BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA  

 

DECEMBER 11, 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 December 11, 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

 

 

 

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

 

 

 

1.

Investment Reports for October 2013

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

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

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

d)      Summary of Contract Expirations 

 

 

 

2.

Report on Status of Insurance as of November 13, 2013

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

14-47

3.

Discussion of Recommendation to Adopt the Amendment to the Water and Power Employees’ Retirement Plan to Create a New Tier, to Suspend Reciprocity, and to Make Other Technical Changes; and Possible Action

 

 

 

14-48

14-49

14-50

4.

Annual Actuarial Valuations – Presentations by Segal Consulting

a)  Disability Fund as of July 1, 2013; Discussion and Possible Action

b)  Death Benefit Fund as of July 1, 2013; Discussion and Possible Action

c)  Governmental Accounting Standards Board Statement as of July 1, 2013; Discussion and Possible Action

 

 

14-51

5.

Discussion of Private Equity Investment Opportunity (Landmark); and Possible Action

 

 

14-52

6.

Discussion of Private Equity Investment Opportunity (CDR); and Possible Action

 

 

14-53

7.

Discussion of Extension of Contract for Custodian Services; and Possible Action

 

 

 

8.

Discussion of Report of the Plan’s Proxy Voting for 2013 – Presentation by Glass Lewis

 

 

 

9.

Discussion of Post-Trade Transition Report by Russell Implementation Services, Inc., and Pension Consulting Alliance, Inc.

 

 

 

10.

Annual Presentation by Western Asset Management Company – Global Inflation Linked Securities Manager

 

 

 

11.

Annual Presentation by Gateway Investment Advisers, LLC – Covered-Calls Manager

 

 

 

12.

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

 

 

13.

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

 

 

14.

Report on Plan’s Annual Audit Report and Related Financial Statements, as of June 30, 2013, Presented at the Audit Committee Meeting; and Possible Action

 

 

 

15.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

16.

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 December 6, 2013, at 8:30 a.m.