Legislative Retirement System
The following individuals are eligible for membership in LRS:
- Members of the General Assembly
Membership in LRS is optional for General Assembly members. All active Members of LRS prior to July 1, 2012 will remain so until they leave office. Effective July 1, 2012, anyone who first or again becomes a member of the General Assembly and is not already an active Member of LRS may make an irrevocable election at the beginning of each term of office to become a Member of LRS within two months of taking office. Once the election to become a Member of LRS is made, the election remains in force for all subsequent consecutive terms of office.
If you do not elect to participate in LRS, you will be given an opportunity to elect to become a Member upon your subsequent reelection to the General Assembly, at the beginning of your next term of offi ce. However, any such later election of LRS membership will be from that date forward only; you will not be eligible for credit for your service in the General Assembly prior to your election to become a Member of LRS. Further, if you decline to become an active LRS Member, you will be prohibited from participation in any other public retirement or pension system while serving in the General Assembly. Therefore, you should carefully consider whether your participation in LRS is the right decision for you and your family.
The current LRS benefit formula is $36 per month for each year of service.
Effective for all active members contributing on and after January 1, 2022, the benefit formula is $50 per month for each year of service, with the exception of members who serve as presiding officer of the House of Representatives (Speaker) who will receive an additional benefit for such Presiding Creditable Service.