Louisiana Administrative Code
Title 58 - RETIREMENT
Part I - Louisiana State Employees' Retirement System
Chapter 45 - Effects of Act 75 of the 2005 Regular Session
Section I-4503 - Vesting Because of Prior State Employment
Current through Register Vol. 50, No. 9, September 20, 2024
A. Members whose first employment making them eligible for membership in the system began on or before June 30, 2006 and who subsequent to that date cease such employment shall remain vested under the retirement eligibility provisions existing on that date, but only so long as they do not receive a refund of their accumulated employee contributions on or after July 1, 2006.
B. Upon application for and acceptance of a refund of accumulated contributions, all rights in the system are cancelled. For the purposes of this Section, a refund shall be considered accepted by the member upon the cashing or negotiating of a check or deposit by electronic funds transfer of an amount representing the bulk of the employee contributions deposited in his or her LASERS account based upon the period of their employment.
AUTHORITY NOTE: Promulgated in accordance with R.S. 11:515 and R.S. 11:537.
