Louisiana Assessors' Retirement Fund
| Louisiana Assessors' Retirement Fund | |
 | |
| Basic facts | |
| Location: | Baton Rouge, Louisiana |
| Top official: | Gabe Marceaux, chairperson |
| Year founded: | 1950 |
| Active members: | 738 |
| Website: | Official website |
| Total assets under management | |
| 2023: | $515,476,581 |
- See also: Public pensions in Louisiana
The Louisiana Assessors' Retirement Fund (ARF) is a Louisiana state pension fund that provides retirement, disability, and survivor benefits to the state's assessors, full-time permanent employees of the assessors, the secretary and regular employees of the Assessors' Retirement Fund, and permanent employees of the Louisiana Assessors' Association and the Louisiana Assessors' Insurance Fund. ARF had $515,476,581 ($515.5 million) in total assets under management as of September 30, 2023.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of ARF.
- Pension performance overview: Overview of the funding level and assets managed by ARF.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with ARF, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about ARF's oversight board, including members and selection.
Background
- See also: Public pensions
The Louisiana Assessors' Retirement Fund, founded in 1950, invests the assets of and provides funding for the retirement of Louisiana assessors, full-time permanent employees of the assessors, the secretary and regular employees of the Assessors' Retirement Fund, and permanent employees of the Louisiana Assessors' Association and the Louisiana Assessors' Insurance Fund. It operates as a defined benefit plan.[2]
ARF served over 738 active members and approximately 585 retirees and beneficiaries as of September 30, 2023.[1]
Pension performance overview
The following table features information about the funding level and assets managed by the Louisiana Assessors' Retirement Fund as of September 30, 2023:[1]
| Louisiana Assessors' Retirement Fund pension performance (September 30, 2023) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets |
| 2023 | 95.66% | The actuarial valuation for fiscal year 2023 did not provide a value for unfunded liabilities. | $515,476,581 |
Assets and asset management
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[3][4]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[5]
List of AMCs contracting with the Louisiana Assessors' Retirement Fund
The Louisiana Assessors' Retirement Fund (ARF) contracted with 14 asset management companies (AMCs) or specific funds as of June 30, 2022. Of those companies, one was an investor participant in Climate Action 100+, and three were members of NZAM, as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with ARF:[6]
- American Core Realty
- Blackrock Multi Asset Income-K (NZAM, Climate Action 100+)
- DE Shaw
- Driehaus Int'l SCG
- Europacific Growth Fund R6
- GAMCO All Cap Value
- JP Morgan Income Builder R6 (NZAM)
- LAMP
- Loomis Sayles Multisector Bond Fund
- Orleans Capital Core Fixed Income
- Principal Enhanced Property Fund, L.P.
- SSGA ACWI ex USA Index Fund (NZAM)
- TS&W International Large Cap
- Westfield All Cap Growth
Governance and accountability
This section features information about the 17-member board of trustees that oversees the Louisiana Assessors' Retirement Fund (ARF). The board is specific to oversight of ARF and does not exercise oversight duties for other state funds.[7][2]
Board selection method
The board of trustees that oversees ARF is made up of 17 members. The board is composed of the president, vice president, and treasurer of the Louisiana Assessors' Association; eight member representatives from the eight Louisiana Assessors' Association-created districts; two retiree representatives, nominated by the board and elected by the retirees of the fund; two assessor employee representatives who are members of the fund; a member of the Louisiana Senate Committee on Retirement; and a member of the Louisiana House Committee on Retirement.[2]
Board of trustees membership
A 17-member board of trustees oversees the operation and administration of ARF. The following individuals served on the board as of July 2024:[7]
- Gabe Marceaux, chairperson
- Lucien J. Gauff, III
- Stephanie Smith
- Michael Bealer
- Emmett “Lee” Brown, III
- Richard C. Earl
- Charles R. Henington, Jr.
- Jarrod Longman
- James A. “Jimbo” Stevenson
- Glenn Waguespack
- Erroll G. Williams
- Jerry Clark
- Irby Gamble
- Glenda Gaspard
- Louis A. Hebert
- Ed Price
- Brach Jared Myers
See also
- Public pensions in Louisiana
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 1.2 [https://www.louisianaassessors.org/wp-content/uploads/2024/07/ARF-Funding-Valuation-Report-2023-Revised.pdf Louisiana Assessors, "Annual Funding Valuation September 30, 2023 (Revised) Louisiana Assessors' Retirement Fund," July 29, 2024]
- ↑ 2.0 2.1 2.2 Louisiana Assessors, "Louisiana Assessors' Retirement Fund Employee Handbook July 1, 2024," July 1, 2024
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ 7.0 7.1 Louisiana Assessors, "BOARD OF TRUSTEES, LOUISIANA ASSESSORS’ RETIREMENT FUND," July 29, 2024
| |||||||||||||||||||||||
