Maximum Option
Largest monthly benefit; all benefits stop at death. Only member contributions not yet paid out in benefits (or DROP deposits) are due the estate.
Your calculator amount.
Member Handbook p. 11Louisiana specificsTRSL has eight options: the Maximum, Option 1, the 2, 3 and 4 survivor options and their pop-up versions, and the Annual COLA Option. TRSL's ACO example starts at $1,892 instead of the regular amount and then grows each year. What a family gets is on survivor benefits; raises without the ACO are on COLA. The calculator shows the Maximum for your numbers.
Eight options on the retirement affidavit (Form 11E). All but the Maximum and Option 1 allow one beneficiary that can never be changed. Reductions are based on the member's age at retirement and the beneficiary's age. TRSL publishes no factors; amounts come on the affidavit. The Annual COLA Option (ACO) can be added to an option. The option chosen is irrevocable. Member Handbook pp. 11-12, Choosing a retirement option; Death & Survivor Benefits p. 13; R.S. 11:783(A)
Option amounts Check with TRSL
TRSL doesn't publish how much Options 1 to 4A (or the Annual COLA Option) lower your check. They depend on your age and your beneficiary's age.
We show the Maximum Option amount only. The other options are labelled and have no dollar figure.
Member Handbook pp. 11-12; ACO brochure p. 2Option 1 Check with TRSL
Slightly less than Maximum (age at retirement is one factor). Beneficiaries (more than one allowed, changeable any time) get a lump sum of what is left of the member's contributions/annuity value. Not available with ILSB.
Member Handbook p. 11; DROP Handbook p. 12; R.S. 11:783(A)(2) Option 1Option 2 Check with TRSL
Actuarially reduced benefit; beneficiary gets the same lifetime benefit.
Beneficiary gets 100% for life.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 2Option 2A (pop-up) Check with TRSL
Slightly less than Option 2; pops up to Maximum if the beneficiary dies first (no new beneficiary).
Beneficiary gets 100% for life; pops up to the Maximum if they die first.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 2AOption 3 Check with TRSL
More than Option 2 or 2A; beneficiary gets half for life.
Beneficiary gets 50% for life.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 3Option 3A (pop-up) Check with TRSL
More than Option 2/2A but less than Option 3; half to beneficiary; pops up to Maximum.
Beneficiary gets 50% for life; pops up to the Maximum if they die first.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 3AOption 4 Check with TRSL
Member names the beneficiary's lifetime amount, not more than the Option 2 amount; actuarially equivalent.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 4Option 4A (pop-up) Check with TRSL
As Option 4, with pop-up to Maximum.
Member Handbook p. 12; R.S. 11:783(A)(2) Option 4AGuaranteed Return of Employee Contributions: if total benefits paid to member, beneficiary and/or survivor are less than the member's contributions, the difference is refunded to the estate. Death & Survivor Benefits p. 13; R.S. 11:769
The Annual COLA Option (ACO)
Annual COLA Option: a self-funded, guaranteed 2.5% yearly increase in exchange for an actuarially reduced benefit. Applied on the retiree's anniversary date (retirement date or DROP start) once the retiree is age 55 and retired one year. Spousal lifetime beneficiaries keep it; non-spousal beneficiaries do not. Voluntary, permanent and irrevocable. Legislative COLAs (PBIs) still apply. ACO brochure p. 1; Member Handbook p. 12; R.S. 11:783(A)(4)
TRSL's ACO exampleACO brochure example: 55-year-old, 25 years, FAC $4,300/month, Option 2A for a 55-year-old spouse = $2,517/month; with ACO the initial reduced benefit is $1,892. ACO brochure p. 2, ACO retirement benefit example; Comparing benefits
| Year | With ACO | Without |
|---|---|---|
| Start | $1,892.00 | $2,517.00 |
| 1 | $1,939.30 | $2,517.00 |
| 5 | $2,140.62 | $2,517.00 |
| 10 | $2,421.92 | $2,517.00 |
| 15 | $2,740.18 | $2,517.00 |
| 20 | $3,100.26 | $2,517.00 |
| 23 | $3,338.64 | $2,517.00 |
Monthly amounts at each year, from the ACO's 2.5% a year on TRSL's starting figure. TRSL's brochure prints $1,939.00 for year 1; 2.5% on $1,892 gives $1,939.30. By the 23rd year, total ACO payments pass the regular option: $734,453 vs. $724,896. ACO brochure p. 2, ACO retirement benefit example; Comparing benefits
From the sources
- At retirement you choose one of eight options on a notarized affidavit: the Maximum Option (largest check, nothing for a beneficiary), Option 1 (slightly less; beneficiaries get a lump sum of what is left of your contributions), or Options 2, 2A, 3, 3A, 4 and 4A (lifetime benefit for one beneficiary, who can never be changed). The choice is permanent.Member Handbook pp. 11-12
- Option 2 pays your beneficiary the same amount you received; Option 3 pays half; Option 4 pays an amount you choose, up to the Option 2 amount. The 'A' versions 'pop up' to the Maximum if your beneficiary dies first.Member Handbook p. 12
- TRSL doesn't publish option factors. The reductions depend on your age and your beneficiary's age; TRSL lists your amounts on your affidavit.Member Handbook p. 11
Questions
How many payment options does TRSL have?
Eight: the Maximum Option, Option 1, Options 2 and 2A, Options 3 and 3A, and Options 4 and 4A. The "A" options pop up to the Maximum if your beneficiary dies first. You can add the Annual COLA Option to an option.
How much less do the TRSL survivor options pay?
TRSL doesn't publish the factors. They depend on your age and your beneficiary's age, and TRSL prints your amounts on your retirement affidavit.
Can I change my option later?
No. The option you choose is permanent. Under the options with a named beneficiary, the beneficiary can't be changed either.
What is the Annual COLA Option?
A 2.5% yearly raise you pay for with a smaller starting benefit. It starts once you're 55 and have been retired 1 year.
Source: TRSL Member Handbook: Regular Plan & Plan B, Last revised April 2026, pp. 11, 11-12, 12. Also: Death & Survivor Benefits p. 13; DROP Handbook p. 12; ACO brochure pp. 1, 2; La. R.S. 11:769, 11:783. Last reviewed .