According to a recent statement, The Teachers’ Retirement System of Louisiana (TRSL) provided $2.3 billion in retirement income in Fiscal Year 2021. North Louisiana retirees and beneficiaries took home $422 million. Of that amount, $14,266,593 went to retirees in DeSoto Parish. On average, this translates to DeSoto retirees in the teacher’s system getting just a little more than the federal poverty level for a family of four.
“As the largest public retirement system in Louisiana, we are proud of the positive impact we have on the state’s economy,” said Katherine Whitney, director of the Teachers’ Retirement System of Louisiana. “TRSL’s benefit payments give more than 81,600 retirees and beneficiaries the buying power to support their communities. Their years of hard work are rewarded with a stable retirement income that allows them to invest in the local economy. Whether they’re buying groceries at the supermarket or picking up plants at the nursery, they are a powerful part of Louisiana’s economic engine.”
To see the local impact, check the chart below. DeSoto recipients averaged less than $30,000 (average $28,083.84). According to the US Census Bureau this is average for the state. Louisiana’s per capita income is stated at $29,522. The median household income was $50,580. DeSoto retirees on the teacher retirement system on average have a lower income than the statewide per capita income, and they have an income just slightly higher ($333) than the Federal Poverty Guidelines for a family of 4 at $27,750.