Retirement Plan Options Chart
Academic and Non-Classified Employees
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Eligibility Requirements |
Options |
Length of appointment exceeds two years and the appointment is greater than 50% of full-time |
Teachers' Retirement System of La. Optional Retirement Plan |
Length of appointment is less than two years or appointment is for 50% or less of full-time |
Optional Retirement Plan Social Security La. Deferred Compensation Plan |
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See "Exceptions" below. | Classified Employees
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Eligibility Requirements |
Options |
Appointment is regular (i.e., probational or permanent) and is for greater than 50% of full-time |
La. State Employees' Ret. System |
Appointment is regular and is for 50% or less of full-time |
Social Security La. Deferred Compensation Plan |
Appointment is temporary (i.e., restricted or job appointment) |
Social Security |
Appointment is regular and is greater than 50% of full-time, and employee is age 60 or older at time of employment or at least age 55 at time of employment with credit for at least 40 quarters in Social Security |
La. State Employees' Ret. System Social Security |
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See "Exceptions" below. |
Exceptions
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Employees on J-1 or F-1 visas, who are considered non-resident aliens for tax purposes, may not contribute to SS or retirement.
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Any employee who is eligible to enroll in TRSL but has at least 5 years of creditable service in LASERS may elect to continue participation in LASERS.
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Any employee who is eligible to enroll in LASERS but has at least 5 years of creditable service in TRSL may elect to continue participation in TRSL..
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Any employee who is eligible to participate in TRSL or LASERS but has at least 5 years of creditable service in the La. School Employees Ret. Sys. (LSERS) may elect to continue participation in LSERS (except for dual employment).
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Any employee who has at least 10 years of creditable service in either TRSL or LASERS, regardless of other factors (i.e., length/type of appt., percent effort, age), may elect to continue as a member of that system.
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Any employee who has ever participated in the ORP for Louisiana can never enroll in TRSL.
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New employees whose type of appointment requires that they participate in SS may not participate if they have 10 or more years of creditable service in any Louisiana state retirement system. They are required to participate in their current system.
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Employment of a Louisiana state retiree is governed by the "Return to Service" regulations of the system from which they retired.
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| Last Updated: 1/24/2008 12:41:36 PM |
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