January 2024

Looking for a resolution that’s easy to keep? Add signing up for Member Access to your list.

Member Access is your one-stop, secure portal to access your TRSL retirement account. You can get your annual member statement, check your service credit and contributions, view your beneficiaries, and apply for retirement. Also, a vested member with at least five years of service credit can generate a benefit estimate on the online platform.

Even if you have miles to go before retirement, it’s never too early to map out the road ahead to retirement by signing up for Member Access.

Click here to register now. It’s the perfect time!

Head’s up for this year! In 2024, there will be elections for the following active member seats on the TRSL Board of Trustees:

District 5 – Active members employed in Caldwell, Catahoula, Concordia, East Carroll, East Feliciana, Franklin, Jackson, Livingston, Madison, Morehouse, Ouachita, Richland, St. Helena, Tangipahoa, Tensas, Union, West Carroll, and West Feliciana parishes

District 6 – Active members employed in Allen, Avoyelles, Beauregard, Evangeline, Grant, Jefferson Davis, LaSalle, Pointe Coupee, Rapides, St. Landry, St. Martin, Vernon, West Baton Rouge, and Winn parishes

We’ve compiled some resources to answer any questions you may have about serving on the board, including requirements, time commitment, and monthly meeting expectations.

Check out these frequently asked questions
View a recording of our recent candidate webinar
Attend a board meeting to learn more. Meeting dates are posted online.

Welcome to 2024! A new year is the perfect time to learn more about TRSL. Take a moment and read up on how TRSL performed for the fiscal year that ended June 30, 2023. Whether you want a deep dive or just a quick read, we’ve got a resource for you!

Annual Comprehensive Financial Report: If you like details, don’t miss this one. You’ll find a comprehensive account of the retirement system’s activities and operations for the fiscal year ended June 30, 2023, including TRSL’s investment performance, financial position, demographic makeup, and more.

Popular Annual Financial Report (PAFR): Looking for a quick read? The PAFR is an eight-page summary of the 146-page comprehensive financial report.

Annual Valuation Report: If you’re a numbers person, check out TRSL’s Annual Valuation Report for Fiscal Year 2023. This report is a financial snapshot of the System at fiscal year’s end with its projected funding needs. Here are some highlights from this year’s report:

Get ready for 2024 Member Webinars!

Our retirement educators, Jerri and Cliff, are about to call class into session for live and on-demand workshops and webinars. TRSL offers a variety of events designed for every point on your career path. Whether you want to learn about DROP or just want a tutorial on Member Access, we have an event for you.

Scroll through our spring sessions and register today. You can attend in person or online. And, we offer sessions after school hours to make them convenient for your schedule.

If you can’t make it to a member webinar, you can always catch the replay on TRSL’s YouTube Channel.

Subscribe to @TRSLOnline for on-demand videos as well as short clips on frequently asked questions. The entire focus is on our members.

We even have playlists that will get you ready for retirement, take you on a spin through Member Access, and answer tax questions and more. Visit us on YouTube and stop by frequently. We’re always posting something new.

CAPITOL CORNER: The latest legislative news

Mark your calendars! The 2024 Regular Legislative Session starts Monday, March 11. As always, TRSL will track every bill, committee hearing and floor debate that impacts the retirement system.

This will be a general session with legislators able to file an unlimited number of bills on any subject matter except fiscal issues dealing with revenue and taxation. Prefiling of retirement bills must occur at least 45 days before session begins.

Stay in the know with updates delivered directly to your inbox with TRSL’s eNews.

Already signed up for eNews? Click on the “manage your preferences” link at the bottom of this email to make sure you have “legislation” checked as a topic of interest.
Not yet signed up for eNews? Click here.

Pop quiz on retirement savings!

Ready for a brain teaser? Here’s the scenario. You’re a Gen Xer, which means you’re in your 40s or 50s, and you’re nearing retirement with TRSL. How many years will you be able to draw a monthly retirement income from TRSL?

The answer? It was a trick question! If you retire with TRSL, you’ll receive a lifetime benefit. That puts you in a small group of Americans with a stable retirement that they’ll never outlive.

Across the U.S., only 14% of Gen Xers in the workforce are in a defined benefit plan like the one administered by TRSL. Those 14% will have guaranteed retirement income for life. A defined benefit plan plus smart financial planning means you can enjoy your golden years without worrying about exhausting your retirement funds.

So, go ahead and live a century or more. Your retirement will be there for you.

As we enter a new year, please take time to review your TRSL beneficiary information to see if you want to make any changes or updates. Perhaps you got married or welcomed a new baby in 2023.

TRSL encourages members to review their beneficiary information on their TRSL account at least once a year, especially if members have experienced any changes in their family (marriage, divorce, birth/adoption of a child), etc.

If you are an actively working TRSL member who hasn’t participated in DROP, you can update your TRSL beneficiary(ies) at any time by completing and submitting a new Beneficiary Designation for Non-Retired Members (Form 3).

Reminder: Cost increase for actuarial calculations

An increase in the actuarial calculation fee needed for most purchases of service credit went into effect on Jan. 1. The fee for a single calculation increased from $150 to $200. Each additional calculation will still cost $50.

TRSL members can purchase service credit for certain types of teaching service and leaves of absence. Learn more in our guide to Purchases & Transfers of Service Credit.