2021 ELECTION YEAR FOR LASERS BOARD OF TRUSTEES - Lasersonline

from the Office of Group Benefits:COVERAGE OF THE COVID-19 VACCINE AND MEDICARE SUPPLEMENTAL PLANSCOVID-19 VACCINEMEDICARE SUPPLEMENTAL PLANSAs the COVID-19 vaccine becomes available to morepeople, the Office of Group Benefits wants you to have allthe available information on where to get the vaccine andhow it will be covered.OGB would like to remind members with Medicare thatthey should NOT enroll in a Medicare supplement planwithout first consulting with OGB. If you are enrolled in thePelican HRA1000, Magnolia Local, Magnolia Local Plus orMagnolia Open Access plans, you already have a Medicaresupplement. These plans pay secondary to Medicare or“supplement” regular Medicare coverage. Enrollment inone of these plans also includes your Medicare Part Dcoverage through Vibrant Rx.For active employees, their covered dependents andnon-Medicare retirees, the vaccine will be covered nodifferent than the flu shot. If you go to a pharmacy toreceive the vaccine, there will be no out-of-pocket cost toyou. If you go to your primary care physician to receivethe vaccine (when it is available to physicians’ offices),you may be required to pay your normal visit copay/coinsurance if you receive the vaccine in addition to otherservices.For retirees with Medicare, the COVIDvaccine will be covered under regularMedicare at no cost to you.The Louisiana Department of Healthis coordinating the COVID-19 vaccinedistribution effort in Louisiana. Asmore vaccines become available fromthe CDC, more individuals and groupswill be offered a vaccination. You canlearn more about the State’s rolloutplan for the COVID-19 vaccine atldh.la.gov/covidvaccine.OGB encourages members to get thevaccine when it is made available tothem. Until then, continue to followthe guidelines set forth by the CDCand the Louisiana Department of Health: Wear a mask to protect yourself and others. Themask should be worn over your nose and mouth. Stay at least 6 feet from others who do not livewith you. A void crowds. The more people you are incontact with, the more likely you are to beexposed to COVID-19. If you are sick, stay home. Isolate yourself fromother members of your family to prevent spread tothem and the people they may have contact with. Get tested! If you have symptoms, call your healthcare provider about getting tested.OGB understands it can be tempting to look into theMedicare plans you see advertised on television, butyou need to do your homework before enrolling. Mostplans that seem too good to betrue, usually are. It is important toask yourself, “is the plan sponsoredby OGB?” Why is this important?If you enroll in a plan that is NOTsponsored by OGB, you will loseyour OGB coverage. The Centers forMedicare and Medicaid Services (CMS)will only allow you to be enrolled inone Medicare supplement plan ata time. If you enroll in another plan,CMS will disenroll you from your OGBplan. Remember, your OGB coverageacts as a supplement to Medicare andis your Medicare Part D coverage.How do you know if a plan issponsored by OGB? OGB requiresparticipating Medicare Advantageplans to incorporate the OGB logo into anything theysend members or any ads they have on the Internet ortelevision. Another way to determine if a plan issponsored by OGB is to call or email OGB customerservice. The OGB customer service team is availableMonday – Friday, 8:00 a.m. – 4:30 p.m. to answer anyquestions about Medicare supplement plans. You cancall OGB customer service at 1.800.272.8451 or emailOGB.customerservice@la.gov.If you do your research and decide that you want tomove forward with the non-OGB sponsored plan,you need to understand that you will lose your OGBcoverage and you will not be able to get it back. VOLUME 32, NUMBER 1 -5-

GET TO KNOWGet the NumbersVisit the LASERSWebsite for InvestmentPerformanceClick on the Investments tab,then Performance. Investmentperformance summaries areupdated monthly.View our investments actualasset allocation and targetallocation by clicking on theInvestments tab, then AssetAllocation.LASERS A Solid Foundation forthe Future is now available onour website. This four-pagedocument gives a snapshotof the System in an easy-tounderstand format.The numbers show that bylowering the discount rate,adopting new strategic assetallocations annually, reducingthe assumed inflation rate,improving efficiency, andreducing operational costs,the sustainability of theLASERS fund will continueto strengthen for decadesto come.Did You Know?LASERS had 12 retirees as ofJuly 1, 1947 who drew the firstmonthly benefits payout inAugust of that year, totaling 1,011. THE BEAM MEET ROBERT W. BEALE:LASERS Executive Management Team MemberRobert W. “Bobby” Beale was employed at MerrillLynch before joining LASERS in 1997 as aninvestment officer. Within three years, Bobbywas promoted to his present position ofChief Investment Officer. He has over 30years of investment experience in pensionsand investments management, and holdsCharterholder designations as a CharteredFinancial Analyst (CFA) and Chartered AlternativeInvestment Analyst (CAIA). Bobby has a Bachelorsof Business Administration/Finance degree from the University of Louisiana,Lafayette and a Master’s Degree in Finance from LSU.As our Chief Investment Officer,Bobby leads the InvestmentsThere are tens ofDivisionatLASERS.Thethousands of people dependingInvestmentsDivision,withon us to do a good job. and it’soversight from the Board ofTrustees, is responsible for thea huge responsibility.management of the plan assets.When asked what he enjoys mostabout his job at LASERS, Bobby said, “Definitely the people I work with, notonly the professionalism of how they perform, but also how much all of us careabout what we do here. There are tens of thousands of people depending on usto do a good job providing for their retirement, and it’s a huge responsibility.”“A Solid Foundationfor the Future:Report Released-6-LASERSSTAFF”“Bobby Beale’s contribution to LASERS as our Chief Investment Officer isimmeasurable,” said Cindy Rougeou. “During times of extreme market volatility,Bobby remains a reassuring and stable presence; he inspires confidence. He andhis team internally manage one-third of LASERS portfolio, saving enough inmanager fees to fund the salaries of every employee at LASERS. During his tenureas CIO, the value of LASERS assets has more than doubled to 12.3 billion bycalendar year end 2020. Bobby is well respected by our Board of Trustees, LASERSstaff, as well as his colleagues nationwide.”In addition to his role in Investments, Bobby is also a member of the ExecutiveManagement Team at LASERS along with Executive Director Cindy Rougeou,Chief of Staff Trey Boudreaux, and Executive Counsel Tina Grant. He is alwaysavailable to the Executive staff and Board of Trustees to answer questions andprovide information when needed.It seems that Bobby has chosen the perfect career path. He remarked, “I havealways been interested in Finance and Investments since before college.Investments and everything connected to them are always changing, alwaysevolving, so there is always something new to learn. I like that. It would be veryboring if that wasn’t the case.”In his spare time, Bobby enjoys being outdoors, exercising, water-relatedactivities, and a nice glass of wine.Cheers to Bobby Beale for his accomplishments at LASERS!WINTER 2021

20 YEARS10 YEARS[AT LASERS][AT LASERS]CELESTE FUNDERBURKMONA JOSEPHMIKE KERNERNEST POINDEXTER[INVESTMENTS][MEMBER SERVICES][FISCAL][FISCAL]ANDREA ROGERS[HUMAN RESOURCES]WENDY DEMOUY[MEMBER SERVICES]BRODIE BRUMFIELD[MEMBER SERVICES]LASERS BOARD ELECTS CHAIR AND VICE CHAIRThe LASERS Board ofTrusteesunanimouslyelected Beverly Hodgesand Barbara McManus asthe 2021 Chair and ViceChair, respectively, at itsJanuary meeting.Hodges,retiredUndersecretary for theDepartment of NaturalResources, will lead theLASERS Board as newBeverly HodgesChair. She has served2021 Board Chairas an active memberTrusteesince2010.Hodges previously chaired the Audit, Management, andInvestment Committees of the Board and served twoprior terms as Board Chair.A retiree from the Department of Social Services,McManus is the new Vice Chair and has a long historywith the Board. She first served as an active memberTrustee from 1976 – 2000. McManus was then electedas a retired member Trustee in 2004 and servedBarbara McManus2021 Board Vice Chaircontinuously until 2016.She was re-elected in2018 for her 13th term.McManus most recentlychairedtheAuditCommittee, but in herlong tenure as a Trustee,she has led all Boardcommittees numeroustimes, in addition toserving as Vice Chair andBoard Chair a total ofeight years.“I am delighted thatBeverly Hodges andBarbara McManus will lead our Board of Trustees in2021. Both of them have a world of professionalknowledge and vast experience as Trustees of ourSystem. They are committed to keeping LASERS safeand sound, and sustaining growth in assets to providebenefits to current and future retirees,” said LASERSExecutive Director Cindy Rougeou. “I have a great deal ofadmiration for both of them. VOLUME 32, NUMBER 1 -7-

THEComments fromour MembersBOARDMEMOBeverly Hodges, 2021 Board Chairnearing retirement“is anWhileexciting time, it also has“its accompanying stresses andworries. Your (Derek Harris)great service has eliminated afew of those worries!Joel D.”Oakdale, LAquestions and providing mewith all of the informationthat I needed to prepare formy retirement.”Brenda B.Zachary, LABridget Taylor was very“knowledgeableand helpfulto my needs. She knew herjob and if it was somethingshe didn’t know, she got theanswer for me.”Woodville, MSA similar bill from Rep. Davis, HR 141,or the Social Security Fairness Act of2019, stalled in Congress last year anddid not move through the legislativeprocess despite 264 co-sponsors.similar to HR 141 in addressing theWEP and GPO, but additional sponsorsare being sought. So far, only twomembers of Congress from Louisianahave co-sponsored HR 82, Rep. GarretGraves and Rep. Clay Higgins. The billhas been referred to the House Waysand Means Committee.The repeal or elimination of the federaloffsets, the Windfall EliminationProvision and the GovernmentPension Offset, have been identifiedby the LASERS Board of Trustees asissues of significance.LASERS will continue to monitor thislegislation and provide updates asappropriate. You may also visit RSEA’swebsite for additional informationon HR 82. If you have any questions,please contact RSEA Director ofLegislative and Governmental Affairs,Frank Jobert, at 504.289.9424. RSEA TO HOST “VIRTUAL” STATEWIDE TOURLASERS is a class act. You“sincerelydo your best toprepare us for retirement!”Sid L.Erath, LATHE BEAMCongressman Rodney Davis (RIL) introduced HR 82, known asthe Social Security Fairness Act of2021, on January 4 in the House ofRepresentatives. This federal bill, ifpassed, would repeal provisions thatreduce Social Security benefits forindividuals who receive other benefits,such as a pension from a state or localgovernment. HR 82 would eliminatethe Windfall Elimination Provision orWEP and the Government PensionOffset or GPO. Currently, 45 U.S.representatives across the countryhave joined to co-sponsor thebipartisan bill.The new proposed legislation isVanette T. ”FEDERAL BILL, HR 82, SEEKS REPEAL OF WEP/GPOHenning did a“greatDaniellejob of answering my-8-LASERS will continueto monitor thislegislation and provideupdates as appropriate. RSEA’s much-anticipated annual statewide chapter tour is expected to begin inearly April, but the usual participants will experience a new format this year. Forthe first time, a virtual tour is on the agenda. While parts of the statewide tourhave been canceled in the past because of weather conditions and the Governor’sStay-at-Home order last year, the COVID-19 pandemic brought about the decisionto cancel the in-person tour in 2021.An announcement will be forthcoming from RSEA with specific information onhow to participate. In the meantime, LASERS is developing a video presentationwith the latest information and a special section on our website with supportingmaterials for active and retired members. Stay tuned! WINTER 2021

AT T E N T I O NLASERSMEMBERSMARK YOUR CALENDAR: IMPORTANT BENEFIT PAYMENTPlease note that the May 1, 2021 benefit payment date fallson a Saturday, which could affect receipt of your funds.Direct deposits are guaranteed to be in your bank or creditunion on the first day of the month. Be aware that if the firstfalls on a weekend (Saturday or Sunday) or holiday, fundsmay not be available until the following business day. Inthese cases, please contact your financial institution directlyfor information on when your funds will be made available to you. That decisionis made by your financial institution, not LASERS. If you have not received yourmonthly benefit payment by the first business day of the month, please contactLASERS in Baton Rouge at 225.922.0600 or toll-free at 800.256.3000. DROP RATE OF RETURNThe rate of interest to be paid on eligible (non-Self Directed Plan) DROPaccounts for the fiscal year that ended June 30, 2020 is 3.44 percent.This interest rate is based on a five-year actuarially smoothed return.The Public Retirement Systems’ Actuarial Committee (PRSAC) approved theinterest rate at its December 14, 2020 meeting. The interest was posted toaccounts in January.Protect YourHealthThe flu and Covid-19 vaccinesare fully covered by Medicare atno cost to you.Contact your doctor to schedulean appointment to receive yourvaccinations.For more information, contactthe LDI Senior Health www.ldi.la.gov/SHIIP. Follow uson Facebook @LASHIIP. Participants in the Self-Directed Plan do not receive this interest, but participatein earnings or losses based upon the choices they have made in their investmentallocations through Empower Retirement.For more information regarding DROP, please see the Deferred RetirementOption Plan chapter of the Member’s Guide to Retirement. ATTEND A LASERS SEMINAR VIRTUALLY!View Your2020 AnnualStatement inWhether you are a new LASERS member or approaching retirement, oureducational seminars provide essential information and tools to help you planfor your retirement.We currently offer two seminars virtually to meet the needs of our members.EARLY CAREER SEMINAR: This two-hour virtual seminar is for LASERS membershired on or after January 1, 2011, but who are not within five years of retirementeligibility. This seminar introduces members to LASERS and educates them onmembership in a defined benefit retirement plan. We encourage registration forall new hires who meet the above requirements, especially members who haveno previous LASERS service.PREP SEMINAR: This four-hour virtual seminar is for LASERS members who areapproaching retirement. This seminar includes information on Social Securityand the Office of Group Benefits. It also includes a presentation from EmpowerRetirement. We encourage registration for any member inquiring aboutretirement and/or approaching retirement.Multiple virtual seminar dates are available through June 2021. Register forone by going to www.lasersonline.org, and click on ‘Register for a Seminar’on the home page. Active members will receiveannualLASERSmemberaccount statements in themail in March. However, weencourage you to log in to yourmyLASERS account to viewyour statement. Once you arelogged in to myLASERS, clickon Documents, then AnnualStatements.AMemberConnection email will be sentwhen statements are availableto view in your account. VOLUME 32, NUMBER 1 -9-

WHO’S WHO OF75 YEARS OF[LASERS][HISTORY]Throughout 2021, we will recognize people who have made significant contributions to LASERS to ensure the long-termsustainability of the System. In making our initial selections, two men immediately came to the forefront of the list; bothinstrumental in the formation and early implementation of the retirement system.[GOVERNOR JAMES “JIMMIE” HOUSTON DAVIS]Governor Jimmie Davis iscredited with creating theState Employees’ RetirementSystem in 1946. He and hisadministrationsponsoredlegislation, according tothe original bill, that wouldprovide “a retirement fundfor aged and incapacitatedofficers and employees of theState of Louisiana and theirbeneficiaries.”Establishedwith Act 126, Gov. Davis was known to say that thecreation of the retirement system in his first term (19441948) was one of his finest achievements.Elected at 43 years old in 1944, Davis was considered ananti-Huey Long reform governor, but was better known asa“fancy-dressing hillbilly tenor”who had already sold morethan a million records before entering politics. His biggestcountry/western hits included, “You Are My Sunshine,”“Nobody’s Darlin’ but Mine,” and “ItMakes No Difference Now.” Davis wasknown as the Singing Governor andfamously campaigned with his band,giving short speeches, and pleasingthe crowd with his music. He said, “It’sbetter in a political campaign to givefolks very little talking and a whole lotof songs.” He saw to it that drivers of automobiles were finallylicensed in his first administration, and he got thefirst Driver’s License issued in the state. In 1947, he starred in a movie, “Louisiana,” about hislife growing up as a sharecropper’s son, and endingwith his election as governor of the state. Oninauguration day of his second term, in 1960,he wore a white cowboy hat and rode his horse,Sunshine, up the steps of the Louisiana Capitol tosing the praises of his legislative agenda. His performing career spans eight decades; he waselected to the Country Music Hall of Fame in 1971,the Nashville Songwriters Hall of Fame, and theGospel Music Hall of Fame. His smash hit, “You Are My Sunshine,” is one of thestate songs of Louisiana. It has been recorded byhundreds of artists over the past 80 years, soldmillions of records, translated intoover 30 languages, and is considered“one of the most commerciallyprogrammed numbers in Americanpopular music.”Interesting facts aboutJimmie Davis: During his first term as governor,he traveled to Hollywood andNashville to make B westernmovies and sing, earning himthe nickname, “the absenteegovernor.” He also scored fiveTop Five singles during thisperiod of time.-10- THE BEAM Governor Davis riding Sunshineat the State Capitol.WINTER 2021When Gov. Davis passed away at101 years old in 2000, his fame andachievements were recognized inThe New York Times, The ChicagoTribune, The Times Picayune, andother newspapers throughoutthe country. It seems his politicalcareer was overshadowed bythe wonderful body of music heleft behind.When asked late in life how hewanted to be remembered, hereplied, as “someone who scattereda little sunshine along his path.”

[HOMER RUFUS ROBINSON]Homer R. Robinson holdsthe distinction of being thefirst executive director of theLouisiana State Employees’Retirement System. He waschosen to administer theSystem in February 1947,having previously served asthe Chief of the Audits andInspection Division of theDepartment of Revenue.Robinson was selected fromamong 30 applicants for the position, after each wasgiven a written exam and oral interview.C.J. Win

Janice Lansing 225.342.4698 Lori Pierce 225.344.4758 Sen. Edward Price 225.644.6738 Hon. John Schroder 225.342.0055 Shannon Templet 225.342.2455 BOARD OF TRUSTEES Four seats on the LASERS Board are up for a vote in the 2021 Board of Trustees election. LASERS members have the opportunity to cast their ballots for candidates every