§ 11:2260.1 — Correction of administrative error

Louisiana § 11:2260.1

• Jurisdiction: Louisiana
• Title 11: Consolidated Public Retirement Systems

Text

§2260.1. Correction of administrative error
A. Except where otherwise prohibited in this Chapter, the director may correct any
administrative error and make all adjustments relative to such correction. The director shall
correct such error based solely on sufficient documentation, which shall be submitted to the
board of trustees at the next board meeting, whether such administrative error was committed
by the system or otherwise.
B. If an underpayment of benefits is due to an administrative error committed by
system staff, the correction of such error pursuant to Subsection A of this Section may
include the payment of interest at a rate not to exceed the system's valuation interest rate or
the judicial interest rate, whichever is lower.

Legislative History

Acts 2003, No. 719, §1, eff. June 27, 2003; Acts 2016, No. 231, §1, eff. May 26, 2016.