LASERS Benefits Louisiana and YOU by:

  • Paying approximately 1.3 billion dollars to our members and their beneficiaries in fiscal year 2020. Since 92 percent of our retirees live in Louisiana, this is a real economic stimulus for our state;
  • Increasing the actuarial value of assets by $96 million, bringing the total to 12.6 billion dollars for the fiscal year ending June 30, 2020;
  • Stabilizing the unfunded accrued liability or UAL of the System at approximately 7 billion dollars, and our funded ratio at 64.1 percent;
  • Decreasing the employer normal cost or portion of retirement paid by the state to 2.35 percent. Compare that to Social Security, which costs the employer 6.2 percent, and you’ll see that LASERS is a great bargain;
  • Implementing legislative reforms since 2010 has resulted in over half a billion dollars from investment earnings applied to reduce the UAL; reforms are expected to result in a $3 billion cost savings;
  • Internally managing approximately one-third of our investments, saving millions of dollars per year in professional management fees;
  • Investing in Louisiana companies which support economic activity and enhance the investments of the pension plan;
  • Providing educational outreach to members through our website, Member Connection emails, social media, and LEO training classes (LEO);
  • Utilizing Millennials Investing Now for Tomorrow (MINT), which provides assistance with planning for retirement to our younger members;
  • Developing the Retirement Readiness program, which integrates financial security, healthy living, and happiness/engagement to help nearing retirement put the final pieces together.
  • Adapting to pandemic restrictions, LASERS continued providing excellent customer service to our members over the past year:
    • Counseled over 4,400 members
      • 275 of these were counseling appointments converted to phone or video appointments upon Governor mandated closure of state offices
    • Field educators conducted 20 Individual Counseling sessions
      • 19 sessions held at various locations throughout the state with 206 members counseled
      • 1 session converted to phone counseling due to travel restrictions with 13 members counseled
    • Participated in 25 workshops, reaching 2,021 members and retirees
    • Provided 28 seminars, including PREP and PREP-to-Go sessions, reaching almost 700 members
    • Conducted 3 Agency Education Courses for HR and payroll professionals with 54 attendees
    • Handled almost 65,000 phone calls

PENSIONS IN THE PARISHES

A report by the Louisiana Budget Project shows that Louisiana’s state pension systems are critical to working families and retirees across the state, and serve as key economic drivers in every parish in Louisiana.