2017 Regular Session ENROLLED
SENATE RESOLUTION NO. 119
BY SENATOR MILKOVICH
A RESOLUTION
To commend the Louisiana Deferred Compensation Commission for posting the Louisiana
Public Employees Deferred Compensation Plan investment performance data on its
website and to encourage the commission to continue this practice.
WHEREAS, the Louisiana Public Employees Deferred Compensation Plan (Plan)
was established within the Department of the Treasury in accordance with Section 457 of
the Internal Revenue Code of 1954; and
WHEREAS, participants of the Plan make defined, before-tax contributions from
their salaries which are placed in investment accounts; and
WHEREAS, administrators of the Plan transmit the contributions on the participant's
behalf to the investment product companies selected by the participant, for the purpose of
increasing the account balance for withdrawal at a future date, usually upon retirement; and
WHEREAS, the Plan posts investment performance data and associated fees to its
website to provide participants with accurate and current information regarding its
investment portfolio; and
WHEREAS, providing investment performance data on the Louisiana Public
Employees Deferred Compensation Plan website allows members to review their investment
decisions easily and make changes based on accurate investment information.
THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
does hereby commend the Louisiana Deferred Compensation Commission for posting the
Plan's investment performance data, including associated fees, on its website and encourages
the commission to continue this practice.
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BE IT FURTHER RESOLVED that the Louisiana Deferred Compensation
Commission is urged and requested to provide the Senate Committee on Retirement and the
House Committee on Retirement with comprehensive quarterly reports detailing the amount
of funds invested, a listing of each investment and with whom, the returns on each
investment and the fees for services related to that investment for the quarter and for the plan
year to date paid by the participants and to whom paid, commencing with the quarter
beginning on July 1, 2017, and to post these reports on the Plan's website.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
Louisiana Deferred Compensation Commission.
PRESIDENT OF THE SENATE
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