HB 15 — RETIREMENT/ASSESSORS: Provides relative to the correction of administrative errors within the Assessors' Retirement Fund (EN NO IMPACT APV)

HLSENROLLED 26RS-406 ENGROSSED Regular Session HOUSE BILL NO.

15 BY REPRESENTATIVE BERAULT RETIREMENT/ASSESSORS:AN ACT To enact R.S.

Provides relative to the correction of administrative errors within the Assessors' Retirement Fund AN ACT To enact R.S.

The board may reduce the corrected amount of the benefit to recover the Pageoverpayment. 1 of 2 CODING:

Wordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored are additions.

HLS 26RS-406 ENGROSSED HB NO.

15 overpayment.

SectionPage 2.1 of 2 CODING:

ThisWordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored Actare shalladditions. become effectiveupon signature bythe governor or, if not signedbythegovernor,uponexpirationofthetimeforbillstobecomelawwithoutsignature by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana.

IfHB vetoedNO. bythe governorand subsequentlyapprovedbythe legislature, this Act shall become effective on the dayfollowing such approval.

DIGEST15 ThedigestprintedbelowwaspreparedbyHouseLegislativeENROLLED Services.Section 2.

ItconstitutesThis nopartAct shall become effective upon signature bythe governor or, if not signedbythegovernor,uponexpirationofthetimeforbillstobecomelawwithoutsignature by the governor, as provided by Article III, Section 18 of the legislativeConstitution instrument.of Louisiana.

TheIf keyword,vetoed one-liner,bythe abstract,governorand andsubsequentlyapproved digestbythe dolegislature, notthis constituteAct partshall ofbecome theeffective lawon orthe proofdayfollowing orsuch indiciaapproval. of legislative intent.

[R.S.SPEAKER OF THE HOUSE OF REPRESENTATIVES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

1:13(B)Page and2 24:177(E)]of HB2 15CODING: Engrossed 2026 Regular Session Berault Abstract:

Provides relative to the correction of administrative errors in the Assessors' Retirement Fund.

Present law provides that the board of trustees of the Assessors' Retirement Fund (ASSR) is a public corporation vested with the power to administer the fund.

Present law, applicable to benefit overpayments by any state, parochial, or municipal retirement system, requires a board to adjust the amount payable to the correct amount.

Authorizestheboardtorecoveranyoverpaymentbyreducingthecorrectedbenefitsuchthat the overpayment will be repaid with a reasonablenumber of months.

Requires the board to notify the benefit recipient of the amount of overpayment in benefits and the amount of the adjustment in benefits 30 days prior to any reduction of the adjusted benefit amount to recoup the overpayment.

Proposed law retains present law and specifies that, in correctingan administrative errorby anyone paid by ASSR that resulted in benefit underpayment, the correction shall include interest at the system's valuation interest rate.

In the case of an overpayment, requires the board to provide notice of the overpayment, amount owed, and amount and duration of the reduction in benefits 30 days before paying a benefit that is subject to the reduction.

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

(Adds R.S.

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