Teachers Retirement System of Louisiana (TRSL)
public plan · State of Louisiana · Baton Rouge, LA
The plan runs underfunded at 66% — $11.0B short of fully covering projected benefit obligations. Recovery typically requires multi-year amortization plus strong investment returns; both factors interact with the broader interest-rate environment.
Teachers Retirement System of Louisiana (TRSL) is a government pension plan administered by State of Louisiana. Unlike private corporate plans, the benefit guarantee flows from the sponsoring government's ongoing tax authority and contribution obligations rather than from federal insurance. The plan remains active — accruing new benefits for current employees and accepting new participants. Among private-sector single-employer plans, the active status is increasingly rare as employers freeze accruals while continuing to fund existing obligations; public-sector plans are more often still actively accruing.
Teachers Retirement System of Louisiana (TRSL) is among the larger U.S. pension plans by asset base ($21.5B). The participant pool of 172,000 divides into 82,000 actives and 90,000 retirees, a mix that shapes both cash-flow profile and investment-horizon choices. The participant mix runs roughly even between 82,000 active workers and 90,000 retirees — a balanced demographic profile that gives the plan time to compound investment returns before payouts dominate cash flow. Annual cash flows: $1.6B in sponsor contributions versus $1.8B in benefit payments. Investment performance over the most recent year ran 5.6%, against the plan's assumed long-term return of 7.2%.
PBGC risk classification: moderate. The plan's funded status puts it under enhanced monitoring but not active intervention. Public plans like Teachers Retirement System of Louisiana (TRSL) are not PBGC-insured. The benefit guarantee rests on the sponsoring government's ability and willingness to make required contributions, which interacts with state and local tax-base dynamics.
Source: DOL EFAST2 Form 5500 filings and Boston College CRR Public Plans Database.
Funding History
What This Means for You
Teachers Retirement System of Louisiana (TRSL) is 66% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $11.0B in unfunded liabilities that must be addressed through increased contributions, investment returns, or benefit adjustments. Current participants should monitor this plan and consider supplemental retirement savings.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $21.5B | $32.5B | 66.1% | $1.6B |
| 2022 | $20.9B | $32.1B | 65.0% | $1.6B |
| 2021 | $20.2B | $29.7B | 68.0% | $1.5B |
| 2020 | $19.6B | $31.6B | 62.0% | $1.5B |
| 2019 | $18.9B | $29.6B | 64.0% | $1.4B |
Frequently Asked Questions
Teachers Retirement System of Louisiana (TRSL) is 66% funded, meaning it has 66 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Teachers Retirement System of Louisiana (TRSL) has 172,000 total participants, including 82,000 active employees and 90,000 retirees currently receiving benefits.
Teachers Retirement System of Louisiana (TRSL) is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.