Patient's Compensation Fund Oversight Board public meetings in 2022
17 substantive meetings from 2022, with official agendas or minutes and plain-English summaries.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to approve prior minutes, receive the annual financial audit from Postlethwaite and Netterville, and discuss monthly finances and claims. An executive session is scheduled for litigation discussion.
- Annual Financial Audit by David Moore and Lindsay Watts of Postlethwaite and Netterville
- Monthly Financial Discussion and Reports
- Claims Report
- Executive session for litigation and claims committee reports
The Patient's Compensation Fund Oversight Board approved 14 claims for settlement totaling $4,035,178. The Board also adopted the November 3, 2022 meeting minutes and reviewed a financial audit report with no findings.
- Approved November 3, 2022 minutes (unanimous)
- Approved 14 claims for settlement totaling $4,035,178 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to discuss financial and operational matters. Key items include approval of the 2023-24 budget, an investment update from advisors, and a claims report. The board will also enter executive session to discuss litigation.
- Approval of the 2023-24 budget
- Investment update from Cardinal Investment Advisors
- Monthly financial and claims reports
- Approval of October 6, 2022 meeting minutes
- Executive session for litigation discussion
The Board approved a projected budget of $159,058,188 for the 2023-24 fiscal year. Members also approved 23 claims for settlement totaling $9,693,000 and adopted the October 6, 2022 meeting minutes.
- Approved 2023-24 projected budget of $159,058,188 (unanimous)
- Approved 23 claims for settlement totaling $9,693,000 (unanimous)
- Adopted October 6, 2022 minutes (no dissenting votes)
- Agreed to receive more information on private equity investing at the next quarterly update
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will hold a general session to approve minutes, receive public comments, and review monthly financial and claims reports. The board will then enter executive session to discuss litigation involving the fund. No major policy decisions or new business items are listed.
- Approval of September 1, 2022 board minutes
- Monthly financial and budget reports
- Claims report
- Executive session for litigation discussion
The Patient's Compensation Fund Oversight Board approved 19 claim settlements totaling $5,517,500. The Board also adopted the minutes from the September 1, 2022 meeting and reviewed current fund balances and claims data.
- Approved September 1, 2022 minutes (unanimous)
- Approved 19 claim settlements totaling $5,517,500 (unanimous with noted abstentions)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board is holding a regular meeting to review investment and fixed income updates, monthly financial and budget reports, and a claims report. The agenda also includes an executive session to discuss litigation involving the board. No specific decisions or proposals are listed; the meeting appears procedural.
- Investment Update by Matt Padberg of Cardinal Investment Advisors, LLC
- Fixed Income Update by Patrick Scully & Sean Coughlin of NEAM
- Monthly Financial and Budget Reports
- Claims Report
- Executive Session for litigation discussion
The Board approved 23 claim settlements totaling $7,276,688 for the month of August. Members reviewed quarterly investment reports and financial statements, including a fund balance of approximately $1.27 billion. The Board decided to maintain current Louisiana Municipal Bond allocations.
- Approved August 4, 2022 minutes (unanimous)
- Approved 23 claim settlements totaling $7,276,688 (unanimous)
- Maintained current allocation of Louisiana Municipal Bonds
- Moved into Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
This is a routine meeting of the Patient's Compensation Fund Oversight Board. The board will hear public comments, approve minutes from July, and review monthly financial and budget reports. An executive session is scheduled to discuss litigation involving the board.
- Approval of July 7, 2022, meeting minutes
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for discussion of litigation
The Board approved 18 claim settlements totaling $7,182,150 for the month of July. Members also adopted the minutes from the July 7, 2022 meeting and reviewed financial and claims reports.
- Approved July 7, 2022 minutes
- Approved 18 claim settlements totaling $7,182,150
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet on July 7, 2022, at Our Lady of the Lake Regional Medical Center. The agenda includes the annual actuary report from Willis Towers Watson, a compensation committee report evaluating unclassified executive staff, monthly financial and budget reports, and a claims report. The board will also enter executive session to discuss litigation involving the PCFOB.
- Annual Actuary Report by Jim Hurley of Willis Towers Watson
- Compensation Committee Report – Evaluation of Unclassified Executive Staff
- Monthly Financial and Budget Reports
- Claims Report
- Executive Session for discussion of litigation
Patient's Compensation Fund Oversight Board
The Board decided to maintain current PCF surcharge rates despite an actuary report indicating a 14.5% increase in indicated rates. The Board also approved salary increases and one-time performance bonuses for two unclassified executive staff members. Additionally, 26 claims totaling $10,991,000 were approved for settlement.
- Approved June 2, 2022 minutes (unanimous)
- Maintained current PCF surcharge rates (no dissenting votes)
- Approved 5% salary increase for Mr. Schnauder and Mr. Loup (unanimous)
- Approved $2,500 one-time performance adjustment for Mr. Schnauder and Mr. Loup (no dissenting votes)
- Approved 26 claims for settlement totaling $10,991,000 (unanimous)
Patient's Compensation Fund Oversight Board
The Louisiana PCF Oversight Board will meet to approve prior minutes, elect officers, receive a legislative update, and review monthly financial and budget reports as well as a claims report. An executive session is scheduled for discussion of litigation involving the board.
- Election of officers
- Legislative update
- Monthly financial and budget reports
- Claims report
- Executive session for litigation discussion
The Board re-elected its current officers and approved 25 claim settlements totaling $17,526,160. The meeting included financial reports showing a fiscal year-to-date fund balance of approximately $1,271,698,224.
- Adopted May 5, 2022 minutes (unanimous)
- Elected Dr. Foret as Chairman, Mr. Naquin as Vice Chairman, and Dr. Alvarado as Secretary (unanimous)
- Approved 25 claim settlements totaling $17,526,160 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to approve minutes, fiscal 2022-23 administrative contracts, and receive a quarterly investment update. They will also review monthly financial and claims reports, and discuss litigation in executive session.
- Quarterly Investment Update from Cardinal Investment Advisors
- Approval of Fiscal 2022-23 Administrative Contracts
- Legislative Update
- Monthly Financial and Budget Reports
- Claims Report
The Board approved the renewal of contracts with NEAM and Cardinal Investment Advisors, LLC, and seven administrative contracts. It also voted to increase hourly rates for PCF defense attorneys and reallocate emerging market debt funds. Additionally, the Board approved 20 claims for settlement and one final judgment of $5,565,744.
- Approved April 7, 2022, minutes
- Reallocated Goldman Sachs Emerging Market Debt funds to PGIM Emerging Market Debt
- Renewed 3-year contract with NEAM
- Renewed contract with Cardinal Investment Advisors, LLC
- Approved 7 administrative contract renewals effective July 1, 2022
- Increased defense attorney hourly rates to $195, $165, and $140 based on experience
- Approved 20 claims for settlement
- Approved one final judgment in the amount of $5,565,744
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will hold a general session to approve prior minutes, receive a legislative update, and review monthly financial and budget reports as well as a claims report. The board will then enter executive session to discuss litigation involving the PCFOB.
- Approval of March 3, 2022, minutes
- Legislative update
- Monthly financial and budget reports
- Claims report
- Executive session for litigation discussion
The Board approved 21 claims for settlement and one final judgment totaling $7,326,576. Members also reviewed financial reports and legislative updates. The meeting included a closed executive session to discuss litigation.
- Approved March 3, 2022, minutes (unanimous)
- Approved 21 claims for settlement and one final judgment totaling $7,326,576 (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to discuss quarterly investment performance, monthly financial and budget reports, and claims. An executive session is scheduled for discussion of litigation involving the board.
- Quarterly Investment Update from Cardinal Investment Advisors
- Invesco US Income Fund presentation
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for litigation discussion
The Board approved 18 claim settlements totaling $11,047,000 following an executive session. The meeting also included a quarterly investment report and a financial update on fund balances and expenses.
- Approved February 10, 2022, minutes (unanimous)
- Approved 18 claim settlements totaling $11,047,000 (unanimous)
Patient's Compensation Fund Oversight Board
The Board approved 24 claim settlements totaling $10,540,000. The Board also adopted the minutes from the January 6, 2022, meeting.
- Approved 24 claim settlements totaling $10,540,000 (unanimous)
- Adopted January 6, 2022, meeting minutes (unanimous)
Patient's Compensation Fund Oversight Board
The board will hold a general session to discuss monthly financial and claims reports. The meeting includes a vote on Act 43 meeting compliance requirements and an executive session regarding litigation and claims.
- Act 43 Meeting Compliance Requirement vote
- Approval of January 6, 2022 minutes
- Monthly Financial Discussion and Reports
- Claims Report
- Litigation and Claims Committee Reports (Executive Session)
Patient's Compensation Fund Oversight Board
The Board is convening a meeting via Zoom on February 10, 2022, to conduct normal business and address the COVID-19 crisis. The document serves as a notice and certification for the teleconference format.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom to conduct a general session including financial discussions and reports. The board will also vote on Act 43 meeting compliance requirements and review the December 2, 2021 minutes.
- Vote on Act 43 Meeting Compliance Requirement
- Approval of December 2, 2021 Minutes
- Monthly Financial Discussion and Reports
- Claims Report
- Executive Session regarding litigation involving the PCFOB
Patient's Compensation Fund Oversight Board
The Board approved 19 claim settlements totaling $14,425,345. Members also adopted the minutes from the December 2, 2021 meeting and reviewed current fund balances and claim counts.
- Approved 19 claim settlements totaling $14,425,345 (unanimous)
- Adopted December 2, 2021 meeting minutes (unanimous)
Patient's Compensation Fund Oversight Board
The Board is convening a meeting on January 6, 2022, via Zoom. The agenda is procedural boilerplate and does not list specific business items or decisions.