21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service
Louisiana Retirement Benefits Plan
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US-CC-21-166
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FAQ
Louisiana has a mild climate throughout the year, with warm temperatures that set up mild winters. This makes it an ideal place for retirees who want to escape the harsh winter months. April, May, and October are among the most pleasant in the state as they have lower humidity and fewer days of rain.
LASERS administers a qualified pension and retirement plan under section 401(a) of the Internal Revenue Code. LASERS is a trust fund created to provide retirement and other benefits for state officers, employees, and their beneficiaries.
30 years service credit at any age. 25 years service credit at age 55, 10 years service credit at age 60, or. 20 years service credit at any age with actuarially reduced benefit.
Retirement Formula (Years of service) X (2.5%) = % average of the 60 months highest consecutive years of salary. For more details, please contact the Benefits section at (504) 568-7780 for the retirement handbook for details of plan.
The minimum retirement age for service retirement for most members is 50 years with five years of service credit.
The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67. The chart below lists the full retirement age by year of birth.