COST OF LIVING ADJUSTMENT APPROVED
The Louisiana Legislature has approved House Concurrent Resolution 2, by Rep. Joel Robideaux and Sen. Butch Gautreaux.
The Resolution authorizes LASERS to grant a cost-of-living adjustment (COLA) of up to 3% as requested by the board of trustees of the Louisiana State Employees' Retirement System (LASERS) based on the benefit being paid on 06/30/08, to be effective on 7/1/08.
In order to be eligible for this COLA, a LASERS retiree must have reached the age of 55 and must have been receiving a LASERS retirement benefit for at least one year prior to July 1, 2008. The COLA is funded through excess investment earnings which accumulate in the legislatively established Experience Account.