LA SB11

Increases the maximum Account Funding Contribution (AFC) rate for the Louisiana State Police Retirement System from 2.5% to 3.5%

AFC rate increases permanently when projected employer contribution rates decrease, with the increase equal to the lesser of one-half of the contribution rate reduction or the amount needed to reach the new 3.5% cap

Applies to benefit increases for retirees, beneficiaries, and survivors of the State Police Retirement System

Cost of implementation funded through additional employer contributions per Article X, Section 29(F) of the Louisiana Constitution

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