Registrar of Voters Employees' Retirement System Board of Trustees public meetings in 2024
4 substantive meetings from 2024, with official agendas or minutes and plain-English summaries.
Registrar of Voters Employees' Retirement System Board of Trustees
The Board of Trustees will review actuarial funding reports and portfolio performance for the third and fourth quarters of 2024. The meeting includes reports from auditors and investment consultants, as well as a discussion on pending litigation in executive session.
- 2024 Funding Valuation Report and GASB Funding Report from Curran Actuarial Consulting, LTD.
- 3rd and 4th Quarter 2024 Portfolio Performance review by Mariner
- 2024 Auditor’s Report from Duplantier, Hrapmann, Hogan, & Maher, L.L.P.
- Executive session regarding litigation including 'Branan vs. PPG, et al'
- Members’ Supplemental Savings Fund Performance Review and Approval
The provided document is a meeting agenda rather than minutes. It does not record any decisions, votes, or outcomes from the meeting.
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System Board of Trustees will review second-quarter and August 2024 portfolio performance, hear a custodian report from Hancock Whitney, and discuss pending litigation in executive session. The board will also consider a scanning project budget update and set the next meeting date.
- Review of 2nd Quarter 2024 Portfolio Performance by Mariner (formerly AndCo Consulting)
- Custodian Report for 2nd Quarter 2024 and Members' Supplemental Savings Fund Performance Review by Hancock Whitney
- Discussion and action regarding pending litigation: Branan vs. PPG and Recreation and Park Commission v Sid J. Gautreaux, III
- Discussion and action regarding scanning project & budget update
- Update regarding ROVERS Board of Trustee Election
The Board of Trustees accepted financial and investment reports showing a total market value of $136,698,990 as of June 30, 2024. The Board also approved minutes from June 2024 meetings and accepted reports from legal counsel and the system actuary.
- Approved June 11, 2024, educational training board meeting minutes (Unanimous)
- Approved June 12, 2024, board meeting minutes (Unanimous)
- Accepted Mariner Investment Performance Review (Unanimous)
- Accepted Hancock Whitney Custodial and Members Supplemental Savings Reports (Unanimous)
- Accepted report from legal counsel Laura Gail Sullivan (Unanimous)
- Accepted report from Curran Actuarial Consulting, Ltd. (Unanimous)
- Accepted Director's report (Unanimous)
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System Board of Trustees will meet to discuss and potentially act on several key items, including setting the employer contribution rate for the 2024-2025 fiscal year and approving a cost-of-living adjustment (COLA) effective July 1, 2024. The board will also review fourth-quarter 2023 portfolio performance and hear an update on the AndCo/Mariner acquisition. Additionally, the board will consider a special trustee election and receive legal updates on pending litigation.
- Discussion and action on employer rate for July 1, 2024 – June 30, 2025
- Discussion and action on January 1, 2024 COLA approval
- Review of 4th Quarter 2023 portfolio performance by investment consultant AndCo Consulting
- Discussion regarding AndCo/Mariner acquisition
- Update on litigation in Recreation and Park Commission v Sid J. Gautreaux, III (Suit 725,439)
The Board approved the fiscal 2025 budget and renewed several professional service contracts. Key investment actions included liquidating the Virtus International Equity Fund to invest in MFS International Growth Funds and rebalancing $2.5 million in assets. The Board also hired legal counsel for specific pending litigation.
- Approved fiscal 2025 budget (unanimous)
- Approved 100% liquidation of Virtus International Equity Fund to invest in MFS International Growth Funds (unanimous)
- Approved rebalancing $2.5 million from Fidelity Total Market Index Fund to Orleans Capital Domestic Fixed Income Fund (unanimous)
- Approved three-year contract renewal with Mariner at $95,000 per year (unanimous)
- Approved renewal of Curran Actuarial Consulting actuarial and administrative contracts for FY2025 (unanimous)
- Adopted 6.25% valuation interest rate for 2024 valuation (unanimous)
- Approved hiring Robert Tarcza for legal representation in Branan vs. PPG and associated cases (unanimous)
- Approved one-year contract renewal for attorney Laura Gail Sullivan effective July 1, 2024 (unanimous)
Registrar of Voters Employees' Retirement System Board of Trustees
The Registrar of Voters Employees' Retirement System board will discuss and act on setting the employer contribution rate for July 2024–June 2025 and approving a January 1, 2024 cost-of-living adjustment. They will also review fourth-quarter 2023 portfolio performance, hear updates on the AndCo/Mariner acquisition, and receive a legal report on 2024 legislative session and pending litigation.
- Discussion and action on setting employer rate for July 1, 2024 – June 30, 2025
- Discussion and action on approval of January 1, 2024 COLA
- Review of 4th Quarter 2023 Portfolio Performance by AndCo Consulting
- Discussion regarding AndCo/Mariner Acquisition
- Update on litigation: Recreation and Park Commission v Sid J. Gautreaux, III (Suit 725,439)
The Board approved a 3% COLA for retirees of at least two years and a 2% supplemental COLA for retirees age 65 and older, effective July 1, 2024. The employer contribution rate was set at 18% for the upcoming fiscal year. Additionally, the Board voted to oppose SB 5 in its current form.
- Set employer contribution rate at 18% for July 1, 2024 - June 30, 2025 (unanimous)
- Approved 3% COLA for retirees of 2+ years and 2% supplemental COLA for retirees 65+ of 1+ year, effective July 1, 2024 (unanimous)
- Voted to oppose SB 5 by Representative Miguez in its current form (unanimous)
- Authorized Director to sign consent form changing investment contract from AndCo Consulting to Mariner Institutional (unanimous)
- Approved liquidation of Virtus International Equity Fund to move proceeds to international index fund (unanimous)
- Approved actuarial assumptions as presented by Curran Actuarial Consulting (unanimous)
- Called for a special election to fill Ms. Meyer's expired term, effective January 1, 2025 (unanimous)
- Scheduled Special Education Meeting for June 11, 2024 (unanimous)