Louisiana State Police Retirement System, Baton Rouge, is in the process of updating a prior asset-liability study to see how it can further exceed its 7.5% assumed actuarial rate of return and add diversification, said Irwin Felps, executive director. The $340 million plan's consultant, UBS PRIME Asset Consulting, conducted the study with actuary Hall Actuarial Associates in 2003. Plan officials recently discussed adding alternatives to the asset allocation, which the updated study will reflect, Mr. Felps said.
Mr. Felps said he expects the update to be complete in three to six months, at which time plan officials will have a better idea of what alternative asset classes they might add. The pension plan's investment policy currently prohibits alternatives, so it would also need to be amended, he said.
Plan officials have not yet released the investment return for the year ended June 30, Mr. Felps said. The plan's investments returned 11.4% for the year ended June 30, 2004.