Opinion Number

Dear Mr. Stockstill:

On behalf of the Public Retirement Systems' Actuarial Committee ("PRSAC"), the opinion of this office was requested concerning the procedure set forth in R.S. 11:103 (C) to determine the "net actuarially required employer contribution" for the Sheriffs' Pension and Relief Fund ("SPRF") for the upcoming fiscal year. As you advised, R.S. 11:103 (C)(2)(b) (iii) states that the fixed portion of the net direct employer contribution for the SPRF is 6%; however, the actuary for SPRF recommended using a different rate (5%) based upon the calculation set forth in the statute. The…