RETIREMENT BOARD OF ADMINISTRATION

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA  

 

OCTOBER 9, 2013 – 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 October 9, 2013, 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 10, 2013, Regular Meeting

b)  August 14, 2013, Regular Meeting

 

 

 

14-11

14-12

14-13

 

2.

Termination from Rolls

a)  Termination of Monthly Allowance from the August 2013 Retirement Roll

b)  Termination of Monthly Allowance from the September 2013 Retirement Roll

c)  Termination of Carlo Joseph Diciolla from the August 2013 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 2013

b)       August 2013

 

 

 

4.

Notice of Deaths

a)       July 2013

b)       August 2013

 

 

 

5.

Investment Reports for July 2013

a)      Summary of Investment Returns as of July 31, 2013

b)      Market Value of Investments by Fund and Month as of July 31, 2013

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care                 Fund as of July 31, 2013

d)      Summary of Contract Expirations 

  

 

 

6.

Investment Reports for August 2013

a)      Summary of Investment Returns as of August 31, 2013

b)      Market Value of Investments by Fund and Month as of August 31, 2013

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care                 Fund as of August 31, 2013

d)      Summary of Contract Expirations 

 

 

 

7.

Report on Status of Insurance as of August 12, 2013

 

 

 

8.

Report on Hancock Timber Resource Group, Inc. On-Site Due Diligence Visit

 

 

 

9.

Report on Pension Consulting Alliance, Inc. On-Site Visit Due Diligence Visit

 

 

 

10.

Morgan Stanley AIP Hedge Funds On-Site Visit – Report from Pension Consulting Alliance, Inc.

 

 

 

11.

Global Asset Management On-Site Visit – Report from Pension Consulting Alliance, Inc.

 

 

 

12.

Report on Glass Lewis Ownership Structure

 

 

 

13.

Report on Organizational Change at Heitman Real Estate Securities, LLC

 

 

 

14.

Presentation by Pension Consulting Alliance, Inc. – 2013 Second Quarter Performance Review

 

 

 

15.

Presentation by Pension Consulting Alliance, Inc. – 2013 Second Quarter Real Return Performance Review

 

 

 

16.

Presentation by Pension Consulting Alliance, Inc. – 2013 First Quarter Private Equity Performance Report

 

 

 

17.

Annual Presentation by Wells Capital Management, Inc. – Fixed-Income Core Manager

 

 

 

18.

Annual Presentation by J.P. Morgan Investment Management, Inc. – Fixed-Income Core Manager

 

 

 

19.

Annual Presentation by Blackrock Investment Management , LLC – Passive International Developed Manager

 

 

 

20.

Annual Presentation by Pyramis Global Advisors – Active International Developed Equity Manager

 

 

 

21.

Annual Presentation by MFS Institutional Advisors, Inc. – Active International Developed Value Equity Manager

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

14-14

22.

Presentation by The Segal Company of the Annual  Actuarial Valuation of the Retirement Fund as of July 1, 2013; Discussion and Possible Action

 

 

14-15

23.

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

 

14-16

14-17

 

24.

Discussion of Contract with Nossaman LLP and Foster Pepper PLLC; and Possible Action

 

14-18

25.

Discussion of Guidelines for Real Estate Manager Evaluation; and Possible Action

 

 

14-19

26.

Discussion of Organizational Changes at JP Morgan Strategic Property Fund; and Possible Action

 

 

14-20

27.

Discussion of Global Real Estate Investment Trust Investment Guidelines; and Possible Action

 

 

14-21

28.

Discussion of International Equity Investment Guidelines; and Possible Action

 

 

14-22

29.

Discussion of Public Market Investment Guidelines; and Possible Action

 

 

14-23

14-24

 

30.

Ratification of the Board’s Selection of Two Hedge Fund of Fund Managers; and Possible Action:

 

 

14-25

31.

Ratification of the Board’s Selection of the High Yield Fixed Income Manager; and Possible Action

 

 

 

32.

Report on Discussion of Audit Program for Fiscal Year-End June 30, 2013, Presented to the Audit Committee on October 9, 2013

 

 

 

33.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

34.

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 October 4, 2013, at 8:30 a.m.