Louisiana Deferred Compensation Plan (DCCL)
In lieu of Social Security, The Louisiana Deferred Compensation Plan (DCCL) is offered as a retirement plan option to part-time or temporary employees and those employees with special circumstances as defined above.
Effective Date of Enrollment:
As a temporary employee you are automatically enrolled into Social Security. If you wish to enroll in DCCL, you have 30 days from your date of hire to enroll retroactive to your original date.
If you wait past your first 30 days of employment to enroll, your 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.
Your contribution is 7.5% of your allowable earned compensation. Your employer contributes 6.2% of your allowable earned compensation.
Your DCCL Account is immediately vested.
Termination of DCCL Contributions if:
You will be able to access these funds upon separation from service without any age requirement or penalty. You will be unable to access these funds until you actually separate employment from the LSU System.
- You Contribute for at Least Two Years:
Once you have contributed to DCCL for two years with the LSU System, you 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 you are a part-time employee upon continuation, you will continue to participate in Social Security. Once your appointment becomes full-time, you will be defaulted into TRSL with the option to change to the ORP.