Tuesday, June 23, 2009

Early Retirement Plan Receives Final Approval – by Robyn Ekings

In an 87-0 vote on Tuesday (June 23rd), the Louisiana House agreed to Senate made changes to a bill that seeks to reduce the state workforce through early retirement.

HB 513 by Representative Dee Richard provides for early retirement for members of the Louisiana State Employees Retirement System (LASERS) with an actuarial reduction of benefit. Members would be allowed to retire at age 50 with at least 10 years of service credit.

Positions vacated under the program would be abolished and a member taking the option would not be eligible for reemployment. The plan would go into effect on July 1, 2009.

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