LASERS - Did you know?

LASERS monthly retirement benefits by law must stop upon the death of the member.

Any benefit check delivered after death must be returned to LASERS by a family member or friend. Your designated beneficiary may have certain benefits entitlements. Your beneficiary must apply to LASERS for benefits after your death before payments can begin.

LASERS-Did You Know ?

If you choose to provide LASERS with personal information, whether you are an active member or retiree, by filling out a form with your personal information and submitting it to us through the website or other means -- we use that information to respond to your message and to help us get you the information you have requested.

We only share the information you give us with another government agency if your inquiry relates to that agency, or unless compelled to do so by law. Other than the information necessary to validate secure login to the self-service sections of the website, we do not create individual profiles with the information you provide or give it to any private organizations. LASERS does not collect information for commercial marketing.

LASERS - Did you know?

If a member selects the Maximum Plan as a retirement option, he/she will receive the basic benefit, paid monthly for the lifetime of the member.

It does not pay a monthly benefit to your spouse, or other dependents. Should you die before your member contribution account is depleted, your beneficiary receives a lump sum payment of your remaining member contributions.

LASERS-Did you know?

If a member selects the Maximum Plan as a retirement option, he/she will receive the basic benefit, paid monthly for the lifetime of the member.

It does not pay a monthly benefit to your spouse, or other dependents. Should you die before your member contribution account is depleted, your beneficiary receives a lump sum payment of your remaining member contributions.

LASERS-Did you know?

All members of LASERS retiring after January 1, 2000 are required to use direct deposit to receive their retirement benefit.

This requirement resulted with the passage of Act 21 in the 1999 Legislative Session.

LASERS-Did you know?

LASERS is a qualified defined benefit pension retirement plan under section 401(a) of the Internal Revenue Code.

Employees contribute to LASERS at a percentage of their actual earnings. These contributions are tax sheltered until retirement.

LASERS-Did you know?

If you are no longer a contributing member of LASERS, you may be eligible for a "refund" of your accumulated contributions.

You must contact your last employer's Human Resource office to obtain the necessary form to receive the refund. Once you receive a refund of your contributions, you lose all service credit and benefits in LASERS associated with those funds.

LASERS-Did you know?

If a member selects the Maximum Plan as a retirement option, he/she will receive the basic benefit, paid monthly for the lifetime of the member.

It does not pay a monthly benefit to your spouse, or other dependents. Should you die before your member contribution account is depleted, your beneficiary receives a lump sum payment of your remaining member contributions.

LASERS-Did you know?

LASERS members do not pay Social Security Tax:

However, state employees hired after April 1, 1986 will pay Medicare tax.

LASERS-Did you know?

If a member selects the Maximum Plan as a retirement option, he/she will receive the basic benefit, paid monthly for the lifetime of the member.

It does not pay a monthly benefit to your spouse, or other dependents. Should you die before your member contribution account is depleted, your beneficiary receives a lump sum payment of your remaining member contributions.

LASERS-Did you know?

DROP/IBO account funds may be paid to you monthly, yearly, in a lump sum, or rolled over to an IRA or other qualified plan.

The money in your DROP/IBO account must be withdrawn within your expected lifetime in accordance with IRS rules.

LASERS-Did you know?

LASERS recommends that members request an estimate of their retirement benefits one year before they plan to retire.

If a member is more than one year away from retirement, the benefit calculator, located on the LASERS web site should be used to calculate a regular benefit.

LASERS-Did you know?

LASERS is a qualified defined benefit pension retirement plan under section 401(a) of the Internal Revenue Code.

Employees contribute to LASERS at a percentage of their actual earnings. These contributions are tax sheltered until retirement.

LASERS-Did you know?

Louisiana is a community property state. Pension benefits, including DROP funds received or accumulated during marriage, are community property.

A member should be aware that an ex-spouse regardless of the number of marriages or the length of the marriage might be entitled to a portion of the retirement benefit according to that spouse's community property interest.

LASERS requires that a legally correct and acceptable Court Order be on file before any community assets are divided.

LASERS-Did you know?

Every active LASERS member receives an annual statement issued each year stating creditable service earned.

A member may request a review of the file should there be questions about the amounts reflected on the statement.

LASERS-Did you know?

All members of LASERS retiring after January 1, 2000 are required to use direct deposit to receive their retirement benefit.

This requirement resulted with the passage of Act 21 in the 1999 Legislative Session.

LASERS-Did you know?

LASERS monthly retirement benefits by law must stop upon the death of the member.

Any benefit check delivered after death must be returned to LASERS by a family member or friend.

Your designated beneficiary may have certain benefits entitlements. Your beneficiary must apply to LASERS for benefits after your death before payments can begin.

LASERS-Did you know?

LASERS members do not pay Social Security Tax:

However, state employees hired after April 1, 1986 will pay Medicare tax.

LASERS-Did you know?

Louisiana is a community property state. Pension benefits, including DROP funds received or accumulated during marriage, are community property.

A member should be aware that an ex-spouse regardless of the number of marriages or the length of the marriage might be entitled to a portion of the retirement benefit according to that spouse's community property interest. LASERS requires that a legally correct and acceptable Court Order be on file before any community assets are divided.

LASERS-Did you know?

If you are a disability retiree, you can go back to work for a six month trial period.During this time, your benefit will be suspended.

If you terminate state service prior to the six month period, your disability benefits will be reinstated from the date of your termination. If you continue working for six months or longer, your disability benefits will be terminated.