LASERS Benefits Louisiana by:
- Paying approximately 1.4 billion dollars to our members and their beneficiaries in fiscal year 2022. 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 $477 million, bringing the total to 13.8 billion dollars for the fiscal year ending June 30, 2022;
- Increasing the employer normal cost or portion of retirement paid by the state to 3.11 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, virtual seminars, and LEO training classes, including:
- Counseled 4,789 members (Conducted in-person, by video, or by phone)
- Participated in 7 workshops, reaching 363 members and retirees
- Hosted 44 seminars, including PREP and Early Career seminars, reaching 1,199 members
- Handled almost 64,000 phone calls and answered nearly 3,500 AskLASERS emails
- Hosted a virtual LASERS Open Forum for HR and payroll professionals throughout the State