New Orleans Municipal Employees' Retirement System, LA

Board of Trustees

The New Orleans Employees' Retirement System board approved routine reports and discussed two draft ordinances: one to extend board terms from three to five years, and another to allow the city to pay pension contributions during furloughs. The board also received an investment update showing the plan up over 8.9% year-to-date, with no action items.

• Draft ordinance to extend board terms from three to five years
• Draft ordinance allowing city to pay employee and employer contributions during furlough periods
• Investment portfolio over $597 million, over $616 million including LAMP assets
• Blackrock Multi Asset Income fund flagged for underperformance
• Approved attendance at IFEBP conference in New Orleans, October 23-28

Board of Trustees

The Board of Trustees approved retirement allowances for March and reviewed investment performance through January 31, 2026. Members discussed potential ordinance changes for elected term lengths and furlough contribution payments. The board also received updates on a legislative bill regarding NOPD civilian employee retirement membership.

• Approval of retirement allowances for March 2026
• Investment portfolio reported at $567 million, with $589 million including LAMP assets
• Discussion of ordinance to change elected office terms from three to five years
• Proposed ordinance for city payment of employee/employer contributions during furloughs
• Update on legislative bill to exempt NOPD civilian employees from Municipal Police Employees’ Retirement System

The Board of Trustees approved the retirement allowances for March and the meeting minutes from February 23, 2026. Members discussed potential ordinance changes to extend elected office terms to five years and streamline furlough contribution payments.

• Approved February 23, 2026 regular meeting minutes (4-0)
• Approved retirement allowances for March (4-0)

Board of Trustees

The New Orleans Employees' Retirement System board met, approved routine items, and accepted the annual actuarial valuation. The board approved a 6% employee contribution rate and a 15.76% employer rate for 2027, which includes funding for a potential COLA. They also discussed a proposed change to extend board terms from three to five years, pending charter and ordinance changes.

• Approved 2027 contribution rates: 6% employee, 15.76% employer (includes 0.5% for COLA)
• Accepted actuarial valuation as of Jan 1, 2026; funded ratio rose to 66.06% (actuarial basis)
• Ross Bourgeois re-elected as employee representative with 147 votes
• Discussed draft ordinance to extend board terms from 3 to 5 years
• Investment portfolio over $581M, positive year-to-date over 5%

The Board of Trustees approved the 2027 employee contribution rate of 6% and an employer contribution rate of 15.76%, which includes funding for a retiree cost-of-living adjustment. Trustees also accepted the January 1, 2026, actuarial valuation report and ratified retirement allowances for May 2026. Additionally, the board confirmed the re-election of Ross Bourgeois as the employee representative for a three-year term.

• Approved May 20, 2026 meeting minutes (3-0)
• Ratified May 2026 retirement allowances (3-0)
• Accepted January 1, 2026 actuarial valuation report (3-0)
• Approved 6% employee and 15.76% employer contribution rates for 2027 (3-0)
• Adjourned meeting (3-0)

Board of Trustees

The Board of Trustees discussed pension fund liquidity and trustee governance. The body decided to seek a charter or ordinance change to extend board member terms and approved the sale of assets to cover benefit payments.

• Motion to change board member terms for employee representative, retiree representative, and Mayoral appointee from three years to five years
• Decision to redeem $4 million from Vanguard Institutional Index fund and $4 million from Cornerstone to meet $2.5 million in upcoming benefit payments
• Approval of retirement allowances for April and May
• Registration of four trustees for the 2026 Louisiana Association of Public Employees’ Retirement System (LAPERS) conference
• Report that efforts to exempt NOPD civilian employees from MPERS membership were unsuccessful for the 2025 legislative session

The Board of Trustees voted to redeem $8 million from investment funds to cover benefit payments and improve policy compliance. Members also approved a request to extend trustee terms of service from three to five years. Additionally, the board authorized registration for four members to attend the 2026 LAPERS conference.

• Approved March 18, 2026 regular meeting minutes
• Approved retirement allowances for April and May
• Requested charter/ordinance change to extend trustee terms from three to five years
• Approved redemption of $4M from Vanguard Institutional Index and $4M from Cornerstone
• Approved registration for four trustees to attend the 2026 LAPERS conference

Board of Trustees

The Board of Trustees updated the Investment Policy Statement and approved several asset reallocations to ensure fund compliance. The board also approved February retirement allowances and a disability application for Daisha Common.

• Approved a new red-line draft of the Investment Policy Statement (IPS)
• Approved selling $8 million from Cornerstone and $4 million from Vanguard 500 Fund
• Approved transferring $5 million to Bivium Small Cap and $4 million to Cash Reserve
• Approved buying $2 million of Pimco Income Fund and $1 million of Blackrock Multi Asset Income Fund
• Approved the disability retirement application for Daisha Common

The Board of Trustees adopted a new Investment Policy Statement and approved several asset transfers to ensure fund compliance. The board also approved February retirement allowances and a disability application for Daisha Common.

• Approved new Investment Policy Statement (IPS) (4-0)
• Approved portfolio adjustments including selling $8M from Cornerstone and $4M from Vanguard 500 Fund (4-0)
• Approved $5M transfer to Bivium Small Cap (4-0)
• Approved $2M purchase of Pimco Income Fund and $1M purchase of Blackrock Multi Asset Income Fund (4-0)
• Approved $4M transfer to Cash Reserve (4-0)
• Approved retirement allowances for February (4-0)
• Approved disability application for Daisha Common (4-0)
• Approved January 21, 2026 meeting minutes (4-0)

Board of Trustees

The New Orleans Municipal Employees' Retirement System board held its regular meeting on January 21, 2026. Trustees approved monthly retirement allowances, a 2% interest rate for member accounts, and investment portfolio adjustments to comply with policy ranges. The board also discussed upcoming legislation for NOPD civilian employees and potential furlough-related pension adjustments.

• Approved 2% interest rate for eligible member contribution balances
• Authorized $5M sale of Vanguard Large Cap Growth Index Fund and $2.5M each in Vanguard Extended Market Index and Vanguard Total International Fund purchases
• Discussed legislation to exempt NOPD civilian employees from MPERS enrollment
• Announced $500 COLA payment to eligible retirees by February 27
• Considered ordinance for pension contributions during city furloughs

The Board of Trustees approved a 2% interest rate for eligible member contribution balances and ratified retirement allowances for January. The board also authorized a $5 million portfolio rebalancing to maintain investment policy compliance. Additionally, a one-time $500 cost of living adjustment for eligible retirees will be paid by February 27.

• Approved 2% interest rate for eligible member contribution balances (5-0)
• Approved retirement allowances for January (5-0)
• Approved selling $5M from Vanguard Large Cap Growth Index Fund and buying $2.5M each of Vanguard Extended Market Index and Vanguard Total International Fund (5-0)
• Approved November 19, 2025 meeting minutes (5-0)
• Sworn in Ms. Rambeau as a member of the board