La. Admin. Code tit. 58 § I-3507
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-3507 - Employee ContributionsA. Each participant in the ORP shall contribute monthly the same amount that a regular member would have contributed under R.S. 11:62(5)(e). This amount shall be forwarded to the ORP provider, less an administrative cost that shall be established by LASERS. The initial administrative cost shall be set at 1 percent of employee earnings but may be adjusted annually in writing to reflect the actual cost incurred by LASERS to perform this function, but shall not exceed 1 percent without an amendment to this rule.La. Admin. Code tit. 58, § I-3507
Promulgated by the Department of Treasury, Board of Trustees of the State Employees' Retirement System, LR 26:1491 (July 2000).AUTHORITY NOTE: Promulgated in accordance with R.S. 11:511 and R.S. 11:515.