Refund of Contributions

You can view your employee contribution balance in your myLASERS account. You can choose to leave your accumulated contributions and time in LASERS, and if you return to a LASERS-eligible position, you will pick up with the service credit you left in the retirement system, and continue accruing towards a lifetime benefit.

Alternatively, you can apply to forfeit your rights to a lifetime benefit and refund your employee contributions. To refund, you must be terminated from all state service prior to applying. You must complete and return Form 02-01 Refund of Accumulated Contributions with a photocopy of your Social Security card. The form can be completed in your myLASERS account. Alternatively, you may fax the form to 225.935.2856 or mail it to LASERS / PO Box 44213 / Baton Rouge, LA 70804. If you are rolling the contributions over, your financial institution must complete Section 5. Refunding your contributions will remove all service credit from LASERS. The average processing time for a refund is 90 days.

Read the application in its entirety. If the contributions are not rolled into an IRA, LASERS must withhold 20% for federal taxes, and when you file your taxes the following year, the IRS will penalize you 10% on the gross distribution for early withdrawal. If you roll the contributions to an IRA, you will not be taxed at the time of the rollover. Refund of Contributions