LA SB17

Changes the funding source for cost-of-living adjustments (COLAs) in the Registrars of Voters Employees' Retirement System (ROVERS) from excess investment earnings to the funding deposit account exclusively

Allows the board to grant COLAs in any year the system is over 100% funded, with tiered restrictions at lower funding levels (90% requires 1-year wait, 80% requires 2-year wait, 70% requires 3-year wait since last COLA)

Permits COLAs of up to 3% of current benefit (changed from original benefit) for retirees, beneficiaries, and survivors who have received benefits for at least two years, with increases beginning July 1st following board approval

Authorizes an additional COLA of up to 2% of current benefit for recipients age 65 and older, which may be granted on top of other approved increases

Continues the funding deposit account established in 2009 and allows the board to set employer contribution rates up to 3 percentage points above the actuarially required rate, with surplus funds credited to the account for future COLAs