LA SB20

Modifies the method for calculating employer contribution rates for the Louisiana School Employees' Retirement System (LSERS)

Repeals the requirement that excess investment returns above the actuarially assumed rate be applied to the oldest outstanding amortization base

Eliminates the "priority amount" and "priority allocation" mechanisms used in contribution rate calculations

Removes the experience account system that credited net investment gains to fund permanent benefit increases for retirees and debited investment losses

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