La. Admin. Code tit. 58 § XXV-301

Current through Register Vol. 50, No. 9, September 20, 2024

Section XXV-301 - Employer Agreements

A. A sample agreement for coverage shall be posted on the MERS website.

B. Employers are not required to use the sample agreement so long as any agreement for coverage submitted to the board of trustees for approval contains each of the elements specified in R.S. 11:1733.

C. An employer must submit a resolution of its governing authority agreeing to the application for coverage before it will be considered by the board of trustees.

D. The board of trustees may require that the actuarial study required with an agreement for coverage be conducted by the actuary retained by the system, at the expense of the applying employer.

E. The board of trustees must approve an agreement for coverage by a majority vote at a public meeting before coverage is extended.

F. Amendments to an employer agreement require the same process.

La. Admin. Code tit. 58, § XXV-301

Promulgated by the Department of Treasury, Municipal Employees' Retirement System, LR 482368 (9/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:1733.