Retirement Plan Options Chart

Dolores Nehlig, Loyd, Kathy L.  |  4/4/2006 12:32:17 AM


Academic and Non-Classified Employees


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

See "Exceptions" below.


Classified Employees

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

See "Exceptions" below.


Exceptions

  1. Employees on J-1 or F-1 visas, who are considered non-resident aliens for tax purposes, may not contribute to SS or retirement.
  2. Employees on F-1 visas are not eligible to participate in either TRSL or ORP. 
  3. 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.
  4. 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..
  5. 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).
  6. 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.
  7. Any employee who has ever participated in the ORP for Louisiana can never enroll in TRSL.
  8. 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.
  9. 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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