The Louisiana School Employees’ Retirement System (LSERS) ended the 2014-15 fiscal year on June 30 with an increase of $125.8 million in its valuation of assets equating to an actuarial return of 11.63%. The projected DROP rate is 11.13% 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 66.9% to 70.71%.
The Board of Trustees approved the proposed employer contribution rate of 27.3% for FY 2016-17 as recommended by the system’s actuary. This recommendation will go before the Public Retirement Systems’ Actuarial Committee (PRSAC) later in this fiscal year, unless the legislature adopts changes, this will be the employer’s contribution rate for 2016-17. 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.
