Important Benefit Payment Information

WHEN THE 1ST FALLS ON A WEEKEND OR HOLIDAY…

Benefit payments are scheduled to be paid on the first of the month. However, receipt of your funds can be affected by whether you receive a check or direct deposit and your financial institution’s rules when the first falls on a weekend or holiday.

If you have questions regarding the availability of your funds, please contact your financial institution directly for information on when your funds will be made available to you. That decision is made by your financial institution, not LASERS. If you have not received your direct deposit by the first business day of the month, please contact LASERS at 225.922.0600 (Baton Rouge) or 800.256.3000 (Toll-free).

ATTENTION RSEA MEMBERS

On your September 1, 2020 LASERS benefit check, you may have noticed a 50 cent increase in your normal $1.50 monthly RSEA membership deduction. That increase was caused by a LASERS computer error. RSEA has not changed membership dues.

The following steps are being taken over the next two months to correct the overcharge:

  • October 1, 2020 Benefit Check:Your normal RSEA membership deduction will be decreased by 50 cents.
  • November 1, 2020 Benefit Check:Your RSEA membership deduction will return to the normal amount.

If you have any questions, please contact Member Services at 225.922.0600 or (toll-free) at 800.256.3000.

ARE YOU SIGNED UP FOR DIRECT DEPOSIT?

Paper checks are mailed for delivery on the first of each month. However, delivery can be delayed for various reasons. If you have not received your monthly benefit check by the fifth business day of the month, you should take the following steps:

  1. Notify LASERS in writing that you wish to have the check reissued. The written notification must include your name, Social Security number, and signature.
  2. Sign up for Direct Deposit to avoid this problem in future.
  3. Complete Form 04-05: Authorization for Direct Deposit, to start the process.

THE CURRENT CORONAVIRUS SITUATION

Despite the COVID-19 situation, rest assured that payment of your monthly benefit is a top priority. Direct deposits are guaranteed to be in your bank or credit union on the first of the month.

If you have any concerns regarding the financial stability of LASERS during this time, please read our statement at lasersonline.org/covid19.