• A defined Contribution Plan
• Employee contributes 7.5% of salary
• LSU contributes 6.2% of salary
• Immediately vested
Temporary employees are automatically enrolled into Social Security. If an employee wishes to enroll in DCCL, enrollment must be done within 30 days from date of hire to enroll retroactive to your original date. If enrolled past first 30 days of employment, the effective date will be delayed to the first of the following month and the contributions that were made to Social Security will NOT be transferred into your DCCL account.
Contribution is 7.5% of allowable earned compensation. Employer contributes 6.2% of allowable earned compensation.
The DCCL account is immediately vested.
Contribute for at Least Two Years: Once an employee has contributed to DCCL for two years with the LSU System, they will be defaulted into The Teachers’ Retirement System of Louisiana (TRSL) defined benefit plan and have the option to change to the defined contribution, Optional Retirement Plan. However, if the employee is part-time upon continuation, they will continue to participate in Social Security. Once the appointment becomes full-time, they will be defaulted into TRSL with the option to change to the ORP.