Teacher's Retirement System of Louisiana
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 average of the highest
thirty-six (36) joined months of service.
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)
Advantages
- Disability Retirement Eligibility after five 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 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 age 60.
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.
- Employer contributes 22% to the System.
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