New Orleans Municipal Employees' Retirement System public meetings in 2025
10 substantive meetings from 2025, with official agendas or minutes and plain-English summaries.
Board of Trustees
The New Orleans Municipal Employees' Retirement System Board of Trustees met to approve retirement allowances, discuss pending securities litigation, and authorize legislative action for NOPD civilian employees. The board also voted to grant a one-time $500 cost-of-living adjustment (COLA) to eligible retirees in 2026.
- Voted unanimously to pursue lead plaintiff status in securities litigation against Stride
- Approved one-time $500 COLA for eligible retirees with retirement dates no later than December 31, 2025
- Authorized legislative bill to exempt NOPD civilian employees from MPERS enrollment requirements
- Approved attendance at the 2026 NCPERS Communication & Member Services Summit in San Diego
- Received monthly contribution, refund, and deceased member reports
The Board of Trustees approved a one-time $500 cost of living adjustment for eligible retirees. The board also authorized pursuing lead plaintiff status in securities litigation against Stride and initiated steps for legislation regarding NOPD civilian employee retirement exemptions.
- Approved one-time $500 COLA for 2026 for retirees with dates no later than Dec 31, 2025 (4-0)
- Approved pursuing lead plaintiff status in securities litigation against Stride (4-0)
- Authorized steps to propose legislation exempting NOPD civilian employees from MPERS enrollment (4-0)
- Approved retirement allowances for November (4-0)
- Approved October 15, 2025 regular meeting minutes (4-0)
- Approved attendance of Ms. Kahn and Mr. DeLarge at the NCPERS Summit in San Diego (4-0)
Board of Trustees
The New Orleans Municipal Employees' Retirement System Board of Trustees met to review the annual audit report, approve retirement allowances, and discuss investment and governance matters. The board accepted the 2024 audit report with an unqualified opinion and approved monthly retirement allowances. Key decisions included rebalancing $22.5M in assets and terminating three international equity managers.
- Accepted 2024 audit report with unqualified opinion
- Approved retirement allowances for October
- Rebalanced $22.5M: sold $13M from Vanguard/Wedge funds, bought $13M in Macquire/Pimco/Corbin funds
- Terminated Invesco, Wasatch, and First Eagle; reallocated $54M to CC&L and Lazard
- Approved retroactive benefit increase for retired member Jack Cardarella
The Board of Trustees accepted the 2024 annual audit report and approved retirement allowances for October. Members authorized several investment rebalancing actions and the hiring of two new international equity managers. The board also approved retroactive benefit payments for a retired member based on previous practice.
- Accepted 2024 annual audit report (unanimous)
- Approved September 17, 2025 meeting minutes (unanimous)
- Approved October retirement allowances (unanimous)
- Approved selling $8M from Vanguard Large Cap Growth Index Fund and $5M from Wedge Large Cap Value (unanimous)
- Approved buying $4.5M of Macquire Diversified Income, $4.5M of Pimco Income Fund, and $4M of Corbin ERISA Opportunity Fund (unanimous)
- Approved terminating Invesco, Wasatch, and First Eagle and allocating $54M total to CC&L and Lazard (unanimous)
- Approved retroactive benefit payments to Mr. Cardarella and updated policy for future impacted members (unanimous)
Board of Trustees
The New Orleans Municipal Employees' Retirement System Board of Trustees held its regular meeting on September 17, 2025, approving retirement allowances for August and September and receiving monthly reports. The board also heard presentations from four investment firms as part of an International Equity RFP process.
- Approved retirement allowances for August and September 2025
- Received monthly contribution, refund, transfer, and deceased member reports
- Heard presentations from Janus Henderson, Acadian, Lazard, and Connor Clark Lunn Investment Management as part of International Equity RFP process
The Board of Trustees approved the retirement allowances for August and September and the minutes from the July 16, 2025, meeting. The board also heard presentations from four firms regarding an International Equity RFP.
- Approved July 16, 2025 regular meeting minutes (unanimous)
- Approved retirement allowances for August and September (unanimous)
Board of Trustees
The Board of Trustees reviewed investment performance and updated the scope of work for an International Equity RFP to align with Louisiana law. The board also discussed the status of a proposed legislative bill and the enrollment of civilian police employees in the retirement system.
- Approved adjustment to International Equity Manager RFP scope of work regarding fiduciary standard of care
- Approved retirement allowances for April
- Authorized Director Jesse Evans, Jr. to engage legal counsel regarding a future legislative bill
- Noted underperformance of the Attucks small cap portfolio
- Reported that cost of living adjustments (COLAs) are projected for 2026
The Board of Trustees approved retirement allowances for April and updated the International Equity Manager RFP to align with Louisiana law. The board also authorized the Director to consult legal counsel regarding future legislative bills. No legislative bill will be advanced during the current session due to missed administrative deadlines.
- Approved March 19, 2025 regular meeting minutes (all in favor)
- Approved retirement allowances for April (all in favor)
- Approved adjustment to International Equity Manager RFP scope of work regarding fiduciary standard of care (all in favor)
- Approved engagement of Ms. Sullivan or other legal counsel for future legislative bill information (all in favor)
- Agreed to invite Attucks to the next meeting following small cap portfolio underperformance
Board of Trustees
The New Orleans Municipal Employees' Retirement System Board of Trustees approved July retirement allowances and received monthly reports. The board also selected four international equity RFP finalists for September presentations and registered for an upcoming LAPERS conference.
- Approved July 2025 retirement allowances
- Selected four international equity RFP finalists: Acadian Asset Management, Connor Clark & Lunn, Janus Henderson International, and Lazard Asset Management
- Registered entire board for LAPERS conference (September 7-9, 2025)
- Reviewed YTD fund performance (2.4% as of May 31, 2025)
- Awaited Attorney General’s opinion on civilian employees of police department
The Board of Trustees approved the retirement allowances for July and selected four firms to present for the International Equity RFP. The board also voted to register all members for the LAPERS annual seminar in September.
- Approved June 18, 2025 regular meeting minutes (4-0)
- Approved retirement allowances for July (4-0)
- Approved inviting Acadian Asset Management, Connor, Clark & Lunn Investment Management, Janus Henderson International, and Lazard Asset Management to present at the September meeting (4-0)
- Approved registration of the entire board for the LAPERS conference (4-0)
Board of Trustees
The Board of Trustees reviewed the annual actuarial valuation and approved contribution rates for 2026. The body also discussed investment performance and the selection process for international equity managers.
- Approved 6% employee and 15.56% employer contribution rates for 2026
- Reported actuarial value of assets increased from $486.5M to $508.4M
- Identified five firms for further due diligence regarding International Equity RFP
- Discussed a potential one-time $500 cost of living adjustment payment per retiree in 2026
- Discussed legislative proposals regarding civilian police employee enrollment exemptions
The Board of Trustees approved the 2026 contribution rates and ratified June retirement allowances. Members also identified five firms for further due diligence regarding an International Equity RFP.
- Approved 6% employee and 15.56% employer contribution rates for 2026 (unanimous)
- Approved May 21, 2025 regular meeting minutes (unanimous)
- Approved retirement allowances for June (unanimous)
- Selected Acadian Asset Management, Connor, Clark & Lunn Investment Management, Lazard Asset Management, Janus Henderson International, and SGA International for further due diligence
Board of Trustees
The Board of Trustees approved retirement allowances for May and moved funds to the reserve account. Members discussed an International Equity RFP with 51 respondents and reviewed legislative options regarding civilian police employee retirement enrollment.
- Liquidation of $5 million from Vanguard S&P 500 account to reserve account
- Approval of retirement allowances for May
- Review of 51 managers who responded to the International Equity RFP
- Discussion of legislative proposals for civilian police employee retirement exemptions
- Interview with Attucks Small Cap Manager of Emerging Managers
The Board of Trustees approved the liquidation of $5 million from the Vanguard S&P 500 account to the reserve account. The board also ratified retirement allowances for May and approved the April 16, 2025 meeting minutes.
- Approved liquidation of $5 million from Vanguard S&P 500 account to reserve account (unanimous)
- Approved retirement allowances for May (unanimous)
- Approved April 16, 2025 regular meeting minutes (unanimous)
Board of Trustees
The New Orleans Municipal Employees' Retirement System Board of Trustees approved February meeting minutes and March retirement allowances. The board also approved an RFP for an international equity manager and discussed advancing a legislative bill to exempt NOPD civilian employees from MPERS membership requirements.
- Approved March retirement allowances
- Approved RFP for international equity manager
- Discussed legislative bill to exempt NOPD civilian employees from MPERS membership
- Plan assets reported at over $500M with 2.2% YTD performance
- Next meeting scheduled for April 16, 2025 at 9:30am
The Board of Trustees approved the release of a Request for Proposals (RFP) to hire an international equity manager. The board also ratified retirement allowances for March and approved the previous meeting's minutes.
- Approved RFP for an international equity manager (3-0)
- Approved retirement allowances for March (3-0)
- Approved February 19, 2025 regular meeting minutes (3-0)
Board of Trustees
The Board of Trustees reviewed the plan's 13.1% return for 2024 and discussed a proposed bill to exempt civilian police department employees from required membership in the Municipal Police Employees’ Retirement System. The board also directed staff to draft a scope of work for a new international equity investment manager.
- Approved retirement allowances for February
- Reported 13.1% plan return for the year ending December 31, 2024
- Discussion of proposed legislation regarding civilian police employee retirement membership
- Review of Invesco’s Emerging Markets equity strategy
- Direction to draft a scope of work for an 'All Country ex U.S.' investment manager
The Board of Trustees approved retirement allowances for February and the minutes from the January 15 meeting. The board directed staff to draft a scope of work for an international equity investment manager. Trustees also discussed a proposed legislative bill regarding civilian police employee retirement membership.
- Approved January 15, 2025 regular meeting minutes (3-0)
- Approved retirement allowances for February (3-0)
- Directed staff to draft an international equity scope of work for a new manager search
Board of Trustees
The Board of Trustees for the City of New Orleans Employees' Retirement System approved new actuarial assumptions and member interest rates. The board also adopted an ADA accommodation policy and approved trustee attendance at a national conference.
- Adopted a 7% assumed rate of return effective January 1, 2025
- Applied a 2% interest rate to all eligible member contribution balances
- Approved the American with Disabilities Act (ADA) policy
- Approved Trustee Kim T. DeLarge, Sr. to attend the NCPERS 2025 Annual Conference and TEDS seminar in Denver, CO
- Ratified retirement allowances for January
The Board of Trustees approved a new actuarial assumed rate of return and set the member account interest rate. The board also adopted an ADA accommodation policy and approved trustee attendance at a national conference.
- Adopted 7% assumed rate of return and proposed actuarial assumptions (4-0)
- Applied 2% interest rate to eligible member contribution balances (4-0)
- Approved American with Disabilities Act (ADA) policy (4-0)
- Approved Trustee DeLarge's attendance at NCPERS 2025 Annual Conference and TEDS seminar (4-0)
- Approved January retirement allowances (4-0)
- Approved December 18, 2024 meeting minutes (4-0)