Louisiana Deferred Compensation Plan (DCCL)
- A defined Contribution Plan
- Employee contributes 7.5% of salary
- LSU contributes 6.2% of salary
- Immediately vested
Complete the enrollment form and the salary deferral agreement below and return to the Office of Human Resource Management in 110 Thomas Boyd Hall.
Effective Date of Enrollment
As a temporary employee you are automatically enrolled into Social Security. If you wish to enroll in Deferred Compensation you have 30 days from your date of hire to enroll retroactive to your original date. If you wait past your first 30 days of employment to enroll, your effective date will be delayed to the first of the following month and the contributions that were made to Social Security will NOT be transferred into your Deferred Compensation account.
Termination of Deferred Compensation Contributions
Employment Ends: You will be able to access these funds upon separation from service without any age requirement or penalty. You will be unable to access these funds until you actually separate employment from the LSU System.
You Contribute for at Least Two Years: Once you have contributed to Deferred Compensation for two years with the LSU System, you will be defaulted into The Teachers’ Retirement System of Louisiana (TRSL) defined benefit plan and have the option to change to the Optional Retirement Plan. However, if you are a part-time employee upon continuation, you will continue to participate in Social Security. Once your appointment becomes full-time, you will be defaulted into TRSL with the option to change to the ORP.
Additional Options for Part-time/Temporary/Special Classified Staff, Professional Staff, and Academic Employees: Social Security or Optional Retirement Plan (ORP) (not available to part-time or temporary classified/civil service employees)