BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

SEPTEMBER 24, 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 September 24, 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

 

 

15-13

 

2.

Termination of Monthly Allowance from the September 2014 Retirement Roll

 

 

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

 

 

15-14

 

3.

Report of Payment Authorizations for August 2014

 

 

 

4.

Notice of Deaths for August 2014

 

 

 

5.

Investment Reports for August 2014

a)      Summary of Investment Returns as of August 31 2014

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

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

d)      Summary of Contract Expirations

 

 

 

6.

Report on Status of Insurance as of September 17, 2014

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

15-15

 

 

7.

Presentation by Segal Consulting of Reports Regarding the Retirement Fund Valuation; Discussion and Possible Action

a)      Annual Actuarial Valuation of the Retirement Fund as of July 1, 2014

b)      Increase in Employer Required Contributions for Fiscal Year 2014/15 to Reflect the Assumption Changes

 

 

15-16

8.

Presentation by Segal Consulting of the Retirement Fund Governmental Accounting Standard (GAS) 67 Actuarial Valuation as of June 30, 2014; Discussion and Possible Action

 

 

15-17

 

9.

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

 

 

15-18

 

10.

Discussion of Retirement Plan Office Budget for Fiscal Year Ending 2015/2016; and Possible Action

 

 

15-19

 

11.

Discussion to Extend the Contract with the Plan’s Commission Recapture Provider; and Possible Action

 

 

 

12.

Presentation – Demonstration of Penfax System Functionalities

 

 

 

13.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

14.

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 19, 2014, at 8:30 a.m.