BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

MAY 13, 2015 – 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 May 13, 2015, 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 of April 8, 2015, Regular Meeting

 

 

15-63

15-64

15-65

 

2.

a) Termination of Monthly Allowance from the April 2015 Retirement Roll

b) Termination of Frida Budnyatsky from the March 2015 Permanent Total Disability Roll

c) Termination of Avelino B. Herrera from the March 2015 Permanent Total Disability Roll

 

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

 

 

 

3.

Report of Payment Authorizations for March 2015

 

 

 

4.

Notice of Deaths for March 2015

 

 

 

5.

Investment Reports for March 2015

a) Summary of Investment Returns as of March 31, 2015

b) Market Value of Investments by Fund and Month as of March 31, 2015

c) Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of March 31, 2015

d) Summary of Contract Expirations

 

 

 

6.

Report on Status of Insurance as of April 8, 2015

 

 

 

7.

Report on BlackRock Institutional Trust Company, N.A. - On-Site Due Diligence Visit

 

 

 

8.

Report on Wells Capital Management, Inc. – Core Fixed Income - On-Site Due Diligence Visit

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

 

15-66

9.

Discussion of Proposed Plan Amendments to Add Medical Professionals Who Can Provide Medical Certification of Temporary Disability and Extended Temporary Disability; and Possible Action

 

 

15-67

10.

Discussion of Waiver of Second Certificate of Permanent and Total Disability Under Certain Circumstances; and Possible Action

 

 

15-68

11.

Discussion of Proposed Plan Amendments to Change the Regular Interest Rate; and Possible Action

 

 

15-69

12.

Discussion of Proposed Plan Amendments to Change the Mortality Table and Interest Rate Used in the Calculation of Retirement Allowances and Conversion to Optional Benefits Amounts; and Possible Action

 

 

15-70

13.

Discussion of Authorization of Funds for Segal Consulting to Complete Special Assignments Related to the Retirement Board Educational Session and the Pending Asset/Liability Study; and Possible Action

 

 

 

14.

Discussion of Request for Proposal for Outside Tax Counsel; and Possible Action

 

 

 

15.

Discussion of a New Monthly Summary of Investment Returns Report

 

 

15-71

16.

Discussion of Performance of Western Asset Management Company; and Possible Action

 

 

15-72

17.

Discussion of Contract Extension for Fred Alger Management, Inc., Large Cap Growth Equity; and Possible Action

 

 

 

18.

Annual Presentation by Vontobel Investment Management, Inc. – Emerging Markets Equity Manager

 

 

 

19.

Annual Presentation by Los Angeles Capital Management – Emerging Markets Equity Manager

 

 

 

20.

Presentation by Courtland Partners – 2014 Fourth Quarter Real Estate Performance Report

 

 

15-73

21.

Discussion of Electronic Distribution  of Retirement Board Meeting Documents; and Possible Action

 

 

 

22.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54957(b)(1) TO CONSIDER BOARD REVIEW OF THE CITY ATTORNEY ANNUAL PERFORMANCE EVALUATION

 

 

 

23.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

24.

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 May 8, 2015, at 8:30 a.m.