LA HB23

Authorizes the Louisiana State Employees' Retirement System (LASERS) board of trustees to grant a cost-of-living adjustment (COLA) payable July 1, 2026, funded exclusively from the experience account

Eligible recipients include retirees age 60+ who have received benefits for at least one year, nonretiree beneficiaries meeting the same criteria, and disability retirees or their beneficiaries who have received benefits for at least one year

COLA applies only to the first $80,000 of annual benefits, with a maximum adjustment of 2% of the eligible benefit amount

Adjustment amount must be determined by the system's actuary with agreement from the legislative auditor's actuary, based on experience account balance

Any additional costs must be funded through increased employer contributions per Article X, Section 29(F) of the Louisiana Constitution