Friday, August 17, 2007

Outstanding investment performance lifts LASERS to top tier of public pension plans

The Louisiana State Employees’ Retirement System (LASERS) investments portfolio earned a 19.2 percent return for the year ending June 30, 2007. This phenomenal performance places LASERS in the top seven percent of public pension funds nationwide. LASERS plan assets have increased by over $1.3 billion during the period, now totaling more than $9.1 billion. The plan’s consistent strong performance has ranked in the top 12 percent and 11 percent for three and five-year returns, respectively.

Favorable returns over the past five years have continually exceeded the 8.25 percent target return set by the legislature. The excess returns generated from LASERS investments will ease the burden on taxpayers to fund the system and will provide funding for future cost-of-living adjustments (COLAs) for retirees.

LASERS is a defined-benefit pension plan providing retirement, disability, and survivor benefits to state officers and employees and their beneficiaries.