From:                                         HRM Office <hr@lsu.edu>

Sent:                                           Friday, July 27, 2012 3:47 PM

To:                                               Undisclosed recipients

Subject:                                     2012-2013 Employer Contribution Rate for TRSL and ORP Participants

 

The Office of Human Resource Management has received notification from the Teachers Retirement System of Louisiana (TRSL) about changes to the employer contribution rate for TRSL Regular Plan and Optional Retirement Plan (ORP) for Fiscal Year 2012-2013.  In the 2012 legislation, Act 716 was passed that established different employer contribution rates for various subgroups within TRSL.  As a result of this, the Lab School TRSL/ORP participants will now fall under the K-12 subgroup.  All other TRSL/ORP participants will fall under the Higher Education subgroup.  Please see the table below that illustrates what each subgroup's employer contribution rate will be for the 2012-2013 Fiscal year.   If you are a participant of the Optional Retirement Plan and you would like additional information on how this change impacts your ORP account, please click on the link below.

  

 

Contribution Rates for 2012-2013 Fiscal Year

 

Employee Normal Cost Rate

Employer Rate

Normal Cost

Shared
UAL

Total Employer Contribution

K-12 Regular Plan

(Lab School)

8.0%

5.7977%

18.7%

24.5%

Higher Ed Regular Plan (All other LSU TRSL & ORP participants)

8.0%

5.6852%

18.7%

24.4%

 

 

 

 

 

 

 

 

 

 

 

 

CLICK HERE to access additional information on the employer contribution rate.

 

If you have any questions or concerns regarding this matter, please contact the Benefits Service Center at 225-578-8200.