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Board of Regents task force approves phased-retirement framework for Louisiana higher education
Summary
A Board of Regents task force approved a phased-retirement program framework setting eligibility, MOU requirements, benefit-treatment rules for defined-benefit and ORP participants, a recommended employer contribution increase contingent on funding, and steps to shift a TRSL administrative fee; report to be posted to the Board website.
A Board of Regents task force on phased retirement approved a package of recommendations on implementing phased retirement across Louisiana public postsecondary institutions, covering who may qualify, how enrollments should be structured and how retirement benefits and employer contributions should be handled.
Speaker 3, who led the presentation, said the task force’s charge under HR 143 included reviewing program structure in other states, estimating costs, and recommending eligibility criteria. "The enrollee must be retirement eligible to participate and retirement eligible under their respective retirement system," Speaker 3 said, summarizing the eligibility standard the group adopted.
The framework approved by the group sets enrollment terms at 12 to 36 months, requires a minimum of 10 years’ collective service at Louisiana public postsecondary institutions and a minimum age of 59. Participating employees must sign an MOU with their institution defining workload, schedule expectations and sign-offs by an institution…
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