement systems, plans, and funds and to the House and Senate committees on retirement and the Joint Legislative Committee on the Budget.
B. The committee shall adopt, each year, an official valuation of each state or statewide public retirement system which shall be derived and revised only as provided in this Section.
C. The actuaries for the public retirement systems, plans, and funds and for the legislative auditor shall submit annual actuarial valuations to the committee. The committee shall review and analyze all the assumptions and valuations submitted. The committee shall, with the consent of a majority of members present and voting, approve a single valuation for each public retirement system, plan, or fund. Once consent of the members is obtained, the actuarial valuations in the form of the official valuations adopted by the committee shall be submitted to the House and Senate committees on retirement and the Joint Legislative Committee on the Budget.
D. Each agency represented by a member of the committee shall provide clerical staff and clerical support as requested by any member of the committee in fulfillment of the duties of the committee.
Acts 1988, No. 81, §2, eff. July 1, 1988; Acts 1991, No. 1038, §1; Acts 1993, No. 342, §1; Acts 2001, No. 154, §1, eff. July 1, 2001; Acts 2010, No. 874, §1, eff. July 1, 2010.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:132. Scope of application and precedence

RS 11:132 - Scope of application and precedence
The provisions of R.S. 11:131 shall take precedence over and supersede the provisions of any other law to the extent that such provisions are inconsistent with the provisions thereof.
Redesignated from R.S. 42:672 by Acts 1991, No. 74, §3, eff. June 25, 1991.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:133. Compulsory retirement prohibited; exceptions

RS 11:133 - Compulsory retirement prohibited; exceptions
A. Except as provided in Subsection B of this Section, in accordance with the provisions of the federal Age Discrimination in Employment Act, no employee of the state of Louisiana, or any political subdivision thereof, or of any district, board, commission, or other agency of either, or of any other such public entity shall be separated from the public service by his appointing authority because of the employee having attained any particular age following employment by the appointing authority.
B.(1) Notwithstanding the provisions of Subsection A of this Section, as allowed by the federal Age Discrimination in Employment Act, law enforcement personnel and firefighters employed by the state or any political subdivision thereof, except elected officials and department heads appointed by the governor who shall remain covered by the provisions of Subsection A of this Section, who shall have attained the age of sixty-five years shall be separated from public service by the appointing authority. However, in any case in which the appointing authority certifies that the continuance in service of the employee who shall have attained the age of sixty-five years or over would be advantageous to the public service by reason of his expert knowledge and qualifications, such employee may be continued in public service by his appointing authority beyond the age of sixty-five years for periods of one year.
(2) In accordance with the federal Age Discrimination in Employment Act, the provisions of Paragraph (1) of this Subsection shall terminate on December 31, 1993.
Acts 1958, No. 54, §§1, 2. Amended by Acts 1978, No. 160, §1, eff. June 29, 1978; Acts 1987, No. 264, §1, eff. July 5, 1987; Redesignated from R.S. 42:691 by Acts 1991, No. 74, §3, eff. June 25, 1991.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:141. Retention of credits

RS 11:141 - Retention of credits
Any person who is a member of any actuarially funded system paid for in whole or part from public funds, other than the State Employees' Retirement System of Louisiana, the Louisiana School Employees' Retirement System of Louisiana, and the Teachers' Retirement System of Louisiana, and who transfers to other public employment where he is no longer eligible for membership in the original retirement system but becomes a member of another actuarially funded system paid for in whole or part from public funds and who has creditable service in the first system for at least ten years, shall have the right to retain membership in the first system, and in the event he becomes eligible for retirement under this second system he shall be entitled to receive a pro rata benefit from each system, each such benefit to be calculated on the years of creditable service and the formula in use in the system from which the benefit is paid.
Acts 1968, No. 525, §1; Redesignated from R.S. 42:696 by Acts 1991, No. 74, §3, eff. June 25, 1991.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:144. Repayment of refunded contributions

RS 11:144 - Repayment of refunded contributions
A. For purposes of R.S. 11:142 and 143, a member of any state, parochial, or municipal retirement system having credit for at least six months in any such system may repay refunded contributions, plus compounded interest at the board-approved actuarial valuation rate thereon from date of refund until paid, to any other state, parochial, or municipal retirement system in order to reestablish such credited service.
B. In lieu of repaying refunded contributions to reestablish credit in the system to which he previously belonged, a member of the Louisiana State Employees' Retirement System who has received a refund of contributions from the Employees' Retirement System of Baton Rouge may purchase directly from the Louisiana State Employees' Retirement System all or a portion of the service he had accrued in the municipal system. The member shall pay to the system for the service credit to be purchased all actuarial costs of such purchase calculated on an actuarial basis in accordance with R.S. 11:158(C), and the member shall be granted an amount of service credit in the system based on such payment.
Added by Acts 1972, No. 47, §1. Amended by Acts 1976, No. 416, §1, eff. Jan. 1, 1977; Acts 1979, No. 103, §1; Acts 1984, No. 733, §1; Acts 1989, No. 213, §1; Acts 1990, No. 104, §1, eff. June 29, 1990; Redesignated from R.S. 42:697.2 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 2003, No. 1234, §1.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:144.1. Repayment of refunded contributions; merged retirement systems

RS 11:144.1 - Repayment of refunded contributions; merged retirement systems
Any person who: (1) was a member of a public retirement system, and (2) who terminated his membership in such system and received a refund of contributions, and (3) who thereafter becomes a member of a state or statewide public retirement system shall be eligible to repay the refunded contributions to the system in which he is an active contributing member, provided the system from which the member received the refund has been merged into his current system and the former system is not in existence with respect to receiving the repayment of refunds. Any such repayment of refunds, and the credit granted relative thereto, shall be on an actuarial basis and in compliance with all other pertinent laws governing the repayment of refunds to the extent that such laws do not conflict with the provisions set forth in this Section.
Acts 1995, No. 1234, §1.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:145. Creditable service of certain elected officials

RS 11:145 - Creditable service of certain elected officials
A. Notwithstanding any other provision of law to the contrary, any person who is now or who hereafter is elected to public office and who is now or hereafter becomes a member of the Louisiana State Employees' Retirement System or any other retirement system for public employees which is supported in whole or in part out of funds of the state of Louisiana or of any parish, municipality, or other political subdivision thereof and who loses any one or more months of creditable service in such system or systems by reason of the adoption of Act 569 of 1966 or any other legislation heretofore or hereafter enacted which shortens or has the effect of shortening a term of office to which such person is elected shall be granted a credit in such retirement system or systems equal to the creditable service lost for such cause. In order to obtain such credit the member shall make application therefor to the board of trustees of the retirement system of which he is a member and shall submit evidence of the period for which he seeks credit and the reason or reasons therefor. In addition, the member shall pay into the system employee and employer contributions equal to the amount of such contributions that would have been paid had he not lost said period of service in the manner hereinabove specified.
B. Any member of the legislature who transferred service credit from the Parochial Employees' Retirement System into this system shall be eligible to transfer such service credit from this system to the Parochial Employees' Retirement System, provided such service credit is transferred on an actuarial basis.
Added by Acts 1978, No. 727, §10, eff. Jan. 1, 1979. Amended by Acts 1981, No. 476, §1; Redesignated from R.S. 42:697.3 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1995, No. 1112, §1.
2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:146. Credit for certain Louisiana State University service

RS 11:146 - Credit for certain Louisiana State University service
A. Any person who is now and has been a contributing member for at least eighteen months of any actuarially funded retirement system in this state which is supported in whole or in part with public funds shall be eligible to obtain credit in the system of which he is a member for all service rendered with Louisiana State University during that period of time when the university had a nonfunded university retirement plan, or during that period of time when the member was in a retirement system for federal employees, if such person had at least eighteen months of service with Louisiana State University during such time or at least eighteen months in a retirement system for federal employees, provided the member pays into the system an amount which on an actuarial basis, totally offsets the increase in accrued liability of the system resulting from the purchase of the service credit. The amount payable shall be calculated by use of the actuarial funding method, assumptions, and tables in use by the system at the time of the purchase of the service credit. However, the service hereby purchased shall not include military service credit.
B. In order to receive such credit, the member shall make application to the governing authority of the system in which he seeks to obtain the credit and shall furnish a detailed statement of all service for which credit is claimed, in such form as the board requires.
C. Credit obtained under the provisions of this Section shall be usable solely for purposes of meeting the eligibility requirements for retirement from the system of which the person is a member.
Added by Acts 1978, No. 712, §1; Acts 1990, No. 239, §1; Redesignated from R.S. 42:697.4 by Acts 1991, No. 74, §3, eff. June 25, 1991.