NEW LASERS Benefits Louisiana (2017)


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In this video, LASERS staff members show how our retirement system benefits Louisiana. [5 mins]

LASERS Benefits Louisiana and YOU by:

  • Paying over 1.2 billion dollars to our members and their beneficiaries in fiscal year 2016. Since 90 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 recent Pew Charitable Trust report;
  • Increasing the actuarial value of assets from 11.3 to 11.6 billion dollars for the fiscal year ending June 30, 2016;
  • Stabilizing the unfunded accrued liability or UAL of the System at 6.9 billion dollars and increasing our funded ratio from 62.1 to 62.6 percent;
  • Decreasing the employer normal cost or portion of retirement paid by the state to 3.93 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;
  • Initiating MINT, Millennials Investing Now for Tomorrow, which provides assistance with planning early for retirement to our millennial members;
  • By providing excellent customer service to our members in 2016:
    • Counseled over 6,500 members in our offices;
    • Held 28 individual counseling sessions throughout the state;
    • Participated in 35 workshops, reaching almost 2,000 members and retirees;
    • Provided 36 seminars, including PREP and PREP-to-Go sessions, reaching over 1,000 members;
    • Handled almost 74,000 phone calls.