Tuesday, May 1, 2012

LASERS Gives Back to Louisiana, Benefit Payments Help Fuel Economy

The recently released LASERS 2011 Economic Impact Study reveals positive information for the State of Louisiana. Key findings show the Louisiana State Employees’ Retirement System (LASERS) paid over $950 million to LASERS retirees and beneficiaries in FY 2011. LASERS average rank-and-file benefit is $21,732 per year. Because Louisiana state employees do not participate in Social Security, many members rely solely on their LASERS benefit in retirement. Approximately 90 percent of LASERS retirees live in Louisiana, with benefits creating economic security for tens of thousands of public servants and their families. One significant finding shows that benefit payments to these Louisiana residents supported over $1.1 billion in economic activity in the state.

In addition, LASERS has over $200 million invested in Louisiana companies via publicly traded securities and private investments. These investments help support thousands of jobs in the state. LASERS also manages approximately one-third of its investments internally, saving enough this year to fully offset the amount budgeted for the salaries of all LASERS employees combined. LASERS investment performance continues to rank among the best in the nation, with a 2011 fiscal year market return of 24.3 percent.

Read the LASERS 2011 Economic Impact Study for complete details.

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