When a system disconnects from an L2TP VPN Pool, the IP will be aged out based upon 6 * the l2tp hello timer. The hello timer is 60 seconds by default; so 6 minutes should be the ageout.
To determine this in your environment:
show vpdn l2tp configuration
>Enabled
>Hello timeout: 60 seconds
To change your timer:
config terminal
vpdn group l2tp
l2tp tunnel hello <timer>