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Initial Lump-Sum Benefit (ILSB)

With ILSB, you can take a portion of your retirement benefit in a one-time, lump-sum payment of up to 36 months of the Maximum Option, and still receive a monthly benefit for life at a reduced amount.

Members who have not participated in the Deferred Retirement Option Plan (DROP), and who meet one of the following retirement eligibility requirements, can choose ILSB. Eligibility is determined by the plan you are in, and when you first became a member of one of Louisiana's four state public retirement systems (TRSL, State Employees, School Employees, or State Police).

NOTE: TRSL uses service credit for two purposes: (1) to determine when you are eligible to retire, or participate in ILSB; and (2) to calculate your retirement benefit. For many members, the amount of service credit they have for retirement eligibility and benefit computation is the same. For some, however, the amounts may be different. This can happen when a member works part-time or takes sabbatical leave. You can see how much service credit you have for retirement eligibility and benefit computation purposes by reviewing your TRSL account online in Member Access.

Membership prior to January 1, 2011:

Regular Plan or Plan A

  • Any age with 30 years of service credit
  • At least age 55 with 25 years of service credit
  • At least age 60 with 10 years of service credit

Plan B

  • At least age 55 with 30 years of service credit
  • At least age 60 with 10 years of service credit

Membership between January 1, 2011, and June 30, 2015:

Regular Plan

  • At least age 60 with 5 years of service credit

Plan B

  • At least age 60 with 10 years of service credit
  • A least age 55 with 30 years of service credit

Membership on or after July 1, 2015:

Regular Plan and Plan B

  • At least age 62 with 5 years of service credit

Get a benefit estimate!

TRSL recommends that you get a benefit estimate to see how ILSB will reduce your monthly retirement benefit; this may help you determine whether the reduced benefit will be enough to cover future financial obligations. Contact TRSL to get an estimate based on ILSB participation. You will need to provide the following:

  • Benefit Estimate Request (Form 10)
  • Specific amount you want to receive as an initial lump-sum benefit
  • Specific date you plan to retire
  • Names and age(s) of your beneficiary(ies), if any

Need more information?