US public pension profile· LASERS
Louisiana State Employees' Retirement System
Funding, investment choices and long-term returns.
Louisiana ·Fiscal year 2025
LASERS: fiscal year 2025 at a glance
- Market value of assets
- USD 17.2 billion
- Total membership
- 157,071
- Funded ratio
- 74.46%
- Assumed investment return
- 7.25%
Asset allocation in 2025
| Public equity | 53.20% |
|---|---|
| Fixed income | 20.70% |
| Private equity | 0.00% |
| Real estate | 0.00% |
| Hedge funds | 0.00% |
| Cash | 0.80% |
Returns to 2025
| One year | 12.40% |
|---|---|
| Five years | 12.50% |
| Ten years | 8.40% |
LASERS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 6.1 billion | 127,399 | 74.20% | 8.25% |
| 2002 | USD 5.6 billion | 130,038 | 70.20% | 8.25% |
| 2003 | USD 5.7 billion | 133,223 | 66.20% | 8.25% |
| 2004 | USD 6.6 billion | 137,719 | 59.60% | 8.25% |
| 2005 | USD 7.2 billion | 137,048 | 61.50% | 8.25% |
| 2006 | USD 8.0 billion | 141,817 | 64.30% | 8.25% |
| 2007 | USD 9.4 billion | 145,587 | 67.20% | 8.25% |
| 2008 | USD 9.0 billion | 151,650 | 67.60% | 8.25% |
| 2009 | USD 7.1 billion | 154,575 | 60.80% | 8.25% |
| 2010 | USD 8.1 billion | 153,718 | 57.70% | 8.25% |
| 2011 | USD 9.7 billion | 152,725 | 57.60% | 8.25% |
| 2012 | USD 9.5 billion | 150,463 | 55.90% | 8.25% |
| 2013 | USD 10.3 billion | 148,175 | 60.20% | 8.00% |
| 2014 | USD 11.6 billion | 145,699 | 59.33% | 8.00% |
| 2015 | USD 11.4 billion | 145,665 | 62.13% | 7.75% |
| 2016 | USD 10.7 billion | 145,796 | 62.61% | 7.75% |
| 2017 | USD 11.8 billion | 146,621 | 63.73% | 7.70% |
| 2018 | USD 12.3 billion | 147,787 | 64.70% | 7.65% |
| 2019 | USD 12.3 billion | 149,180 | 64.12% | 7.60% |
| 2020 | USD 11.4 billion | 149,562 | 64.08% | 7.55% |
| 2021 | USD 14.7 billion | 150,606 | 66.01% | 7.40% |
| 2022 | USD 13.2 billion | 151,318 | 66.47% | 7.25% |
| 2023 | USD 14.5 billion | 153,579 | 68.48% | 7.25% |
| 2024 | USD 16.0 billion | 155,482 | 71.44% | 7.25% |
| 2025 | USD 17.2 billion | 157,071 | 74.46% | 7.25% |
LASERS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 61.17% | 32.80% | 4.83% | 0.00% | 1.11% | 0.10% |
| 2002 | 58.22% | 36.40% | 4.11% | 0.00% | 1.17% | 0.10% |
| 2003 | 57.87% | 35.41% | 4.11% | 0.00% | 1.20% | 1.40% |
| 2004 | 63.49% | 24.67% | 4.41% | 0.00% | 2.81% | 4.61% |
| 2005 | 62.80% | 25.20% | 4.70% | 0.00% | 4.90% | 2.40% |
| 2006 | 63.40% | 23.90% | 5.20% | 0.00% | 5.10% | 2.40% |
| 2007 | 64.33% | 20.34% | 6.11% | 0.00% | 4.91% | 4.31% |
| 2008 | 54.78% | 20.92% | 8.37% | 0.00% | 14.94% | 1.00% |
| 2009 | 50.00% | 24.00% | 11.31% | 0.00% | 13.69% | 1.00% |
| 2010 | 48.20% | 25.00% | 0.00% | 0.00% | 0.00% | 1.60% |
| 2011 | 50.00% | 22.00% | 0.00% | 0.00% | 5.00% | 3.00% |
| 2012 | 50.00% | 20.00% | 0.00% | 0.00% | 6.00% | 3.00% |
| 2013 | 53.00% | 16.00% | 0.00% | 0.00% | 6.00% | 3.00% |
| 2014 | 54.90% | 13.70% | 0.00% | 0.00% | 6.50% | 2.90% |
| 2015 | 54.50% | 14.20% | 0.00% | 0.00% | 6.50% | 3.20% |
| 2016 | 53.00% | 15.40% | 0.00% | 0.00% | 7.00% | 3.00% |
| 2017 | 56.30% | 16.00% | 0.00% | 0.00% | 6.40% | 1.20% |
| 2018 | 56.70% | 16.20% | 0.00% | 0.00% | 6.50% | 1.00% |
| 2019 | 54.60% | 15.80% | 0.00% | 0.00% | 7.30% | 0.60% |
| 2020 | 47.50% | 19.40% | 0.00% | 0.00% | 6.46% | 4.60% |
| 2021 | 56.50% | 18.40% | 0.00% | 0.00% | 0.00% | 1.30% |
| 2022 | 51.90% | 19.20% | 0.00% | 0.00% | 0.00% | 0.90% |
| 2023 | 53.00% | 18.00% | 0.00% | 0.00% | 0.00% | 1.10% |
| 2024 | 53.50% | 19.60% | 0.00% | 0.00% | 0.00% | 0.90% |
| 2025 | 53.20% | 20.70% | 0.00% | 0.00% | 0.00% | 0.80% |
LASERS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -6.10% | 8.50% | Not reported |
| 2002 | -5.70% | 3.80% | Not reported |
| 2003 | 4.20% | 2.30% | Not reported |
| 2004 | 18.00% | 4.00% | Not reported |
| 2005 | 10.20% | 3.70% | Not reported |
| 2006 | 11.90% | 7.40% | Not reported |
| 2007 | 19.20% | 12.60% | Not reported |
| 2008 | -3.80% | 10.50% | Not reported |
| 2009 | -19.10% | 2.70% | Not reported |
| 2010 | 16.10% | 3.80% | 3.80% |
| 2011 | 24.30% | 6.00% | 6.70% |
| 2012 | 0.20% | 2.40% | 7.30% |
| 2013 | 12.60% | 5.70% | 8.20% |
| 2014 | 18.80% | 14.10% | 8.30% |
| 2015 | 1.70% | 11.10% | 7.40% |
| 2016 | -2.40% | 5.90% | 5.90% |
| 2017 | 15.80% | 9.00% | 5.60% |
| 2018 | 9.50% | 8.40% | 7.00% |
| 2019 | 4.40% | 5.60% | 9.80% |
| 2020 | -3.80% | 4.40% | 7.70% |
| 2021 | 35.60% | 11.50% | 8.70% |
| 2022 | -7.20% | 6.70% | 7.80% |
| 2023 | 11.70% | 7.10% | 7.70% |
| 2024 | 14.00% | 9.00% | 7.30% |
| 2025 | 12.40% | 12.50% | 8.40% |