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| Welcome TRSL's new director! Long-time TRSL executive, Dana L. Vicknair, is the retirement system’s new director. Vicknair was selected for the position in September by the TRSL Board of Trustees. She has been with TRSL for 22 years, most recently as the assistant director overseeing departments that provide retirement, employer support, and administrative services. Prior to that, she was the System’s chief financial officer for six years. She replaces Maureen H. Westgard, who retired in December to become the executive director for the National Council on Teacher Retirement (NCTR). Vicknair received her bachelor’s degree in accounting from Southeastern Louisiana University. She is a member of the Government Finance Officers Association (GFOA) and has served on its Committee on Retirement and Benefits Administration. She is also a member of the organization, Women in Management.
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| Valuation report: TRSL assets & funding are up TRSL recently received its annual valuation report, and the news was good!
For Fiscal Year 2016-17, TRSL’s market value of assets reached an all-time high of $19.5 billion, further strengthening the retirement system’s financial position. With a funded status of 64.5%, the retirement system has 64.5 cents to cover the present value of every dollar expected to be paid in future retirement benefits. The funded status is up from 62.4% for last fiscal year.
Also, the unfunded accrued liability (UAL), which is debt the state owes to TRSL for years of underfunding, dropped by more than $465 million. Principal and interest on this debt have now been paid for the fifth consecutive year, resulting in an earlier projected payoff date.
Take a look at some of this year’s highlights below, including projected DROP interest rates, or view the entire report at www.TRSL.org. The valuation report must now be approved by the Public Retirement Systems’ Actuarial Committee (PRSAC) which should meet early this year.
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| 2017 annual reports now available The PAFR is a condensed version of the Comprehensive Annual Financial Report (CAFR) and provides an overview of TRSL’s operations, financial position, investment performance, and demographic makeup.
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| New faces on the TRSL Board of Trustees
In recent months, three new board members have taken the oath of office for the TRSL Board of Trustees.
Britt L. Colon (District 1) and Paul E. Nelson, Ph.D. (Superintendents) were elected to the board in special elections held last year to fill the unexpired terms for those seats. Their terms in office began last November and will run through December 2018.
Kelly Thompson (School Food Service) was elected without opposition last year. Her four-year term on the board began this month.
Let’s get to know the newest members of the TRSL Board of Trustees!
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| DISTRICT 1 Britt L. Colon, of Geismar, is principal of Spanish Lake Primary School in Ascension Parish. “I consider it a tremendous honor to serve on the board. I look forward to learning as much as I can about how our investments are managed and serving as a resource to my colleagues in District 1 should they have any questions or concerns.”
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SUPERINTENDENTS Paul E. Nelson, Ph.D., of Vidalia, is Tensas Parish superintendent. "I am very happy to serve as a board member and feel privileged to have the opportunity. I hope to become a knowledgeable representative for state superintendents on the board and be a constructive voice on behalf of TRSL's members."
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SCHOOL FOOD SERVICE Kelly F. Thompson, RD, LDN, of Jena, is the supervisor of child nutrition programs for the LaSalle Parish School Board. "In my role as trustee for School Food Service personnel, I look forward to advancing my knowledge of our retirement system and making the best decisions possible, all while upholding the mission and vision of TRSL."
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| Upcoming Board of Trustees elections in 2018
No matter where you are in your career, TRSL’s Board of Trustees is working to protect your future retirement income. The Board invests and monitors system assets, oversees administrative operations, promotes secure retirement benefits, and most importantly represents YOU!
That’s why your participation in TRSL Board elections is so important. The following active member seats will hold elections this year: - DISTRICT1 – for actively working members employed in Ascension, Jefferson, Plaquemines, St. Bernard, St. Charles, St. James, and St. John parishes
- DISTRICT 7 – for actively working members employed in Acadia, Calcasieu, Cameron, Iberia, Lafayette, St. Mary, and Vermilion parishes
- COLLEGES & UNIVERSITIES – for members employed at Louisiana colleges/universities
- SUPERINTENDENTS – for actively working members employed as city or parish school superintendents of schools in Louisiana
Stay tuned for important information on qualifying as a candidate and voting!
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| SAVE THE DATE: Workshops and webinars We’ve got a ton of opportunities coming up for you to learn more about your retirement! Click on the image(s) below to check out the 2018 workshops and webinars:
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| Stay informed... 2018 legislative session
The 2018 regular legislative session begins Monday, March 12. You can visit the Legislation page of our website to read up on any bills being monitored by TRSL. Or we can deliver important legislative news straight to your inbox through eNews… click here to sign up!
- Ensure that important TRSL emails don't get caught in your spam or junk folder by adding web.master@trsl.org to your contact list.
- Make sure you select “legislation” as a topic of interest.
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PO Box 94123 | Baton Rouge, LA 70804-9123 US
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