District Attorneys' Retirement System Board of Trustees public meetings in 2023
7 substantive meetings from 2023, with official agendas or minutes and plain-English summaries.
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will review the annual valuation and discuss updates to the Investment Policy Statement. The meeting also includes reports on retirement activity, investment updates from Vann Equity Management, and a director's report.
- Action item regarding Annual Valuation by Greg Curran
- Action item for TCW Presentation/Commitment
- Action item for Investment Policy Statement revisions
- Review of retirement benefits for Scott Brame ($7,016.14), Ellen Doskey ($6,372.16), Kathy Meyers ($2,048.92), and Gregory Kennedy ($1,630.85)
- Update on Glenn E Diaz v State of Louisiana litigation
The Board of Trustees approved the 2022-2023 actuarial valuation report and authorized continued investments with TCW and Orleans Capital. The board also approved retirement activity and technical revisions to the investment policy statement.
- Approved October 26, 2023 meeting minutes
- Approved new retiree benefits
- Approved 2022-2023 actuarial valuation report for presentation to PRSAC
- Approved recommitment to invest with TCW
- Approved continuing business with Orleans Capital under Argent Financial Group
- Approved technical changes to the Investment Policy Statement
- Approved audit questionnaire for submission
District Attorneys' Retirement System Board of Trustees
The District Attorneys' Retirement System Board of Trustees will meet to review financial statements for August and September 2023. The Director's Report includes discussions on an investment RFP draft, member benefits, and rehire status.
- Review of August 2023 and September 2023 financial statements
- Discussion of Investment RFP Draft
- Report on survivor benefit for Patricia Means in the amount of $2,353.17
- Discussion regarding DARS member benefits and rehire status
The Board of Trustees approved a draft Request for Proposal (RFP) for a general investment consultant and authorized its posting to two locations. The board also approved contracting with Pulse 419 for death auditing and Point2point for a website migration to WordPress. Additionally, the board voted to send letters to all DA offices to identify rehired retirees and their conditions.
- Approved minutes from September 10, 2023
- Approved financial statements for August and September 2023
- Approved General Investment Consultant RFP draft
- Approved posting RFP to Pensions and Investments and NCPERS website
- Approved sending letters to all DA offices to determine rehire status and conditions
- Approved contract with Pulse 419 for death audit services
- Approved engaging Point2point for new website, pending board review before launch
District Attorneys' Retirement System Board of Trustees
The Board of Trustees is meeting to review the annual FY 2023 budget and financial statements from June and July 2023. The body will also consider specific retirement benefits and receive investment presentations.
- Annual FY 2023 Budget Review
- Retirement benefits for Cecil Campbell II ($1,331.09), Anne Wallis ($4,686.04), Joseph Floyd Johnson ($3,244.49), Sharon Hill ($3,483.65), and Ronald Hagan ($4,359.02)
- Backdrop payment for Anne Wallis in the amount of $168,697.44
- Investment RFP Draft
- Update on Glenn E Diaz v State of Louisiana (Case No. C-650070)
The Board of Trustees approved the financial reports for June and July 2023 and authorized retirements. Members also voted to draft a resolution commending retired staff member Sharon Hill for her service.
- Approved June 26, 2023 meeting minutes with corrections (carried)
- Approved June and July 2023 financial statements (carried)
- Approved retirements (carried)
- Approved drafting a resolution commending Sharon Hill (unanimous)
- Approved benefit calculation for Mr. Pitman based on actuary amount if he retires (5-1-1)
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will review financial statements for April and May 2023 and process several retirements. The meeting includes action items regarding the Ellison Travis settlement and updates to the Investment Policy Statement.
- Approval of retirement benefits ranging from $1,725.99 to $9,706.64
- Review of April and May 2023 financial statements
- Discussion of Board Member Investment Conflict Policy Draft
- Action item regarding Ellison Travis Settlement
- Investment update and education
The Board hired Laura Gail Sullivan as general legal counsel and voted to issue a Request for Proposals (RFP) for an investment consultant. The Board also approved seven retirements and a settlement agreement for Ellison Travis.
- Approved April 20, 2023 minutes
- Approved April 2023 and May 2023 financial statements
- Approved retirements for Thomas J. Barbera, Roxanne Juneau, Lawrence Babineaux, O'Neil Parenton, F. Steve Landreneau, Barron Burmaster, and Monique Metoyer
- Hired Laura Gail Sullivan as general legal counsel at $250/hour
- Accepted $14,318.31 settlement agreement for Ellison Travis
- Approved actuarial benefit calculation of $4,086.31 for Susan Mosley
- Approved issuing an RFP for investment consultant (opposed by Reed Walters and Houston Gascon)
- Scheduled next meeting for September 10, 2023, in New Orleans
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will vote on the Fiscal Year 2024 employer contribution rate and consider revisions to the Investment Policy Statement and Personnel Manual. Two retirements and two retiree deaths are reported for approval. The meeting also includes discussion of pending litigation and a possible executive session.
- Fiscal Year 2024 Employer Rate – action item
- Retirement of Vickie Baker, benefit $9,319.95/month, effective 3/1/23
- Retirement of Scott Stassi, benefit $10,662.92/month, effective 4/16/23
- Investment Policy Statement revisions including Board Member Investment Conflict Policy
- Fiscal Year 2024 Operating Budget Amendment – action item
The Board of Trustees approved the FY24 budget, the actuarial services contract, and a new personnel manual. They increased the employer rate to 12% effective July 1, 2023, and accepted two retirements.
- Set employer rate at 12% beginning July 1, 2023
- Approved FY24 budget as presented
- Approved FY24 actuarial services contract at $92,160
- Approved updated DARS personnel manual
- Approved certification of authorization for Philip Quails to transfer funds
- Approved retirements for Vickie Baker and Scott Stassi
- Approved retaining Bob Tarcza as counsel in the Diaz case
- Approved meeting on June 26, 2023, in Destin, FL
District Attorneys' Retirement System Board of Trustees
The Louisiana District Attorneys' Retirement System Board of Trustees is meeting to discuss the search for a new director, including current applicants and potential additional candidates. The board may also go into executive session for certain discussions. Other items include the director's report on administrative matters, personnel manual updates, and upcoming budget amendments.
- New director search: review of current applicants and possible additional candidate search
- Possible executive session under LSA-R.S. 42:17A(1)(2) or (10)
- Director's report: processing of transfer/reciprocal agreements, Chase online administrative permissions, interim director duties
- Personnel manual updates and upcoming budget amendments
- Trustee education status as of 3/1/23
The Board appointed Philip Quails as Director with an annual salary of $150,000. The Board also established interim financial controls and limited the purchase of structured notes. A draft of the updated personnel manual was deferred to the April meeting.
- Hired Philip Quails as DARS Director at an annual salary of $150K
- Limited purchase of additional structured notes without Board approval (Reed Walters abstained)
- Approved Sharon Hill and Gwen Hicks to verify check logs prior to system input
- Approved weekly handling of retirement, transfer, and rollover requests by Chairman, Co-Chairman, or designee
- Deferred updated DARS personnel manual until April meeting
- Approved hosting a limited mobile office at the LDAA Annual Conference
- Approved issuance of a certificate of appreciation for Kristi Spinosa
District Attorneys' Retirement System Board of Trustees
The Board of Trustees will vote on four retirements, acknowledge one retiree death, and certify election results for a new trustee. They will also review financial statements, discuss investment policy revisions, and receive a director's report on legal and budget matters.
- Retirements: S. Andrew Shealy ($6,914.61/mo), Stephen P. Sheets ($7,500.01/mo), Bruce G. Dearing ($9,257.95/mo), Juan W. Pickett ($4,745.49/mo)
- Election results: David W. Burton as new trustee
- Investment Policy Statement revisions including conflict policy draft and technical updates
- Director's report on BREC v. Gautreaux ad valorem tax case and benefit/enrollment errors
- Fiscal Year 2024 Operating Budget discussion
The Board approved the budget including staff raises and settled a benefit overpayment case. It also accepted four retirements and set liquidation terms for Rastegar investments.
- Approved December 8, 2022, minutes
- Approved December 2022 and January 2023 financial statements
- Approved retirements for S. Andrew Shealy, Stephen P. Sheets, Bruce G. Dearing, and Juan W. Pickett
- Required Rastegar to true up by June 30, 2023, with 18 months to liquidate
- Approved $20,484 settlement with Ellison Travis for benefit overpayment
- Waived back contributions for Kylie Miller LeBlanc provided she waives service credit
- Approved budget including 5% raises for Sharon Hill and Gwen Hicks and $170K salary for Director Kristi Spinosa
- Tabled Investment Policy Statement Revisions and decision on selling LA Funds and Themelios