Retirement

Louisiana State Employees Retirement System (LASERS)
www.lasersonline.org
Local: 225.922.0600
Toll-free: 800.256.3000

LASERS Forms: https://lasersonline.org/forms/member-forms/

Description:

• Defined Benefit Plan
• Employee contributes
• 7.5% of salary (Joined LASERS on or before June 30, 2006)
• 8.0% of salary (Joined LASERS on or after July 1, 2006)
• 9.5% of earned compensation (HAZ DUTY Members)

Optional Retirement Plan (ORP)

• VOYA - Louisiana ORP Hotline- (800) 873-2161
• TIAA- 800-842-2252
• Corebridge (Formerly AIG)- 800.448.2542

Description:

• Alternative option to TRSL
• Defined Contribution Plan
• Permanent employees have 60 days from date of hire to elect an ORP in lieu of TRSL without a delayed effective date
• Employee contributes 8.0% of salary
• Participants do not pay into Social Security
• Irrevocable decision; you may never pay into TRSL

Teacher's Retirement System of Louisiana (TRSL)
www.trsl.org

• Local phone: 225-925-6446
• Toll free: 877-275-8775

TRSL Forms:  https://www.trsl.org/my_trsl/forms/forms_by_subject\

Description:

• Defined Benefit Plan
• Employee contributes 8.0% of salary
• Meet age and years of service criteria in order to receive a benefit
• Vested after 5 years of service
• Employees do not pay into Social Security. The Social Security Administration has an on-line calculator that allows members who are eligible for a pension from TRSL and the SSA to calculate the windfall elimination provision (WEP), which can reduce Social Security retirement benefits for most retirees who collect pensions from jobs not covered by Social Security.