LA SB13

Terminates provisions for calculating secondary priority amounts after the original amortization base for the Teachers' Retirement System of Louisiana (TRSL) is liquidated

Repeals rules that increased secondary priority amounts based on growth in the system's actuarial value of assets for valuations after the original amortization base is liquidated

Repeals provisions governing residual priority amount calculations after the experience account amortization base is liquidated

Requires reamortization of any amortization base with level-dollar payments once TRSL attains 80% or greater funded status, effective for the June 30th valuation following that fiscal year

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