RS 11:451.2 Selection of providers - Louisiana Statutes

§451.2.  Selection of providers

The Board of Trustees of the Louisiana State Employees' Retirement System shall select a provider which will be authorized to place the Deferred Retirement Option Plan participant's subaccount balance, after the Deferred Retirement Option Plan participation ends, in products that shall be selected by the participant.  In selecting a provider, the board shall consider, among other things, the following:

(1)  The tax status of the products.

(2)  The portability of the products offered by the provider.

(3)  The types and diversity of products offered by the provider.

(4)  The ability of the designated provider to provide the rights and benefits under the products.

(5)  At a minimum, one short-term fixed income option.

(6)  At least one of the fund providers shall maintain an office in the state of Louisiana.

Acts 2003, No. 818, §1, eff. Jan. 1, 2004.