TRSL benefit payments for January 2010 - on time and accurate

12/29/09 - The Teachers’ Retirement System of Louisiana (TRSL) will electronically deposit the January 2010 benefit payments on Friday, January 1, 2010—on time and accurately. This retirement income will be included on the retiree income statement, Form 1099-R, for the year 2010.

“Some TRSL retirees may have heard that another state retirement system had problems with retirement payments and that retiree 2009 tax reporting documents will include January 2010 benefits,” said TRSL Director Maureen H. Westgard. “I want to assure all TRSL retirees that their January retirement benefits will be delivered according to schedule and those payments will be reflected in the appropriate tax year.”

While TRSL will date and electronically deposit benefit payments on New Year’s Day, the retiree’s financial institution determines when those funds will be available for use. TRSL will deliver paper benefit checks to the U.S. Postal Service for mailing on Thursday, December 31, 2009, for those TRSL retirees who do not have electronic deposit. Paper checks will be dated January 1, 2010 and be reflected on Form 1099-R for year 2010.

TRSL is the largest Louisiana public pension fund with more than 160,000 active and retired members. System assets are held in trust to provide retirement income to retired members and beneficiaries.

TRSL investments add $2.1 billion to system portfolio

12/22/2009 - The Teachers’ Retirement System of Louisiana (TRSL) earned a positive 13.62-percent total investment return in the first five months of the new fiscal year. This performance allowed the System’s portfolio to grow by more than $2.1 billion since last February. Currently, the market value of TRSL’s total fund stands at $11.9 billion.

“Our investment returns have continued to improve as the markets recover,” said TRSL Director Maureen H. Westgard. “We use a disciplined investment plan that allows us to manage risk even in tough economic times.”

TRSL’s investment strategies are long-term and its portfolio is highly diversified across many types of investments. As of September 30, 2009, TRSL’s 10-year investment return ranked in the top 37 percent (best) of public pensions with assets greater than $1 billion (Wilshire Trust Universe Comparison Service, September 30, 2009).

TRSL is the largest Louisiana public pension fund with more than 160,000 active and retired members. System assets are held in trust to provide retirement income to retired members and beneficiaries.

Teachers’ retirement system appoints new chief investment officer

10/06/2009 - Philip Griffith has been named the new chief investment officer for the Teachers’ Retirement System of Louisiana (TRSL). The TRSL Board made the appointment at its October board meeting.

Griffith has been with TRSL since April 2007, serving as its deputy chief investment officer. In this position, he was responsible for assisting with the design and implementation of the System’s portfolio strategy and management. Prior to joining TRSL, Griffith was director of investments at the LSU Foundation where he oversaw a $400 million portfolio.

“Phil has 20 years of senior-level investment experience in the public and private sectors,” said TRSL Board Chair Anne H. Baker. “The Board has been very pleased with the critical analysis and expertise he provides in managing System assets. We look forward to continuing to work with him in his new role.”

Griffith received an MBA in finance from the University of New Orleans, and he holds a bachelor’s degree in economics from Tulane University. He begins in the chief investment officer position immediately.

TRSL hired the executive search firm EFL Associates of Denver last April to help in a nationwide search to fill the position.

TRSL was founded in 1936 as a public trust fund to provide retirement benefits for its members. As of June 30, 2009, the System’s total net assets are worth $11.3 billion.