District Attorneys' Retirement System Board of Trustees public meetings in 2022
6 substantive meetings from 2022, with official agendas or minutes and plain-English summaries.
District Attorneys' Retirement System Board of Trustees
The Board of Trustees is meeting to review financial statements, approve retirements, and conduct elections for board officers and a vacant Retired DA seat. The body will also discuss investment updates, the FY2022 audit, and the draft FY2024 operating budget.
- Special Election for Open Retired DA Seat
- Retirement approvals for R.J. Meyer ($3,451.59), D.M. Wattigny ($2,433.46), R.C. Vines ($10,997.95), and H.S. Winters ($2,303.00)
- Fiscal Year 2022 Audit
- Investment Policy Statement Revisions and Board Member Investment Conflict Policy Draft
- Fiscal Year 2024 Draft Operating Budget
The Board elected Andy Shealy as Chairman and Scott Perrilloux as Vice Chairman. Trustees approved the June 30, 2022, financial and compliance audits and the actuarial valuation report. The Board also called for a special election to fill an open Retired District Attorney seat.
- Elected Andy Shealy as Chairman (carried)
- Elected Scott Perrilloux as Vice Chairman (carried)
- Approved September, October, and November 2022 financial statements (carried)
- Approved June 30, 2022, financial statement and compliance audit (carried)
- Approved actuarial valuation report as of June 30, 2022 (carried)
- Approved $3M fiduciary insurance coverage limit (carried)
- Approved special election timeline for Retired District Attorney seat (carried)
- Granted two-year extension for Encore real estate asset sales (carried)
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will consider membership interest redemption agreements and fund classifications regarding Rastegar Multi Yield, LLC and Rastegar Holding Company, LLC. The meeting also includes discussions on potential trustee conflicts of interest and trustee compensation under R.S. 11:1654.
- Rastegar Multi Yield, LLC and Rastegar Holding Company, LLC payments and redemptions
- Ethics Board Docket No. 2019-838 regarding potential trustee conflicts
- Rastegar Property Company, LLC relationship to DARS investments
- Trustee and employee compensation under R.S. 11:1654
The Board declared a $1M redemption agreement with Rastegar null and void because it lacked Board approval. Trustees voted to reclassify the $1M as a credit against accrued interest and move to prohibit Trustees from investing directly with DARS business partners.
- Declared June 29, 2022 Rastegar agreement null and void (Motion carried)
- Approved reclassifying $1M payment as credit against accrued interest instead of redemption (Motion carried)
- Approved drafting a resolution to prohibit Trustees from investing with DARS business partners (Motion carried)
- Appointed Andy Shealy as vice-chairman (Motion carried)
- Approved site visit to VEM by Kristi Spinosa and available Trustees (Motion carried)
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will review financial statements and confirm recent election results. The meeting includes reports on investment performance, retirement benefits, and updates from the Director.
- Confirmation of Brad Burget (Division B Seat) and Hammy Gascon (ADA Retired Seat) election results
- Review of nine retirements with monthly benefit amounts ranging from $712.07 to $10,329.74
- Review of two retiree death survivor benefits totaling $5,345.79
- Fiscal Year End Portfolio Performance and Investment Education report
- Director's updates on COLA, tax forms (W-4P and W-4R), and email addresses
The Board of Trustees approved the June 26, 2022, minutes and financial statements for June, July, and August 2022. The board unanimously accepted nine member retirements and agreed to cancel DARS email addresses for Trustees to reduce costs. Trustees also agreed to visit VEM headquarters in Dallas in early 2023.
- Approved June 26, 2022, minutes
- Approved financial statements for June, July, and August 2022
- Unanimously approved retirements for Roger W. Jordan, Jr., Sharon L. Andrews, Allen J. Myles, Sr., Michele Billeaud, Roberta Kitchens, Josephine Heller, Robert L. Freeman, Jr., Louis Delahaye, and Darren M. Roy
- Agreed to visit VEM headquarters in Dallas in February or March 2023
- Agreed to cancel DARS email addresses for Trustees
District Attorneys' Retirement System Board of Trustees
The Louisiana District Attorneys' Retirement System Board of Trustees will review and approve nine retirements with monthly benefits ranging from $1,888.52 to $8,609.35, and four retiree deaths with two survivor benefits. The board will also discuss mid-quarter investment performance, 2022 board elections, legislative updates, and policy changes to the travel policy and personnel manual.
- Retirement of Richard Feinberg, benefit $2,170.89/month
- Retirement of Stephen Sylvester, benefit $8,609.35/month
- Death of Wiley Ray Dial, survivor benefit $3,639.37/month
- Death of Paul Moresi Jr., survivor benefit $3,519.78/month
- Discussion of DARS policy updates: LLA Agreed-Upon Procedures, Travel Policy, Personnel Manual
The Board of Trustees approved nine retirements and updated the Personnel Policy Manual, Travel and Expense Reimbursement Policy, and Internal Control Policies and Procedures. The Board also agreed to adjust investment levels for Dorsey and TWC Direct Lending and formed a committee to explore purchasing the Quail Drive building.
- Approved March 17, 2022, meeting minutes
- Approved financial statements for March, April, and May 2022
- Unanimously approved nine retirements
- Agreed to move Dorsey back to $100M and re-up with TWC Direct Lending
- Approved formation of a committee to discuss purchasing Quail Drive building from LDAA
- Approved retirement for Roger Jordan at no reduction
- Approved updated Internal Control Policies and Procedures
- Approved updated Travel and Expense Reimbursement Policy and Personnel Policy Manual
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will set the FY23 employer contribution rate and review 2022 legislation (HB 25, HB 213). They will also consider actuarial assumptions, approve a retirement benefit, and hear an investment update. The agenda includes standard items like roll call, conflicts disclosure, and prior meeting minutes.
- Setting of FY23 employer contribution rate
- Review of 2022 legislation: HB 25 and HB 213
- Approval of retirement for Larry S. Bossier, benefit $2,928.52/month (Option 2, effective 1/25/22)
- Quarterly portfolio performance and investment education by Aaron Vann and Steve Rueb (Dorsey & Company)
- FY23 actuarial equivalence assumptions and option factor approval
The Board of Trustees approved the FY2023 employer rate and updated actuarial equivalence and option factors. The board also approved January and February 2022 financial statements and one retirement. Portfolio reports indicated total assets of $485,880,240 as of March 15, 2022.
- Set FY2023 Employer Rate at 9.50% effective July 1, 2022
- Approved actuarial equivalence and option factors beginning July 1, 2022
- Approved January 27, 2022, meeting minutes
- Approved financial statements for January and February 2022
- Approved retirement of Larry S. Bossier effective 1/25/2022
- Approved Board of Trustees meeting for June 26, 2022, in Destin, FL
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will review financial statements and the FY21 audit report. Members will discuss the FY23 contract for actuarial services and the FY23 budget. The meeting includes updates on investment performance and pending legislation.
- FY21 Audit Report
- FY23 Contract for Actuarial Services
- FY23 Budget
- Quarterly Portfolio Performance/Investment Education
- Legislation HLS 22RS-238 & HLS 22RS-239
The Board approved the FY2023 budget, including specific salary adjustments, and authorized a contract for actuarial services. Trustees also accepted three retirements and adopted the FY2021 audit report.
- Approved FY23 actuarial services contract totaling $92,160
- Approved FY2023 budget including 18% salary adjustment for Pension Assistant and 3.5% increase for Gwen Hicks
- Approved cost-of-living increase for Director/General Counsel to $150,000 annually
- Accepted and adopted FY2021 DARS audit report
- Approved November 18, 2021, meeting minutes
- Approved financial statements for November and December 2021
- Approved retirements for Darwin C. Miller, Camille Buras-Tifft, and Charles Gravel/Elycia Abrusley