BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

NOVEMBER 12, 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 November 12, 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

 

 

 

 

15-25

15-26

15-27

1.

Termination from Rolls

a)  Termination of William J. Gropp from the September 2014 Permanent Total Disability Roll

b)  Termination of Richard L. Head from the September 2014 Permanent Total Disability Roll

c)  Termination of Monthly Allowance from the November 2014 Retirement Roll

 

 

 

2.

Investment Reports for September 2014

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

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

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

 

 

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

 

 

 

 

 

 

3.

Report on MFS Institutional Advisors, Inc., On-Site Due Diligence Visit

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

15-28

4.

Discussion of Designation of Trustee for Incompetents for William R. Groner; and Possible Action

 

 

15-29

5.

Discussion of the Guidelines for the Election of Active Member Representatives to the Retirement Board; and Possible Action

 

 

 

15-30

 

6.

Presentation by Segal Consulting

a)  Governmental Accounting Standards (GAS) 67 Actuarial Valuation of the Insured Lives Death Benefit Fund for Noncontributing Members as of June 30, 2014; Discussion and Possible Action

b)  Governmental Accounting Standards (GAS) 27 Disclosure of the Insured Lives Death Benefit Fund for Noncontributing Members as of June 30, 2014; Discussion and Possible Action

 

 

15-31

7.

Change in the Investment Return Assumption for Funding Reviews for the Death Benefit and Disability Funds; Discussion and Possible Action

 

 

 

8.

Discussion of Request for Proposal Responses for the U.S. Bank Loans Mandate; and Possible Action

 

 

15-32

9.

Discussion of Performance of Western Asset Management Company – Global Inflation Linked Securities Manager; and Possible Action

 

 

15-33

10.

Discussion of JP Morgan Strategic Property Fund – Real Estate Manager; and Possible Action

 

 

 

11.

Annual Presentation by Morgan Stanley AIP – Hedge Fund of Funds Manager

 

 

 

12.

Annual Presentation by GAM – Hedge Fund of Funds Manager

 

 

 

13.

Presentation by Courtland Partners, Ltd. – 2014 Second Quarter Real Estate Performance Report

 

 

15-34

14.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.81 TO CONSIDER THE PURCHASE OF ONE PARTICULAR, SPECIFIC PENSION FUND INVESTMENT AND POSSIBLE BOARD ACTION

 

 

15-35

15.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.81 TO CONSIDER THE PURCHASE OF ONE PARTICULAR, SPECIFIC PENSION FUND INVESTMENT AND POSSIBLE BOARD ACTION

 

 

REPORTS FOR REFERENCE

 

 

16.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

17.

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 November 7, 2014, at 4:00 p.m.