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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%

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Retirement:

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

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

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

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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.Ìý

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

Enrollment Documents:



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