EMPLOYMENT >> BENEFITS

RETIREMENT

One of the major benefits of working for the Department of Wildlife & Fisheries is the retirement program.  Most employees become members of the Louisiana State Employees’ Retirement System (LASERS) upon employment (depending upon age or other factors, some employees may be covered by Social Security). 

LASERS Retirement Video
LASERS Guide to Retirement

Deferred Retirement Option Plan (DROP):  (One of the plans available to state employees.) Active employees who have retirement eligibility may elect to participate in the DROP program.  DROP is an optional method of retiring from LASERS.  When an employee enters DROP, their status in LASERS changes from an active member to retiree, even though they continue working at their regular job.  LASERS will credit the participant’s DROP benefit to a special DROP account during participation.  They cannot withdraw money from DROP accounts until employment ends.

Disability Retirement:  You may apply for disability retirement if you have ten or more years of creditable state service.  To be eligible for benefits with ten or more years of service, you must be active in state service at the time of application or, if out of service, be able to provide compelling evidence that your disability was incurred while you were employed.  If you have 20 or more years of creditable state service and become disabled, you may apply for disability retirement whether or not you are still active in state service at the time you become disabled. 

Conversion of Unused Sick and Annual Leave:  The amount of annual leave paid by the agency (up to 300 hours) cannot be converted to retirement credit and contributions cannot be made on this amount.  The annual leave paid by the agency (up to 300 hours) is paid to the member at the hourly rate of pay at termination. 

Louisiana law allows members, at retirement, either to add converted eligible leave to the monthly retirement benefit or be paid the actuarial value (not the hourly salary rate) of the converted eligible leave in lump sum.  Only leave that can be converted to retirement credit is eligible for a lump sum payment.

Refunds:  The money you contribute to the retirement system is not lost.  Either you or your beneficiary will receive benefits at least equal to your contributions.  Should you leave state service before gaining retirement eligibility; you may request a refund of all monies you have contributed to the system.

Repayment of Refund:  Should you return to state service and remain a contributing member of the retirement system for at least 18 months, you may repay refund(s) plus interest compounded annually and be recredited for prior state service.  Repayment of a refund(s) is completely optional and may be done at any time until the day of retirement. 

For more information go to http://www.lasers.state.la.us.