Click to view memo Employers: The Public Retirement Systems' Actuarial Committee (PRSAC) met December 16 and adopted the 2021 TRSL actuarial valuation report, which included Fiscal Year 2022-23 employer contribution rates for all plans.  Defined Benefit Plan members: Fiscal Year 2022-23 employer contributions for each TRSL sub-plan will begin July 1, 2022, at the established rates below. Optional Retirement Plan (ORP) participants: For higher education boards created by Article VIII of the Louisiana Constitution, La. R.S 11:927 requires the amount to be transferred to each ORP participant's account ("Transfer Amount") to be no less than 6.2%. However, these boards can establish a transfer rate above 6.2% by board resolution. Any rate established by board resolution is applicable to each board's employees and the employees of each institution and agency under its supervision and control, including laboratory schools. Resolutions establishing a transfer rate in excess of 6.2% must be received by TRSL no later than June 1, 2022.  The chart below reflects the employer contribution rate for ORP participants employed by higher education boards. Questions about implementation of the new rates? Contact Ed Branagan at 225-925-4846 or toll-free (outside the Baton Rouge calling area) at 1-877-275-8775, ext. 4846.

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