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Louisiana State Employees Retirement System (LASERS)

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Eligibility:

• Classified or Unclassified employees (who were members of LASERS prior to July 1, 1991) are eligible for membership in LASERS.
• Part-time (20 hours of less per week) and temporary employees are not eligible for membership in LASERS.
• Persons who are 60 years or older at the time of employment have the听option to join LASERS, if all other eligibility requirement are met.听

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 hired听on or before June 30, 2006, you become eligible for retirement upon reaching one of the criteria below:

• 30 years of service at any age.
• 25 years of service at age 55.
• 10 years of service at age 60.
• 20 years of service at any age *actuarially reduced

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

• 5 years of service at age 60
• 20 years of service at any age听*actuarially reduced

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

• 5 years of service at age 62
• 20 years of service at any age听*actuarially reduced

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

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.听

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

Enrollment Documents:

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