This section creates the Optional Retirement Plan Advisory Committee and sets who appoints its members, what members are paid, and what support the committee and related entities must provide.
§933. Optional Retirement Plan Advisory Committee A. There is hereby established an advisory committee, to be known as the Optional Retirement Plan Advisory Committee. B. The advisory committee shall be comprised of the following members: (1) The president of each constitutionally established board which manages public postsecondary education institutions shall select one faculty member from among the faculty members of the institutions under the management of the board to be a member of the advisory committee. The person selected shall be a participant in the optional retirement plan established by R.S. 11:921 et seq. (2) The president of each constitutionally established board which manages public postsecondary education institutions shall select one nonfaculty unclassified staff member from among the nonfaculty unclassified staff members of the institutions under the management of the board to be a member of the advisory committee. The person selected shall be a participant in the optional retirement plan established by R.S. 11:921 et seq. (3) The commissioner of higher education shall select one member to represent participants in the optional retirement plan who are not employed by a public postsecondary education institution. The person selected shall be a participant in the optional retirement plan established by R.S. 11:921 et seq. C. Members shall serve without compensation but may be reimbursed for expenses as provided by the appointing authority. D. The advisory committee shall: (1) Provide information and feedback to the Board of Trustees for the Teachers' Retirement System of Louisiana related to: (a) Optional Retirement Plan terms. (b) Vendor selection. (c) Administrative fees. (d) Investments. (2) Provide regular updates to optional retirement plan participants. E. Each entity represented by a member of the advisory committee shall provide clerical staff and clerical support as requested by the advisory committee in fulfillment of the duties of the advisory committee. Acts 2025, No. 47, §1, eff. July 1, 2025.