BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

APRIL 13, 2016 – 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 April 13, 2016, 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 the Minutes of March 9, 2016

 

 

16-71

 

2.

Termination of Monthly Allowance from the March 2016 Retirement Roll

 

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

 

 

 

3.

Report of Payment Authorizations for February 2016

 

 

 

4.

Notice of Deaths for February 2016

 

 

 

5.

Investment Reports for February 2016

a)      Summary of Investment Returns as of February 29, 2016

b)      Market Value of Investments by Fund and Month as of February 29, 2016

c)      Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of February 29, 2016

d)      Summary of Contract Expirations

 

 

 

6.

Report on Status of Insurance as of March 22, 2016

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

 

7.

Discussion of Request For Proposal Responses for External Auditor; and Possible Action

 

16-72

8.

Discussion of Report from City Attorney for Request for Proposal for Outside Investment and Fiduciary Counsel; and Possible Action

 

 

16-73

9.

Discussion of Contract Extension for T. Rowe Price Associates, Inc., Large-Cap Value Equity; and Possible Action

 

 

16-74

10.

Discussion of Contract Extension for Fidelity Institutional Asset Management International Developed Growth Equity; and Possible Action

 

 

16-75

11.

Discussion of Contract Extension for Blackrock Institutional Trust Company, N.A. Domestic Large Cap Core Equity; and Possible Action

 

 

16-76

12.

Discussion of Contract Extension for Wells Capital Management, Inc., Principal Protection; and Possible Action

 

 

16-77

13.

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

 

 

 

14.

Annual Presentation by Fred Alger Management, Inc. – Large Cap Growth Manager

 

 

 

 

15.

Annual Presentation by T. Rowe Price Associates, Inc. – Large-Cap Growth Manager

 

 

16.

Presentation by RVK, Inc. - Post Transition – Interim Targets Rebalance

 

 

 

 

17.

Presentation by RVK, Inc. - Emerging Manager Program Education

 

 

 

 

18.

Presentation by RVK, Inc. - Hedge Fund Structure

 

 

 

 

19.

Discussion of Selection of Vendor Finalist for Scanning of Active and Retired Member Files; and Possible Action

 

 

 

 

20.

CLOSED SESSION PURSUANT TO SUBDIVISIONS (a) AND (d)(1) OF GOVERNMENT CODE SECTION 54956.9 to Confer with Legal Counsel Regarding Pending Litigation, in the Following Related Cases, Which are Consolidated in the United States District Court, Southern District of New York:

 

(1) Deutsche Bank Trust Company Americas et al. v. First Republic Bank et al. (Case No. 1:11:cv-09572-WHP)

 

(2) William A. Niese, et al. v. Chandler Trust No. 1, et al. (Case No. 1:12-cv00554-WHP)

 

(3) The Official Committee of Unsecured Creditors v. Fitzsimmons, et al. (Case No. 1:12:cv-02652-WHP)

 

 

 

21.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

22.

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 April 8, 2016, at 8:30 a.m.