Sunday, May 26, 2024

$425M in retirement paid to north Louisiana residents in FY22

by BIZ Magazine

BATON ROUGE — The latest economic impact report from the Teachers’ Retirement System of Louisiana (TRSL) shows that retirement dollars are fueling regional economies across Louisiana. 

In Fiscal Year 2022, TRSL provided $425 million in retirement income to retirees and beneficiaries in North Louisiana (see chart below for a parish-by-parish breakdown). Statewide, TRSL retirees took home $2 billion. 

 Other highlights from the report:

  • TRSL pensions support approximately 15,507 Louisiana jobs and more than $719 million in income.
  • TRSL has invested more than $1.1 billion in companies that do business in Louisiana, supporting economic and job growth in the state.
  • Almost 90% of the retirement dollars TRSL pays out goes to individuals who live in Louisiana, where they buy local goods and services.
  • Less than a penny of every dollar spent at TRSL is for administrative expenses. TRSL provides a high level of service at a low cost.

More information on TRSL’s economic impact can be found in the 2023 Investing in Louisiana report.

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