Monday, June 17, 2024

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

by BIZ Magazine

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. 

Caddo Parish had 4,464 recipients that received a total benefit of $129,496,769. Bossier Parish had 1,946 recipients that received $56,028,380. While Webster Parish had 784 recipients totaling $20,169,971.

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.

For more information or to see the report in full, visit www.trsl.org/investments/investing_in_louisiana.

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