La. Admin. Code tit. 58 § I-703

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-703 - Requirements for Application to Purchase Military Service

A. In order to apply for purchase of the service, an active member shall:

1. make application to LASERS;

2. provide a copy of military form DD 214;

3. certify that he is not drawing a regular retirement benefit based on the military service calculated on the basis of age and service (This restriction does not apply to disability benefits based on 25 percent or less disability received as a result of military service); and

4. certify that he has not received credit for the service in any other public retirement system;

5. pay for the calculation of the actuarial calculation to determine the cost to purchase the service.

B. The active member shall pay the actuarial cost to receive the service credit. Upon receipt of the items listed above, LASERS shall issue an invoice to the active member. The invoice is void if not paid within 90 days after the date issued. Payment shall be made in a lump sum.

C. Military service not purchased within four years of the active members reemployment under the provisions of Chapter 7 cannot be used to establish eligibility for regular retirement.

C. - D. Repealed.

E. The payment of the cost shall be credited to the member's account. If the member later separates from state employment and requests a refund of contributions, the amount paid shall be refunded along with other employee contributions.

La. Admin. Code tit. 58, § I-703

Promulgated by the Department of Treasury, Board of Trustees of the State Employees' Retirement System, LR 22:373 (May 1996), amended LR 32:265 (February 2006), Amended LR 431987 (10/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:515 and R.S. 11:153.