Participation in LASERS is optional only for employees who are 60 years of age or greater at the time of employment, OR for employees who are 55 years of age or greater at the time of employment and who have credit for at least 40 quarters in the Social Security System. These employees have the option to participate in the Louisiana Deferred Compensation Plan (DCCL) or Social Security in lieu of LASERS. 

Any member who joined LASERS on or before June 30, 2006, shall be eligible to retire if they have:

• 30 years of service or more regardless of age
• 25 years of service or more at age 55 or later
• 10 years of service or more at age 60 or later
• At 20 years of service you may retire at any age but your benefit will be reduced on an actuarial basis which is based on your age, length of service and number of years from your regular retirement age.

Any member who joined LASERS between July 1, 2006 and June 30, 2015, shall be eligible for retirement if they have:

• 5 years of service or more at age 60 or thereafter

• At 20 years of service you may retire at any age but your benefit will be reduced on an actuarial basis which is based on your age, length of service and number of years from your regular retirement age.

Any member who joined LASERS on or after July 1, 2015, shall be eligible to retire if they have:

• 5 years of service or more at age 62 or thereafter

• At 20 years of service you may retire at any age but your benefit will be reduced on an actuarial basis which is based on your age, length of service and number of years from your regular retirement age.

Any Hazardous Duty personnel who joined LASERS on or after January 1, 2011 or the Hazardous Duty personnel employed before January 1, 2011 who made the affirmative choice to join the HAZ PLAN, shall be eligible for retirement if he/she has:

• 12 years or more of service credit at age 55
• 25 years or more of service credit regardless of age
• At 20 years of service you may retire at any age but your benefit will be reduced on an actuarial basis which is  based on the number of months you are away from HAZ PLAN Regular retirement eligibility.

All years must be worked as a member of the HAZ PLAN, unless you transferred your prior service into the HAZ PLAN.

Under HAZ PLAN retirement, you will not select a retirement option as your benefits are directed by statute.

If you are a member of the HAZ PLAN, and do not meet the eligibility requirements described above, you may retire with five years of service credit at age 60. If you retire under this option, your benefit will be calculated at 2.5 percent of your average compensation and will be paid in accordance with the LASERS regular plan options. The retirement benefit and survivor benefit provisions of the HAZ PLAN will not apply if you retire under this option.

A member who joined LASERS on or before June 30, 2006, will have his/her retirement benefit calculated as follows:

[Years of Service] x [Accrual Rate %] x [36-month High Average Salary] = Annual Retirement Benefit

Ex: 25 Years of Service x 2.5% x $30,000 = $18,750

*Employees who became members before July 1, 1986, will be entitled to $300 per year in supplemental benefits upon retirement.

A member who joined LASERS on or after July 1, 2006, will have his/her retirement benefit calculated as follows:

[Years of Service] x [Accrual Rate %] x [60-month High Average Salary] = Annual Retirement Benefit

Ex: 30 Years of Service x 2.5% x $30,000 = $22,500

If you leave state service before you are eligible to retire, you may qualify for a monthly benefit upon reaching minimum retirement age. The following criteria would allow you to qualify in this manner:

• Must have obtained credit for the minimum number of years of service needed to retire (vested), and
• Not reached the required age, and
• Left your contributions on deposit with LASERS
• You must provide written application for retirement to LASERS 30 days prior to reaching the required retirement age

In lieu of leaving your contributions with LASERS, you may apply for a refund. Forms are to be returned directly to LASERS at the address listed on the form. You may also contact the Office of Human Resource Management at 504-568-7780 or nohrmbenefits@lsuhsc.edu for more information. 

You are eligible to apply for Disability retirement if you are a Regular Member, are unable to perform your work duties, and you meet both of the following criteria:

• 10 years of service at any age
• Disability occurred while in active state service

If you are a Regular Member eligible for Regular retirement, including the 20 years at any age actuarially reduced retirement, you cannot apply for Disability bene­fits.