Louisiana State Police Retirement System Board of Trustees public meetings in 2021
7 substantive meetings from 2021, with official agendas or minutes and plain-English summaries.
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will review investment reports, financial statements, and a benefits change report. The board will also discuss a budget adjustment for software upgrades and a legislative update regarding potential 2022 PBI.
- Approval of October 31, 2021 Financial Report
- Budget adjustment for PMS/AHRMS software upgrades
- Review of October 31, 2021 Flash Report and Asset Allocation Chart
- Approval of Benefits Change Report
- Discussion of Monthly Deposit Statement Procedure and Cost Analysis
The Board approved a budget increase for software upgrades and voted to stop mailing monthly deposit receipts to retirees after Q1 2022. Members also accepted financial reports showing a total fund value of $1,166,615,576 as of October 31, 2021.
- Approved October 28, 2021 Board Minutes
- Approved November 19, 2021 Executive Committee Minutes
- Approved November 19, 2021 Investment Committee Minutes
- Accepted financial reports for period ending October 31, 2021
- Approved budget adjustment increasing Major Acquisitions from $45,000 to $65,000 for software upgrades
- Approved discontinuation of monthly deposit receipt mailings after first quarter of 2022
- Approved Benefits Change Report in globo
Louisiana State Police Retirement System Board of Trustees
The Board received reports on ongoing projects including cyber security, the Pension Management System, and a new retirement calculator. Trustees were updated on the Member Handbook and required educational training. No substantive policy or financial decisions were recorded.
- Adjourned the meeting
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will meet to approve minutes from prior meetings, review investment and financial reports, and consider a presentation on the valuation assumption rate as an action item. The board will also vote on a benefits change report and hold executive sessions to discuss beneficiary medical records and pending litigation (Sebastian Suit). Additionally, the 2022 meeting schedule is up for approval.
- Approval of minutes from June 23, July 14, and July 28 meetings
- July 31, 2021 Flash Report and Asset Allocation Chart
- July 31, 2021 Financial Report/FYE Comparison/Check Registers
- Presentation on Valuation Assumption Rate (action item)
- Approval of Benefits Change Report
The Board approved the 2022 meeting schedule and adopted a new Cybersecurity Plan and Financial Security Procedures for Cash Management. Trustees authorized the Actuary to produce the June 30, 2021, Actuarial Valuation with a potential interest rate reduction of up to 15 basis points. The Board also accepted the financial report for the period ending June 30, 2021.
- Adopted Cybersecurity Plan and Financial Security Procedures for Cash Management
- Authorized Actuary to produce June 30, 2021 Actuarial Valuation with up to 15-basis point interest rate reduction
- Approved 2022 Board Meeting Schedule
- Approved Benefits Change Report
- Accepted financial report for period ending June 30, 2021
- Approved minutes from June 23, 2021 Board meeting
- Approved minutes from July 14, 2021 Executive Committee meeting
- Amended and adopted July 28, 2021 Investment Committee meeting minutes
Louisiana State Police Retirement System Board of Trustees
The Board approved a $10 million investment in the Blackstone Strategic Partners Fund IX, pending contract negotiations. Trustees also accepted the May 2021 financial report and a revised budget approved by the Joint Legislative Committee on the Budget.
- Approved $10M investment in Blackstone Strategic Partners Fund IX (Passed)
- Approved Board Minutes from April 28, 2021 (Passed)
- Approved Investment Committee Minutes from May 26, 2021 (Passed)
- Accepted May 2021 financial report (Passed)
- Accepted revised budget approved by Joint Legislative Committee on the Budget (Passed)
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Investment Committee will meet to discuss alternative investments including KKR and Insight Partners funds, review market returns and asset allocation as of March 31, 2021, hear an economic outlook from UBS, receive a fixed-income update from Orleans Capital Management, and consider a motion on portfolio rebalancing.
- Review of alternative investments: KKR North American Fund XIII SCSp and Insight Partners Growth Fund (trustee educational credits)
- Portfolio Advisors update on PAPEF VI, VII, IX funds and new investment opportunities
- Market value return summary and asset allocation flash report as of March 31, 2021
- Orleans Capital Management fixed-income core portfolio update covering inflation and policy intervention
- Motion requested on portfolio rebalancing and prospective alignment
The Investment Committee received presentations on private equity and growth funds from KKR, Insight Venture Management, and Portfolio Advisors. The committee reviewed a flash report showing total funds of $1,132,090,390 as of April 30, 2021, and discussed the need to rebalance the portfolio to reduce equity allocation.
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will consider approval of minutes from prior meetings, investment and financial reports, and several contracts including audit, actuarial, copy machine, and accounting services. The board will also vote on policy updates, a benefits change report, and discuss legislation and tree removal. No dollar amounts are specified in the agenda.
- Approval of 2021 and 2022 audit contract
- Approval of actuarial contract
- Approval of copy machine contract
- Approval of accounting contract
- Policy updates on estimate requests and return of contributions
The Board approved several service contracts, including a new audit firm and a renewal for actuarial services. Trustees also approved updates to retirement estimate and contribution policies and granted the Executive Director limited budget adjustment authority.
- Approved audit contract with Ericksen Krentel, LLP for two years
- Approved actuarial contract renewal with Greg Curran at $3,950 per month for one year
- Approved copier contract with Gulf Coast Office Products at $462 per month for five years
- Approved accounting contract renewal with Griffin & Furman at $5,000 per month through June 30, 2023
- Approved EXIGO Technology Services Statement of Work not to exceed $3,750
- Approved updates to Estimate Request and Return of Contribution policies
- Approved granting Executive Director authority to approve budget fluctuations up to 1%
- Approved removal of unhealthy or dying trees at 9224 Jefferson Highway
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will meet to elect a new Chairman and Vice-Chairman for 2021. The agenda includes reviewing January 2021 investment and financial reports, as well as discussing leave conversion calculation methodology.
- Election of 2021 Chairman and Vice-Chairman
- Appointment of 2021 Investment and Executive Committees
- Review of January 31, 2021 Flash Report and Asset Allocation Chart
- Discussion of Leave Conversion Calculation Methodology
- Approval of Benefits Change Report
The provided document is a meeting agenda rather than minutes. It lists proposed items for discussion, including the election of officers and approval of financial reports, but does not record any decisions or outcomes.