RETIREMENT BOARD OF ADMINISTRATION

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA  

 

JANUARY 26, 2011 – 10:00 A.M.

 
       ROOM 1555-H, 111 NORTH HOPE STREET, LOS ANGELES, CA 90012

 


 

A meeting of the Retirement Board will be held on January 26, 2011, convening at 10:00 a.m. or soon thereafter if quorum is present.

                                                                                                             

As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodation to ensure equal access to its programs, services, and activities.  To ensure availability, such request should be made 72 hours in advance by contacting the Retirement Office at (213) 367-1712 during business hours.

 

At the beginning of the meeting, the Board will provide an opportunity for members of the public to address it on items of interest that are within the subject matter jurisdiction of the Board. Thereafter, the Board will consider and take action on the Regular Agenda items. Members of the public may also request to speak on any agenda item.  The meeting is recorded.

 


 

 

Reso

Item

Description of Agenda Item

Page

 

PUBLIC COMMENTS

 

CONSENT      (Approval of routine, non-controversial items; action is taken on the whole Consent Agenda and

                                     is treated as a separate vote on each item.)

 

1

Request for Approval of Minutes:

a)  November 10, 2010, Regular Meeting

b)  December 1, 2010, Special Meeting

 

 

1a.1 - 1a.6

1b.1 - 1b.5

 

11-56

11-57

11-62

11-63

2

 

 

 

Termination from Rolls

      Termination of Monthly Allowance from the January 2011 Retirement Roll

      Termination of Dorothy F. Goldsworthy from the December 2010 Survivorship Roll

    Termination of Faye S. Thomas from the January 2011 Family Death Benefit Roll

    Termination of Briana Franco and Servando Franco from the January 2011 Family          Death Benefit Roll

 

 

2.1 – 2.4

RECEIVED AND FILED         (Items of Interest to the Board on which no action is taken)

 

 

 3

Report of Payment Authorizations for December 2010

3.1 – 3.95

 

 4

Notice of Deaths for December 2010

4

 

 5

Investment Reports for November 2010

a)  Summary of Investment Returns as of November 30, 2010

b)  Market Value of Investments by Fund and Month as of November 30, 2010

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health       Care Fund as of November 30, 2010

 

 

5a.1 – 5a.7

5b.1 – 5b.3

5c.1 – 5c.2

 

RECEIVED AND FILED    (continued)  

 

 6

Investment Reports for December 2010

a)    Summary of Investment Returns as of December 31, 2010

b)    Market Value of Investments by Fund and Month as of December 31, 2010

c)    Market Value of the Retirement, Death, and Disability Funds and Retiree Health        Care Fund as of December 31, 2010

 

6a.1 – 6a.7

6b.1 – 6b.3

6c.1 – 6c.2

 

 7

Report on Status of Insurance as of December 16, 2010

7

 

 8

Report on Glass, Lewis and Company, LLC, Strategic Agreement with PROXY Governance, Inc.

8.1 – 8.4

 

 9

Report Confirming Courtland Partners’ Recommendation Regarding Bristol Value Fund II

9.1 – 9.5

 

10

Report on Personnel Changes at BlackRock, Inc.

10.1 – 10.4

 

11

Report on Fee Structure Change at T. Rowe Price International Equity Commingled Trust

11.1 – 11.6

REGULAR              (Items for discussion and action by the Board)

 

 

12

Presentation by Courtland Partners, Ltd –Third Quarter 2010 Real Estate Portfolio Performance

12

 

13

Update from Courtland Partners with Respect to Direct Asset Acquisition

13

 

14

Presentation by Pension Consulting Alliance - Real Return Asset Class Review

14

11-58

15

Discussion of Performance of Wells Capital Management Fixed Income Core; and Possible Action

15.1–15.11

11-59

16

Discussion of Performance of Wells Capital High Yield Fixed Income; and Possible Action

16.1–16.13

11-60

17

Discussion of Contract with Loomis Sayles High Yield Fixed Income; and Possible Action

17.1 – 17.9

11-61

18

Discussion of Request from Wells Capital for an Additional Extension of the Investment Policy Exception Regarding Equity Exposure; and Possible Action

18.1–18.10

 

19

Update on the Change in Regular Interest Rate for Member Accounts

19.1 – 19.3

 

20

CLOSED SESSION PURSUANT TO GOVERNMENT CODE SECTION 54956.9(b), to Confer with Legal Counsel Regarding a Matter in Which, Based on Existing Facts and Circumstances, there is a Significant Exposure to Litigation Against the Board, and Pursuant to Government Code Section 54956.9(c), to Confer with Counsel in Considering Whether to Initiate Litigation in that Matter 

 

20

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

21

 

21

FUTURE AGENDA ITEMS

 

 

22

 

21

           

 

 

In compliance with Government Code Section 55957.5, non-exempt writings that are distributed to a majority or all of the Board or applicable Committee of the Board, in advance of their meetings, may be viewed at the offices of the Water and Power Employees’ Retirement Plan (WPERP), located at 111 North Hope Street, Room 357, Los Angeles, California 90012, or at the scheduled meeting.           

 

Posted on January 21, 2011, at 8:30 a.m.