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Benefits

Louisiana State Employees Retirement System (LASERS)


Louisiana State Employees Retirement System

Eligibility:

Contribution Rates:

Retirement Plan

Description

Member Contribution

Regular 1

Regular State Employee Hired before 07/01/2006.

7.5%

Regular 2

Regular State Employee Hired on or after 07/01/2006.

8%

Regular 3

Regular State Employee Hired on or after 01/01/2011.

8%

Regular 4

Regular State Employee Hired on or after 07/01/2016.

8%

Hazardous Duty

Personnel Hired on or after 01/01/2011

9.5%

 

Retirement:

If you are a Regular Member of LASERS, and were hired on or before June 30, 2006, you become eligible for retirement upon reaching one of the criteria below:

If you are a Regular Member of LASERS, and were hired on or after July 1,2006, and on or before June 30, 2015, you become eligible for retirement upon reaching one of the criteria below:

If you are a Regular Member of LASERS, and were hired on or after July 1, 2016, you become eligible for retirement upon reaching one of the criteria below:

*If you are a HAZ PLAN Member, your retirement criteria is different. 

Retirement Benefit Calculation:

A member who joined LASERS on or before June 30, 2006, will have his/her retirement benefit calculated as follows:

[Years of Service] x [Formula %] x [36-month High Average Salary] = Annual Retirement Benefit

 

A member who joined LASERS on or after July 1, 2006, will have his/her retirement benefit calculated as follows:

[Years of Service] x [Formula %] x [60-month High Average Salary] = Annual Retirement Benefit

Termination of Employment before Retirement:

If employment is terminated prior to retirement eligibility, the employee can request a refund of retirement contributions. The employee must be out of state service at least 30 days to obtain a refund. Since retirement contributions are tax deferred, taxed and related penalties will apply to cash refunds. 

For more information about Louisiana State Employees Retirement System (LASERS), please visit their homepage.

Enrollment Documents:

Beneficiary designation
Social Security Statement
Benefit forfeiture

 


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