HB 35 — RETIREMENT/SHERIFFS FUND: Provides relative to employer contribution for the Sheriffs' Pension and Relief Fund (EN NO IMPACT APV)

HLSENROLLED 26RS-311 REENGROSSED Regular Session HOUSE BILL NO.

35 BY REPRESENTATIVES WILEY, BRASS, AND TAYLOR RETIREMENT/SHERIFFSAN FUND:ACT To amend and reenact R.S.

Provides relative to employer contribution for the Sheriffs' Pension and Relief Fund AN ACT To amend and reenact R.S.

(c) All surplus funds collected for any fiscal year terminating on or after December 31, 2008, in which the board of trustees sets the direct employer Page 1 of 32 CODING:

HLS 26RS-311 REENGROSSED HB NO.

35 (c)ENROLLED All surplus funds collected for any fiscal year terminating on or after December 31, 2008, in which the board of trustees sets the direct employer contribution rate higher than the minimum recommended rate pursuant to the provisions of Subparagraph (a) or (b) of this Paragraph, shall be credited to the account.

If vetoed bythe governorandgovernor and subsequentlyapprovedbythe legislature, this Act shall become effective on the dayfollowing such approval.

DIGESTSPEAKER ThedigestprintedbelowwaspreparedbyHouseLegislativeOF Services.THE HOUSE OF REPRESENTATIVES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

ItPage constitutes2 nopart of the2 legislativeCODING: instrument.

The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 35 Reengrossed 2026 Regular Session Wiley Abstract:

Provides relative to additional employer contributions credited to the funding deposit account.

Present law provides for annual calculations of the net direct actuariallyrequired employer contributionrateforstatewideretirementsystems,includingtheSheriffs'PensionandRelief Fund (SPRF).

Present law provides for a funding deposit account for certain statewide systems, including SPRF, for the accumulation of any employer contributions collected above the net direct rate.

Presentlawspecifiesthatthemoneyin the account canonlybeusedforthefollowing:

(1) To reduce the unfunded accrued liability.

(2) To reduce the present value of future normal costs.

(3) To pay all or a portion of any future net direct employer contributions.

(4) To provide for cost-of-living increases.

Present law, applicable in any fiscal year in which the employer rate would otherwise decrease, authorizes certain statewide retirement systems, including SPRF, to set the employer contribution rate higher than the net direct actuarially required rate, up to the previous fiscal year's higher rate.

Present law requires the additional funds collected to be deposited into that system's funding deposit account.

Proposed law retains present law.

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Wordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored are additions.

HLS 26RS-311 REENGROSSED HB NO.

35 Presentlawauthorizescertainstatewideretirementsystemstosettheemployercontribution rate up to 3% higher than the net direct actuarially required rate.

Present law requires the additional funds collected to be deposited into that system's funding deposit account.

Proposed law retains present law.

Proposed law authorizes the SPRF board of trustees to set the employer contribution rate three percent higher than the net direct actuariallyrequired rate.

Requires additional funds to be deposited into the funding deposit account.

Effective upon signature of governor or lapse of time for gubernatorial action.

(Amends R.S.

11:2175.1(A)(3)(b);

Adds R.S.

11:2175.1(A)(3)(c)) Page 3 of 3 CODING: