LASERS Board Recommends Cost Saving Change

The Louisiana State Employees’ Retirement System (LASERS) Board of Trustees is recommending a legislative change that can save Louisiana $40 million. If adopted, this cost method change will lower the percent of payroll that the State would pay to the system.

LASERS Executive Director Cindy Rougeou pointed out that “Our Board is proactively finding ways to reduce the cost of the retirement system. This simple statutory change would free up real dollars that can be used by our State next year to fund other critical needs, such as reducing system debt.”