BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

AUGUST 27, 2014 – 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 August 27, 2014, 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.

Approval of Minutes of  August 13, 2014, Regular Meeting

 

 

15-08

 

2.

Termination of Monthly Allowance from the July 2014 Retirement Roll

 

 

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

 

 

 

3.

Report of Payment Authorizations for July 2014

 

 

 

4.

Notice of Deaths for July 2014

 

 

 

5.

Investment Reports for July 2014

a)      Summary of Investment Returns as of July 31, 2014

b)      Market Value of Investments by Fund and Month as of July 31, 2014

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of July 31, 2014

d)      Summary of Contract Expirations

 

 

 

6.

Report on Status of Insurance as of August 18, 2014

 

 

 

7.

Retirement System Status

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

 

8.

Discussion of Nominations and Appointment of Officers of the Retirement Board of Administration Water and Power Employees’ Retirement Plan; and Possible Action

 

 

9.

Report on Discussion of Audit Program for Fiscal Year-End June 30, 2014, Presented to the Audit Committee on August 27, 2014

 

 

 

10.

Presentation by Simpson & Simpson, Certified Public Accountants – Requirements and Impact of Governmental Accounting Standards Board (GASB) Statement Number 67: Financial Reporting for Pension Plans

 

 

 

11.

Proposed Changes to Insurance Requirements for Contracts Issued by the Retirement Board; and Possible Action – Presented by Michael Salazar

 

 

 

12.

Presentation by Pension Consulting Alliance, Inc. – 2014 Second Quarter Performance Report

 

 

 

13.

Securities Litigation Monitoring Process - Presented by Staff

 

 

 

 

 

 

15-09

14.

Discussion of Proposed Plan Amendments; and Possible Action

a)      Eliminate the Reserve for Investment Gains and Losses

b)      Add Medical Professionals to Certify Time Off for Temporary and Extended Temporary Disability Benefits

c)      Actuarial Factors Used to Calculate Optional Benefits and the Interest Crediting Rate Applied to Member Contribution Accounts

 

 

 

15.

Discussion of Retirement Plan Manager Selection Process; and Possible Action

 

 

REPORTS FOR REFERENCE

 

 

16.

Investment Reports for June 2014

a)      Summary of Investment Returns as of June 30, 2014

b)      Market Value of Investments by Fund and Month as of June 30, 2014

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of June 30, 2014

 

 

 

17.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

18.

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 August 21, 2014, at 8:30 a.m.