Louisiana LASERS Retirement Calculator: How to Use It
LASERS uses a flat 2.5% accrual rate across all three tiers, but when you can retire without a penalty depends entirely on which tier you're in and whether you've hit the Rule of 80 or Rule of 90.
What this calculator does
The Louisiana LASERS Retirement Calculator computes your defined benefit pension under the Louisiana State Employees' Retirement System using the official 2.5% formula. It handles all three member tiers and applies the correct eligibility rules for each: the Rule of 80 for Tier 1 and Tier 2 members and the Rule of 90 for Tier 3. Enter your inputs and the calculator shows your annual and monthly benefit based on your Final Average Salary and years of creditable service.
The result is your gross annual benefit before taxes and before any optional survivor election. Because LASERS has no automatic COLA, the figure you see is your starting benefit in real terms. Any future adjustment requires board action each year.
What each input means
Member tier
Your tier is determined by your LASERS enrollment date. Tier 1 is for members who enrolled before July 1, 2006. Tier 2 covers enrollments between July 1, 2006 and June 30, 2010. Tier 3 is for anyone who enrolled on or after July 1, 2010. If you're unsure which tier you're in, check your LASERS member statement or contact LASERS directly. It's listed on your annual benefit summary.
Tier affects retirement eligibility but not the 2.5% accrual rate. All tiers use the same formula. The difference is purely in when you can retire without a reduction.
Current age
Your age today. The calculator uses this to determine whether you've already satisfied the Rule of 80 (Tier 1/2) or Rule of 90 (Tier 3) at your planned retirement date, and to project how many more years of service you'll accumulate between now and retirement.
Years of LASERS service
Creditable service includes your time as an active LASERS-covered employee. It may also include purchased service credit for prior public employment in Louisiana, military service, or certain leave periods for which you've made the required actuarial payment. Your LASERS member statement lists your credited service balance. If you have purchased credit pending, confirm whether it's been applied before using this number.
Final Average Salary (3-year)
LASERS computes the FAS as the average of your three highest consecutive years of earnable compensation. For most members at or near retirement, this is the average of the last three full fiscal years. Enter the dollar figure you expect this average to be at retirement. If you're years away from retirement and expect salary growth, enter a projected figure. The calculator doesn't inflate it automatically.
Earnable compensation is your regular base pay. It excludes lump-sum payments for unused annual leave paid at termination, overtime in excess of normal working hours (in most cases), and any one-time awards that are not part of your base rate.
Planned retirement age
The age at which you intend to stop working and begin drawing your pension. The calculator checks this against your tier's eligibility rules to determine whether your benefit will be full or reduced. For Tier 1 and 2 members, the check is whether your age plus service at retirement totals 80 or more. For Tier 3 members, the threshold is 90.
Understanding the outputs
The pension shown is calculated as: Final Average Salary times years of creditable service times 2.5%. A member with a $65,000 FAS and 28 years of service would receive $65,000 × 28 × 0.025 = $45,500 per year before any deductions. That's the gross figure the calculator displays.
If your planned retirement date doesn't satisfy your tier's eligibility rule, the calculator flags the shortfall and shows the earliest date you'd qualify. Retiring before eligibility is generally not permitted without a deferred option. LASERS does not offer the same kind of early retirement reduction that some other systems use.
The benefit shown does not include any survivor benefit election. Electing a survivor option reduces your monthly payment in exchange for a continuing benefit to a designated beneficiary after your death. The exact cost depends on the option selected and the age difference between you and your beneficiary. Contact LASERS for actuarial factors if you're evaluating that option.
LASERS members are generally not covered by Social Security for their state employment. The pension is your primary retirement income from this system. Factor in any Social Security you may have earned from other covered employment separately.
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Frequently asked questions
What is the Rule of 80 for LASERS members?
When your age plus years of creditable service total 80, Tier 1 and Tier 2 members qualify for a full, unreduced pension. A 52-year-old with 28 years of service hits the threshold exactly. Tier 3 members use the Rule of 90 instead.
How is the Final Average Salary calculated for LASERS?
It's the average of your three highest consecutive years of earnable compensation. For most members near retirement this is the last three years. Base pay only: lump-sum leave payouts and most one-time awards are excluded.
Does LASERS provide a COLA?
Not automatically. The LASERS Board of Trustees must declare a COLA each year. When granted, it is capped at 1.5% and is non-compounding. In years where the fund can't support it, no COLA is paid.
What is the difference between Tier 1, Tier 2, and Tier 3?
All three tiers use the same 2.5% formula. The difference is eligibility. Tiers 1 and 2 use the Rule of 80 with no minimum age floor. Tier 3 requires the Rule of 90 and has a minimum service requirement before the rule can be satisfied.
Does LASERS coordinate with Social Security?
Most LASERS-covered positions are not covered by Social Security. If you have Social Security credits from other work, your benefit may be reduced by the Windfall Elimination Provision because of your LASERS pension.