Eligibility for a cost-of-living adjustment (COLA) for LASERS retirees is defined by state statute, La. R.S. 11:542C(4)(a).
To be eligible for a COLA, a regular LASERS retiree must have reached the age of 55 as of June 30th of the year that a COLA is authorized by the legislature. In addition, you must have been retired since June 30th of the previous year.
A disability retiree must have reached the age of 55 as of June 30th of the year prior to a COLA being authorized by the legislature. For example, to be eligible for the COLA authorized in 2007, a disability retiree must have turned 55 as of June 30, 2006.
A beneficiary is eligible for the COLA if the deceased retiree would have turned 55 as of June 30th of the year the COLA is authorized, and if retiree or survivor benefits have been paid since June 30th of the previous year.
A COLA is possible only when the LASERS Employee Experience Account contains sufficient monies to fund an increase. The funds in the Experience Account come from any excess revenues generated by the LASERS investments program. Fifty percent of investment earnings above the legislatively mandated 8.25 percent minimum return are deposited into the Experience Account each year until the balance is sufficient to fund a COLA.
