Louisiana LASERS Retirement Calculator Help
The calculator covers LASERS Regular (rank-and-file) members. Hazardous duty, judges, legislators and other special plans have different rules. Here's what each input does.
Hire-date group
Your annual statement names it: "Regular Member" if hired on or before June 30, 2006, "Regular Employee 2" or "3" if hired July 1, 2006 through June 30, 2015, and "Regular Employee 4" if hired on or after July 1, 2015.
Service and average compensation
Enter your service credit. Unused annual and sick leave can add credit at retirement, but it can't be used to reach eligibility, so leave it out. Average compensation is your highest 36 or 60 successive months, as a yearly figure. LASERS caps year-over-year raises in that window at 125% (pre-2006 hires) or 115% (later hires).
Age you leave state service
If you meet your group's age and service rule then, the benefit starts unreduced. With 20+ years you can start sooner on a reduced benefit, and the page shows the unreduced amount plus the age the cut would disappear. With fewer than 20 years and too young, it shows the age you can start.
Reading the result
The figure is the maximum benefit, which stops at your death. Survivor options, the self-funded COLA, DROP and the Initial Benefit Option all change it.
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Frequently asked questions
Is there a Rule of 90 for LASERS members hired after 2015?
No. Members hired on or after July 1, 2015 retire unreduced at 62 with 5 years, or reduced with 20 years at any age.
Can I retire at 55 with 5 years?
No Regular group has that option. Before 62 (or 60 for 2006-2015 hires) you need 20 years, and the benefit is actuarially reduced.
Why doesn't the calculator apply the 20-year reduction?
LASERS calculates it from actuarial factors that aren't in the Member's Guide. Rather than guess, the page shows the unreduced amount and when you'd reach it.
Is the benefit capped?
Yes. Converting unused leave can't take your benefit past 100% of average compensation, and the calculator caps the formula there too.