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LSERS proposed employer rate for fiscal year 2014-15

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LSERS proposed employer rate for fiscal year 2014-15

LSERS proposed employer rate for fiscal year 2014-15

The Louisiana School Employees’ Retirement System (LSERS) ended the 2013-14 fiscal year on June 30 with an increase of $138.7 million in its valuation of assets equating to an actuarial return of 13.63%. The projected DROP rate is 13.13% for those in the old DROP program (eligible for DROP or IBRP retired before 1/1/2004). Additionally, the system’s funded ratio rose from 62.1% to 66.9%. These are all positive results of a very good year. 

The Board of Trustees approved the proposed employer contribution rate of 30.2% for FY 2015-16 as recommended by the system’s actuary.  This recommendation will go before the Public Retirement Systems’ Actuarial Committee (PRSAC) on November 19, 2014 for approval and, unless the legislature adopts changes, this will be the employer’s contribution rate for 2015-16.  LSERS will notify all employers of the approval after the PRSAC meeting.

If you have any questions, contact Carolyn N. Forbes, Assistant Director, at 225.925.6490 or cforbes@lsers.net