Louisiana Administrative Code
Title 58 - RETIREMENT
Part I - Louisiana State Employees' Retirement System
Chapter 35 - Optional Retirement Plan
Section I-3507 - Employee Contributions

Universal Citation: LA Admin Code I-3507

Current through Register Vol. 50, No. 9, September 20, 2024

A. Each participant in the ORP shall contribute monthly the same amount that a regular member would have contributed under R.S. 11:62(5)(e). This amount shall be forwarded to the ORP provider, less an administrative cost that shall be established by LASERS. The initial administrative cost shall be set at 1 percent of employee earnings but may be adjusted annually in writing to reflect the actual cost incurred by LASERS to perform this function, but shall not exceed 1 percent without an amendment to this rule.

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:511 and R.S. 11:515.

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