Firefighters' Retirement System Board of Trustees

Name Firefighters' Retirement System Board of Trustees
Contact Person Ms. Marella Houghton - Deputy Director
Mailing Address Post Office Box 94095
Baton Rouge, LA 70804
Phone Number 225-925-4060
Fax Number 225-925-4062
Board Email frs@ffret.com
Website www.ffret.com
Legal Authority Louisiana Statutes Chapter 11
Year Created 1980
Organizational Placement NA
Purpose/Function To provide retirement, death, and disability benefits to firefighters in the state of Louisiana.
Number of Entity Members: Number Authorized: 11
Number Currently Serving: 11
Number of Entity Meetings: Actual number in prior year: 12
Estimated number in current year: 12
The Entity is:
Active   Inactive   Not fully organized   Disbanded   Never fully organized
Do members receive per diem, salaries, and/or travel expense reimbursements?
Yes   No
Excluding member per diem, salaries, and travel expense reimbursements, does the entity receive or expend funds?
Yes   No
Entity Member Per Diem:
  Amount Authorized: $75      per meeting   per meeting day   per day spent on board business   None
Total entity member per diem:
  Prior year actual: $3,075.00
  Current year budgeted: $7,350.00
Entity Member Salaries:
  Prior year actual: $0.00
  Current year budgeted: $0.00
Entity Member Travel Expense Reimbursement:
  Prior year actual: $28,680.00
  Current year budgeted: $60,670.00
Number and Type of Authorized Employee Positions:
Classified: 0
Unclassified: 10
Part-time: 0
Entity Fiscal Year End:
4/30         7/31         10/31         Other (identify date)
6/30         9/30         12/31         None
Participation in State Employee Benefit Programs:
    Employees:
       participate in state retirement system(s) and/or state group insurance program(s)
       do not participate in state benefit programs

    Members:
       participate in state retirement system(s) and/or state group insurance program(s)
       do not participate in state benefit programs
A state agency provides: (Check all that apply and identify the state agency)
Per Diem Payments          State Agency:
Travel Reimbursements    State Agency:
Other (explain)    State Agency:
Is this entity a budget unit or included within a budget unit of the State of Louisiana as defined by LSA-R.S. 39:2?
   Yes    No
  If yes, identify the budget unit and the budget schedule number below:
  Budget Unit Name:
  Budget Schedule Number:
Notes The budgeted amounts to run the retirement system are included in the annual expenditures budget. This budget does not include employee and employer contribution amounts to the retirement system, investment income, monthly retiree benefit checks, etc.

FRS does not provide any amounts for the "Means of Financing" (MOF) because it cannot project what contribution amounts the employers will submit for their employee and employer contributions. Each employer determines how many employees they will have at any given time, the job positions and corresponding pay amounts for each employee, and the amount of pay increases, if any, that may be granted.

Also, FRS has investments which provide income for the fund. FRS cannot project the timing or amount of any income or loss these investments may provide.

FRS does not provide monthly retiree benefit amounts or DROP transactions because each member of the retirement system determines when they will retire, enter and exit DROP, and make DROP withdrawals or initiate a roll-over of their DROP funds to another qualified financial institution.
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