ROY B. SCHAEFER, JR.

LASERS’ third executive director, Roy B. Schaefer, Jr., led the retirement system from 1965 to 1977.

His 12 years as director helped shape the future of LASERS and sparked a lifelong commitment to protecting retirement security for Louisiana’s state employees.

A native of New Orleans, Schaefer began his public service career with the Port Commission of the Port of New Orleans, where he served for six years as chief accountant and assistant controller. He later worked as executive assistant and controller for the Wildlife and Fisheries Commission in New Orleans. During his time in both agencies, he played a key role in establishing employee credit unions.

In 1964, Schaefer moved to Baton Rouge to accept the position of special assistant to the LASERS Board of Trustees. In January 1965, the Board selected him to succeed retiring executive director Pierre J. Becker.

At the time of his appointment, LASERS Board Chairman Winborn E. Davis stated:

“The retirement system is fortunate to obtain the services of a person with Mr. Schaefer’s ability and experience. He is a career civil servant with extensive experience in administration and accounting and is well qualified to direct the System, which now has more than 35,000 active members.”

Schaefer studied accounting and business management at several universities, including Loyola University New Orleans.

During Schaefer’s tenure, LASERS experienced several important milestones. The System published its first member newsletter, Retirement Topics; expanded its investment portfolio to include certificates of deposit, corporate bonds, equities, and high-yield bonds; provided the first cost-of-living adjustment (COLA) to eligible retirees; and secured special retirement eligibility for law enforcement agents.

His leadership extended beyond Louisiana. Schaefer was active in the National Association of State Retirement Administrators (NASRA) and later served as president of the organization.

Although he retired from LASERS in 1977, Schaefer remained deeply involved in retirement and public service issues. In 1988, retirees elected him to serve on the LASERS Board of Trustees. He also served as an ex officio member of the RSEA Board of Directors.

In addition to his retirement work, Schaefer was chairman of the board of the Louisiana League Central Credit Union and served on the board of La Capitol Federal Credit Union from 1972 until his death in 1993.

Schaefer’s life was defined by service. A World War II veteran, he served on active duty in the U.S. Army Air Forces from 1941 to 1946. He later commanded an intelligence unit in the U.S. Air Force Reserves and retired with the rank of full colonel after 26 years of military service. Schaefer often credited his military experience with shaping his leadership and management style.

Reflecting on his father’s dedication to public service, his son, Gary Schaefer, said:

“He was one of the most honorable people I know and loved state service. As Director of LASERS, he always fought for his members and kept a close watch on any legislation that would affect LASERS members. He was very active during the Constitutional Convention of 1974 and worked to ensure that the new Constitution included the State’s guarantee of retirement benefits.”