Louisiana Revised Statutes 11:107 – A. The provisions of this Section shall apply to the following statewide public retirement systems or funds:
Terms Used In Louisiana Revised Statutes 11:107
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
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 La. Rev. Stat. 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 La. Rev. Stat. 11:103 and 104. Any excess funds resulting from the additional contributions shall be applied as provided in La. Rev. Stat. 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.