Louisiana § 11:22 Methods of actuarial valuation established

Louisiana Statutes

§ 11:22 — Methods of actuarial valuation established

Louisiana·Title 11 Consolidated Public Retirement Systems

§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'

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§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.
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.

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Legislative History

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.