2023 Louisiana Laws › Revised Statutes › Title 11 - Consolidated Public Retirement › §11:2173. Board of trustees; executive counsel; educational requirements

RS 11:2173 - Board of trustees; executive counsel; educational requirements
A. The board of trustees shall consist of sixteen voting members as follows:
(1) One member, who shall be an active or retired sheriff, and shall be elected by the members of the Louisiana Sheriffs' Association as president, for a term of three years from the date of taking office. A vacancy shall be filled in the same manner. Reelection shall be permissible.
(2) Three members, who shall be active participating sheriff members of the fund, shall be appointed for three year terms by the Louisiana Sheriffs' Association by elections held during annual general membership meetings. One member shall be elected at each meeting. A vacancy, other than for the expiration of a term, shall be filled, with a member possessing the same qualifications, for the remainder of the term by the executive board of the Louisiana Sheriffs' Association. Reelection shall be permissible.
(3) Three members, who shall be former sheriffs who are recipients of either a service or disability retirement benefit from the fund, shall be appointed for three year terms by the Louisiana Sheriffs' Association by elections held during annual general membership meetings. One member shall be elected at each meeting. A vacancy, other than for the expiration of a term, shall be filled, with a member possessing the same qualifications, for the remainder of the term by the executive board of the Louisiana Sheriffs' Association. Reelection shall be permissible.
(4) Three voting members who shall be active full-time deputy sheriffs who are participating members of the fund. A member who has completed a term of office shall be eligible for reelection.
(5) Three voting members who shall be retired deputy sheriffs who are recipients of either a service or disability retirement benefit from the fund. A member who has completed a term of office shall be eligible for reelection.
(6) Beginning in 2013, following the assumption of office of members set forth in Paragraphs (1) through (5) of this Subsection, one member, who shall be an active sheriff who is a participating member of the fund or a former sheriff who has retired and is a recipient of the fund, shall be elected by the members of the Louisiana Sheriffs' Association. Beginning in 2014, the person so elected shall be designated as vice president. The term of office of the person elected in 2013 shall be two years ending in 2015. In 2015, and every three years thereafter, the person so elected shall have a term of office of three years.
(7) A member of the House Committee on Retirement appointed by the speaker of the House of Representatives, or the member's designee.
(8) The chairman of the Senate Committee on Retirement, ex officio, or his designee.
B. An executive counsel shall be selected jointly by the board of trustees and the executive board of the Louisiana Sheriffs' Association.
C.(1) All candidates for service on the board of trustees shall have completed the following educational requirements prior to participating in the election or appointment process, as the case may be, in order to serve as a trustee for the fund:
(a) Two hours of education relative to the law, rules, and regulations applicable to the fund, including information regarding the funding of the system.
(b) One hour of fiduciary duty and ethics education.
(c) One hour of education relative to actuarial science and information.
(d) Four hours of professional development in investment strategies.
(2) All such training sessions shall be conducted by the fund, and the fund shall be responsible for the costs for such training sessions. Participating members shall be responsible for travel costs to and from such training sessions. All training sessions shall be conducted at the office of the fund or at the annual Louisiana Sheriffs' Association conference. Training sessions conducted at such conference shall additionally be offered at the office of the fund.
(3) Completion of the advance educational requirements prescribed in this Subsection shall serve to satisfy the requirements of R.S. 11:185(C)(5) that no new board member shall vote on any matter until he has completed one hour of education in each of the required areas prescribed by R.S. 11:185.
Amended by Acts 1954, No. 239, §1; Acts 1958, No. 173, §1; Acts 1987, No. 52, §1; Acts 1988, No. 925, §1; Acts 1991, No. 61, §1, eff. July 1, 1991; Redesignated from R.S. 33:1452 by Acts 1991, No. 74, §§3, 5, eff. June 25, 1991; Acts 1995, No. 144, §1, eff. July 1, 1995; Acts 1997, No. 359, §1, eff. June 20, 1997; Acts 1997, No. 1276, §1; Acts 2007, No. 78, §1; Acts 2014, No. 679, §1, eff. June 30, 2014; Acts 2016, No. 621, §1, eff. June 17, 2016.