Bill > HB40

This bill enacts a new provision for the Municipal Police Employees' Retirement System (MPERS), which is a retirement system for municipal police officers. The key change addresses how employers, specifically police departments that are part of the MPERS, are required to pay their "unfunded accrued liability." Unfunded accrued liability refers to the difference between the pension benefits a system has promised to its members and the assets it currently has to pay those benefits. The bill states that if employees transfer from one participating police department to another, and the original department is considered to have "partially dissolved" (meaning it has ceased to exist in its previous form, at least in part), the MPERS will determine if this partial dissolution would have happened even without the employee transfer. If the dissolution was not caused by the transfer, and the transferred employees remain in the retirement system, the transferring employer will not have to make certain payments related to the unfunded accrued liability. If the dissolution would have occurred anyway, the amount owed for the unfunded accrued liability will be calculated without including the transferred employees.

Labor and Employment

https://www.legis.la.gov/legis/BillInfo.aspx?s=26rs&b=HB40&sbi=y