Friday, January 23, 2015

LASERS Board Elects New Chair and Vice Chair

The LASERS Board of Trustees unanimously elected Thomas Bickham and Janice Lansing as new Chair and Vice Chair, respectively, at its January meeting. The 13-member policy-making Board of Trustees has fiduciary oversight over LASERS.

Thomas Bickham, Undersecretary of the Department of Public Safety and Corrections, will lead the LASERS Board as Chair. Bickham has served as an active member Trustee since 2012. He most recently chaired the Management Committee of the LASERS Board.

Janice Lansing, Chief Financial Officer of the Coastal Protection and Restoration Authority, will serve as the new Vice Chair. Lansing has served as an active member Trustee since 2010. She most recently chaired the Investment Committee of the LASERS Board.

LASERS Executive Director Cindy Rougeou said, “Under the leadership of Thomas Bickham and Janice Lansing, we will continue to serve our members well in 2015 and ensure that LASERS Benefits Louisiana.”

Monday, January 12, 2015

LASERS Annual Statements Geaux Paperless

As part of the LASERS Geaux Green initiative, active members now have the option to receive paperless Annual Statements through Self-Service. Members who choose to receive their Annual Statement via Self-Service only, will no longer be mailed a paper copy.

Sign up by February 15 to opt-in to paperless. A member will help LASERS save $0.74 per statement or about $50 during their career by "geauxing" green.

To sign-up for Paperless Annual Statements:

1. Log on to Member Self-Service.
2. Select Paperless Settings.
3. Choose "online only."
4. Click Save.

When Annual Statements are ready, an email will be sent notifying members that statements are available online. 

Click the video below to watch step-by-step instructions on selecting Paperless Annual Statements.

Wednesday, December 17, 2014

CR-Omnibus Bill Does Not Apply to LASERS

The recent passage in Congress of H.R. 83, the Consolidated and Further Continuing Appropriations Act of 2015 (also known as the CR-Omnibus bill) has been in the news. Reports of this federal law often mention a provision which allows some pension systems to pay benefits at a level lower than originally intended. These provisions do not apply to LASERS or other public sector pension plans. Your LASERS retirement benefit is guaranteed by the Louisiana constitution and is unaffected by this law.

For more information about H.R. 83, visit the U.S. House of Representatives Committee on Appropriations website.

Thursday, December 4, 2014

Moody's Report on State Pensions Finds Improvement

More than half of the 50 US states experienced marginal declines in their fiscal 2013 Moody's adjusted net pension liability (ANPL), a measure that adjusts reported liabilities by discounting at a bond market interest rate and making estimated allocations of multiple-employer cost-sharing plans. ANPLs improved for states that conducted 2013 pension valuations due to favorable investment returns for the year.

The Moody's report contains an analysis of changes in state pension liability levels, and charts and tables ranking states based on various factors. 

Monday, December 1, 2014

LASERS Awarded for 11th Straight Year

From The Advocate: 

The Louisiana State Employees Retirement System received the 2014 Public Pension Standard Award for the 11th consecutive year. The award for plan funding and administration excellence is presented by the Public Pension Coordinating Council.

LASERS Executive Director Cindy Rougeou said the award is “another example of how LASERS benefits Louisiana.”

LASERS administers a defined benefit pension plan that covers approximately 150,000 members. It pays more than $1 billion in annual benefits to retirees and their beneficiaries.