2016 3:43:28 PM

Teacher's Retirement System of Louisiana

www.trsl.org

Teachers' Retirement System of Louisiana is a defined benefit plan because an exact monthly retirement benefit can be calculated. Benefits are paid according to a formula based on years of service and the final average of the highest years of salary consecutively earned.  TRSL looks at your entire salary history to find the years of highes consecutive earnings, based upon when you first became a member of one of Louisiana's four state public retirement systems.  

 

TRSL Retirement Eligibility - Membership on or after January 1, 2011

  • 5 years of service and age 60
  • 20 years at any age (Actuarial reduced formula)

TRSL Retirement Eligibility - Membership on or after July 1, 2015

  • 5 years of service and age 62
  • 20 years at any age (Actuarial reduced formula)

Advantages

  • Disability Retirement Eligibility after ten years of service.
  • Survivors benefits available after five years of service.

Retirement Formula - Membership on or after January 1, 2011

(Years of service) X (2.5%) = % of average of the five(5) highest years of salary. See retirement handbook for details of plan.

Vesting

You are vested in TRSL at the completion of five years of service. Vesting means an employee has gained entitlement to a benefit upon attaining minimum retirement age (see above).

After Termination of Service

  • Employees are eligible for a refund of their contributions to the system (refunds of contributions can be requested and are subject to taxes and penalty).
  • Contributions can be rolled over to an IRA.
  • Funds can be left in system, but does not earn interest.

Contributions

Employee contributes 8% of base salary.