Paying approximately 1.27 billion dollars to our members and their beneficiaries in fiscal year 2018. Since 92 percent of our retirees live in Louisiana, this is a real economic stimulus for our state;
Sufficiently paying down pension debt and appearing as one of the top five plans in the best shape along with West Virginia, New York, Indiana, and South Dakota according to a Pew Charitable Trust report;
Increasing the actuarial value of assets from 12.0 to 12.4 billion dollars for the fiscal year ending June 30, 2018;
Stabilizing the unfunded accrued liability or UAL of the System at 6.7 billion dollars and increasing our funded ratio from 63.7 to 64.7 percent;
Decreasing the employer normal cost or portion of retirement paid by the state to 3.72 percent. Compare that to Social Security, which costs the employer 6.2 percent, and you’ll see that LASERS is a great bargain;
Implementing pension reform adopted by the Legislature that has already resulted in $8 billion in 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 outreach to members with training classes (LEO) and our website, through the Member Connection email service, and social media;
Creating MINT, Millennials Investing Now for Tomorrow, which provides assistance with planning early for retirement to our millennial members;
Initiating the Retirement Readiness program, which integrates financial security, healthy living, and happiness/engagement to help members put the retirement puzzle pieces together;
By providing excellent customer service to our members over the past year:
Counseled over 6,288 members in our offices;
Counseled 339 individual members during 30 sessions throughout the state;
Participated in 37 workshops, reaching almost 2,600 members and retirees;
Provided 47 seminars, including PREP and PREP-to-Go sessions, reaching nearly 1,000 members;
Handled almost 75,000 phone calls.
Watch the Video
LASERS Board and staff members share an update on LASERS investments and our economic stimulus on the State of Louisiana. Click the play button to view.
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.