  Multiorbital models are important to both the correlation physics and
topological behavior of quantum materials. LiFeAs is a prototype iron pnictide
suitable for indepth investigation of this issue. Its electronic structure is
strikingly different from the prediction of the noninteracting description.
Here, a multiorbital Hubbard model for this compound is studied using a $U(1)$
slave spin theory. We demonstrate a new mechanism for a large change in the
size of the Fermi surface, namely, orbital selectivity of the energy-level
renormalization cooperating with its counterpart in the quasiparticle spectral
weight. Using this effect, we show how the dominating features of the
electronic structure in LiFeAs are understood in terms of the local
correlations alone. Our results reveal a remarkable degree of universality out
of the seemingly complex multiorbital building blocks across a broad range of
strongly correlated superconductors.
