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PRSAC approved Employer and Member Contribution Rates for Fiscal Year 2020-21

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PRSAC approved Employer and Member Contribution Rates for Fiscal Year 2020-21

PRSAC approved Employer and Member Contribution Rates for Fiscal Year 2020-21

The Public Retirement Systems’ Actuarial Committee (PRSAC) approved the Louisiana School Employees’ Retirement System (LSERS) June 30, 2019 valuation which included the employer contribution rate of 28.7% effective July 1, 2020.  This is a 0.7 reduction from the current FY2019-20 employer rate of 29.4%

The member contribution rates for FY2020-21 will remain at 7.5% for members hired before July 1, 2010 and 8.0% for new members with first state service on or after July 1, 2010.  Click here for a copy of signed memo to Superintendents, Directors, Business Managers, Human Resource Directors, and IT Directors of all LSERS Employing Agencies.

If you have any questions, please contact Chenfei Zhou, LSERS Assistant Director, at 225.925.6492 or via email at czhou@lsers.net.