June 1, 2011
NOTE: THIS VOTE RECONSIDERS A PREVIOUS VOTE.
May 25, 2011(Key vote)
Title: Teacher Retirement
Vote Smart's Synopsis:
Vote to pass a bill that requires employers who have terminated their participation in the Teachers' Retirement System of Louisiana to remit to the system any unfunded accrued liabilities.
Requires any employment agency that is authorized by law to terminate its participation in the Teachers' Retirement System of Louisiana and terminates its participation for all employees to pay the retirement system its proportionate share of unfunded accrued liabilities (Sec. 1).
Defines "proportionate share of unfunded accrued liability" as any benefits accrued by or granted to employees during the time that the employer participated in the Teachers' Retirement System of Louisiana (Sec. 1).
Specifies that this act applies to all employing agencies that participated in the Teachers' Retirement System of Louisiana for any plan year ending on or after June 30, 2011 (Sec. 2).