Thursday, June 11, 2009

Early Retirement Option for LASERS Members Heads to the Senate – by Robyn Ekings

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.

2 comments:

Lisa in LA said...

Is there an update on the success or failure of this bill? Would the retiree have to be in active service to take this option?

Thanks!

Michael Meaux said...

Lisa:

The bill has passed the House and now awaits action in the Senate. If this legislation is approved, the member would have to be active with at least 10 years of service and 50 years of age to qualify.