LA SB10

Changes the method for calculating the employer contribution rate for the Louisiana State Police Retirement System by removing the reference to R.S. 11:102.4 from the list of exceptions in determining contribution rates

Repeals the requirement that excess investment returns above the actuarially assumed rate be applied to the oldest outstanding amortization base, along with the "priority amount" and "priority allocation" mechanisms

Eliminates the experience account mechanism that credited the system with a portion of net investment gains to fund permanent benefit increases for retirees and debited the account for investment losses

Removes the account funding contribution rate provisions that were used as a component of the employer contribution rate to fund permanent benefit increase amounts

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