HLS 11RS-701 ORIGINAL
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Regular Session, 2011
HOUSE CONCURRENT RESOLUTI ON NO. 135
BY REPRESENTATIVE ROBIDEAUX
RETIREMENT/STATE SYSTEMS: Directs the La. State Employees' Retirement System,
the Teachers' Retirement System of La., the La. School Employees' Retirement
System, and the La. State Police Pension and Retirement System to report specified
information to the House and Senate Committees on Retirement
A CONCURRENT RESOLUTI ON1
To direct the Louisiana State Employees' Retirement System, the Teachers' Retirement2
System of Louisiana, the Louisiana School Employees' Retirement System, and the3
Louisiana State Police Pension and Retirement System to report to the House and4
Senate Committees on Retirement, prior to the convening of the 2012 Regular5
Session of the Legislature, the administrative and investment costs incurred by each6
system and to jointly submit a report on the feasibility of combining the7
administrative and investment management services of the systems.8
WHEREAS, there exist thirteen state and statewide retirement systems in Louisiana,9
four of which are state retirement systems: the Louisiana State Employees ' Retirement10
System (LASERS), the Teachers' Retirement System of Louisiana (TRSL), the Louisiana11
School Employees' Retirement System (LSERS), and the Louisiana State Police Pension and12
Retirement System (LSPRS); and13
WHEREAS, employer contributions for the above-named state retirement systems14
cost taxpayers more than one billion dollars annually, a large portion of which derives from15
the State General Fund and various taxes and fees levied and assessed on the taxpayers of16
Louisiana; and17
WHEREAS, the four state retirement systems represent 176,396 active and inactive18
members; and19 HLS 11RS-701 ORIGINAL
HCR NO. 135
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WHEREAS, LASERS and TRSL spent over $16 million and $18 million,1
respectively, on administration in Fiscal Year 2010; and2
WHEREAS, LASERS and TRSL spent $46 million and $34 million, respectively,3
on investment management fees in Fiscal Year 2010; and4
WHEREAS, the Unfunded Accrued Liability for the state's retirement systems is now5
estimated to exceed $18 billion; and6
WHEREAS, pursuant to R.S. 11:263(G), the four state retirement systems are7
required to report, on a quarterly basis, investment and administrative expenses to the House8
and Senate Committees on Retirement. 9
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby10
direct the Louisiana State Employees' Retirement System, the Teachers' Retirement System11
of Louisiana, the Louisiana School Employees' Retirement System, and the Louisiana State12
Police Pension and Retirement System to report to the House and Senate Committees on13
Retirement, prior to the convening of the 2012 Regular Session of the Legislature, the14
administrative and investment costs incurred by each system for FY 2011 and FY 2012 to15
the extent available, pursuant to R.S. 11:263(G).16
BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby direct17
the Louisiana State Employees' Retirement System, the Teachers' Retirement System of18
Louisiana, the Louisiana School Employees' Retirement System, and the Louisiana State19
Police Pension and Retirement System to jointly submit a report on the feasibility of20
combining administrative and investment management services of the systems to the House21
and Senate Committees on Retirement prior to the convening of the 2012 Regular Session22
of the Legislature.23
BE IT FURTHER RESOLVED that a suitable copy of this Resolution be transmitted24
to the executive directors and the boards of trustees of the Louisiana State Employees'25
Retirement System, the Teachers' Retirement System of Louisiana, the Louisiana School26
Employees' Retirement System, and the Louisiana State Police Pension and Retirement27
System.28 HLS 11RS-701 ORIGINAL
HCR NO. 135
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DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Robideaux HCR No. 135
Directs the La. State Employees' Retirement System, the Teachers' Retirement System of
La., the La. School Employees' Retirement System, and the La. State Police Pension and
Retirement System to report to the House and Senate Committees on Retirement, prior to
the convening of the 2012 Regular Session of the Legislature, the administrative and
investment costs incurred by each system and to submit a report on the feasibility of
combining the administrative and investment management services of the systems.