|
THREE RETIREMENT PLANS:
Every employee of Livingston Parish Public Schools
contributes to some type of retirement plan.
Currently, most employees are members of either,
Teachers’ Retirement System of Louisiana (TRSL),
Louisiana School Employees’ Retirement System (LSERS),
or MidAmerica Administrative & Retirement Solutions,
Inc. (MidAmerica).
Because of prior vesting we have a few employees
that make contributions to the Optional Retirement Plan
(ORP), or Louisiana State Employees’ Retirement System
(LASERS).
To be eligible for enrollment with TRSL and LSERS one
must work over twenty hours per week and be hired in a
permanent position.
Unless previously vested with TRSL, LSERS, ORP,
or LASERS, all other employees, meaning those who work
twenty hours per week or less, or those who are not
hired in a full-time
permanent
position, are members of the Premier Social Security
Alternative Plan, which is structured as an Internal
Revenue Code Section 457 plan, offered through
MidAmerica.
How do I know which
retirement system I’m a member of?
TRSL members are employees working more than 20 hours
per week that are Classroom Teachers, Educators not
working in the classroom, Principals, Paraprofessionals,
School Food Service employees,
Secretaries, Bookkeepers, Accountants, MIS
personnel, etc.
TRSL members contribute 8% of every dollar earned to a
governmental 401(a) defined benefit plan.
For more information on how this plan works click
here:
TRSL Member Flyer
CONTACT INFORMATION FOR
TRSL:
Teachers’ Retirement System of Louisiana | P O Box
94123 | 8401 United Plaza Boulevard | Baton Rouge,
LA
70804-9123 | 225-925-6446 | Toll-free:
1-877-ASK-TRSL |
www.trsl.org
LSERS members include employees who work more than 20
hours per week in the position of Bus Aide, Bus Driver,
Custodian or Maintenance.
LSERS members contribute
to a governmental 401(a) defined benefit plan.
Members hired prior to July 1, 2010 pay an employee
contribution rate of 7.5% of every dollar earned, and
have a retirement accrual rate of 3.33%. Members
hired on or after July 1, 2010 have an employee
contribution rate of 8%, and a retirement accrual rate
of 2.5%. For more information on Membership in this plan
click here:
http://www.lsers.net/lsers/Resources/Forms.aspx
CONTACT INFORMATION FOR LSERS:
Louisiana State Employees'
Retirement System | P O Box 44516 Capitol Station |
Baton Rouge, LA 70804-4516| 8660 United Plaza
Boulevard | 225-925-6484 | 1-800-256-3718 |
www.lsers.net
Unless previously vested in one of the above listed
retirement plans, all other employees, meaning those who
work 20 hours per week or less, or those who are not
hired in a full-time permanent position, will
contribution 6.2% of their salary to the Premier Social
Security Alternative Plan, which is structured as an
Internal Revenue Code Section 457 plan offered through
MidAmerica.
CONTACT INFORMATION FOR
MIDAMERICA:
MidAmerica Administrative &
Retirement Solutions, Inc.
211 East Main Street, Suite 100 | Lakeland, FL
33801 | 1-800-430-7999 | Fax:
863-686-9727
www.midamerica.biz
MidAmerica members contribute 6.2% of every dollar
earned in a 457(b) Premier Social Security Alternative
Plan.
For
more information on how this plan works click here:
http://www.midamerica.biz/participants/retirement/3121-premier-plan/
CHANGE OF BENEFICIARY:
If you wish to change beneficiary it is your
responsibility to notify your retirement system with the
new information.
See the websites listed below for contact
information to submit your completed beneficiary
designation form.
TRSL members submit
Beneficiary Designation Form 3
LSERS members submit
Beneficiary Designation for Active
Members, Form 3-A
MidAmerica members click here for the
Change of
Beneficiary Form
ARE YOU READY TO RETIRE?
Employees contemplating retirement/DROP should contact HR
at least six months prior to their date of retirement.
TRSL Members:
IF I’M READY TO RETIRE AND GO HOME, WHAT DO I DO
NEXT?
Once you’ve made the decision to go to the house, and
you know your retirement date, then you may submit a
letter to
HR notifying LPPS of your intent to retire.
If you are a certified employee direct your
correspondence to
Mr. Rick Wentzel,
Supervisor of
Human Resources.
If you are a non-certified employee, then send your
correspondence to Mr. Bruce Chaffin, Supervisor.
Submitting this
letter
permits
your principal/supervisor
to hire someone for your position.
Remember, your retirement date is the day after the last
day you work or draw pay.
For instance, if your last day of work is Friday,
December 18, 2009, then your retirement date will be
Saturday, December 19, 2009.
Keep in mind,
when you retire/enter DROP,
we will pay you for up to 25 days severance pay, but we
must receive the request
for payment of those days
in writing. Therefore, in your letter to Mr.
Wentzel
or Mr. Chaffin,
request payment for the allowable 25 days severance pay,
and
also state that you would like to
continue your health/life/dental
insurance coverage
after retirement.
At the bottom of the letter CC: your principal/supervisor,
payroll, insurance and retirement.
By typing the letter to Mr. Wentzel/Mr.
Chaffin,
and addressing all issues concerning severing
employment with LPPS, you basically only have to
write one letter and then can make copies of that
letter to give to everyone else.
LPPS RETIREMENT LIAISON:
Robin Taylor | P O Box 1130 | Livingston, LA
70754 | 225-686-4293 | Fax 225-686-4363 |
robin.taylor@lpsb.org
|
