2012 Louisiana Laws
Revised Statutes
TITLE 11 — Consolidated public retirement
RS 11:1399.2 — Cash balance plan membership
§1399.2. Cash balance plan membership
A. The following employees whose first employment making them eligible for membership in one of the state systems occurred on or after July 1, 2013, shall be members of the cash balance plan of their respective systems:
(1) Employees covered by the Louisiana State Employees' Retirement System who are not members of the Hazardous Duty Services Plan pursuant to R.S. 11:612.
(2) Employees covered by the Teachers' Retirement System of Louisiana who are employed by institutions of postsecondary education or postsecondary education management boards, who do not become members of the optional retirement plan, and who are not employed for the sole purpose of providing instruction or administrative services at the primary or secondary level, including at any lab school and the Louisiana School for Math, Science, and the Arts.
B.(1) Except as provided in Paragraph (2) of this Subsection, any employee whose first employment making him eligible for membership in one of the state systems listed in R.S. 11:1399.1(A) occurred on or after July 1, 2013, may within sixty days after his employment date make an irrevocable election to join the cash balance plan of the retirement system.
(2) No member of the Hazardous Duty Services Plan shall be permitted to elect to join the cash balance plan.
Acts 2012, No. 483, §1, eff. June 30, 2012.
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