LASERS state retirement system not affected by money issues, still running strong
POSTED: Monday, November 4, 2013 - 8:00pm
UPDATED: Monday, November 4, 2013 - 8:04pm
BATON ROUGE, LA (NBC33) — One of the four state retirement systems reassured the public today it's not running out of money and continues to invest in the state and its employees.
Over the past 10 years, LASERS - the Louisiana State Employees Retirement System - paid out about $7billion and brought in $11 billion.
Fewer state employees will not affect the system - it'll save money because it won't have to pay out as much.
LASERS wants to remind state employees that they have do not have to worry about their benefits.
"LASERS was recently recognized nationally as one of the top 10 performing retirement systems in the nation for the last decade,” stated director Cindy Rougeou. “Over the past year, the value of our plan has increased and the debt has been reduced.”
Rougeou says average benefits are between $21,000 - $22,000 a year, which she says is reasonable.
LASERS is one of the four statewide retirement systems.