LASERS Members Elect Five Trustees in 2023 Board Election

Baton Rouge – Louisiana State Employees’ Retirement System (LASERS) members elected five Trustees to the LASERS Board in the 2023 election.

Active LASERS members elected three candidates to serve four-year terms. The newly elected representatives are Pam Diez, Undersecretary at the Department of Health; Cortny Jarrell, Human Resources Analyst at the Louisiana House of Representatives; and Laura Lapeze, Undersecretary at the Department of Revenue.

LASERS retirees elected incumbent Virginia Burton, retired from the Department of Revenue, and Beverly Hodges, retired from the Department of Natural Resources. Hodges had previously served as a Trustee on the LASERS Board.

Voting ended on October 27 and the Board certified the election results at its November 16 meeting. Elected Trustees will be sworn in prior to the Regular Board Meeting in January 2024.

The 13-member policy-making Board has fiduciary oversight over LASERS. Members include six elected active members, three elected retired members, and four ex officio members including the State Treasurer, Commissioner of Administration, Senate Retirement Committee Chair, and Member of the House Retirement Committee appointed by the Speaker, or their designees.

LASERS administers a defined benefit pension plan that covers approximately 100,000 members. The system’s total market value of assets stands at $14.5 billion. LASERS Benefits Louisiana by paying over $1 billion in annual benefits to beneficiaries, providing a strong and reliable economic stimulus for the state.

For more information, contact Public Information Director Mallory Sharp at [email protected].

LASERS Reports 11.7% Investment Return

Baton Rouge — The Louisiana State Employees’ Retirement System (LASERS) reported an 11.7% investment return for the 12-month period that ended June 30, 2023.

The System’s total market value of investment assets stands at just over $13.2 billion.

“The benefit of diversification is evident in our investment returns. Our Board of Trustees and staff strive to be forward-thinking, disciplined, and efficient while continuing to allocate assets for the long term. We are pleased with our plan performance and believe that LASERS is well positioned to meet its future goals and objectives,” LASERS Chief Investment Officer Bobby Beale said.

“This year’s 11.7% investment return and asset growth is a reflection of our System’s dedicated team who work diligently to navigate the challenges posed by market volatility, economic shifts, and global uncertainties.” LASERS Executive Director Trey Boudreaux said. “This success is attributable to the wise decision-making of our Board and to our exceptional investment team, always working to provide retirement security for our members.”

LASERS administers a defined benefit pension plan that covers approximately 100,000 members. LASERS Benefits Louisiana by paying over $1 billion in annual benefits to retirees and their beneficiaries, providing a strong and reliable economic stimulus for the state.

For more information on LASERS investments, visit www.lasersonline.org/investments or contact LASERS Public Information Director Mallory Sharp at [email protected].

LASERS Announces Changes in Executive Management

Baton Rouge – The Louisiana State Employees’ Retirement System (LASERS) Board of Trustees is pleased to announce structural changes in management. The Board selected Bernard E. “Trey” Boudreaux, III to serve as Executive Director of the $12.8 billion retirement system. He replaces Cindy Rougeou, who retired from the position in June.

Boudreaux has over 32 years of Louisiana state government experience. He has been a part of the LASERS Executive staff since 2008, having served as Chief Administrative Officer and Chief of Staff.

Prior to joining LASERS, Boudreaux served as Undersecretary of the Department of Corrections. He has also worked for the Legislative Fiscal Office and the Attorney General’s Office. Boudreaux holds a bachelor’s in marketing and a master’s in public administration from  Louisiana State University (LSU). He is a member of the Louisiana Association of Public Employees’ Retirement Systems (LAPERS) and a recipient of the Civil Service League’s Monte M. Lemann Award in 2018.

“I am humbled and honored for the opportunity to lead the retirement system I’ve been a part of for 32 years. I was fortunate to work with Cindy Rougeou throughout my 15-year tenure at LASERS and I’m excited to work with the great team currently assembled,” Boudreaux said.

In addition to this change, Travis McIlwain is now LASERS Chief of Staff. McIlwain joined LASERS in 2021, most recently serving as Chief Administrative Officer. McIlwain began state service in 2005 and was the Louisiana State Budget Director at the Division of Administration,  Office of Planning and Budget prior to joining LASERS. He holds a bachelor’s in mass communication and a master’s in public administration from LSU.

Completing the LASERS Executive Management team, Tina Grant will continue to serve as Executive Counsel and Robert “Bobby” Beale will continue as Chief Investment Officer.

“Prior to Cindy’s retirement, the Board worked closely with Cindy, Trey, and the entire Executive team to ensure a smooth transition in leadership. We are confident in Trey’s ability to continue to uphold the LASERS mission of providing a sound retirement plan to members,” LASERS Board Chair Shannon Templet said.

LASERS administers a defined benefit pension plan that covers approximately 100,000 members. The System’s total market value of assets stands at $12.8 billion. LASERS Benefits Louisiana by paying over $1 billion in annual benefits to retirees and their beneficiaries, providing a strong and reliable economic stimulus for the state.

For more information on the LASERS Executive Management team, visit our website or contact LASERS Public Information Director Mallory Sharp at [email protected].

Candidates Announced in 2023 LASERS Board Election

Baton Rouge – Eight candidates are running in the 2023 Louisiana State Employees’ Retirement System (LASERS) Board of Trustees Election. Three open seats must be filled by active LASERS members and two by LASERS retirees. A random drawing was held to determine ballot positions for the candidates.

The four candidates for the three active positions, in ballot order, are: Laura Lapeze, Undersecretary with the Department of Revenue; Judge William Kleinpeter, Judge for Port Allen City Court; Cortny Jarrell, Human Resources Analyst at the Louisiana House of Representatives; and Pam Diez, Undersecretary at the Department of Health.

The four candidates for the two retiree positions, in ballot order, are: Virginia Burton, retired from the Department of Revenue; Kevin Shannahan, retired from the Department of Health; Beverly Hodges, retired from the Department of Natural Resources; and Charles Castille, retired from the Department of Health.

The 13-member policy-making Board has fiduciary oversight over LASERS. Members include six elected active members, three elected retired members, and four ex officio members including the State Treasurer, Commissioner of Administration, Senate Retirement Committee Chair, and Member of the House Retirement Committee appointed by the Speaker, or their designees.

LASERS administers a defined benefit pension plan that covers approximately 100,000 members. The system’s total market value of assets stands at $12.8 billion. LASERS Benefits Louisiana by paying over $1 billion in annual benefits to beneficiaries, providing a strong and reliable economic stimulus for the state.

The LASERS board election schedule and candidate platforms and qualifications are available at www.lasersonline.org. For more information, contact Mallory Sharp at [email protected].