Assessors' Retirement System Board of Trustees public meetings in 2022
4 substantive meetings from 2022, with official agendas or minutes and plain-English summaries.
Assessors' Retirement System Board of Trustees
The Board of Trustees will review third-quarter 2022 investment market trends and retirement fund performance. The meeting includes a review of actuarial assumption factors and the election of four district representatives for two-year terms.
- Review of Investment Markets for 3rd Quarter 2022
- Review and approval of Actuarial Assumption Option Factors, effective 10/1/2022
- Election of District 2, 4, 6, and 8 representatives for 1/1/2023-12/31/2024 terms
- Presentation of Empower Plan Review
The Board approved redeeming $5 million each from American Realty and Principal to re-allocate funds to Driehaus and Loomis Sayles. Members also approved the August 2022 financial report and new Actuarial Equivalence Assumptions effective October 1, 2022.
- Approved July 26, 2022 meeting minutes
- Approved August 2022 Financial Report
- Approved 3rd Quarter 2022 Retirement System report on refunds, transfers, reciprocals, retirements and deaths
- Approved redeeming $5M from American Realty and $5M from Principal to re-allocate 50% to Driehaus and 50% to Loomis Sayles
- Approved Actuarial Assumption Option Factors effective October 1, 2022
- Approved 2023 quarterly meeting schedule
- Approved District Representatives for even Districts for the term January 1, 2023 - December 31, 2024
Assessors' Retirement System Board of Trustees
The Retirement Board of Trustees of the Louisiana Assessors' Association will discuss and adopt the employer contribution rate for the pension fund, effective October 1, 2022, pending approval of the valuation report. The board will also review financial reports, investment performance, and approve the retirement fund budget for fiscal year 2022-2023.
- Adoption of Employer Contribution Rate effective October 1, 2022
- Presentation by AndCo Investment Consultant on performance review and addition of total stock market index fund
- Approval of actuarial services contract for Curran Actuarial Consulting for October 2022-September 2023
- Review and approval of auditor engagement letters for Assessors' Retirement Fund financials and employer's pension report
- Approval of Retirement Fund Budget for fiscal year October 1, 2022 through September 30, 2023
The Board approved a new employer contribution rate and a revised budget for the upcoming fiscal year. Members also authorized a $48 million portfolio rebalancing to add a Stock Market Index Fund and approved several professional service contracts.
- Approved April 26, 2022 meeting minutes
- Approved May 31, 2022 Financial Report
- Approved 2nd Quarter 2022 Retirement System Refunds, Transfers, Reciprocals, Retirements and Deaths report
- Authorized $48,000,000 portfolio rebalancing to add a Stock Market Index Fund (unanimous)
- Adopted 3.5% employer contribution rate effective October 1, 2022 (passed with one opposition)
- Approved Curran Actuarial Consulting, LTD contract for Oct 1, 2022 – Sept 30, 2023
- Approved three audit engagement letters from Hawthorn, Waymouth & Carroll (unanimous)
- Approved revised Retirement Fund Budget for Oct 1, 2022 – Sept 30, 2023
Assessors' Retirement System Board of Trustees
The Board of Trustees will review financial reports, investment performance, and the retirement fund budget for fiscal year 2022-2023. The meeting includes discussions on adopting a new employer contribution rate and approving actuarial service contracts.
- Adoption of Employer Contribution Rate effective October 1, 2022
- Approval of October 2022 - September 2023 contract for Curran Actuarial Consulting, LTD
- Review of Retirement Fund Budget for fiscal year ending September 30, 2023
- Review of Hawthorn, Waymouth & Carroll audit engagement letters
- Investment performance review by Jon Breth of AndCo Investment Consultant
The Board approved a rebalancing of funds and a new Investment Policy Statement with updated return rates. Members also approved the February 2022 financial report and the 2021 financial and employer pension audits. The Board voted to oppose HB 25 and support HCR 11 via the Legislative Committee.
- Approved February 28, 2022 Financial Report
- Approved funding for AHRMS software upgrade with Retirement Fund paying one half of costs
- Approved 1st Quarter 2022 Retirement System reports
- Approved LARF Financial Audit and Employer Pension Audit for fiscal year ending September 30, 2021
- Approved moving 3% ($15 million) from Foreign Equities to Alternatives
- Approved revised Investment Policy Statement with 5.50% actuarially required rate of return
- Approved GASB/Employer Pension Report
- Voted to oppose HB 25 and support HCR 11 via the Legislative Committee
Assessors' Retirement System Board of Trustees
The Board of Trustees will review quarterly investment performance and fiscal year-end reporting. Members will decide whether the system will participate in proposed 2022 legislation regarding reverse transfers. The board will also review a resolution concerning Orleans Ad Valorem funds.
- Decision on participation in proposed 2022 Legislation on Reverse Transfers
- Resolution for Demand to State Treasurer’s Office for Orleans Ad Valorem funds
- Quarterly Performance Review by AndCo Investment Consultant
- September 30, 2021 Fiscal Year End Funding and GASB reports
- Review of Primer on Hedge Fund Investing
The Board approved the November 2021 financial report and the September 30, 2021 valuation report, which reduced the assumed rate of return to 5.50%. Members also authorized a resolution to demand Orleans Ad Valorem funds from the State Treasurer if not received by March 2022.
- Approved minutes from October 26, 2021 meeting
- Approved November 2021 Financial Report
- Approved 4th Quarter 2021 Retirement System Refunds, Transfers, Reciprocals, Retirements and Deaths report
- Approved September 30, 2021 LARF Valuation Report
- Authorized execution of Resolution for Demand to LA State Treasurer’s Office for Orleans Ad Valorem funds if not received by March 2022
- Authorized Executive Director to work with Hawthorn, Waymouth and Carroll on LARF Agreed Upon procedure audit costs