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, 2021.
The chart below reflects the employer contribution rate for ORP participants employed by higher education boards.