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Retirement Manual - Administration

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Webster Parish Clerk of Court

Hon Holli Vining

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Clerks' Association

Board of Trustees Membership Information Active Members Information Regular/DROP Benefits Retirement Manual Retirement Forms

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Board Of Trustees; Membership; Officers; Vacancies – (See R. S. 11:1541)

The board of trustees is composed of eleven members all of whom, except the designated ex officio members, must have credit in the system for at least five years of service.  The president of the Louisiana Clerks of Court Association acts as the president of the board, the first vice president of the association acts as the vice president of the board, and the treasurer of the association acts as the treasurer of the board.  The board is further composed of the second vice president of the association, the immediate past president of the Louisiana Clerks of Court Association, a retired clerk of court who is receiving regular or disability retirement benefits and is elected by the association to serve a two year term on the board, and three of the directors of the association who are elected to the board by the association to serve five year terms.  The chairman of the House Committee on Retirement and the chairman of the Senate Committee on Retirement or their authorized designees also serve as ex officio voting members of the board of trustees.  Any vacancy on the board will be filled by an election by the board of directors of the Louisiana Clerks of Court Association within sixty days of the creation of the vacancy.

Board of Trustees; Powers and Duties – (See R. S. 11: 1542)

The board has the following powers and duties in administering the system:

  1. To carry a blanket fidelity insurance policy covering all officers and employees who handle the money or securities of the fund in the amount of five hundred thousand dollars, and to pay the premiums for the policy from board funds.
  2. To manage and control the funds of the system, to draw sums of money from its treasury, and to invest such sums in the name of the fund in accordance with the section titled “Fiduciary and Investment Responsibilities.”
  3. To deposit all money received by the system in the bank or banks of its selection, provided the deposits are secured by the federal insurance plan.
  4. To appoint a secretary and other employees of the fund, to define and designate their powers and duties, and to determine and pay salaries as compensation for such services, which will be paid from system monies.
  5. To adopt such mortality, actuarial, and other tables necessary for the proper administration and management of the fund.
  6. To formulate, establish, promulgate, make, alter, and amend any and all rules and regulations necessary, desirable, or required for the establishment, maintenance, and administration of the system and to facilitate the proper functioning of the system and the transaction of its business
  7. To determine all questions of coverage and qualifications as to participation in and receipt of benefits from the system.
  8. To construe and administer the provisions of laws applicable to the Clerks’ of Court Retirement and Relief Fund.
  9. To authorize or suspend the payment of any benefit in accordance with law.
  10. To compel witnesses to attend meetings and to testify on any matter concerning the system.
  11. To hear appeals from persons who claim their rights under the laws or the rules of the system have been violated and to issue appropriate orders in such cases.
  12. To obtain by employment or by contract actuarial services, investment counsel, legal services and counsel, and medical, clerical, or other services as may be required for the efficient management and administration of the system and to determine the rate of pay or compensation from system monies for such services.
  13. To request such information from any member, former member, beneficiary, or clerk as is necessary for the proper operation of the system.
  14. To establish an office or offices with suitable space for meetings of the board and for use by system personnel, including furnishing such office or offices as necessary.  Unless otherwise designated by the board, the office will hold all of the system’s books and records.
  15. To determine the limitations on the amount of cash to be invested in order to maintain such cash balances as may be deemed advisable to meet current requirements, to invest the available cash within these limits, and to buy and sell securities for investment.
  16. To keep cash available on deposit in one or more banks or trust companies of the state of Louisiana organized under the laws of the state of Louisiana or of the United States for the purpose of making disbursements for pensions, annuities, and other payments.
  17. To keep in convenient form the data necessary for all required calculations and valuations as required by the actuary.
  18. To keep a permanent record of all the proceedings of the board and such other records as shall be necessary or desirable for administration of the system.
  19. To appoint committees of at least four trustees to perform such functions as may be directed by the board.
  20. To perform any other reasonable activities which are necessary for carrying out the intent of the system in accordance with the provisions of law.
  21. The board of trustees must establish an Investment Advisory Subcommittee, composed of at least four board members, which is responsible to monitor the investment of system assets, including the rate of return, and make such reports and recommendations regarding those investments as requested by the board.
  22. To meet at least quarterly but not more than six times per year.  

Board of Trustees; Oath of Office – (See R. S. 11:1543)

Each trustee must take an oath of office that he will diligently and honestly administer the affairs of the board.  The oath must take place no later than the first board meeting following his election or appointment.  As a part of such oath, he must state that he will not knowingly or willingly permit any provision of law applicable to the system to be violated.  Such oath shall be subscribed to by the member, certified by a board officer, and immediately filed with the secretary of state.  

Board of Trustees; Voting – (See R. S. 11:1544)

Each trustee shall be entitled to one vote on any and all actions before the board, with a majority of concurring votes being required for every decision or action by the board at any of its meetings.  No decision or action shall become effective unless presented and so approved at a regular or duly called special meeting of the board.  

Board of trustees; custodian of fund; investment of fund – (See R. S. 11:1545)

The board shall be the custodian and the trustees of the fund and all system monies shall be held in trust or invested for the exclusive benefit of system members and beneficiaries, present and future.  The board may invest and reinvest system monies and may hold, purchase, sell, assign, and transfer and dispose of any of the securities, assets, and investments of the system as well as the proceeds of the investments and any other monies belonging to the system in accordance with the provisions of R.S. 11:263.  All interest earned on any fund bank deposits, securities, or any and all other fund investments and assets shall belong to and constitute a part of the fund.  No system monies may be deposited or invested unless such is authorized by the board.  

Private interest of trustees and employees in financial operation of system prohibited – (See R. S. 11:1546)
 
No trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his service other than reimbursement of expenses.  

Secretary of the Board – (See R. S. 11:1547)

The secretary maintains a full and complete record of all proceedings of the board, particularly with reference to the investment of funds belonging to the fund.  The secretary files and keeps all correspondence of the board, keeps minutes of all its meetings, and performs other duties as may be assigned by the board, including the preparation of warrants for the various disbursements from the fund and the keeping of an accurate record thereof.

The secretary maintains a record of each member and former member of the fund which contains the member's or former member's name, age, date of membership in the fund, date of entry into the service of a clerk of court's office, monthly wage, monthly contributions to the fund, marital status, name and age of spouse, if any, name and date of birth of all minor children, if any, all interruptions of service in a clerk of court's office and the causes thereof, whether by injury, illness, leave of absence agreed to in writing by the clerk of court and the employee, or by voluntary resignation and reappointment, and other information necessary to the proper administration of the fund.

The secretary maintains a list of all retirees and other beneficiaries of the fund which includes the amount of the benefit being paid to each retiree or other beneficiary.  

The secretary is required to file a report with the president and all members of the Louisiana Clerks of Court Association at least once a year, which includes a list of all retirees and other beneficiaries of the fund and a summary of the audit of the fund's accounts made by an accountant selected by the board.  

Each clerk of court must furnish to the secretary an initial record of all his employees, including himself, who become members of the fund, not later than the date upon which each such member's first contribution to the fund is remitted to the secretary.  This record must provide the name, date of membership in the system and date of entry into the service of a clerk of court's office, monthly wage, monthly contributions to the fund, marital status, name and age of spouse, if any, and name and date of birth of all minor children, if any, a statement of all prior creditable service of such member, and any other information necessary to the proper administration of the fund.  The record must be signed by the clerk of court and approved in writing by the employee.  When filed with the secretary, this record, if it includes claims of prior creditable service, will be subject to change that increases such prior creditable service only with approval of the board and upon such terms as the board may stipulate.  Each clerk of court must, upon the written request of the secretary, furnish such information regarding himself, his deputies, and employees as relates to any of the facts required to be disclosed by the initial record, whether the information sought relates to the initial record or to a subsequent change of circumstances.  Each deputy clerk and employee of a clerk of court must, upon the written request of the secretary, furnish such information regarding himself/herself as shall relate to any of the facts required to be disclosed by the initial record or to a subsequent change of circumstances.  

Composition of Governing Boards of Statewide Systems; Per Diem and Expenses – (See R. S. 11:181)

The chairman of the House Committee on Retirement and the chairman of the Senate Committee on Retirement, or their designees serve as voting ex officio members of the fund.  A majority of members of the board is required to constitute a quorum necessary for meetings unless a greater number is specified by statute.  Each trustee serves without compensation but is paid for attendance at meetings of the Board, as provided by R.S. 11:181, a per diem of seventy-five dollars per day plus the normal expense allowance allowed state employees by the division of administration, provided funds are available for this purpose.  There can be no per diem payment for those meetings in excess of the number allowed by law (as found in R. S. 11:1542(22)).

The chairmen of the House and Senate Committees on Retirement, or their designees if members of the legislature, receive the same per diem and expenses for attendance at meetings of the Board of Trustees as they receive for attendance at legislative committee meetings, and from the same sources.

Boards of Trustees of State and Statewide Public Retirement Systems;Per Diem and Expenses – (See R. S. 11:182)

Members of the Board of Trustees shall receive for attendance at meetings of the board a per diem of seventy­-five dollars per meeting plus the normal expense allowance, provided funds are available for this purpose.

If more than one board meeting occurs during any seven calendar day period, members shall receive per diems only for such board meetings which exceed three hours in duration. However, at least one per diem shall be paid for such seven calendar day period in which there occurs at least one board meeting. No more than one per diem shall be paid for more than one board meeting in one calendar day. Mileage expenses for attendance at board meetings shall not be allowed when travel to such meetings takes place in a governmentally owned vehicle, nor shall more than one member be reimbursed for mileage when more than one member travels to a board meeting in the same vehicle.
The board shall receive per diem for each meeting required by law. There shall be no such per diem payments for those meetings above and beyond the number required by law.

Board Members Subject to Code of Governmental Ethics – (See R. S. 11:183)

Any member of a state or statewide retirement system board of trustees who does not hold an office by virtue of an election conducted pursuant to the Louisiana Election Code shall be deemed a public employee for purposes of compliance with Chapter 15 of Title 42 of the Louisiana Revised Statutes of 1950.

Meetings of State and Statewide Retirement Boards and Committees –(See R. S. 11:184)

By December first of each calendar year, the board of trustees of each state and statewide retirement system must submit to the House and Senate committees on retirement a proposed schedule of all board and committee meetings for the following calendar year.  The proposed schedule is subject to review by the committees, and the chairman of either committee may request changes in the proposed schedule of any system in order to avoid conflicting meetings or for any other purpose.

Educational Requirements for Members of the Board of Trustees – (See R. S. 11:185)

Members of the Board of Trustees must complete continuing education or professional development training in each twelve-month period from September 1st through the next August 31st.  By October 15th of each year, the Board of Trustees must submit a letter to the House and Senate Committees on Retirement stating whether or not each board member has or has not met the requirements of this section for the previous year and giving the dates upon which the required training hours were completed by each member.

The annual training requirement for each board member includes at least eight hours of education on investment topics, at least two hours of training on actuarial science, at least one hour of education on the laws, rules, and regulations applicable to the retirement system, and one hour of instruction on fiduciary duties and ethics. 

In order to vote and receive per diem payments, a board member must have completed the fiduciary and ethics requirements, and at least one hour each of investment, actuarial science, and legal education in the current twelve-month cycle. The system must submit evidence of this training to the speaker of the House of Representatives and the president of the Senate within fourteen days after the completion of the training.

In addition, no new board member may vote on any matter until he has completed one hour of education in each of the four required areas.

Legal Counsel, Certified Public Accountants, Professional Investment Personnel – (See R. S. 11:251)

Notwithstanding any other provisions of law to the contrary, the Board is hereby authorized to either employ or appoint at their own cost and expense legal counsel, certified public accountants, and professional investment personnel who are full-time in-house staff members with membership in the Fund and participation in health benefits, or to retain legal counsel to represent the system who will not be a member of the Fund.

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