LA HB47

Authorizes the Louisiana Assessors' Retirement Fund (ASSR) board of trustees to grant cost-of-living adjustments (COLAs) funded solely through the funding deposit account, eliminating the previous authority to use excess investment earnings

Allows COLAs of up to 3% of the current benefit (removing the previous $300 annual cap) when the system is at least 100% funded, with graduated eligibility at lower funding ratios (90%, 80%, or 70%) based on years since the last COLA was granted

Permits an additional COLA of up to 2% of the current benefit for retirees, beneficiaries, and survivors who are 65 years of age or older

Authorizes the board to require employer contribution rates up to 3% higher than the actuarially required rate, with surplus funds credited to the funding deposit account to finance future COLAs

Removes previous restrictions that prohibited COLA grants before final adjournment of the legislative session and required waiting periods based on funded ratios