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La. R.S. 11:615

Retirement benefit calculation

Known as the Early Retirement and Payroll Reduction Act

The act spans §§ 11–11 (622 sections).

Acts 2010, No. 992, §1, eff

A. Except as provided in Subsection B of this Section, a member shall receive a retirement benefit equal to three and one-third percent of average compensation for every year of creditable service in the Hazardous Duty Services Plan, not to exceed one hundred percent of the member's average compensation.

B. If the member's last ten years of creditable service were not accrued exclusively in one of the hazardous duty positions defined in R.S. 11:612(2) or (2.1), he shall receive a retirement benefit equal to two and one-half percent of his average compensation for the actual number of years of creditable service earned in a hazardous duty position.

C. Retirement benefits for members who had service in nonhazardous duty or service under existing plans prior to entering the Hazardous Duty Services Plan shall upon retirement eligibility receive a retirement benefit for that prior service based on the applicable accrual rate when earned.

Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.