Louisiana State Employees Retirement System (LASERS)
Classified employees or unclassified employees who were members of LASERS prior to 7/1/1991 are eligible for membership in LASERS. Employees contribute 7.5% of their gross salary. Effective 7/1/2014, the University contributes 37% of the employee's gross salary. Certain employees are not eligible for membership in LASERS: part-time (20 hours or less per week) and temporary employees (restricted job appointments). Persons who are age 60 or older at the time of employment have the option to join LASERS, if they meet all other eligibility requirements. If employment is terminated prior to retirement, the employee can request a refund of retirement contributions. The employee must be out of state service at least 30 days to obtain a refund. Since retirement contributions are tax deferred, taxes and related penalties will apply to cash refunds.
Employees eligible for membership in LASERS and hired on or after July 1, 2006 will
contribute 8% of their gross salary.
For more information about Louisiana State Employees Retirement System (LASERS), please visit their home page at http://www.lasers.state.la.us.