ENROLLED
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Regular Session, 2011
HOUSE CONCURRENT RESOLUTI ON NO. 135
BY REPRESENTATIVE ROBIDEAUX AND SENATOR APPEL
A CONCURRENT RESOLUTI ON
To direct the Louisiana State Employees' Retirement System, the Teachers' Retirement
System of Louisiana, the Louisiana School Employees' Retirement System, and the
Louisiana State Police Pension and Retirement System to report to the House and
Senate committees on retirement and to the division of administration, prior to the
convening of the 2012 Regular Session of the Legislature, the administrative and
investment costs incurred by each system and to jointly submit a report on the
feasibility of combining the administrative and investment management services of
the systems.
WHEREAS, there exist thirteen state and statewide retirement systems in Louisiana,
four of which are state retirement systems: the Louisiana State Employees' Retirement
System (LASERS), the Teachers' Retirement System of Louisiana (TRSL), the Louisiana
School Employees' Retirement System (LSERS), and the Louisiana State Police Pension and
Retirement System (LSPRS); and
WHEREAS, employer contributions for the state retirement systems exceed more
than one billion dollars annually, a large portion of which derives from the State General
Fund and various taxes and fees levied and assessed by the state of Louisiana; and
WHEREAS, the four state retirement systems represent nearly 300,000 active and
inactive members, retirees, and beneficiaries; and
WHEREAS, LASERS and TRSL spent over $16 million and $18 million,
respectively, on administration in Fiscal Year 2010; and
WHEREAS, LASERS and TRSL spent $46 million and $34 million, respectively,
on investment management fees in Fiscal Year 2010; and
WHEREAS, the unfunded accrued liability for the state's retirement systems is now
estimated to exceed $18 billion; and ENROLLEDHCR NO. 135
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WHEREAS, pursuant to R.S. 11:263(G), the four state retirement systems are
required to report, on a quarterly basis, investment and administrative expenses to the House
and Senate committees on retirement.
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
urge and request the Louisiana State Employees' Retirement System, the Teachers'
Retirement System of Louisiana, the Louisiana School Employees' Retirement System, and
the Louisiana State Police Pension and Retirement System to continue to report to the House
and Senate committees on retirement and to the division of administration the administrative
and investment costs incurred by each system for Fiscal Year 2011 and Fiscal Year 2012 to
the extent available, pursuant to R.S. 11:263(G).
BE IT FURTHER RESOLVED that the Legislature of Louisiana does hereby direct
the Louisiana State Employees' Retirement System, the Teachers' Retirement System of
Louisiana, the Louisiana School Employees' Retirement System, and the Louisiana State
Police Pension and Retirement System to jointly submit a report on the feasibility of
combining administrative and investment management services of the systems to the House
and Senate committees on retirement and to the division of administration prior to the
convening of the 2012 Regular Session of the Legislature.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
executive directors and the boards of trustees of the Louisiana State Employees' Retirement
System, the Teachers' Retirement System of Louisiana, the Louisiana School Employees'
Retirement System, and the Louisiana State Police Pension and Retirement System.
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE