LAC 58:III.1531. ORP Providers

A. In the selection of ORP provider(s) as required by law, the board of trustees will, at a minimum, consider the following criteria in the selection process: 1. 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. efficacy of the contracts in the recruitment and retention of employees for the various state public institutions of higher education and higher education boards; 3. nature and extent of the rights and benefits to be provided by the contracts for participating employees and their beneficiaries; 4. relation of the rights and benefits to the amount of the contributions to be made pursuant to the provisions of the plan; 5. suitability of the rights and benefits to the needs and interests of participating employees and employers; and 6. ability of the designated company or companies to provide the rights and benefits under such contracts. B. The TRSL will enter into a contract with each ORP provider. Effective July 1, 2015, each ORP provider contract shall include the “operational guide for ORP providers” developed by the TRSL.