Retirees
Manage your payment, taxes and records, and see how cost-of-living adjustments work.
Your monthly payment
Benefits are paid by electronic transfer to a checking or savings account, and funds are available on the first banking day of each month. Each payment covers that entire month.
To change banks, send an Authorization for Electronic Direct Deposit with a bank representative’s signature.
Taxes
Monthly benefits are subject to federal income tax. They’re exempt from Louisiana state income tax, but you must claim the exemption on Schedule E of Form IT-540 every year.
- Change withholding: send a signed Form W-4P or letter.
- Replace a 1099-R: send a signed request by mail, fax or email, with a return address.
Cost-of-living adjustments
A COLA isn’t automatic. The Board can grant one only when investment earnings exceed what the Fund needs, and when the funding rules set by law are met.
The last announcement on the current site is a 2.5% increase approved February 24, 2015. Read the notice or how COLAs are funded.
Who can receive one
- A COLA can’t exceed 2.5% of your normal monthly benefit.
- You must have been receiving benefits for at least one full calendar year.
- If you retired before age 60, a three-year waiting period applies from your retirement date.
- The Board may instead grant a 2% supplemental COLA to recipients age 65 and over.
Working after you retire
You can return to a sheriff’s office part-time and keep your benefit, within limits. Earnings beyond the limit suspend your benefit for the rest of the fiscal year.
| Time since retirement | Fiscal-year earnings limit |
|---|---|
| First 24 months | 50% of your final average compensation |
| Month 25 and after | 55% of your final average compensation |
Full-time reemployment has different rules. Read the part-time notice or the handbook section on reemployment, then call before you accept a job.
Keep your record current
Your address, beneficiary information and bank details keep your payments and notices on time. If your spouse dies and you chose Option 2A or 3A, send the death certificate and a written request to change to the Maximum. The change isn’t retroactive.