§ 11:924 — Criteria for placement of contracts

§924. Criteria for placement of contracts
The Board of Trustees of the Teachers' Retirement System of Louisiana shall select
no more than three companies from which contracts will be purchased. In setting the criteria
for this selection, the board shall consider, among other things, the following:
(1) The portability of the contracts offered or to be offered by the company, based
on the number of states in which the designated company provides contracts under similar
plans.
(2) The efficacy of the contracts in the recruitment and retention of employees for
the various state public postsecondary education institutions and for the Board of Regents,
Board of Supervisors for the University of Louisiana System, Board of Supervisors of
Louisiana State University and Agricultural and Mechanical College, Board of Supervisors
of Southern University and Agricultural and Mechanical College, and Board of Supervisors
of Community and Technical Colleges, or their successors, and any other constitutionally
established board which manages public postsecondary education institutions.
(3) The nature and extent of the rights and benefits to be provided by the contracts
for participating employees and their beneficiaries.
(4) The relation of the rights and benefits to the amount of the contributions to be
made pursuant to the provisions of this Part.
(5) The suitability of the rights and benefits to the needs and interests of participating
employees and the various state public postsecondary education institutions and the Board
of Regents, Board of Supervisors for the University of Louisiana System, Board of
Supervisors of Louisiana State University and Agricultural and Mechanical College, Board
of Supervisors of Southern University and Agricultural and Mechanical College, and Board
of Supervisors of Community and Technical Colleges, or their successors, and any other
constitutionally established board which manages public postsecondary education
institutions.
(6) The ability of the designated company or companies to provide the rights and
benefits under such contracts.

Legislative History

Acts 1989, No. 90, §1; Redesignated from R.S. 17:774 by Acts 1991, No. 74, §3, eff. June 25, 1991; Acts 1998, 1st Ex. Sess., No. 88, §1, eff. July 1, 1998; Acts 2025, No. 47, §1, eff. July 1, 2025.