LA HB22

Increases the maximum cost-of-living adjustment (COLA) for Clerks' of Court Retirement and Relief Fund retirees, beneficiaries, and survivors from 2.5% (or $40/month cap) to 3% of current benefits, with the $40 monthly cap removed.

Allows the board of trustees to grant COLAs in any fiscal year when the system is at least 100% funded, or at lower funding levels (90%, 80%, or 70%) with waiting periods of one, two, or three years respectively since the last COLA.

Authorizes an additional COLA of up to 2% for recipients age 65 or older, which may be granted on top of any other COLA approved by the board.

Continues the funding deposit account (established in 2009) to hold surplus employer contributions, which must be used to fund COLAs and may also reduce unfunded liabilities or future employer contributions.

Permits the board to require employer contribution rates up to 3% higher than the actuarially required rate, or to maintain the previous year's rate when rates would otherwise decrease.