In a 93-0 vote this morning (June 11th), the House approved a bill by Thibodeaux Representative Dee Richard that provides for Early Retirement for members of the Louisiana State Employees’ Retirement System (LASERS) at age 50 with ten years of service.
The provision has been on and off the books since 2001. HB 513 would become effective July 1, 2009 and expire December 31, 2011.
Employees choosing the option would receive an actuarially reduced benefit and positions vacated under this provision would be abolished pending a further review process.
The next stop for the proposal will be the Senate Retirement Committee.