Resolution Of The Board Of Trustees Of
The Louisiana State Employees' Retirement System (LASERS)

At its October 23, 2009 meeting, the LASERS Board of Trustees approved the following resolution directing LASERS Executive staff to intensify its efforts addressing critical issues facing the System and its members:

The Board of Trustees of the Louisiana State Employees’ Retirement System (LASERS), is empowered, in accordance with both Article X, Section 29 of the Louisiana Constitution of 1974 and Title 11 of the Revised Statutes, to act with broad authority relative to the establishment and maintenance of said retirement system; and

 The Board of Trustees of LASERS is at all times cognizant of its fiduciary responsibility to discharge its duties with respect to the system in the exclusive interest of the members and beneficiaries thereof; and

The Board of Trustees of LASERS has determined that fulfillment of this duty may from time to time include recognition of significant board issues as well as urging that action be taken thereon;

THEREFORE BE IT RESOLVED that the Board of Trustees of LASERS does hereby express that the following matters have reached such a critical state of importance to system members so as to elevate them to the status of significant board issues:

1. Identification and implementation of a legislatively enacted mechanism for the funding and granting of an annual cost-of-living adjustment for eligible system retirees in a reliable and dependable manner;

2. Preservation of the defined benefit plan for current and future LASERS members; and

3. Reduction or elimination of the federal offsets, the Windfall Elimination Provision and the Government Pension Offset.

THEREFORE BE IT FURTHER RESOLVED THAT The Board of Trustees of LASERS does hereby direct its executive staff to actively and diligently pursue the furtherance of said significant board issues through various means, including but not limited to the conveyance of this resolution to system members, as well as to all appropriate entities including the provision of substantive information and testimony before said entities where possible, as well as working in conjunction with other retirement systems.

THEREFORE BE IT FURTHER RESOLVED THAT The executive director of LASERS shall report quarterly to the Board of Trustees on all LASERS activities conducted in furtherance of this resolution.

Said resolution having been adopted by the Board of Trustees of the

Louisiana State Employees’ Retirement System this 23rd day of October 2009.

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Lorry Trotter

Chair of the Board