Participation in Social Security is generally required of temporary classified employees and is one option available for temporary Academic and Non-Classified employees. (View the Retirement Plan Options Chart for the eligibility requirements and exceptions.) Note: Participation in Social Security is mandatory for transient employees, as well as for student employees and graduate assistants who are not enrolled on a campus of the LSU System. Employees who participate in Social Security are covered by the Old-age and Survivors' Disability Insurance of the Social Security Program and therefore may become eligible for benefits in accordance with the laws governing this program.
Overview
- Employee contribution is 6.2% of salary
- AgCenter contribution is 6.2%
- Minimum eligibility requirements for benefit payments:
- Must have forty quarters of coverage (equivalent to about 10 years of contributions)
- Full retirement benefits begin between ages 65 and 67 (depending on year of birth)
- Early retirement with reduced benefits is permitted at age 62
Social Security Related Forms
Important Information About Social Security
- Some federal employees and employees of state or local government agencies may be eligible for pensions that are based on earnings not covered by Social Security.
- If you did not pay Social Security taxes on your government earnings and you are eligible for Social Security benefits, the formula used to figure your benefit amount may be modified, giving you a lower Social Security benefit.
- The two laws which may affect your benefit are the Windfall Elimination Provision and the Government Pension Offset.
For additional information about Social Security, visit their Web sites at www.socialsecurity.gov and www.socialsecurity.org.