The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Laura Gail Sullivan.
DIGEST
Present law provides for an optional retirement plan (ORP) for certain persons who would
otherwise be members of the regular defined benefit plan of the Teachers' Retirement System of
Louisiana (Teachers' or TRSL). Provides two opportunities for a person to join: at first
employment covered by the system or at any time before the person accrues five years of service
credit in the regular defined benefit retirement plan.
Proposed law retains present law.
Present law provides that the election to join the ORP in lieu of membership in the regular plan is
irrevocable, regardless of when the choice is made.
Present law (R.S. 11:143) generally provides for transfers between La. public retirement or
pension systems, plans, and funds.
Proposed law allows an ORP member to transfer into the Teachers' regular retirement plan.
Provides for this transfer to be on an actuarial basis pursuant to present law transfer statutes.
Proposed law specifies that benefit calculation and retirement eligibility after a transfer pursuant
to proposed law shall be determined based on the date of the person's first employment making
him eligible for state system membership.
Proposed law provides that proposed law terminates on June 30, 2020.
Effective June 15, 2014.
(Adds R.S. 11:926.1)