Registrar of Voters Employees' Retirement System Board of Trustees public meetings in 2022
6 substantive meetings from 2022, with official agendas or minutes and plain-English summaries.
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System Board of Trustees is meeting to hear an attorney's presentation on pending litigation and will then enter executive session to discuss the matter. Public comments are allowed on each agenda item before board votes.
- Presentation by attorney Denise Akers on litigation in Recreation and Park Commission for East Baton Rouge v. Sid J. Gautreaux, III (suit 725,439)
- Board reserves right to enter executive session for litigation and personnel discussions
- Public comments permitted on each agenda item prior to board vote
The Board of Trustees voted unanimously to hire outside attorneys Bob Klausner and Bob Tarcza to work with attorney Denise Akers. This legal team will represent the system in the litigation of Recreation and Park Commission for the Parish of East Baton Rouge v Sid J Gautreaux, III.
- Voted unanimously to enter executive session at 2:03 p.m.
- Voted unanimously to exit executive session at 2:22 p.m.
- Voted unanimously to hire attorneys Bob Klausner and Bob Tarcza at an hourly fee of $350.00 (divided by all represented systems)
- Authorized Director Kathy Bourque and Attorney Denise Akers to make decisions and give permission to counsel regarding the litigation
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System Board of Trustees will meet to review the 2022 auditor's report, discuss and act on an updated Investment Policy Statement, and hear presentations from investment consultants. The board will also consider adopting a policy for approving Option 4 benefits and review the 2022 funding valuation report.
- Review of 3rd Quarter 2022 Portfolio Performance by AndCo Consulting
- Discussion and action related to updated Investment Policy Statement
- Discussion and action related to adopting a policy for approving Option 4 benefits
- 2022 Funding Valuation Report from Curran Actuarial Consulting
- Announcement of Board Election Results
The Board approved a new investment manager for small cap equity and updated the system's Investment Policy Statement. Trustees also adopted a pre-approved Option 4 policy and established a general timeline for benefit applications. The Board accepted the 2022 financial audit and actuarial valuation reports.
- Hired Barrow Hanley Global Investors to manage approx. 5% or $5.5M in small cap equity (Unanimous)
- Approved updated Investment Policy Statement dated November 15, 2022 (Unanimous)
- Approved Pre-Approved Option 4 Policy for beneficiary payments (Unanimous)
- Approved General Timeline for Applications for retirement and survivor benefits (Unanimous)
- Accepted Auditor's report from Duplantier, Hrapmann, Hogan and Maher, L.L.P. (Unanimous)
- Accepted Actuarial Valuation Report as of June 30, 2022 (Unanimous)
- Approved Louisiana Compliance Questionnaire (Unanimous)
- Tabled legislation to limit Option 2 and Option 3 to spouses until 2024 session
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System board will review second-quarter 2022 investment performance, hear a legislative update, and consider adopting a policy for Option 4 benefits and clarifying the effective date of retirement applications. The board will also discuss approving a harassment policy and setting the valuation interest rate for fiscal 2022.
- Review of 2nd Quarter 2022 Portfolio Performance and July 2022 Market Update
- Discussion and action on adopting a policy for approving Option 4 benefits
- Discussion and action on clarifying policy for effective date of retirement applications
- Discussion and action on approval of the valuation interest rate for Fiscal 2022 valuation
- Discussion and action on approval of a Harassment Policy
The Board approved a new international investment manager and maintained the system's valuation interest rate at 6.25%. Members also adopted a new harassment policy and requested new administrative rules for retirement applications.
- Hired Dimensional Fund Advisors as International Mutual Fund Manager (Unanimous)
- Voted to interview Barrow Hanley Global Investors and Victory Integrity Small/Mid-Cap Value R6 at next meeting (Unanimous)
- Maintained valuation interest rate at 6.25% (Unanimous)
- Adopted Harassment Policy effective July 1, 2022 (Unanimous)
- Requested Administrative Rule for retirement application deadlines (Unanimous)
- Requested policy regarding Option 4 for future review (Unanimous)
- Approved May 23 and May 24, 2022 meeting minutes (Unanimous)
- Approved Custodial and Member Supplemental Savings reports (Unanimous)
Registrar of Voters Employees' Retirement System Board of Trustees
The board will review first-quarter 2022 portfolio performance and hear a report from the system's attorney on the 2022 legislative session. They will discuss and take action on adopting a policy for approving Option 4 benefits, the proposed budget for fiscal year 2023, and the renewal of actuarial and administrative contracts. A decision is also expected on Sandra Wilson's Option 4 retirement and conversion of state leave.
- Review of 1st Quarter 2022 Portfolio Performance
- Discussion and action on adopting a policy for approving Option 4 benefits
- Discussion and action on proposed budget for fiscal year 2023
- Discussion and action on Sandra Wilson's Option 4 retirement
- Discussion and action on renewal of actuarial and administrative contracts
The Board of Trustees approved the proposed 2023 operating budget and renewed administrative and actuarial contracts with G.S. Curran & Company. Members also approved financial reports from Hancock Whitney and AndCo Consulting. The Board directed staff to develop a new policy regarding Option 4 retirement benefits for non-spouses.
- Approved 2023 Proposed Operating Budget (unanimous)
- Approved renewal of G.S. Curran & Company actuarial and administrative contracts for FY 2023 (unanimous)
- Approved Custodial and Member Supplemental Savings reports from Hancock Whitney (unanimous)
- Accepted investment performance reports from AndCo Consulting (unanimous)
- Voted to create a policy regarding Option 4 retirement benefits for board review (unanimous)
- Approved health insurance reimbursement of 50% up to $200/month for employee Danielle Ball (unanimous)
- Approved Sandra Wilson's selection of Option 4 for DROP (unanimous)
- Approved minutes from March 9, 2022 meeting (unanimous)
Registrar of Voters Employees' Retirement System Board of Trustees
This is a special board meeting dedicated entirely to educational training for trustees. The agenda includes presentations on inflation and investing, system laws, asset smoothing methodology, and system rules. No votes or decisions are scheduled; the meeting is for trustee training credit only.
- Inflation and Investing - educational presentation by AndCo Consulting
- Laws of the System - educational presentation by Akers & Wisbar
- Asset Smoothing Methodology - educational presentation by G. S. Curran & Company
- Rules of the System - educational presentation by Director Kathy Bourque
The Board of Trustees conducted a special meeting focused on educational presentations. No substantive policy decisions or financial approvals were made during the session.
- Adjourned meeting at 5:35 pm
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System Board of Trustees will meet to elect officers, administer oaths, and review investment performance. Key decisions include setting the employer contribution rate for the upcoming fiscal year and approving actuarial equivalence assumptions. The board will also discuss a proposed legislative session, budget updates for cyber security insurance, and a retirement option for an employee.
- Election of 2022 Board Chairman & Co-Chairman
- Review of 4th Quarter 2021 Portfolio Performance and January 2022 Update
- Discussion and action on setting employer rate for July 1, 2022 through June 30, 2023
- Discussion and action on Actuarial Equivalence Assumptions effective July 1, 2022
- Discussion and action on budget updates for cyber security insurance
The Board of Trustees approved the employer contribution rate for the 2022-2023 fiscal year and voted to oppose HB 25. Other actions included electing new leadership, updating actuarial assumptions, and amending the budget for cyber insurance.
- Elected Dwayne Wall as Chairman and Joanne Reed as Vice Chairman (Unanimous)
- Voted to oppose HB 25 regarding investments in companies that boycott energy companies (Unanimous)
- Set employer contribution rate at 18% for July 2022-June 2023 (Unanimous)
- Approved updated option factors and actuarial equivalence assumptions effective July 1, 2022 (Unanimous)
- Amended budget to increase Cyber Insurance by $5,200.00 (Unanimous)
- Approved Juanita Powell's Option 4 selection naming her son as beneficiary (Unanimous)
- Approved Custodial Report and Member Supplemental Savings Report (Unanimous)
- Scheduled special education meeting for May 23, 2022, and regular meeting for May 24, 2022 (Unanimous)