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80 Years of LASERS

In July 1946, Governor Jimmie Davis and the Louisiana Legislature established LASERS through Act 126, creating a retirement system to serve state employees and their families. Funded with an initial $725,000, the System welcomed its first members in 1947.

Since then, LASERS has grown significantly—expanding its membership, strengthening its assets, and continuing to provide reliable retirement benefits. Through ongoing collaboration with the Legislature, the Board of Trustees and staff have implemented reforms to enhance the System’s long-term sustainability and the security of its members.

Today, LASERS stands as a strong and essential agency, built on decades of progress, responsible stewardship, and a continued commitment to those who serve Louisiana.

Explore key milestones below, or dive deeper into specific areas of our history through the sections provided.

Key Milestones in our History

  • 1946 – LASERS Established
    Created by Act 126 with 13 employees and a seven-member Board of Trustees.
  • 1947 – First Investment
    Initial investment made in U.S. Treasury bonds.
  • 1982 – $1 Billion Milestone
    Assets reached $1 billion and external investment managers were introduced.
  • 1987 – Constitutional Reform
    Louisiana established a constitutional requirement for actuarial soundness of public retirement systems.
  • 1987 – Relocation to United Plaza
    LASERS moved to its current headquarters in Baton Rouge.
  • 1992 – Experience Account Created
    Established to help fund cost-of-living adjustments (COLAs) using investment earnings.
  • 1997 – Assets Reach $4 Billion
    Continued growth marked a major financial milestone.
  • 1998 – LASERS Goes Online
    The first website launched, expanding access to member information.
  • 2013 – Assets Exceed $10 Billion
    Reflecting sustained long-term investment growth.
  • 2020 – myLASERS Launched
    A modern, secure online platform replaced Member Self-Service.
  • 2021 – Record Investment Return
    Achieved a 35.6% return—the highest in LASERS history.
  • 2023 – COLA Funding Reform
    New legislation changed how COLAs are funded and granted.
  • 2025 – Continued Financial Progress
    Assets reached $17.2 billion, and the funded ratio improved to 74.5%.

Investment Growth & Stewardship

From $1.1 million in 1947 to more than $17 billion today, the LASERS investment program has been a key driver of the System’s strength and long-term sustainability.

As a long-term investor, LASERS is guided by its Board of Trustees and a dedicated team of professionals focused on disciplined, diversified investing. Investment income provides the majority of funding for member benefits, making responsible stewardship essential to the System’s mission.

Through evolving strategies, strong governance, and a focus on managing risk, LASERS has continued to grow and adapt, ensuring retirement security for generations of members.

Chart depicting LASERS Market Value of Assets growth from 1946 - 2025

Strengthening the System

Over the decades, legislation has played a critical role in shaping LASERS—defining benefits, expanding plan options, and strengthening the System’s long-term stability. Today, LASERS administers more than 20 retirement plans.

Louisiana has been a leader in pension reform, including a 1987 constitutional requirement for actuarial soundness and subsequent reforms to improve funding and reduce long-term costs. More recent changes have generated significant savings and helped reduce the System’s unfunded liability.

Evolving Through Technology

From handwritten checks and paper records in 1946 to today’s secure, digital services, LASERS has continuously evolved to better serve its members.

Key advancements include:

  • Transitioning from manual processes to fully integrated computer systems
  • Launching online services for member access and account management
  • Enhancing cybersecurity to protect sensitive member information
  • Enabling remote work capabilities to ensure uninterrupted service

Today, LASERS uses modern, secure technology to deliver efficient, reliable service, while continuing to adapt for the future.

Leadership & Legacy

Group photo of the LASERS Board of Trustees

LASERS’ strength is built on the leadership and dedication of those who have guided the System over the years. From Board members to key staff, their decisions and service have helped shape LASERS into the organization it is today.

Key Highlights:

  • 1948: First woman appointed to the Board (Evelyn Perkins)
  • 1984: First minority Board member (Cheryl Turner)
  • 2012: Board increases to 13 members
  • 2021: Longest Serving Board Member Recognized (Barbara McManus)

Learn about our current Board of Trustees. 

People Who Shaped LASERS

As we celebrate the history of LASERS, we recognize the individuals whose leadership, service, and dedication have helped shape the System and strengthen its long-term sustainability. From Board members and executive directors to staff and advisors, these individuals played vital roles in building and guiding the retirement system through the decades.

Meet some of the people who helped shape LASERS into the organization it is today.

Cindy Rougeou

Shelley Johnson

Chief Investment Officer Robert Beale

Robert “Bobby” Beale

Suzanne Adams

Glenda Chambers

Cheryl C. Turner

Roy Schaefer, Jr.

Evelyn Perkins

Homer Robinson

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