LA HB15

Requires the Assessors' Retirement Fund board of trustees to adjust benefit amounts and take necessary actions when administrative errors cause overpayments or underpayments

Mandates payment of interest at the system's valuation interest rate when benefit underpayments result from errors by persons paid by the system to make calculations

Authorizes the board to recover overpayments by reducing corrected benefit amounts over a reasonable number of months as determined by the board

Requires 30 days advance notice to benefit recipients before any benefit reduction, including notification of the overpayment amount, amount owed, and duration of the reduction

Effective upon signature by the governor or lapse of time for gubernatorial action