The Louisiana School Employees’ Retirement System (LSERS) ended the 2018-19 fiscal year on June 30 with 1.96 billion in its valuation of assets, and an actuarial annual return of 5.37%. The projected DROP rate is 4.87% for those in the old DROP program (eligible for DROP or IBRP and retired before 1/1/2004). Additionally, the system’s funded ratio was 74.39% with a discount rate of 7%.
The LSERS Board of Trustees adopted the actuary’s recommended employer contribution rate of 28.7% for Fiscal Year 2020-21. This is a 0.7% reduction from the current 2019-20 employer rate of 29.4% This adopted rate will go before the Public Retirement Systems’ Actuarial Committee (PRSAC) for its consideration. PRSAC will make the final decision later in the current calendar year. Unless the legislature adopts changes, this will be the employer’s contribution rate effective 7/1/2020. LSERS will notify all employers of the final decision on the rate after the PRSAC meeting.
If you have any questions, please contact Chenfei Zhou, LSERS Assistant Director, at 225.925.6492 or via email at email@example.com.