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BATON ROUGE, La. (AP) — Newly released statistics find the spike in public school retirements eased somewhat, but the numbers are still higher than prior to passage of Gov. Bobby Jindal's education revamp.
The number of kindergarten through 12th-grade employees in the Teachers' Retirement System of Louisiana who retired in the fiscal year ending June 30 stood at 2,979. Seventy percent of those who retired had 20 years or more of service credit.
In the two prior fiscal years, there were 3,295 and 3,415 retirements, respectively. The 3,415 retirements came in the fiscal year ending June 30, 2013.
The number is still higher than the some 2,500 retirements that had been the norm in the two years before.
The retirement trend's impact on the finances of the teachers pension system is undergoing analysis. TRSL communications director Lisa Honore said the system's actuary is to issue a report in October.
State Superintendent of Education John White tells The Advocate (http://bit.ly/YOjhbS) economics is the driving factor as teachers, administrators and others make personal decisions on what's best for the future for themselves and their families.
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Information from: The Advocate, http://theadvocate.com
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