Teachers retirement fund earns $1B
BATON ROUGE - Hefty investment earnings increased the Teachers Retirement System of Louisiana's assets more than $1 billion during the past fiscal year ending June 30.
TRSL Executive Director Maureen Westgard says the investment return was 13.8 percent.
System assets jumped from $13.5 billion to $14.66 billion, according to the latest valuation report by TRSL's actuary Shelley Johnson of Foster & Foster Actuaries.
On those earnings, TRSL paid $1.6 billion in annual benefits to some 70,000 retirees.
From retirees' perspective, Westgard said there is a potential for a small cost-of-living adjustment because of the $219.7 million deposited in what is called an "experience account."
She said it would likely be similar to the 1.5 percent of Social Security based on the Consumer Price Index.