Louisiana HB43 modifies retirement eligibility in the Louisiana State Employees' Retirement System.
HB43 amends the Louisiana State Employees' Retirement System to change retirement eligibility criteria. It specifies that employees hired on or after July 1, 2006, can retire with 35 years of service at any age, or with five years of service at age 60 or later. Additionally, it allows retirement with 20 years of service credit at any age, excluding military service and unused annual and sick leave. Employees who retire under this provision are ineligible for the Deferred Retirement Option Plan and the Initial Benefit Option.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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