Louisiana State Employees Retirement System

LASERS will be closed on Thursday, July 4 and Friday, July 5 for Independence Day. Regular business hours will resume on Monday, July 8.

Happy 4th of July! 🗽🎆

We would like to recognize members of our staff who have given 10 and 20 years of service to LASERS and our members!

1️⃣0️⃣ Years of Service:
Amy Canella
Megan Jones
Brittany Reed
Angela Roan
Emily Woerner

2️⃣0️⃣ Years of Service:
Ginna Aker
Barney Miller
Eric Schoonmaker

Thank you for your hard work and dedication to the LASERS mission throughout the years! 🎉👏

The Government Finance Officers Association of the United States and Canada (GFOA) recently recognized LASERS for exemplary financial reporting for the fiscal year ended June 30, 2023.

For the 27th consecutive year, GFOA has awarded LASERS the Certificate of Achievement for Excellence in Financial Reporting for our Annual Comprehensive Financial report (ACFR). This is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

For the 25th consecutive year, LASERS also received the Outstanding Achievement in Popular Annual Financial Reporting (PAFR Award) for its Summary Annual Report. The report presents some of the major financial, actuarial, and other interesting information for the reporting year.

The recognition from GFOA underscores LASERS dedication to transparent, clear, and responsible financial reporting and communication.

Both reports are available on our website here > https://bit.ly/3sUly5a

Congratulations to our Fiscal and Public Information staff for their exemplary work on these reports!

The National Association of Government Communicators (NAGC) recently recognized the 2023 Annual Investment Report and the LASERS Benefits Louisiana Report in the 2024 Blue Pencil and Gold Screen Awards in the Technical/Statistical Report category.

These achievements reflect the collaborative efforts of our Public Information, Investments, Fiscal, and Executive teams.

Recognition from the NAGC highlights our commitment to producing high quality and impactful reports.

Read the reports here ➡️ https://bit.ly/3z8dwff

LASERS will be closed on Wednesday, June 19 for Juneteenth. Normal business hours will resume on Thursday, June 20.

🚨 Retirees and Benefit Recipients:

Since June 1 falls on a Saturday, receipt of your funds can be affected by whether you receive a check or direct deposit and your financial institution’s rules when the first falls on a weekend and/or holiday.

Direct Deposits are guaranteed to be in your bank or credit union on the first day of the month. When the first falls on a Saturday, Sunday, or holiday, funds may not be available until the following business day. In these cases, please contact your financial institution directly for information on when your funds will be made available to you. That decision is made by your financial institution, not LASERS.

If you have not received your direct deposit by the first business day of the month, please contact LASERS at 225.922.0600 or toll-free at 800.256.3000.

Learn more � https://bit.ly/2FZaley

� SB 1 by Sen. Price was signed by the Governor and is now Act 46. This bill specified, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required. The LASERS Board supported this bill.

� HB 30 by Rep. Bagley was reported favorably as amended in the House Appropriations Committee, however, it failed to pass on the House Floor twice this week. This bill permits any rank-and-file member, regardless of age or first date of employment, to retire with 30 years of service credit (as amended). The LASERS Board supports HB 30.

� HB 981 by Rep. Melerine was deferred in the Senate Retirement Committee. HB 981 would add new restrictions related to proxy voting on shareholder-sponsored proposals and adds new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.

� HB 782 by Rep. McFarland was reported favorably as amended in Senate Finance. HB 782 would make supplemental appropriations for Fiscal Year 2023-2024 and allocate an additional $9.9 million to LASERS to apply to the balance of the initial unfunded accrued liability (IUAL). The LASERS Board supports this bill.

� SB 462 by Sen. Hodges was amended and moved favorably in the House and Governmental Affairs Committee. The bill originally permitted the Governor to elect and appoint the chairman or any other officer of each state board and commission. The bill now only applies to those boards where a majority of the members are appointed by the Governor. The LASERS Board opposes this bill.

New Study & Resolution Added to Tracking List

� House Study Resolution 4 (HSR 4) by Sen. Riser has been added to our tracking list. It requests the House Committee on Retirement to study the benefits available to beneficiaries of a member of a state retirement system killed in the line of duty by an intentional act of violence and to report its findings to the full House of Representatives prior to the convening of the 2025 Regular Session. HSR 4, which does not require committee discussion, was approved by the House of Representatives.

� House Resolution 267 (HR 267) by Rep. Melerine requests state retirement systems to submit reports regarding procedures for proxy voting. It was discharged from the House Retirement Committee and is pending final passage in the House.

For in-depth details of legislation, visit the Louisiana State Legislature website at https://bit.ly/4aF5VCL.

LASERS will be closed on Monday, May 27 for Memorial Day. Regular business hours will resume on Tuesday, May 28.

HB 30 by Rep. Bagley is scheduled to be heard in the House Appropriations Committee on Monday, May 20 at 9:00 a.m. This bill permits any rank-and-file member, regardless of age or first date of employment, to retire with 27 years of service credit. The LASERS Board is neutral on HB 30.

HB 981 by Rep. Melerine is scheduled to be heard in the Senate Retirement Committee on Monday, May 20 at 10:00 a.m. HB 981 adds new restrictions related to proxy voting on shareholder-sponsored proposals and adds new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.

Several other retirement measures are making their way through the legislative process. Review our tracking list here to check the status of each bill > https://bit.ly/3Ihc3Va

For in-depth details of legislation and links to watch the meetings live, visit the Louisiana State Legislature website at https://bit.ly/4aF5VCL. Please note that meeting schedules and agendas are subject to change.

🌹Happy Mother's Day from LASERS!🌼

📢 Bills Moving Through the Legislative Process

🟦 HB 800 by Rep. Beaullieu was amended and passed on the House Floor. HB 800 calls for a constitutional convention and requires the convention to complete a new constitution. One amendment added the constitutional provisions relative to LASERS to the list of "protected" provisions. Another amendment changed the timing of the convention.

🟦 HB 902 by Rep. Melerine is now HB 981. The bill was amended and passed on the House Floor. It awaits consideration in the Senate. HB 981 adds new restrictions related to proxy voting on shareholder-sponsored proposals and adds new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.

🟦 SB 462 by Sen. Hodges was amended and passed on the Senate Floor. The bill originally permitted the Governor to elect and appoint the chairman or any other officer of each state board and commission, which included LASERS. However, the bill was amended to remove the Governor's authority to appoint chairs of retirement system boards.

📢 SB 1 and HCR 20 Receive Final Passage

🟦 SB 1 by Sen. Price received final passage on the House Floor and awaits the Governor's signature. SB 1 specifies, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required. The LASERS Board supports this bill.

🟦 HCR 20 received final passage on the Senate Floor and does not require the Governor's signature. HCR 20 by Rep. Johnson memorializes Congress to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) by supporting H.R. 82 and S. 597 of the 118th Congress. Similar resolutions have passed in previous sessions. The LASERS Board supports HCR 20. Learn more here ➡ https://bit.ly/2Xvx3Pb

📢 Awaiting Consideration

🟦 HB 30 by Rep. Bagley awaits consideration in House Appropriations. This bill permits any rank-and-file member, regardless of age or first date of employment, to retire with 27 years of service credit. The LASERS Board is neutral on HB 30.

🟦 HB 782 by Rep. McFarland awaits consideration in Senate Finance. HB 782 would make supplemental appropriations for Fiscal Year 2023-2024 and allocate an additional $9.9 million to LASERS to apply to the balance of the initial unfunded accrued liability (IUAL). The LASERS Board supports this bill.

For in-depth details of legislation and links to watch the meetings live, visit the Louisiana State Legislature website at https://bit.ly/4aF5VCL. Please note that meeting schedules and agendas are subject to change.

📢 SB 1 by Sen. Price passed on the House Floor. SB 1 specifies, that for transfers between systems, “employer contributions” are defined as only those employer contributions that are actuarially required. The LASERS Board supports this bill.

📢 HB 30 by Rep. Bagley was amended and reported favorably in the House Retirement Committee. This bill permits any rank-and-file member, regardless of age or first date of employment, to retire with 27 years of service credit. The amendment changed eligibility from 25 years to 27 years of service credit. The LASERS Board is neutral on HB 30.

📢 HB 902 by Rep. Melerine was reported by substitute in the House Retirement Committee. The substitute bill adds new restrictions related to proxy voting on shareholder-sponsored proposals and adds new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.

📢 HCR 20 was reported favorably in the Senate Retirement and is scheduled for consideration on the Senate Floor on Monday, May 6. HCR 20 by Rep. Johnson memorializes Congress to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) by supporting H.R. 82 and S. 597 of the 118th Congress. Similar resolutions have passed in previous sessions. The LASERS Board supports HCR 20. Learn more here ➡ https://bit.ly/2Xvx3Pb

📢 LASERS is also tracking HB 800 by Rep. Beaullieu, which calls for a constitutional convention to convene on May 20, 2024, and requires the convention to complete a new constitution by June 3, 2024, with the potential for an extension to July 15, 2024. HB 800 was amended on the House Floor, returned to the calendar, and is scheduled for debate on Tuesday, May 7.

For in-depth details of legislation and links to watch the meetings live, visit the Louisiana State Legislature website at https://bit.ly/4aF5VCL. Please note that meeting schedules and agendas are subject to change.

📢 HB 782 by Rep. McFarland was amended and reported favorably in the House Appropriations Committee and passed on the House Floor this week. It now heads to the Senate for consideration. HB 782 would make supplemental appropriations for Fiscal Year 2023-2024 and allocate an additional $9.9 million to LASERS to apply to the balance of the initial unfunded accrued liability (IUAL). The LASERS Board supports this bill.

📢 The Senate Retirement Committee will discuss HCR 20 on Monday, April 29 at 10:00 a.m. HCR 20 by Rep. Johnson memorializes Congress to review and eliminate the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) by supporting H.R. 82 and S. 597 of the 118th Congress. Similar resolutions have passed in previous sessions. The LASERS Board supports HCR 20.

Learn more here >> https://bit.ly/2Xvx3Pb

📢 The House Retirement Committee will consider HB 30 and HB 902 on Wednesday, May 1 at 9:30 a.m.

HB 30 by Rep. Bagley permits any rank-and-file member, regardless of age or first date of employment, to retire with 25 years of service credit. The LASERS Board is neutral on HB 30.

HB 902 by Rep. Melerine was amended by substitute in a previous committee meeting. The substitute bill would add new restrictions related to proxy voting on shareholder-sponsored proposals and add new duties and liability to proxy advisory firms working with Louisiana retirement systems. The LASERS Board opposes this bill.

For in-depth details of legislation and links to watch the meetings live, visit the Louisiana State Legislature website at https://bit.ly/4aF5VCL. Please note that meeting schedules and agendas are subject to change.