RETIREMENT BOARD OF ADMINISTRATION

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA  

 

SEPTEMBER 26, 2012 – 9:00 A.M.

 

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

 

 


 

A meeting of the Retirement Board will be held on September 26, 2012, convening at 9:00 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.

 


 

PUBLIC COMMENTS

 

CONSENT (Approval of routine, non-controversial items; action taken on entire consent agenda and treated as separate vote on each)

Reso

 

 

 

 

1.

Request for Approval of Minutes

a)  July 25, 2012, Regular Meeting

b)  August 8, 2012, Regular Meeting

 

 

 

13-17

13-18

13-19

13-20

 

 2.

Termination from Rolls

a)  Termination of Monthly Allowance from the August 2012 Retirement Roll

b)  Termination of Monthly Allowance from the September 2012 Retirement Roll

c)  Termination of Ryan G. Osborne from the September 2012 Family Death Benefit Roll

d)  Termination of Richard Allen Pedersen from the September 2012 Permanent Total Disability Roll

 

 

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

 

 

 

3.

Report of Payment Authorizations

a)       July 2012

b)       August 2012

 

 

 

4.

Notice of Deaths for July 2012 and August 2012

 

 

 

5.

Investment Reports for July 2012 

a)      Summary of Investment Returns as of July 31, 2012

b)      Market Value of Investments by Fund and Month as of July 31, 2012

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care                 Fund as of July 31, 2012

d)      Summary of Contract Expirations

 

 

 

6.

Investment Reports for August 2012 

a)      Summary of Investment Returns as of August 31, 2012

b)      Market Value of Investments by Fund and Month as of August 31, 2012

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care                 Fund as of August 31, 2012

d)      Summary of Contract Expirations

 

 

 

7.

Report on Status of Insurance as of September 10, 2012

 

 

 

8.

Report on Due Diligence On-Site Visit to Earnest Partners

 

 

 

9.

Correspondence from Mayor’s Office Regarding Potential Investments

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

13-21

10.

Presentation by The Segal Company - Annual Actuarial Valuation of the Retirement Fund as of July 1, 2012; Discussion and Possible Action

 

 

 

11.

Discussion of New Government Accounting Standards Board Employer Reporting Requirements; and Possible Action

 

 

13-22

12.

Discussion of the Annual Transfer of Funds from the Reserve for Investment Gains and Losses Account to the General Reserve Account; and Possible Action

 

 

13-23

13.

Discussion of Absolute Return Investment Guidelines; and Possible Action

 

 

 

14.

Discussion of Draft Request for Proposal for Absolute Return Manager(s); and Possible Action

 

 

13-24

15.

Discussion of Solicitation of Consent from Mesa West Capital, LLC; and Possible Action

 

 

13-25

16.

Ratification of Board’s Action to Extend the Contract with Ice Miller, LLP, for Tax Advice Services; and Possible Action

 

 

 

17.

Discussion of Request from Board Member to Attend Conference; and Possible Action

 

 

 

18.

Presentation by Pension Consulting Alliance – First Quarter Private Equity Performance Review

 

 

 

19.

Presentation by Pension Consulting Alliance – Second Quarter Performance Review

 

 

 

20.

Presentation by Pension Consulting Alliance – Second Quarter Real Return Performance Review

 

 

 

21.

Annual Presentation by J.P. Morgan Asset Management Company – Core Fixed Income Manager

 

 

 

22.

Annual Presentation by Wells Capital Management Company – Core Fixed Income Manager

 

 

 

23.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

 

24.

FUTURE AGENDA ITEMS

 

       

 

 

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 September 21, 2012, at 8:30 a.m.