Frequently asked questions

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 Can I apply for a loan against my account balance?
No.  Loan provisions are NOT included in the IRS statutes or Louisiana laws regulating PERS and qualified retirement plans in general. 

How can I receive the funds on deposit with the retirement system?
An active member cannot access employee contributions. Your PERS account is not like a bank, savings, or other investment account; rather, it is similar to Social Security contributions. An employee must terminate all forms of employment, including part-time, with all member employers before applying for a refund of member contributions. 

How long will it take to receive a refund if I have terminated employment?
In order to receive a refund of contributions, there are several considerations:       

1) Formal termination of all employment, for not less than 60 days.  This means a member CANNOT quit just to take a refund, and then go back to work.
2) All contributions through the member's last day of employment must be received in our office along with a completed Refund Request Form.          
3) Refunds are processed only twice per month. The wait for a refund of contributions can vary, depending upon several factors.  Remember, we are not a bank or other type of financial institution. 

4) Refunds are only processed by paper check, sent via U.S. mail.  Refunds may take up to 4-6 weeks for processing.

How can I change my address or my beneficiary?
In order to change a member or beneficiary address, our office must receive that request, we must receive a Personal History Update Form.  This form is available from your human resources office, our office in Baton Rouge, or by downloading a copy available from this website. (Click on Forms & Publications). Such changes cannot be handled via the telephone.

What are the eligibility requirements for normal retirement?
     Plan A Eligibility Requirements for Active Members Enrolled Prior to 1/1/07
     7 years and age 65
     10 years and age 60
     25 years and age 55
     30 years at any age
 

     Plan A Eligibility Requirements for Active Members Enrolled 1/1/07 and Later
     7 years and age 67
     10 years and age 62
     30 years and age 55
 

     Plan B Eligibility Requirements for Active Members Enrolled Prior to 1/1/07
     7 years and age 65
     10 years and age 60
     30 years and age 55
 

     Plan B Eligibility Requirements for Active Members Enrolled 1/1/07 and Later
     7 years and age 67
     10 years and age 62
     30 years and age 55

When am I eligible to request an estimate of my retirement benefits?
When a member is within 3 years of retirement eligibility (both age and years of service), PERS policy offers one free estimate every 12 months.  The Estimate Request Form can be found on our website in the Forms section under Active Member Forms or at this link: https://img1.wsimg.com/blobby/go/07f1d526-18a0-4f8f-a2f1-4bc942f3edad/downloads/6f895133-f362-4bca-9fb2-d59acf07ef9c/Retirement%20Benefit%20Estimate%20Request%20-%20Both%20Pla.pdf?ver=1730235253386. 

What forms are needed to apply for retirement?
Packet needed for all retirement types are on our website.    In addition to these forms, the member will need to provide a copy of a birth certificate, driver's license, and social security card for the applicant and spouse/beneficiary.    See link: Application Packets | Parochial Employees Retirement System 

How can I convert unused and unpaid leave to additional retirement credit?
Unused and unpaid leave can be converted to additional retirement credit at the time a member applies for normal retirement benefits or DROP. The employer will report the number of days to be converted on the employer request form. The days reported will be divided by 260 working days to determine the portion of a year that a member will receive as additional credit. A member cannot use leave to achieve the years required for eligibility. The member must first attain the years required and then the leave is added.

When can I go into DROP and what are the advantages of DROP?
A member is eligible to go into DROP any time AFTER becoming eligible to retire.   (See question What are the eligibility requirements for normal retirement?).

The advantage of DROP is that it enables a member to accrue a sizeable lump sum over a period of as much as 3 years, a period during which no employee contributions are being made. On the other hand, while the member participates in DROP, service credit is NOT earned. Similarly, any salary increases while the member is in DROP are NOT included for benefit purposes.

Is my retirement account subject to community property laws?
All benefits accrued under this retirement system are subject to Louisiana's community property laws. We suggest that a member seeking a divorce should address the division of these retirement benefits in a property settlement issued by a court of law.  An example can be provided by the PERS Office.