Retirees and others who receive TRSL benefit payments should receive their Form 1099-R in the mail by January 31. Please contact TRSL if you have not received your 1099-R by February 7. View your 1099-R online through MEMBER ACCESS, starting February 1.

TRSL Valuation: Funded status jumps; projected DROP interest rate announced

October 9, 2019

Baton Rouge—The latest actuarial valuation report for the Teachers’ Retirement System of Louisiana (TRSL) shows the System’s funded status continues to climb, reaching 67.1%, up from 65.8% last year.

The funded ratio is a measure of the retirement system’s assets against its liabilities and is a metric commonly used to gauge a pension plan’s financial position. The funded status has increased 23% from 2010 when the full economic impact of the 2008 market downturn was felt by the System.

Additionally, TRSL’s valuation assets again set a new all-time high, reaching $21.2 billion—an increase of $863 million over last year, and the unfunded accrued liability (UAL) decreased to $10.3 billion from $10.5 billion last fiscal year. Principal and interest on this debt has now been paid for the seventh consecutive year.

DROP interest: The valuation report projected the FY 2019 DROP interest rate for accounts belonging to members who were eligible to participate in the program prior to January 1, 2004. Those DROP accounts will earn 6.98%, subject to approval of the TRSL’s valuation report by the Public Retirement Systems’ Actuarial Committee (PRSAC).

DROP accounts for members who were eligible to participate on or after January 1, 2004, earn interest at the liquid asset money market rate of return, which averaged 1.8940% in FY 2019.
 
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