The Louisiana School Employees’ Retirement System (LSERS) was created on July 31, 1946 and became fully operational as of July 1, 1947, as established by Louisiana Revised Statute 11:1001.
LSERS membership1 is comprised of non-instructional personnel of the Louisiana public school system. This includes school bus operators, janitors, custodians, maintenance employees, school bus aides, monitors, and attendants; and other regular school employees who actually work on school buses helping with the transportation of school children. Employees must also work more than 20 hours per week to be a member of this system.
LSERS is one of 4 state government retirement systems and is administered by a professional staff of state employees. LSERS’ operations are financed through member and employer contributions and investment earnings on the contributions. Retirement disbursements are made with those funds and the interest generated on those funds.
LSERS is the third largest state retirement system in Louisiana and is placed, organizationally within state government, under the Department of the Treasury. It is governed by a 12-member Board of Trustees made up of 6 elected representatives (4 active employees by district and 2 retirees) and 6 appointed (ex-officio) members.
Many of LSERS members belong to the Louisiana School Bus Operators Association (LSBOA), a statewide professional association that is an effective forum where current issues are defined and means of resolution are effectively sought. Each of the parishes also has independent bus operators’ associations that work actively in defining and resolving local issues.
1Information on membership, along with assets, liabilities, and funding requirements for LSERS, is provided in the Actuarial Valuation and Auditors’ reports located on the Annual Reports page.
LSERS envisions a financially sound public retirement system for school support personnel that offers a well-integrated, broad range of services and benefits provided in accordance with constitutional and statutory provisions of law and directives from the Board of Trustees.
To enhance the financial security and quality of life for LSERS’ members and their families by offering professional and courteous service and maintaining an accountable and sound retirement program that provides comprehensive retirement benefits through prudent management and successful investment of LSERS’ assets.
LSERS is committed to providing excellent services to its members in a professional and timely manner by maintaining a well-trained staff and utilizing all available resources.
No Gifts Policy
In accordance with the Louisiana Code of Governmental Ethics (R.S. 42:1101, et seq.) Trustees and employees of the Louisiana School Employees’ Retirement System (LSERS) are unable to accept a gift or gratuity from any person or from any officer, director, agent, or employee of any company or contractor doing business with LSERS or seeking to do business with LSERS. We are prohibited from accepting “anything of economic value” for any service, where the subject is devoted substantially to the responsibilities, programs, or operations of LSERS (R.S. 42:1111). Nor can we accept anything of “economic value” from anyone who has or is seeking to obtain contractual or other business or financial relationships with LSERS (R.S. 42:1115). Notwithstanding the above prohibitions, R.S. 11:1102 (22) (a) provides that “anything of economic value” shall not include “promotional items having no substantial resale value; food, drink, or refreshments consumed by a public servant. This includes reasonable transportation and entertainment incidental thereto, while the personal guest of some person.” Anything of economic value sent to either a Trustee or employee of the system shall be returned. Your understanding and cooperation is appreciated.