Hon Holli Vining
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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.
The board has the following powers and duties in administering the system:
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.
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.
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)
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.
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.
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.
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.
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.
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.
Louisiana Clerks of Court Association
10202 Jefferson Highway, Building A
Baton Rouge, LA 70809
(800) 256-6660 or (225) 293-1162