RS 11:932

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RS 11:932

§932. Regular plan membership; irrevocable election

A.(1) Notwithstanding any provision of law to the contrary, any active contributing participant in the optional retirement plan on June 30, 2024, whose first employment making him eligible for participation in the optional retirement plan occurred on or before July 31, 2020, and who, notwithstanding participation in the optional retirement plan, is otherwise eligible for membership in the regular retirement plan of the Teachers' Retirement System of Louisiana may make an irrevocable election to become a member of the regular retirement plan of the Teachers' Retirement System of Louisiana.

The election shall be made in writing in a manner prescribed by the system and received by the system on or before June 30, 2025.

(2)For a participant whose election is received by the system on or before December 31, 2024, all contributions to the optional retirement plan from a participant making the election and from his employer shall cease on January 31, 2025. Beginning February 1, 2025, the participant shall begin contributing to and accruing benefits in the regular retirement plan of the Teachers' Retirement System of Louisiana as a member first eligible for membership in a state system on that date. The person's employing agency shall pay the system the contributions required pursuant to R.S. 11:102.

(3)For a participant whose election is received by the system on or after January 1, 2025, all contributions to the optional retirement plan from the participant and from his employer shall cease on the last day of the month following the month in which the system receives the election. Beginning on the first day of the following month, the participant shall begin contributing to and accruing benefits in the regular retirement plan of the Teachers' Retirement System of Louisiana as a member first eligible for membership in the state system on that date. The person's employing agency shall pay the system the contributions required pursuant to R.S. 11:102.

B.(1) Notwithstanding any provision of law to the contrary, any participant in the optional retirement plan whose first employment making him eligible for participation in the optional retirement plan occurred on or before July 31, 2020, who was not an actively employed participant in the optional retirement plan on June 30, 2024, and who, notwithstanding his participation in the optional retirement plan, is employed on or after July 1, 2024, in a position that would otherwise make such participant eligible for membership in the regular retirement plan of the Teachers' Retirement System of Louisiana, may make an irrevocable election to become a member of the regular retirement plan of the Teachers' Retirement System of Louisiana.

The election shall be made in writing in a manner prescribed by the system and received by the system by the later of:

(a)September 2, 2025.

(b)Sixty days after the date of the participant's first employment occurring on or after July 1, 2024, in a position that would otherwise make him eligible for membership in the regular retirement plan of the Teachers' Retirement System of Louisiana.

(2)For a participant making the election, all contributions to the optional retirement plan from the participant and from his employer shall cease on the last day of the month following the month in which the system receives the election. Beginning on the first day of the following month, the participant shall begin contributing to and accruing benefits in the regular retirement plan of the Teachers' Retirement System of Louisiana as a member first eligible for membership in a state system on that date. The person's employing agency shall pay the system the contributions required pursuant to R.S. 11:102.

C.(1) Notwithstanding any provision of law to the contrary, any active contributing participant in the optional retirement plan whose first employment making him eligible for participation in the optional retirement plan occurred on or after August 1, 2020, and who, notwithstanding participation in the optional retirement plan, is otherwise eligible for membership in the regular retirement plan of the Teachers' Retirement System of Louisiana may make an irrevocable election to become a member of the regular retirement plan of the Teachers' Retirement System of Louisiana.

The election shall be made in writing in a manner prescribed by the system and shall be received by the retirement system within seven years of the participant's first employment making him eligible for participation in the optional retirement plan.

D. Any and all distributions from the optional retirement plan to a participant who made the election provided for in this Section shall be in accordance with R.S. 11:929.

E. If any participant making an election to become a member of the regular retirement plan of the Teachers' Retirement System of Louisiana has, at the time of such election, prior service in the regular retirement plan, the prior service shall be used for calculation of benefits only and shall not be used to attain eligibility for any purpose, including but not limited to retirement, disability, or survivor benefits.

Acts 2024, No. 109, §1, eff. June 30, 2024; Acts 2025, No. 47, §1, eff. July 1, 2025.