Actuarial Services staff, based in the Baton Rouge office of the Louisiana Legislative Auditor, serve as
the actuarial advisor to the Louisiana Legislature providing a variety of services which include:
- Preparing actuarial cost notes for all proposed legislation affecting Louisiana public
employee retirement systems.
- Performing the actuarial review of all state and statewide public retirement system
actuarial valuations and audited financials.
- Preparing the Annual Report on Louisiana Public Retirement Systems on the condition of state
and statewide public retirement systems for the legislature and the governor.
- Certifies cost-of-living allowances (COLAs) for state and statewide public retirement
- Publishing official state amortization tables and outstanding balances of the Unfunded
Accrued Liability (UAL) of the state retirement systems.
- Serving as a voting member on the Public Retirement Systems Actuarial Committee (PRSAC). The
committee recommends the employer contribution rates for all state and statewide retirement
systems and reviews the actuarial assumptions and funding methods used in their valuation.
- Attending legislative committee meetings and assists as requested.
- Providing actuarial consulting to legislators relative to possible legislation.
- Reviewing special information submitted by retirement systems as required by legislation.
- Providing actuarial support to the Legislative Auditor regarding pension and risk-related matters
(such as insurance), to include the review of actuarial statements and reports.
Paul T. Richmond is the Manager of Actuarial Services for the Louisiana Legislative Auditor. He is an Enrolled Actuary, a Member of the American Academy of Actuaries, an Associate in the Society of Actuaries, and a Fellow of the Conference of Consulting Actuaries. He meets the Qualification Standards of the American Academy of Actuaries to issue Statements of Actuarial Opinion regarding retirement plans.
James J. Rizzo is a Senior Consultant and Actuary with Gabriel, Roeder, Smith & Company. In the absence of Mr. Paul Richmond, Mr. Rizzo serves as the Actuary for the Legislative Auditor. He is an Enrolled Actuary, a Member of the American Academy of Actuaries, an Associate in the Society of Actuaries, and a Fellow of the Conference of Consulting Actuaries. He meets the Qualification Standards of the American Academy of Actuaries to issue Statements of Actuarial Opinion regarding retirement and other post-employment benefit plans.