Firefighters' Retirement System Board of Trustees public meetings in 2023
12 substantive meetings from 2023, with official agendas or minutes and plain-English summaries.
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will meet to discuss budget amendments, the 2022-23 annual financial statement, and the new Executive Director's contract. The meeting also includes reviews of retirement applicants and updates on various investment portfolios.
- Amendments to the 2023-2024 FRS operating budget
- Contract, salary, and selection procedures for the new Executive Director
- Review of 2022-23 Annual Financial Statement and CEO compensation
- Investment Committee reports on HarbourVest, Orleans Capital Management, and Murphree Venture Partners
- Discussion regarding Act 393 of the 2023 regular legislative session
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will interview three finalists for a Global Multi-Sector Fixed Income fund manager and consider selecting a firm. The board will also review the annual actuarial valuation as of June 30, 2023, which sets contribution rates, and adopt new members, retirees, and disability applicants. Other business includes monthly investment performance, financial statements, budget comparisons, and a policy change on direct deposit for benefit payments.
- Interview and selection of Global Multi-Sector Fixed Income RFP finalists: Brandywine Global, Fort Washington, Loomis Sayles
- Adoption of new members, retirees, survivors, and disability applicants
- Actuarial valuation as of June 30, 2023, and annual valuation rate
- Preliminary financial statements for first quarter of FY 2023-24
- Policy No. 07122007 – Direct Deposit Requirement for Benefit Payments
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will consider approving minutes and reviewing new members, retirees, and disability applicants. A joint advisory committee meeting will discuss a letter of intent for FRS-LB#1 and a purchase agreement for FRS-GA. New business includes interviewing custodian bank RFP finalists, discussing cybersecurity and D&O insurance, reviewing September investment performance, and personnel committee items such as a salary study, step-up pay for the interim executive director, and the search for a new executive director. The board may enter executive session for several items.
- Discussion and action on custodian bank Request for Proposal finalists
- Discussion on cybersecurity and Directors & Officers insurance coverage
- Personnel committee: career retention and salary study, step-up pay for interim executive director, search for new executive director
- Joint advisory committee meeting on FRS-LB#1 letter of intent and FRS-GA purchase agreement
- Review of monthly investment performance results for September 2023
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss membership applications and personnel retention. The board is also reviewing investment performance and seeking new providers for custodial banking and audit services.
- Request for Proposal (RFP) for custodial banking services
- Invitation to Bid (ITB) for audit services
- Employee retention study report from the Personnel Committee
- July 2023 monthly investment performance results
- Purchase agreement status for FRS-LB#1 and FRS-GA
Firefighters' Retirement System Board of Trustees
The Board of Trustees will review and approve minutes from the July 13 meeting, consider disability and retirement applicants, and discuss extending purchase agreements for two limited liability corporations (FRS-LB#1 and FRS-GA). The board reserves the right to enter executive session for discussion of health-related disability matters.
- Review and approval of July 13, 2023 meeting minutes
- Adoption of new members, disability applicants, retirees, survivor applicants, and disability recertifications
- Discussion and advisory action on extension of purchase agreement for FRS-LB#1
- Discussion and advisory action on extension of purchase agreement for FRS-GA
- Possible executive session under R.S. 42:17(A)(1) for disability health information
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will decide on a custodial bank RFP finalist and review June 2023 investment performance. The board will also discuss portfolio rebalancing and updates to travel and procurement policies.
- Selection of Custodial Bank RFP Finalist
- Review of June 2023 monthly investment performance results
- Discussion of FRS Portfolio Rebalancing
- Action on Comprehensive Travel Procedures and Procurement Policy
- Modification and extension of purchase agreements for FRS-LB#1 and FRS-GA
Firefighters' Retirement System Board of Trustees
The board will discuss and take action on several financial and operational items, including the FY 2023-24 budgets for FRS Limited Liability Corporations and the FRS operating budget. They will also review monthly investment performance, asset allocation, and a custodial bank RFP. Additionally, they will consider disability applicants, software conversion, and potential legislation for the 2023 session.
- Review and adoption of disability applicants and recertifications
- Discussion and advisory action on FY 2023-24 budget for FRS-LB, FRS-LB#1, FRS-LB#3, and FRS-GA
- Request for modification of purchase agreement relative to FRS-LB#1
- Investment Committee report: monthly performance, Investment Policy Statement, Asset Allocation Update, Custodial Bank RFP Update
- Discussion and action on FRS operating software conversion and FY 23-24 operating budget
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss monthly investment results, a salary and career retention study, and various benefit applications. The meeting also includes reviews of financial statements for the quarter ending March 31, 2023.
- Review of April 2023 monthly investment performance results
- Discussion of FRS career retention and salary study
- Request for Proposal (RFP) for a Multi-Sector Fixed Income manager search
- Contract discussion for G.S. Curran & Co., Ltd. actuarial services for FY 2023-2024
- Invitation to Bid (ITB) for annual audit services
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will meet to review disability, retiree, and survivor applications. The agenda includes discussions on litigation involving the City of Kenner, updates on FRS Limited Liability Corporations, and reviews of monthly investment performance.
- Review and adoption of disability, retiree, and survivor applicants
- Discussion regarding Kenner Firefighters, et al. v. City of Kenner and FRS lawsuit
- Action on characterization of state supplemental pay funds relative to earnable compensation
- Review of March 2023 monthly investment performance results
- Discussion of FRS career retention and salary study
Firefighters' Retirement System Board of Trustees
The FRS Board of Trustees will discuss and act on the employer contribution rate for the upcoming fiscal year. They will also hear a presentation on privatization effects, review investment performance and asset allocation, and consider legislation for the 2023 session. A lawsuit involving Kenner Firefighters and the City of Kenner is on the agenda for discussion and action.
- Discussion and action on employer contribution rate for upcoming fiscal year
- Kenner Firefighters lawsuit (Suit No. 687-197) discussion and action
- Presentation by Attorney Robert Klausner on privatization of FRS membership
- Investment Committee report: February 2023 performance, annual asset allocation update, custodial banking RFP, Louisiana Fund term extension, Multi-Sector Fixed Income presentation
- Discussion and action on DROP interest policy and 2023 legislative proposals
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will discuss and act on investment performance for January 2023, a 2023 asset allocation update, and a proposed schedule for a custodial banking RFP. They will also review a legislative auditor's actuarial review, second-quarter financial statements, a budget comparison, and proposed legislation for the 2023 session. Additionally, the board will consider disability applicants, retirees, and survivors, and discuss litigation in FRS v. Holloway.
- Discussion and action on FRS monthly investment performance results for January 2023
- Presentation by Legislative Auditor's Office on Actuarial Review of the 2022 Actuarial Valuation
- Discussion and action on Preliminary Statement of Changes in Fiduciary Net Position for Q2 FY2022-23
- Discussion and action on legislation to be introduced in the 2023 regular legislative session
- Review and adoption of disability applicants, new retirees, and survivor applicants
Firefighters' Retirement System Board of Trustees
The Firefighters' Retirement System Board of Trustees will meet to discuss December 2022 investment results, approve audit service expenses, and review the 2021 Employer Pension Report. The board will also consider amending bylaws regarding authorized signatories for office checks.
- Review of December 2022 monthly investment performance results
- Discussion of fee structure for investment manager CCMP Capital
- Approval of audit service expenses for the 2023 audit cycle
- Proposed amendment to ByLaw Article VI, Section 1 regarding check signatories
- Review of 2021 Employer Pension Report from the Louisiana Legislative Auditor