Teachers Retirement System of Louisiana. Employer Pension Report For Fiscal Year Ended June 30, 2016

Transcription

1 Teachers Retirement System of Louisiana Pension Report For Fiscal Year Ended June 30, 2016

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3 TABLE OF CONTENTS Page Independent Auditor s Report Report on Pension Schedules... 5 Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Pension Schedules Performed in Accordance with Government Auditing Standards... 8 Schedules 2016 Schedule of Allocations Schedule of Pension Amounts by...21 Notes to Schedules...40 Supplementary Information Schedule of Proportionate Share of Contributions: & Non- Contributing Entities...51 Schedule of Net Pension Liability Sensitivity to Change in Discount Rate...61 Schedule of Remaining Amortization...71 Schedule of Change in Net Pension Liability and Deferred Inflows Due to Change in Proportion...84 Explanation of Acronyms...94

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5 Teachers Retirement System of Louisiana (TRSL) - 5

6 Teachers Retirement System of Louisiana (TRSL) - 6

7 Teachers Retirement System of Louisiana (TRSL) - 7

8 Teachers Retirement System of Louisiana (TRSL) - 8

9 Teachers Retirement System of Louisiana (TRSL) - 9

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11 Schedule of Allocations June 30, 2016

12 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage ACADIA PARISH SCHOOL BOARD $ 10,474, % ALLEN PARISH SCHOOL BOARD 5,805, % ASCENSION PARISH SCHOOL BOARD 26,950, % ASSUMPTION PARISH SCHOOL BOARD 4,914, % AVOYELLES PARISH SCHOOL BOARD 4,976, % BEAUREGARD PARISH SCHOOL BOARD 7,304, % BIENVILLE PARISH SCHOOL BOARD 3,563, % BOSSIER PARISH SCHOOL BOARD 25,558, % CADDO PARISH SCHOOL BOARD 48,119, % CALCASIEU PARISH SCHOOL SYSTEM 44,494, % CALDWELL PARISH SCHOOL BOARD 2,359, % CAMERON PARISH SCHOOL BOARD 2,350, % CATAHOULA PARISH SCHOOL BOARD 1,635, % CLAIBORNE PARISH SCHOOL BOARD 2,056, % CONCORDIA PARISH SCHOOL BOARD 3,976, % DESOTO PARISH SCHOOL BOARD 8,030, % EAST BATON ROUGE PARISH SCHOOL SYSTEM 56,334, % EAST CARROLL PARISH SCHOOL BOARD 1,189, % EAST FELICIANA PARISH SCHOOL BOARD 2,026, % EVANGELINE PARISH SCHOOL BOARD 6,048, % FRANKLIN PARISH SCHOOL BOARD 3,264, % GRANT PARISH SCHOOL BOARD 2,888, % IBERIA PARISH SCHOOL BOARD 15,698, % IBERVILLE PARISH SCHOOL BOARD 7,604, % JACKSON PARISH SCHOOL BOARD 2,648, % JEFFERSON PARISH PUBLIC SCHOOL SYSTEM 53,162, % JEFFERSON DAVIS PARISH SCHOOL BOARD 6,711, % LAFAYETTE PARISH SCHOOL SYSTEM 35,530, % Teachers Retirement System of Louisiana (TRSL) - 12

13 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage LAFOURCHE PARISH SCHOOL BOARD $ 18,313, % LASALLE PARISH SCHOOL BOARD 3,101, % LINCOLN PARISH SCHOOL BOARD 7,807, % LIVINGSTON PARISH PUBLIC SCHOOLS 27,688, % MADISON PARISH SCHOOL BOARD 1,689, % MOREHOUSE PARISH SCHOOL BOARD 3,888, % NATCHITOCHES PARISH SCHOOL BOARD 7,583, % ORLEANS PARISH SCHOOL BOARD 6,262, % OUACHITA PARISH SCHOOL BOARD 23,659, % PLAQUEMINES PARISH SCHOOL BOARD 7,797, % POINTE COUPEE PARISH SCHOOL BOARD 3,091, % RAPIDES PARISH SCHOOL BOARD 26,945, % RED RIVER PARISH SCHOOL BOARD 2,370, % RICHLAND PARISH SCHOOL BOARD 3,703, % SABINE PARISH SCHOOL BOARD 5,305, % ST BERNARD PARISH SCHOOL BOARD 8,081, % ST CHARLES PARISH PUBLIC SCHOOLS 17,094, % ST. HELENA PARISH SCHOOL SYSTEM 1,267, % ST JAMES PARISH SCHOOL BOARD 7,114, % ST JOHN THE BAPTIST PARISH SCHOOL BOARD 7,816, % ST. LANDRY PARISH SCHOOL BOARD 15,580, % ST. MARTIN PARISH SCHOOL BOARD 8,871, % ST. MARY PARISH SCHOOL BOARD 10,668, % ST. TAMMANY PARISH SCHOOL BOARD 50,173, % TANGIPAHOA PARISH SCHOOL SYSTEM 21,258, % TENSAS PARISH SCHOOL BOARD 789, % TERREBONNE PARISH SCHOOL SYSTEM 19,290, % UNION PARISH SCHOOL BOARD 2,290, % Teachers Retirement System of Louisiana (TRSL) - 13

14 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage VERMILION PARISH SCHOOL BOARD $ 10,748, % VERNON PARISH SCHOOL BOARD 10,062, % WASHINGTON PARISH SCHOOL SYSTEM 5,605, % WEBSTER PARISH SCHOOL BOARD 6,881, % WEST BATON ROUGE PARISH SCHOOL BOARD 6,459, % WEST CARROLL PARISH SCHOOL BOARD 2,217, % WEST FELICIANA PARISH SCHOOL BOARD 3,348, % WINN PARISH SCHOOL BOARD 2,709, % BOGALUSA CITY SCHOOLS 2,459, % MONROE CITY SCHOOLS 11,708, % LOUISIANA TECH UNIVERSITY 9,706, % NORTHWESTERN STATE UNIVERSITY 7,187, % LOUISIANA STATE UNIVERSITY 76,435, % UNIVERSITY OF NEW ORLEANS 10,262, % LSU HEALTH SCIENCES CENTER, NEW ORLEANS 29,491, % NICHOLLS STATE UNIVERSITY 5,397, % SOUTHEASTERN LOUISIANA UNIVERSITY 10,710, % UNIVERSITY OF LOUISIANA AT LAFAYETTE 19,423, % GRAMBLING STATE UNIVERSITY 4,845, % SOUTHERN UNIVERSITY AND A&M COLLEGE 10,253, % SOUTHERN UNIVERSITY AT NEW ORLEANS 2,340, % TANGIPHAHOA FEDERATION OF TEACHERS 15, % DELGADO COMMUNITY COLLEGE 8,889, % SOWELA TECHNICAL COMMUNITY COLLEGE 1,751, % LOUISIANA ASSOCIATION OF EDUCATORS 225, % MCNEESE STATE UNIVERSITY 5,889, % UNIVERSITY OF LOUISIANA AT MONROE 8,600, % Teachers Retirement System of Louisiana (TRSL) - 14

15 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage L. E. FLETCHER TECH COMMUNITY COLLEGE $ 995, % LOUISIANA HIGH SCHOOL ATHLETIC ASSOC 78, % ST. TAMMANY FEDERATION OF TEACHERS 33, % LOUISIANA STATE UNIVERSITY-SHREVEPORT 1,611, % SOUTH CENTRAL LOUISIANA TECH COLLEGE 1,144, % SOUTHERN UNIVERSITY AT SHREVEPORT 1,959, % UNITED TEACHERS OF NEW ORLEANS 36, % LSU HEALTH SCIENCES CENTER-SHREVEPORT 15,221, % NUNEZ COMMUNITY COLLEGE 1,143, % NORTHSHORE TECHNICAL COMMUNITY COLLEGE 1,451, % NORTHWEST LOUISIANA TECHNICAL COLLEGE 1,070, % LOUISIANA FEDERATION OF TEACHERS 29, % SPECIAL EDUCATION DIST #1 OF LAFOURCHE 216, % RAPIDES FED OF TCHRS/SCH EMPLOYEES 16, % LOUISIANA STATE SENATE 46, % LA HOUSE OF REPRESENTATIVES 27, % CENTRAL LA TECHNICAL COMMUNITY COLLEGE 1,035, % ASSOCIATED PROFESSIONAL EDUCATORS OF LA 33, % WARE YOUTH CENTER 12, % HUEY P LONG MEDICAL CENTER 1, % LA STATE EMPLOYEES RETIREMENT SYSTEM 79, % LOUISIANA LEGISLATIVE AUDITOR 77, % BOSSIER PARISH COMMUNITY COLLEGE 3,498, % LSU HS-HCSD/LALLIE KEMP MEDICAL CENTER 647, % SOUTH LOUISIANA COMMUNITY COLLEGE 2,889, % ST BERNARD PORT, HARBOR & TERMINAL DIST. 66, % WEBSTER PARISH SALES TAX COMMISSION 52, % Teachers Retirement System of Louisiana (TRSL) - 15

16 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage NEW VISION LEARNING ACADEMY $ 396, % BATON ROUGE COMMUNITY COLLEGE 4,962, % RIVER PARISHES COMMUNITY COLLEGE 793, % LA COMMUNITY & TECHNICAL COLLEGE SYSTEM 2,139, % VIRGIL BROWNE GLENCOE CHARTER SCHOOL 394, % AVOYELLES PUBLIC CHARTER SCHOOL INC. 573, % LSU HEALTH CARE SERVICES DIVISION 1,610, % DELHI CHARTER SCHOOL 968, % LOUISIANA DELTA COMMUNITY COLLEGE 2,483, % CITY OF BAKER SCHOOL SYSTEM 1,427, % ZACHARY COMMUNITY SCHOOL BOARD 6,269, % ALGIERS CHARTER SCHOOLS ASSOCIATION 4,561, % ADVOCATES FOR ACADEMIC EXCELLENCE 1,070, % FRENCH AND MONTESSORI EDUCATION, INC 994, % ADVOCATES FOR SCIENCE & MATHEMATICS EDUC 623, % ADVOCATES FOR ARTS-BASED EDUCATION CORP 2,177, % LAKE FOREST ELEMENTARY CHARTER 604, % HYNES CHARTER SCHOOL 900, % WARREN EASTON SR. HIGH SCHOOL 1,061, % EINSTEIN CHARTER SCHOOL 1,955, % ADVOCATES FOR INNOVATIVE SCHOOLS 293, % CENTRAL COMMUNITY SCHOOL SYSTEM 5,318, % THE MAXINE GIARDINA CHARTER SCHOOL, INC. 172, % LOUISIANA STATE BOARD OF NURSING 37, % GREATER LAFOURCHE PORT COMMISSION 13, % NEW ORLEANS CHARTER SCHOOLS FOUNDATION % MADISON PREPARATORY ACADEMY 495, % DARBONNE WOODS CHARTER SCHOOL 852, % Teachers Retirement System of Louisiana (TRSL) - 16

17 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage MORRIS JEFF COMMUNITY SCHOOL $ 884, % BAYOU COMMUNITY ACADEMY 382, % SLAUGHTER COMMUNITY CHARTER SCHOOL 287, % NEW BEGINNINGS SCHOOLS FOUNDATION 2,334, % ST. BD. OF CERTIFIED PUBLIC ACCOUNTANTS 9, % REED ELEMENTARY SCHOOL-RENEW SCHOOLS 1,048, % ALMA J. BROWN/GRAMBLING LAB SCHOOL 36, % A. E. PHILLIPS LABORATORY SCHOOL 93, % LSU UNIVERSITY HIGH SCHOOL 1,653, % NORTHWESTERN STATE UNIVERSITY LAB SCHOOL 20, % SOUTHEASTERN LABORATORY SCHOOL 20, % SOUTHERN UNIVERSITY LABORATORY SCHOOL 588, % LCTCS ONLINE 82, % BEEKMAN CHARTER SCHOOL 814, % DELTA CHARTER GROUP 476, % MADISON TALLULAH CHARTER SCHOOL 365, % NORTHSHORE CHARTER SCHOOLS, INC 735, % INSPIRE NOLA CHARTER SCHOOLS, INC. 3,094, % LOUISIANA PHYSICAL THERAPY BOARD 10, % NORTHEAST CLAIBORNE CHARTER SCHOOL 82, % ORLEANS LEVEE DISTRICT 17, % LEGISLATIVE FISCAL OFFICE 28, % DOWNSVILLE COMMUNITY CHARTER SCHOOL 432, % DIV OF ADMIN - EXECUTIVE OFFICE 20, % DIVISION OF ADMINISTRATION 191, % OFC OF COASTAL PROTECTION & RESTORATION 51, % GOVERNOR'S OFFICE OF HOMELAND SECURITY 20, % Teachers Retirement System of Louisiana (TRSL) - 17

18 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage STATE MILITARY DEPARTMENT $ 129, % LOUISIANA PUBLIC DEFENDER BD 22, % DEPARTMENT OF VETERANS AFFAIRS 27, % SECRETARY OF STATE 30, % OFFICE OF LIEUTENANT GOVERNOR 17, % LOUISIANA PUBLIC SERVICE COMMISSION 28, % LA DEPT OF AGRICULTURE & FORESTRY 109, % OFF OF THE STATE LIBRARY OF LA 19, % OFFICE OF STATE MUSEUM 41, % OFFICE OF CULTURAL DEVELOPMENT 34, % OFFICE OF TOURISM 31, % ENGINEERING AND OPERATIONS 127, % FLORIDA PARISHES HUMAN SVCS AUTHORITY 17, % CAPITAL AREA HUMAN SERVICE DISTRICT 21, % MEDICAL VENDOR ADMINISTRATION 74, % DEPARTMENT OF HEALTH AND HOSPITALS 180, % SOUTH CENTRAL LA HUMAN SERVICES AUTH. 42, % OFFICE OF PUBLIC HEALTH 180, % OFFICE OF BEHAVIORAL HEALTH 209, % DEPT OF HEALTH & HOSPITALS/OCDD OFFICES 107, % DEPARTMENT OF CHILDREN & FAMILY SERVICES 57, % CENTRAL LOUISIANA HUMAN SERVICE DISTRICT 18, % DEPT. OF PUBLIC SAFETY & CORRECTIONS - ADMIN 18, % LA STATE PENITENTIARY 117, % OFFICE OF JUVENILE JUSTICE 699, % AVOYELLES CORRECTIONAL CENTER 51, % LA CORRECTIONAL INST WOMEN 53, % Teachers Retirement System of Louisiana (TRSL) - 18

19 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage DIXON CORRECTIONAL INSTITUTE $ 136, % ELAYN HUNT CORRECTIONAL CENTER 64, % DAVID WADE CORRECTIONAL CENTER 65, % RAYBURN CORRECTIONAL CENTER 78, % PUB SAFETY OFF OF MGT & FIN 14, % OFFICE OF STATE POLICE 57, % PUBLIC SAFETY OFFICE OF MOTOR VEHICLES 4, % OFFICE OF CONSERVATION 23, % OFFICE OF COASTAL MANAGEMENT 17, % LOUISIANA DEPARTMENT OF REVENUE 34, % LOUISIANA WORKFORCE COMMISSION 38, % DEPT OF WILDLIFE & FISHERIES-MGMNT & FINANCE 5, % WILDLIFE & FISHERIES OFF OF SEC 24, % OFFICE OF WILDLIFE 28, % DEPARTMENT OF STATE CIVIL SERVICE 14, % DPT OF STATE CIVIL SVC - BRD OF TAX APPEALS 20, % BOARD OF SUPERVISORS-UNIV. OF LA SYSTEM 160, % LA SCH FOR THE DEAF & VISUALLY IMPAIRED 1,642, % LA SPECIAL EDUCATION CENTER 492, % LA SCHOOL FOR MATH, SCIENCE AND THE ARTS 915, % BOARD OF ELEMENTARY & SECONDARY EDUC/DOA 155, % BOARD OF REGENTS 507, % NEW ORLEANS CENTER FOR CREATIVE ARTS 842, % LA UNIVERSITIES MARINE CONSORTIUM 305, % LOUISIANA DEPARTMENT OF EDUCATION 1,805, % RECOVERY SCHOOL DISTRICT OF LOUISIANA 284, % Teachers Retirement System of Louisiana (TRSL) - 19

20 Schedule of Allocations - June 30, 2016 Projected Required Contributions Allocation Percentage SPECIAL SCHOOL DISTRICTS $ 1,180, % STATE EMPLOYEES GROUP BENEFITS 15, % PRISON ENTERPRISES 36, % DIV OF ADMIN - OFFICE OF TECHNOLOGY SVCS 111, % OFFICE OF STATE PROCUREMENT 8, % OFFICE OF STATE HUMAN CAPITAL MANAGEMENT 35, % OFFICE OF ENVIRONMENTAL COMPLIANCE 21, % OFFICE OF ENVIRONMENTAL SERVICES 13, % TOTAL $1,090,859, % The accompanying notes are an integral part of these schedules. Teachers Retirement System of Louisiana (TRSL) - 20

21 Schedule of Pension Amounts by As of and for the Year Ended June 30, 2016

22 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability ACADIA PARISH SCHOOL BOARD $ (112,701,130) $ - $ 8,204,380 $ - $ 8,204,380 $ (2,225,034) $ - $ (2,225,034) $ 11,497,925 ALLEN PARISH SCHOOL BOARD (62,462,483) - 4,547,123-4,547,123 (1,233,183) - (1,233,183) 6,372,509 ASCENSION PARISH SCHOOL BOARD (289,966,485) - 21,108,885-21,108,885 (5,724,746) - (5,724,746) 29,582,781 ASSUMPTION PARISH SCHOOL BOARD (52,878,647) - 3,849,442-3,849,442 (1,043,972) - (1,043,972) 5,394,753 AVOYELLES PARISH SCHOOL BOARD (53,544,017) - 3,897,880-3,897,880 (1,057,108) - (1,057,108) 5,462,635 BEAUREGARD PARISH SCHOOL BOARD (78,589,221) - 5,721,112-5,721,112 (1,551,570) - (1,551,570) 8,017,781 BIENVILLE PARISH SCHOOL BOARD (38,338,163) - 2,790,929-2,790,929 (756,902) - (756,902) 3,911,312 BOSSIER PARISH SCHOOL BOARD (274,992,320) - 20,018,801-20,018,801 (5,429,114) - (5,429,114) 28,055,096 CADDO PARISH SCHOOL BOARD (517,735,625) - 37,689,948-37,689,948 (10,221,543) - (10,221,543) 52,820,103 CALCASIEU PARISH SCHOOL SYSTEM (478,730,918) - 34,850,497-34,850,497 (9,451,481) - (9,451,481) 48,840,789 CALDWELL PARISH SCHOOL BOARD (25,386,164) - 1,848,054-1,848,054 (501,194) - (501,194) 2,589,931 CAMERON PARISH SCHOOL BOARD (25,290,390) - 1,841,082-1,841,082 (499,303) - (499,303) 2,580,160 CATAHOULA PARISH SCHOOL BOARD (17,599,494) - 1,281,202-1,281,202 (347,463) - (347,463) 1,795,525 Teachers Retirement System of Louisiana (TRSL) - 22

23 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability CLAIBORNE PARISH SCHOOL BOARD $ (22,131,380) $ - $ 1,611,113 $ - $ 1,611,113 $ (436,935) $ - $ (436,935) $ 2,257,874 CONCORDIA PARISH SCHOOL BOARD (42,784,134) - 3,114,585-3,114,585 (844,678) - (844,678) 4,364,896 DESOTO PARISH SCHOOL BOARD (86,399,716) - 6,289,698-6,289,698 (1,705,771) - (1,705,771) 8,814,618 EAST BATON ROUGE PARISH SCHOOL SYSTEM (606,120,770) - 44,124,181-44,124,181 (11,966,512) - (11,966,512) 61,837,278 EAST CARROLL PARISH SCHOOL BOARD (12,803,292) - 932, ,050 (252,773) - (252,773) 1,306,210 EAST FELICIANA PARISH SCHOOL BOARD (21,807,087) - 1,587,505-1,587,505 (430,533) - (430,533) 2,224,789 EVANGELINE PARISH SCHOOL BOARD (65,077,484) - 4,737,489-4,737,489 (1,284,811) - (1,284,811) 6,639,295 FRANKLIN PARISH SCHOOL BOARD (35,124,224) - 2,556,962-2,556,962 (693,450) - (693,450) 3,583,422 GRANT PARISH SCHOOL BOARD (31,081,419) - 2,262,655-2,262,655 (613,634) - (613,634) 3,170,969 IBERIA PARISH SCHOOL BOARD (168,904,513) - 12,295,855-12,295,855 (3,334,645) - (3,334,645) 17,231,872 IBERVILLE PARISH SCHOOL BOARD (81,824,873) - 5,956,660-5,956,660 (1,615,451) - (1,615,451) 8,347,887 JACKSON PARISH SCHOOL BOARD (28,491,770) - 2,074,135-2,074,135 (562,507) - (562,507) 2,906,770 Teachers Retirement System of Louisiana (TRSL) - 23

24 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability JEFFERSON PARISH PUBLIC SCHOOL SYSTEM $ (571,998,532) $ - $ 41,640,162 $ - $ 41,640,162 $ (11,292,844) $ - $ (11,292,844) $ 58,356,080 JEFFERSON DAVIS PARISH SCHOOL BOARD (72,211,811) - 5,256,852-5,256,852 (1,425,662) - (1,425,662) 7,367,149 LAFAYETTE PARISH SCHOOL SYSTEM (382,284,342) - 27,829,410-27,829,410 (7,547,357) - (7,547,357) 39,001,176 LAFOURCHE PARISH SCHOOL BOARD (197,038,540) - 14,343,947-14,343,947 (3,890,089) - (3,890,089) 20,102,144 LASALLE PARISH SCHOOL BOARD (33,367,197) - 2,429,054-2,429,054 (658,761) - (658,761) 3,404,168 LINCOLN PARISH SCHOOL BOARD (84,006,192) - 6,115,455-6,115,455 (1,658,516) - (1,658,516) 8,570,428 LIVINGSTON PARISH PUBLIC SCHOOLS (297,912,777) - 21,687,357-21,687,357 (5,881,628) - (5,881,628) 30,393,473 MADISON PARISH SCHOOL BOARD (18,183,057) - 1,323,684-1,323,684 (358,984) - (358,984) 1,855,061 MOREHOUSE PARISH SCHOOL BOARD (41,836,724) - 3,045,616-3,045,616 (825,973) - (825,973) 4,268,240 NATCHITOCHES PARISH SCHOOL BOARD (81,591,542) - 5,939,674-5,939,674 (1,610,844) - (1,610,844) 8,324,082 ORLEANS PARISH SCHOOL BOARD (67,384,976) - 4,905,469-4,905,469 (1,330,367) - (1,330,367) 6,874,708 OUACHITA PARISH SCHOOL BOARD (254,558,343) - 18,531,255-18,531,255 (5,025,691) - (5,025,691) 25,970,394 PLAQUEMINES PARISH SCHOOL BOARD (83,894,691) - 6,107,338-6,107,338 (1,656,315) - (1,656,315) 8,559,052 Teachers Retirement System of Louisiana (TRSL) - 24

25 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability POINTE COUPEE PARISH SCHOOL BOARD $ (33,262,973) $ - $ 2,421,467 $ - $ 2,421,467 $ (656,704) $ - $ (656,704) $ 3,393,534 RAPIDES PARISH SCHOOL BOARD (289,921,297) - 21,105,596-21,105,596 (5,723,854) - (5,723,854) 29,578,171 RED RIVER PARISH SCHOOL BOARD (25,508,932) - 1,856,991-1,856,991 (503,617) - (503,617) 2,602,457 RICHLAND PARISH SCHOOL BOARD (39,846,366) - 2,900,723-2,900,723 (786,678) - (786,678) 4,065,181 SABINE PARISH SCHOOL BOARD (57,083,422) - 4,155,540-4,155,540 (1,126,986) - (1,126,986) 5,823,730 ST BERNARD PARISH SCHOOL BOARD (86,948,185) - 6,329,626-6,329,626 (1,716,599) - (1,716,599) 8,870,574 ST CHARLES PARISH PUBLIC SCHOOLS (183,931,729) - 13,389,802-13,389,802 (3,631,324) - (3,631,324) 18,764,969 ST. HELENA PARISH SCHOOL SYSTEM (13,641,196) - 993, ,047 (269,315) - (269,315) 1,391,694 ST JAMES PARISH SCHOOL BOARD (76,544,168) - 5,572,237-5,572,237 (1,511,195) - (1,511,195) 7,809,142 ST JOHN THE BAPTIST PARISH SCHOOL BOARD (84,103,727) - 6,122,556-6,122,556 (1,660,442) - (1,660,442) 8,580,378 ST. LANDRY PARISH SCHOOL BOARD (167,637,153) - 12,203,595-12,203,595 (3,309,624) - (3,309,624) 17,102,574 ST. MARTIN PARISH SCHOOL BOARD (95,450,928) - 6,948,605-6,948,605 (1,884,467) - (1,884,467) 9,738,035 ST. MARY PARISH SCHOOL BOARD (114,789,726) - 8,356,425-8,356,425 (2,266,269) - (2,266,269) 11,711,006 Teachers Retirement System of Louisiana (TRSL) - 25

26 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability ST. TAMMANY PARISH SCHOOL BOARD $ (539,839,892) $ - $ 39,299,088 $ - $ 39,299,088 $ (10,657,943) $ - $ (10,657,943) $ 55,075,211 TANGIPAHOA PARISH SCHOOL SYSTEM (228,724,648) - 16,650,622-16,650,622 (4,515,661) - (4,515,661) 23,334,804 TENSAS PARISH SCHOOL BOARD (8,494,175) - 618, ,356 (167,699) - (167,699) 866,587 TERREBONNE PARISH SCHOOL SYSTEM (207,551,359) - 15,109,256-15,109,256 (4,097,642) - (4,097,642) 21,174,676 UNION PARISH SCHOOL BOARD (24,644,621) - 1,794,071-1,794,071 (486,553) - (486,553) 2,514,278 VERMILION PARISH SCHOOL BOARD (115,651,221) - 8,419,140-8,419,140 (2,283,277) - (2,283,277) 11,798,897 VERNON PARISH SCHOOL BOARD (108,271,591) - 7,881,920-7,881,920 (2,137,583) - (2,137,583) 11,046,017 WASHINGTON PARISH SCHOOL SYSTEM (60,309,568) - 4,390,396-4,390,396 (1,190,679) - (1,190,679) 6,152,865 WEBSTER PARISH SCHOOL BOARD (74,037,030) - 5,389,723-5,389,723 (1,461,697) - (1,461,697) 7,553,360 WEST BATON ROUGE PARISH SCHOOL BOARD (69,501,272) - 5,059,531-5,059,531 (1,372,149) - (1,372,149) 7,090,616 WEST CARROLL PARISH SCHOOL BOARD (23,861,059) - 1,737,030-1,737,030 (471,084) - (471,084) 2,434,338 WEST FELICIANA PARISH SCHOOL BOARD (36,025,625) - 2,622,582-2,622,582 (711,246) - (711,246) 3,675,384 WINN PARISH SCHOOL BOARD (29,153,032) - 2,122,273-2,122,273 (575,562) - (575,562) 2,974,233 Teachers Retirement System of Louisiana (TRSL) - 26

27 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability BOGALUSA CITY SCHOOLS $ (26,465,262) $ - $ 1,926,609 $ - $ 1,926,609 $ (522,498) $ - $ (522,498) $ 2,700,023 MONROE CITY SCHOOLS (125,978,361) - 9,170,931-9,170,931 (2,487,164) - (2,487,164) 12,852,486 LOUISIANA TECH UNIVERSITY (104,439,582) - 7,602,958-7,602,958 (2,061,928) - (2,061,928) 10,655,070 NORTHWESTERN STATE UNIVERSITY (77,335,358) - 5,629,834-5,629,834 (1,526,815) - (1,526,815) 7,889,860 LOUISIANA STATE UNIVERSITY (822,394,587) - 59,868,429-59,868,429 (16,236,364) - (16,236,364) 83,901,833 UNIVERSITY OF NEW ORLEANS (110,414,413) - 8,037,912-8,037,912 (2,179,888) - (2,179,888) 11,264,631 LSU HEALTH SCIENCES CENTER, NEW ORLEANS (317,313,195) - 23,099,662-23,099,662 (6,264,646) - (6,264,646) 32,372,730 NICHOLLS STATE UNIVERSITY (58,074,024) - 4,227,654-4,227,654 (1,146,543) - (1,146,543) 5,924,792 SOUTHEASTERN LOUISIANA UNIVERSITY (115,240,779) - 8,389,260-8,389,260 (2,275,174) - (2,275,174) 11,757,023 UNIVERSITY OF LOUISIANA AT LAFAYETTE (208,981,393) - 15,213,359-15,213,359 (4,125,875) - (4,125,875) 21,320,570 GRAMBLING STATE UNIVERSITY (52,134,287) - 3,795,255-3,795,255 (1,029,276) - (1,029,276) 5,318,812 SOUTHERN UNIVERSITY AND A&M COLLEGE (110,320,986) - 8,031,111-8,031,111 (2,178,043) - (2,178,043) 11,255,099 SOUTHERN UNIVERSITY AT NEW ORLEANS (25,180,766) - 1,833,101-1,833,101 (497,138) - (497,138) 2,568,977 Teachers Retirement System of Louisiana (TRSL) - 27

28 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability TANGIPHAHOA FEDERATION OF TEACHERS $ (164,553) $ - $ 11,979 $ - $ 11,979 $ (3,249) $ - $ (3,249) $ 16,788 DELGADO COMMUNITY COLLEGE (95,643,767) - 6,962,644-6,962,644 (1,888,274) - (1,888,274) 9,757,709 SOWELA TECHNICAL COMMUNITY COLLEGE (18,839,977) - 1,371,506-1,371,506 (371,954) - (371,954) 1,922,080 LOUISIANA ASSOCIATION OF EDUCATORS (2,426,387) - 176, ,635 (47,904) - (47,904) 247,543 MCNEESE STATE UNIVERSITY (63,368,579) - 4,613,085-4,613,085 (1,251,072) - (1,251,072) 6,464,950 UNIVERSITY OF LOUISIANA AT MONROE (92,536,399) - 6,736,434-6,736,434 (1,826,926) - (1,826,926) 9,440,691 L. E. FLETCHER TECH COMMUNITY COLLEGE (10,714,578) - 779, ,996 (211,536) - (211,536) 1,093,116 LOUISIANA HIGH SCHOOL ATHLETIC ASSOC (841,542) - 61,262-61,262 (16,614) - (16,614) 85,855 ST. TAMMANY FEDERATION OF TEACHERS (364,316) - 26,521-26,521 (7,193) - (7,193) 37,168 LOUISIANA STATE UNIVERSITY-SHREVEPORT (17,337,525) - 1,262,131-1,262,131 (342,291) - (342,291) 1,768,798 SOUTH CENTRAL LOUISIANA TECH COLLEGE (12,309,869) - 896, ,130 (243,031) - (243,031) 1,255,870 SOUTHERN UNIVERSITY AT SHREVEPORT (21,087,492) - 1,535,120-1,535,120 (416,326) - (416,326) 2,151,375 UNITED TEACHERS OF NEW ORLEANS (395,302) - 28,777-28,777 (7,804) - (7,804) 40,329 Teachers Retirement System of Louisiana (TRSL) - 28

29 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability LSU HEALTH SCIENCES CENTER-SHREVEPORT $ (163,769,346) $ - $ 11,922,027 $ - $ 11,922,027 $ (3,233,263) $ - $ (3,233,263) $ 16,707,975 NUNEZ COMMUNITY COLLEGE (12,299,893) - 895, ,404 (242,834) - (242,834) 1,254,852 NORTHSHORE TECHNICAL COMMUNITY COLLEGE (15,620,404) - 1,137,129-1,137,129 (308,390) - (308,390) 1,593,615 NORTHWEST LOUISIANA TECHNICAL COLLEGE (11,513,515) - 838, ,157 (227,309) - (227,309) 1,174,625 LOUISIANA FEDERATION OF TEACHERS (312,673) - 22,762-22,762 (6,173) - (6,173) 31,899 SPECIAL EDUCATION DIST #1 OF LAFOURCHE (2,334,369) - 169, ,937 (46,087) - (46,087) 238,156 RAPIDES FED OF TCHRS/SCH EMPLOYEES (181,102) - 13,184-13,184 (3,575) - (3,575) 18,476 LOUISIANA STATE SENATE (499,761) - 36,381-36,381 (9,867) - (9,867) 50,986 LA HOUSE OF REPRESENTATIVES (298,824) - 21,754-21,754 (5,900) - (5,900) 30,486 CENTRAL LA TECHNICAL COMMUNITY COLLEGE (11,140,513) - 811, ,003 (219,945) - (219,945) 1,136,571 ASSOCIATED PROFESSIONAL EDUCATORS OF LA (358,565) - 26,103-26,103 (7,079) - (7,079) 36,581 WARE YOUTH CENTER (137,205) - 9,988-9,988 (2,709) - (2,709) 13,998 HUEY P LONG MEDICAL CENTER (10,915) (216) - (216) 1,114 Teachers Retirement System of Louisiana (TRSL) - 29

30 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability LA STATE EMPLOYEES RETIREMENT SYSTEM $ (858,913) $ - $ 62,527 $ - $ 62,527 $ (16,957) $ - $ (16,957) $ 87,627 LOUISIANA LEGISLATIVE AUDITOR (828,866) - 60,340-60,340 (16,364) - (16,364) 84,562 BOSSIER PARISH COMMUNITY COLLEGE (37,642,277) - 2,740,270-2,740,270 (743,163) - (743,163) 3,840,317 LSU HS-HCSD/LALLIE KEMP MEDICAL CENTER (6,965,432) - 507, ,067 (137,517) - (137,517) 710,623 SOUTH LOUISIANA COMMUNITY COLLEGE (31,087,053) - 2,263,065-2,263,065 (613,745) - (613,745) 3,171,544 ST BERNARD PORT, HARBOR & TERMINAL DIST. (716,191) - 52,137-52,137 (14,140) - (14,140) 73,067 WEBSTER PARISH SALES TAX COMMISSION (564,666) - 41,106-41,106 (11,148) - (11,148) 57,608 NEW VISION LEARNING ACADEMY (4,263,108) - 310, ,344 (84,166) - (84,166) 434,928 BATON ROUGE COMMUNITY COLLEGE (53,394,135) - 3,886,969-3,886,969 (1,054,149) - (1,054,149) 5,447,343 RIVER PARISHES COMMUNITY COLLEGE (8,539,597) - 621, ,663 (168,595) - (168,595) 871,221 LA COMMUNITY & TECHNICAL COLLEGE SYSTEM (23,019,987) - 1,675,801-1,675,801 (454,479) - (454,479) 2,348,531 VIRGIL BROWNE GLENCOE CHARTER SCHOOL (4,244,799) - 309, ,011 (83,804) - (83,804) 433,060 AVOYELLES PUBLIC CHARTER SCHOOL INC. (6,174,359) - 449, ,479 (121,899) - (121,899) 629,917 Teachers Retirement System of Louisiana (TRSL) - 30

31 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability LSU HEALTH CARE SERVICES DIVISION $ (17,329,778) $ - $ 1,261,568 $ - $ 1,261,568 $ (342,138) $ - $ (342,138) $ 1,768,008 DELHI CHARTER SCHOOL (10,424,440) - 758, ,875 (205,807) - (205,807) 1,063,516 LOUISIANA DELTA COMMUNITY COLLEGE (26,723,006) - 1,945,373-1,945,373 (527,587) - (527,587) 2,726,318 CITY OF BAKER SCHOOL SYSTEM (15,361,134) - 1,118,255-1,118,255 (303,272) - (303,272) 1,567,164 ZACHARY COMMUNITY SCHOOL BOARD (67,460,679) - 4,910,980-4,910,980 (1,331,862) - (1,331,862) 6,882,432 ALGIERS CHARTER SCHOOLS ASSOCIATION (49,078,445) - 3,572,797-3,572,797 (968,945) - (968,945) 5,007,051 ADVOCATES FOR ACADEMIC EXCELLENCE (11,517,153) - 838, ,422 (227,381) - (227,381) 1,174,996 FRENCH AND MONTESSORI EDUCATION, INC (10,705,188) - 779, ,313 (211,350) - (211,350) 1,092,158 ADVOCATES FOR SCIENCE & MATHEMATICS EDUC (6,705,223) - 488, ,125 (132,380) - (132,380) 684,076 ADVOCATES FOR ARTS-BASED EDUCATION CORP (23,433,364) - 1,705,894-1,705,894 (462,640) - (462,640) 2,390,704 LAKE FOREST ELEMENTARY CHARTER (6,504,403) - 473, ,505 (128,415) - (128,415) 663,588 HYNES CHARTER SCHOOL (9,690,291) - 705, ,431 (191,313) - (191,313) 988,617 WARREN EASTON SR. HIGH SCHOOL (11,423,140) - 831, ,578 (225,525) - (225,525) 1,165,404 Teachers Retirement System of Louisiana (TRSL) - 31

32 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability EINSTEIN CHARTER SCHOOL $ (21,036,788) $ - $ 1,531,429 $ - $ 1,531,429 $ (415,325) $ - $ (415,325) $ 2,146,202 ADVOCATES FOR INNOVATIVE SCHOOLS (3,160,301) - 230, ,063 (62,393) - (62,393) 322,418 CENTRAL COMMUNITY SCHOOL SYSTEM (57,222,036) - 4,165,631-4,165,631 (1,129,722) - (1,129,722) 5,837,871 THE MAXINE GIARDINA CHARTER SCHOOL, INC. (1,851,040) - 134, ,751 (36,545) - (36,545) 188,846 LOUISIANA STATE BOARD OF NURSING (401,405) - 29,221-29,221 (7,925) - (7,925) 40,952 GREATER LAFOURCHE PORT COMMISSION (148,003) - 10,774-10,774 (2,922) - (2,922) 15,100 NEW ORLEANS CHARTER SCHOOLS FOUNDATION (5,516) (109) - (109) 563 MADISON PREPARATORY ACADEMY (5,327,066) - 387, ,798 (105,171) - (105,171) 543,475 DARBONNE WOODS CHARTER SCHOOL (9,170,343) - 667, ,580 (181,048) - (181,048) 935,571 MORRIS JEFF COMMUNITY SCHOOL (9,513,649) - 692, ,572 (187,826) - (187,826) 970,596 BAYOU COMMUNITY ACADEMY (4,110,528) - 299, ,237 (81,153) - (81,153) 419,362 SLAUGHTER COMMUNITY CHARTER SCHOOL (3,095,748) - 225, ,363 (61,119) - (61,119) 315,832 NEW BEGINNINGS SCHOOLS FOUNDATION (25,113,513) - 1,828,205-1,828,205 (495,811) - (495,811) 2,562,115 Teachers Retirement System of Louisiana (TRSL) - 32

33 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability ST. BD. OF CERTIFIED PUBLIC ACCOUNTANTS $ (107,041) $ - $ 7,792 $ - $ 7,792 $ (2,113) $ - $ (2,113) $ 10,921 REED ELEMENTARY SCHOOL-RENEW SCHOOLS (11,284,526) - 821, ,487 (222,788) - (222,788) 1,151,263 ALMA J. BROWN/GRAMBLING LAB SCHOOL (388,377) - 28,273-28,273 (7,668) - (7,668) 39,623 A. E. PHILLIPS LABORATORY SCHOOL (1,001,752) - 72,925-72,925 (19,777) - (19,777) 102,200 LSU UNIVERSITY HIGH SCHOOL (17,791,746) - 1,295,198-1,295,198 (351,259) - (351,259) 1,815,139 NORTHWESTERN STATE UNIVERSITY LAB SCHOOL (216,665) - 15,773-15,773 (4,278) - (4,278) 22,104 SOUTHEASTERN LABORATORY SCHOOL (225,702) - 16,431-16,431 (4,456) - (4,456) 23,026 SOUTHERN UNIVERSITY LABORATORY SCHOOL (6,328,349) - 460, ,689 (124,939) - (124,939) 645,627 LCTCS ONLINE (885,086) - 64,432-64,432 (17,474) - (17,474) 90,298 BEEKMAN CHARTER SCHOOL (8,767,294) - 638, ,239 (173,091) - (173,091) 894,451 DELTA CHARTER GROUP (5,127,303) - 373, ,256 (101,227) - (101,227) 523,095 MADISON TALLULAH CHARTER SCHOOL (3,927,665) - 285, ,925 (77,543) - (77,543) 400,706 NORTHSHORE CHARTER SCHOOLS, INC (7,909,203) - 575, ,772 (156,150) - (156,150) 806,908 Teachers Retirement System of Louisiana (TRSL) - 33

34 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability INSPIRE NOLA CHARTER SCHOOLS, INC. $ (33,292,550) $ - $ 2,423,620 $ - $ 2,423,620 $ (657,288) $ - $ (657,288) $ 3,396,552 LOUISIANA PHYSICAL THERAPY BOARD (107,628) - 7,835-7,835 (2,125) - (2,125) 10,980 NORTHEAST CLAIBORNE CHARTER SCHOOL (882,739) - 64,261-64,261 (17,428) - (17,428) 90,058 ORLEANS LEVEE DISTRICT (193,191) - 14,064-14,064 (3,814) - (3,814) 19,710 LEGISLATIVE FISCAL OFFICE (301,523) - 21,950-21,950 (5,953) - (5,953) 30,762 DOWNSVILLE COMMUNITY CHARTER SCHOOL (4,654,889) - 338, ,865 (91,900) - (91,900) 474,898 DIV OF ADMIN - EXECUTIVE OFFICE (225,468) - 16,414-16,414 (4,451) - (4,451) 23,003 DIVISION OF ADMINISTRATION (2,055,499) - 149, ,636 (40,581) - (40,581) 209,705 OFC OF COASTAL PROTECTION & RESTORATION (551,521) - 40,149-40,149 (10,889) - (10,889) 56,267 GOVERNOR'S OFFICE OF HOMELAND SECURITY (219,951) - 16,012-16,012 (4,342) - (4,342) 22,440 STATE MILITARY DEPARTMENT (1,392,711) - 101, ,386 (27,496) - (27,496) 142,086 LOUISIANA PUBLIC DEFENDER BD (245,420) - 17,866-17,866 (4,845) - (4,845) 25,038 DEPARTMENT OF VETERANS AFFAIRS (293,894) - 21,395-21,395 (5,802) - (5,802) 29,983 Teachers Retirement System of Louisiana (TRSL) - 34

35 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability SECRETARY OF STATE $ (324,293) $ - $ 23,608 $ - $ 23,608 $ (6,402) $ - $ (6,402) $ 33,085 OFFICE OF LIEUTENANT GOVERNOR (186,266) - 13,560-13,560 (3,677) - (3,677) 19,003 LOUISIANA PUBLIC SERVICE COMMISSION (308,448) - 22,454-22,454 (6,090) - (6,090) 31,468 LA DEPT OF AGRICULTURE & FORESTRY (1,181,562) - 86,015-86,015 (23,327) - (23,327) 120,545 OFF OF THE STATE LIBRARY OF LA (214,787) - 15,636-15,636 (4,240) - (4,240) 21,913 OFFICE OF STATE MUSEUM (441,663) - 32,152-32,152 (8,720) - (8,720) 45,059 OFFICE OF CULTURAL DEVELOPMENT (371,241) - 27,025-27,025 (7,329) - (7,329) 37,875 OFFICE OF TOURISM (335,091) - 24,394-24,394 (6,616) - (6,616) 34,186 ENGINEERING AND OPERATIONS (1,375,692) - 100, ,147 (27,160) - (27,160) 140,350 FLORIDA PARISHES HUMAN SVCS AUTHORITY (192,487) - 14,013-14,013 (3,800) - (3,800) 19,638 CAPITAL AREA HUMAN SERVICE DISTRICT (233,918) - 17,029-17,029 (4,618) - (4,618) 23,865 MEDICAL VENDOR ADMINISTRATION (802,927) - 58,451-58,451 (15,852) - (15,852) 81,916 DEPARTMENT OF HEALTH AND HOSPITALS (1,939,772) - 141, ,211 (38,296) - (38,296) 197,898 SOUTH CENTRAL LA HUMAN SERVICES AUTH. (458,799) - 33,399-33,399 (9,058) - (9,058) 46,807 Teachers Retirement System of Louisiana (TRSL) - 35

36 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability OFFICE OF PUBLIC HEALTH $ (1,946,931) $ - $ 141,732 $ - $ 141,732 $ (38,438) $ - $ (38,438) $ 198,629 OFFICE OF BEHAVIORAL HEALTH (2,258,196) - 164, ,391 (44,583) - (44,583) 230,384 DEPT OF HEALTH & HOSPITALS/OCDD OFFICES (1,151,398) - 83,819-83,819 (22,732) - (22,732) 117,467 DEPARTMENT OF CHILDREN & FAMILY SERVICES (617,835) - 44,977-44,977 (12,198) - (12,198) 63,032 CENTRAL LOUISIANA HUMAN SERVICE DISTRICT (198,472) - 14,448-14,448 (3,918) - (3,918) 20,248 DEPT. OF PUBLIC SAFETY & CORRECTIONS - ADMIN (200,702) - 14,611-14,611 (3,962) - (3,962) 20,476 LA STATE PENITENTIARY (1,267,360) - 92,261-92,261 (25,021) - (25,021) 129,298 OFFICE OF JUVENILE JUSTICE (7,522,587) - 547, ,627 (148,517) - (148,517) 767,465 AVOYELLES CORRECTIONAL CENTER (550,113) - 40,047-40,047 (10,861) - (10,861) 56,123 LA CORRECTIONAL INST WOMEN (575,817) - 41,918-41,918 (11,368) - (11,368) 58,746 DIXON CORRECTIONAL INSTITUTE (1,463,602) - 106, ,547 (28,896) - (28,896) 149,319 ELAYN HUNT CORRECTIONAL CENTER (689,548) - 50,197-50,197 (13,614) - (13,614) 70,349 DAVID WADE CORRECTIONAL CENTER (706,801) - 51,453-51,453 (13,954) - (13,954) 72,109 Teachers Retirement System of Louisiana (TRSL) - 36

37 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability RAYBURN CORRECTIONAL CENTER $ (848,819) $ - $ 61,792 $ - $ 61,792 $ (16,758) $ - $ (16,758) $ 86,598 PUB SAFETY OFF OF MGT & FIN (160,679) - 11,697-11,697 (3,172) - (3,172) 16,393 OFFICE OF STATE POLICE (615,605) - 44,815-44,815 (12,154) - (12,154) 62,805 PUBLIC SAFETY OFFICE OF MOTOR VEHICLES (46,244) - 3,366-3,366 (913) - (913) 4,718 OFFICE OF CONSERVATION (254,810) - 18,550-18,550 (5,031) - (5,031) 25,996 OFFICE OF COASTAL MANAGEMENT (192,721) - 14,030-14,030 (3,805) - (3,805) 19,662 LOUISIANA DEPARTMENT OF REVENUE (366,311) - 26,667-26,667 (7,232) - (7,232) 37,372 LOUISIANA WORKFORCE COMMISSION (410,795) - 29,905-29,905 (8,110) - (8,110) 41,910 DEPT OF WILDLIFE & FISHERIES-MGMNT & FINANCE (57,042) - 4,153-4,153 (1,126) - (1,126) 5,819 WILDLIFE & FISHERIES OFF OF SEC (264,434) - 19,250-19,250 (5,221) - (5,221) 26,978 OFFICE OF WILDLIFE (304,927) - 22,198-22,198 (6,020) - (6,020) 31,109 DEPARTMENT OF STATE CIVIL SERVICE (153,989) - 11,210-11,210 (3,040) - (3,040) 15,710 DPT OF STATE CIVIL SVC - BRD OF TAX APPEALS (222,768) - 16,217-16,217 (4,398) - (4,398) 22,727 Teachers Retirement System of Louisiana (TRSL) - 37

38 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability BOARD OF SUPERVISORS-UNIV. OF LA SYSTEM $ (1,722,755) $ - $ 125,413 $ - $ 125,413 $ (34,012) $ - $ (34,012) $ 175,758 LA SCH FOR THE DEAF & VISUALLY IMPAIRED (17,674,728) - 1,286,679-1,286,679 (348,948) - (348,948) 1,803,200 LA SPECIAL EDUCATION CENTER (5,298,663) - 385, ,730 (104,610) - (104,610) 540,577 LA SCHOOL FOR MATH, SCIENCE AND THE ARTS (9,854,139) - 717, ,358 (194,548) - (194,548) 1,005,333 BOARD OF ELEMENTARY & SECONDARY EDUC/DOA (1,674,046) - 121, ,867 (33,050) - (33,050) 170,789 BOARD OF REGENTS (5,462,628) - 397, ,667 (107,847) - (107,847) 557,305 NEW ORLEANS CENTER FOR CREATIVE ARTS (9,064,475) - 659, ,873 (178,958) - (178,958) 924,770 LA UNIVERSITIES MARINE CONSORTIUM (3,288,352) - 239, ,384 (64,921) - (64,921) 335,482 LOUISIANA DEPARTMENT OF EDUCATION (19,422,366) - 1,413,903-1,413,903 (383,452) - (383,452) 1,981,497 RECOVERY SCHOOL DISTRICT OF LOUISIANA (3,065,584) - 223, ,167 (60,523) - (60,523) 312,755 SPECIAL SCHOOL DISTRICTS (12,699,068) - 924, ,463 (250,715) - (250,715) 1,295,576 STATE EMPLOYEES GROUP BENEFITS (166,548) - 12,124-12,124 (3,288) - (3,288) 16,991 PRISON ENTERPRISES (391,898) - 28,529-28,529 (7,737) - (7,737) 39,982 Teachers Retirement System of Louisiana (TRSL) - 38

39 Schedule of Pension Amounts by - As of and for the Year Ended June 30, 2016 Deferred Outflows of Resources Deferred Inflows of Resources Pension Expense Difference Between Expected and Actual Experience Net Difference Between Projected and Actual Investment Earnings on Pension Plan Investments Changes of Assumptions Total Deferred Outflows of Resources Difference Between Expected and Actual Experience Changes of Assumptions Total Deferred Inflows of Resources Proportionate Share of Plan Pension Expense Net Pension Liability DIV OF ADMIN - OFFICE OF TECHNOLOGY SVCS $ (1,199,872) $ - $ 87,348 $ - $ 87,348 $ (23,689) $ - $ (23,689) $ 122,413 OFFICE OF STATE PROCUREMENT (94,483) - 6,878-6,878 (1,865) - (1,865) 9,639 OFFICE OF STATE HUMAN CAPITAL MANAGEMENT (380,278) - 27,683-27,683 (7,508) - (7,508) 38,797 OFFICE OF ENVIRONMENTAL COMPLIANCE (229,810) - 16,730-16,730 (4,537) - (4,537) 23,446 OFFICE OF ENVIRONMENTAL SERVICES (142,722) - 10,390-10,390 (2,818) - (2,818) 14,561 TOTAL $(11,736,986,827) $ - $ 854,425,340 $ - $ 854,425,340 $ (231,720,807) $ - $ (231,720,807) $1,197,423,606 The accompanying notes are an integral part of these schedules. Teachers Retirement System of Louisiana (TRSL) - 39

40 NOTES TO SCHEDULES The Teachers Retirement System of Louisiana (TRSL or the System) is the administrator of a cost-sharing, multiple-employer defined benefit pension plan established and provided for within Title 11, Chapter 2, of the Louisiana Revised Statutes to provide benefits to members and their dependents at retirement or in the event of death, disability, or termination of employment. A. Summary of Significant Accounting Policies The System prepares its employer pension schedules in accordance with the Governmental Accounting Statement No. 68, Accounting and Financial Reporting for Pensions an amendment of GASB Statement No. 27. GASB Statement No. 68 established standards for measuring and recognizing liabilities, deferred outflows of resources, deferred inflows of resources, and expenses/expenditures. It provides methods and assumptions that should be used to project benefit payments; discount projected benefit payments to their actuarial present value; and attribute that present value to periods of employee service. It also provides methods to calculate participating employer s proportionate share of net pension liability, deferred inflows, deferred outflows, pension expense, and amortization periods for deferred inflows and deferred outflows. 1. Basis of Accounting The System s employer pension schedules were prepared using the accrual basis of accounting. Member and employer contributions are recognized when due, pursuant to formal commitments as well as statutory or contractual requirements. The member s earnable compensation is attributed to the employer(s) for which the member is employed as of June 30, System Employees The System is not allocated a proportionate share of the net pension liability related to its employees. The net pension liability attributed to the System s employees is allocated to the remaining employers based on their respective employer allocation percentage. 3. Plan Fiduciary Net Position Plan fiduciary net position is a significant component of the System s collective net pension liability. The System s plan fiduciary net position was determined using the accrual basis of accounting. The System s assets, liabilities, revenues, and expenses were recorded with the use of estimates and assumptions in conformity with accounting principles generally accepted in the United States of America. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements and estimates over the determination of the fair market value of the System s investments. Accordingly, actual results may differ from estimated amounts. Teachers Retirement System of Louisiana (TRSL) - 40

41 B. Plan Description TRSL was established for the purpose of providing retirement allowances and other benefits as stated under the provisions of La. R.S. 11: , as amended, for eligible teachers, employees, and their beneficiaries. The projection of benefit payments in the calculation of the total pension liability includes all benefits to be provided to current active and inactive employees through the System in accordance with the benefit terms and any additional legal agreements to provide benefits that are in force at the measurement date. The following is a description of the plan and its benefits, and is provided for general information purposes only. Participants should refer to the appropriate statutes for more complete information. Retirement Benefits Service retirement benefits are payable to members who have terminated covered employment and meet both age and service eligibility requirements. 1. NORMAL RETIREMENT Regular Plan - In the TRSL Regular Plan, eligibility for retirement is determined by the date the member joined TRSL. Members hired prior to July 1, % benefit factor 2.5% benefit factor At least age 60 with at least 5 years of service credit, or Any age with at least 20 years of service credit At least age 65 with at least 20 years of service credit, or At least age 55 with at least 25 years of service credit, or Any age with at least 30 years of service credit Members joining system between July 1, 1999 and December 31, % benefit factor At least age 60 with at least 5 years of service credit, or At least age 55 with at least 25 years of service credit, or Any age with at least 20 years of service credit (actuarially reduced), or Any age with at least 30 years of service credit Members first eligible to join and hired between January 1, 2011 and June 30, % benefit factor At least age 60 with at least 5 years of service credit, or Any age with at least 20 years of service credit (actuarially reduced) Members first eligible to join and hired on or after July 1, % benefit factor At least age 62 with at least 5 years of service credit, or Any age with at least 20 years of service credit (actuarially reduced) Teachers Retirement System of Louisiana (TRSL) - 41