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Regular Session, 2012
SENATE BILL NO. 29
BY SENATOR CORTEZ
SCHOOL EMPLOYEES RET. Provides relative to benefits for members of the Louisiana
School Employees' Retirement System. (6/30/12)
AN ACT1
To amend and reenact R.S. 11:1116, 1133, 1137, 1141(A), 1144(A)(1), (2), (3) and (4),2
relative to the Louisiana School Employees' Retirement System; to provide relative3
to membership, contributions, eligibility for and calculation of benefits; to provide4
for an effective date; and to provide for related matters. 5
Notice of intention to introduce this Act has been published. 6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 11:1116, 1133, 1137, 1141(A), 1144(A)(1), (2), (3) and (4) are hereby8
amended and reenacted as follows:9
§1116. Membership compulsory for employees employed after August 1, 196210
All persons who become employees, as defined in R.S. 11:1002, on or after11
August 1, 1962, may become members of this system during the first ninety calendar12
days immediately following the date of employment, and shall become members on13
the ninety-first calendar day following the date of employment as a condition of their14
employment. All employees Any employee who were was employed prior to August15
1, 1962, shall be governed by and have the benefit of all existing applicable laws.16
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§1133. Credit for service as a defined "employee"1
Any member of the Louisiana School Employees' Retirement System may2
receive credit for service as an employee, as defined in R.S. 11:1002, provided credit3
granted in another public supported retirement system covering the same time is not4
in effect and provided he or she meets the requirements set forth below:5
* * *6
§1137. Credit for service as an employee7
Any active, contributing member of this system may receive credit for service8
rendered as an employee, for which credit is not maintained in any other publicly9
supported retirement system. In order to receive credit for such service, payment10
shall be made to the retirement system of an amount calculated in accordance with11
the provisions of R.S. 11:158; however, the member shall have rendered service as12
an employee for a minimum of ninety days and shall purchase a minimum of ninety13
days' service in order to avail himself or herself of the provisions of this Section.14
The amount of service credit shall be limited to the actual number of days the15
member was employed by a school board. Credit shall only be allowed for service16
for which the school board maintained a record, and for which the school board17
certifies the correctness thereof to the retirement system. All payments to be made18
under this Section shall be paid prior to the effective date of retirement.19
* * *20
§1141. Retirement benefits; application; eligibility requirements; effective date;21
cancellation22
A. Any member whose first employment making him or her eligible for23
membership in one of the state systems occurred on or before June 30, 2010, may24
retire upon written application to the board of trustees, if the member at the time of25
application has attained the age of sixty years and has credit for ten years of26
accredited service or has attained the age of fifty-five years and has credit for27
twenty-five or more years of accredited service or at any age with thirty or more28
years of accredited service. Any member whose first employment making him29 SB NO. 29
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eligible for membership in one of the state systems occurred on or after July 1, 2010,1
may retire upon written application to the board of trustees, if the member at the time2
of application has attained the age of sixty years and has credit for five years of3
accredited service. An application for retirement shall be officially filed with the4
board when received in the office of the director. Retirement benefits shall become5
effective as of the date an application for retirement is filed in the office of the6
director or the day after the member terminates from service, whichever is later. A7
member may cancel his application for retirement only prior to negotiating, cashing,8
or depositing any benefit check including an estimated benefit check.9
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§1144. Retirement allowance; regular, minimum, and supplemental11
A. Regular allowance. Upon service retirement, a member shall receive an12
allowance which, with the exception of the minimum benefit, and, also, with the13
exception of the supplementary benefit which benefits are hereinafter provided for,14
shall consist of:15
(1) An annuity which shall be the actuarial equivalent of his or her16
accumulated contributions at the time of his or her retirement.17
(2) A pension equal to the annuity allowable at his or her attained age18
computed on the basis of contributions made prior to his or her retirement, plus the19
sum of three hundred dollars; however, the referenced additional sum of three20
hundred dollars shall only be applicable with respect to persons becoming members21
prior to July 1, 1986.22
(3) If he or she has a prior service certificate in full force and effect, a prior23
service pension which shall be in the amount of one and one-half per cent of his or24
her average compensation multiplied by the number of years of his or her accredited25
prior service. The average compensation shall be the average of the compensation26
for personal services for any five consecutive years of accredited service, at the27
option of the member; and provided, further, that in computing the pension for prior28
service credit, any annual compensation less than fifteen hundred dollars shall be29 SB NO. 29
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considered as fifteen hundred dollars.1
(4) In the case of the retirement of any member prior to his or her attainment2
of the age of sixty years, his or her retirement allowance shall be computed as3
though he or she had attained the age of sixty years in accordance with the formula4
herein above set forth in this Section.5
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Section 2. This Act shall become effective on June 30, 2012; if vetoed by the7
governor and subsequently approved by the legislature, this Act shall become effective on8
June 30, 2012, or on the day following such approval by the legislature, whichever is later.9
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Lauren B. Bailey.
DIGEST
Proposed law relative to the Louisiana School Employees' Retirement System (LSERS)
provides for changes in present law regarding membership, contributions, and eligibility for
and calculation of benefits.
Effective June 30, 2012.
(Amends R.S. 11:1116, 1133, 1137, 1141(A), 1144(A)(1), (2), (3) and (4))