Louisiana State Police Retirement System Board of Trustees public meetings in 2023
8 substantive meetings from 2023, 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 meet to approve October meeting minutes and financial reports, and to discuss a request for proposals for institutional investment consulting services. The board will also review a benefits change report and receive a legislative update. An executive session is scheduled for a strategic unclassified salary review.
The Board approved a strategic plan for unclassified personnel salary increases and authorized a request for proposals for an institutional investment consulting service. Members also accepted financial reports for the period ending October 31, 2023, and approved a revised benefits change report.
- Approved Board Minutes from October 25, 2023
- Accepted financial reports for the period ending October 31, 2023
- Approved issuance and advertisement of RFP for Institutional Investment Consulting Service
- Adopted strategic plan for Unclassified Personnel Salary increases
- Approved revised Benefits Change Report to remove Jeff Argrave
- Approved December 13, 2023 Benefits Change Report in globo
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will vote on several action items, including approval of the 2025 budget, the June 30, 2023 audit and actuarial reports, and a benefits change report. They will also discuss potential 2024 legislation and receive an executive director report on a document scanning project and strategic plan. Public comments will be heard at the start of the meeting.
- Approval of 2025 Budget (amount not specified)
- June 30, 2023 Audit Report presentation by Erkinsen Krentel
- June 30, 2023 Actuarial Report presentation by Curran & Co.
- September 30, 2023 Flash Report and Asset Allocation Chart by UBS/PaineWebber
- Discussion of Potential Legislation for 2024
The Board approved the 2025 operating budget, the June 30, 2023, audit and actuarial reports, and the Benefits Change Report. The Board also contracted MoeBiz for document scanning and Doreen Brasseaux for strategic planning. A vote on salary increases for the executive director and chief investment officer was deferred.
- Approved August 23, 2023, Board and Investment Committee minutes
- Accepted financial reports as of September 30, 2023
- Approved June 30, 2023, Audit Report
- Approved 2023 actuarial valuation
- Approved 2025 budget
- Approved Benefits Change Report
- Proposed legislation to update transfer statute regarding PBI funding
- Approved MoeBiz for scanning and document retention
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will meet on August 23, 2023, to discuss and vote on several routine items. These include approval of previous meeting minutes, a financial report for July 2023, an audit compliance questionnaire, the 2024 meeting schedule, and a benefits change report. The board will also receive an investment update from UBS. No major policy changes or new proposals are on the agenda.
- Approval of minutes from June 21, 2023 Board meeting and July 26, 2023 Investment Committee meeting
- July 31, 2023 Financial Report and check registers (action item)
- Audit Compliance Questionnaire (action item)
- Approval of 2024 Board and Investment Committee Meeting Schedule (action item)
- Approval of Benefits Change Report (action item)
The Board ratified the decision to terminate Vontobel and engage GQG as the replacement emerging markets manager. Trustees also approved the 2024 meeting schedule, the Audit Compliance Questionnaire, and the Benefits Change Report.
- Ratified termination of Vontobel and engagement of GQG as emerging markets manager
- Approved Board Minutes from June 21, 2023
- Approved Investment Committee Minutes from July 26, 2023
- Accepted financial reports for May, June, and July 2023
- Approved Audit Compliance Questionnaire
- Approved 2024 Board and Committee Meeting Schedule
- Approved Benefits Change Report in globo
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will meet to discuss and take action on several items, including the 2023 experience study, a revised investment policy, financial reports, and a benefits change request. The board will also receive a legislative session update and consider a contract for general counsel. An executive session is scheduled for the executive director evaluation.
- Experience Study 2023 – action item and trustee education
- Revised Investment Policy – action item
- May 31, 2023 Financial Report and check registers – action item
- Approval of Benefits Change Report – action item
- Contract General Counsel – action item
The Board approved new asset allocation bands for portfolio diversification and accepted a five-year actuarial experience study. The Board also authorized the hiring of new legal counsel and approved a 10% salary adjustment for the executive director.
- Approved April 26, 2023, Board Minutes
- Approved May 24, 2023, Investment Committee Minutes
- Accepted financial reports for month ending April 30, 2023
- Approved new proposed bands for asset allocation
- Accepted June 30, 2023 Experience Study presented by Greg Curran
- Authorized Executive Director to negotiate contract with Laura Gail Sullivan as general counsel
- Approved Benefits Change Report in globo
- Approved executive director evaluation and 10% salary adjustment
Louisiana State Police Retirement System Board of Trustees
The Louisiana State Police Retirement System Board of Trustees will meet to consider action items including a revised investment policy, approval of financial reports, and updates on the 2023 legislative session. The board will also discuss pending litigation in executive session and approve policy manuals and a benefits change report.
- Revised Investment Policy (action item)
- March 31, 2023 Financial Report and FYE Comparison (action item)
- 2023 Legislative Session Update
- Pending Litigation [Sebastian v. LSPRS] (executive session)
- Approval of Benefits Change Report (action item)
The Board authorized the Investment Committee to allocate investments within policy parameters and approved a real estate allocation increase. The Board also approved updated operational manuals and authorized the search for a new general counsel.
- Approved increasing maximum real estate allocation from 10% to 12.5%
- Authorized Investment Committee to allocate investments within policy parameters
- Approved updated Office Policy and Procedure Manual and review schedule
- Approved updated trustee handbook
- Approved Standard Operating Procedures (SOP) manual
- Authorized Executive Director to engage Bob Tarza as tax counsel
- Approved Benefits Change Report in globo
- Authorized Executive Committee to consider contracts for new general counsel
Louisiana State Police Retirement System Board of Trustees
The LSPRS Executive Committee will hold a routine meeting with public comments, then enter executive session to discuss personnel matters. No other substantive items are on the agenda.
- Personnel matters to be discussed in closed Executive Session
The LSPRS Executive Committee met on February 2, 2023, and approved a motion allowing the Executive Director to hire a Chief Investment Officer. The committee also entered and exited an executive session.
- Approved motion to allow Executive Director to hire a Chief Investment Officer
Louisiana State Police Retirement System Board of Trustees
The committee reviewed the UBS House View presentation regarding 2022 asset class performance and economic forecasts. Members also evaluated asset manager performance scores and updated the official investment watch list.
- Motion passed to remove Carlyle, Franklin Templeton, and Ivy from the watch list
- Motion passed to add T. Rowe, Brandes, and Brandywine to the watch list
- Review of 2022 performance showing US large cap equities finished at -14.2%
- Reported total investment portfolio return of 0.51% for the fiscal year to date
- Scheduled asset allocation study for March 2023
The Committee reviewed portfolio performance as of December 31, 2022, and the UBS House View presentation. The board updated its manager watch list based on performance and organizational changes. No other substantive actions were taken.
- Removed Carlyle, Franklin Templeton, and Ivy from the watch list
- Added T. Rowe, Brandes, and Brandywine to the watch list
Louisiana State Police Retirement System Board of Trustees
The Executive Committee of the Louisiana State Police Retirement System will meet on January 11, 2023, to address routine administrative items including roll call and public comments. The board will enter executive session to discuss personnel matters and will also receive a legislative update. No specific votes or financial actions are listed on the agenda.
- Personnel Matters (Executive Session) – discussion of confidential employee issues
- Legislative Update – review of pending or recent legislation affecting the retirement system
- Public Comments – opportunity for attendees to address the board
The Executive Committee voted to continue discussions with legislative leadership regarding an alternative mechanism for permanent benefit increases (PBIs). The committee also scheduled interviews with three individuals for February 2, 2023.
- Approved motion to support continuation of alternative PBI mechanism discussion with legislative leadership
- Decided to interview Doug Hanly, Brandon Carlson, and Matthew Smagacz on February 2, 2023