SLS 17RS-1922 ORIGINAL
2017 Regular Session
SENATE RESOLUTION NO. 119
BY SENATOR MILKOVICH
DEFERRED COMPENSATION. Commends the La. Deferred Compensation Commission
for posting the plan's investment performance data on its website and encourages the
commission to continue this practice.
1 A RESOLUTION
2 To commend the Louisiana Deferred Compensation Commission for posting the Louisiana
3 Public Employees Deferred Compensation Plan investment performance data on its
4 website and to encourage the commission to continue this practice.
5 WHEREAS, the Louisiana Public Employees Deferred Compensation Plan (Plan)
6 was established within the Department of the Treasury in accordance with Section 457 of
7 the Internal Revenue Code of 1954; and
8 WHEREAS, participants of the Plan make defined, before-tax contributions from
9 their salaries which are placed in investment accounts; and
10 WHEREAS, administrators of the Plan transmit the contributions on the participant's
11 behalf to the investment product companies selected by the participant, for the purpose of
12 increasing the account balance for withdrawal at a future date, usually upon retirement; and
13 WHEREAS, the Plan posts investment performance data and associated fees to its
14 website to provide participants with accurate and current information regarding its
15 investment portfolio; and
16 WHEREAS, providing investment performance data on the Louisiana Public
17 Employees Deferred Compensation Plan website allows members to review their investment
18 decisions easily and make changes based on accurate investment information.
Page 1 of 2 SR NO. 119
SLS 17RS-1922 ORIGINAL
1 THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
2 does hereby commend the Louisiana Deferred Compensation Commission for posting the
3 Plan's investment performance data, including associated fees, on its website and encourages
4 the commission to continue this practice.
5 BE IT FURTHER RESOLVED that the Louisiana Deferred Compensation
6 Commission is urged and requested to provide the Senate Committee on Retirement and the
7 House Committee on Retirement with comprehensive quarterly reports detailing the amount
8 of funds invested, a listing of each investment and with whom, the returns on each
9 investment and the fees for services related to that investment for the quarter and for the plan
10 year to date paid by the participants and to whom paid, commencing with the quarter
11 beginning on July 1, 2017, and to post these reports on the Plan's website.
12 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
13 Louisiana Deferred Compensation Commission.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by LG Sullivan.
DIGEST
SR 119 Original 2017 Regular Session Milkovich
Commends the La. Deferred Compensation Commission for posting the La. Public
Employees Deferred Compensation Plan investment performance data on its website and
encourages the commission to continue this practice.
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