BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

NOVEMBER 9, 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 November 9, 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

a)   October 12, 2016, Regular Meeting

b)  October 14, 2015, Regular Meeting – Clerical Correction

 

 

17-23

 

2.

Termination of Monthly Allowance from the October 2016 Retirement Roll

 

 

3.

Resolution No. 17-10 to Adopt Amendments to the Water and Power Employees’ Retirement Plan to Address Issues Encountered in the Administration of Tier 2 Provisions - Clerical Correction

 

 

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

 

 

 

4.

Report of Payment Authorizations for September 2016

 

 

 

5.

Notice of Deaths for September 2016

 

 

 

6.

Investment Reports for September 2016

a)   Summary of Investment Returns as of September 30, 2016

b)  Market Value of Investments by Fund and Month as of September 30, 2016

c)   Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of September 30, 2016

 

 

 

7.

Summary of Contract Expirations

 

 

 

8.

Report on Status of Insurance as of October 25, 2016

 

 

 

9.

Manager Presentation Schedule for 2017

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

17-24

10.

 

 

Presentation by Segal Consulting of the Insured Lives Death Benefit Fund for Noncontributing Members, Governmental Accounting Standard Board 43/45 Information through June 30, 2016; and Possible Action

11.

Discussion of the Plan’s Annual Audit Report and Related Financial Statements as of June 30, 2016, Presented at the Audit Committee Meeting

 

17-25

12.

Follow-Up to Discussion Regarding Selection Process for Assistant Retirement Plan Manager

 

17-26

13.

Discussion of Organizational Change at Fidelity Institutional Asset Management; and Possible Action

 

17-27

14.

Discussion of Organizational Change at Delaware Investments; and Possible Action

 

15.

Discussion of Organizational Change at Courtland Partners; and Possible Action

 

16.

Presentation by Courtland Partners – 2016 Second Quarter Real Estate Performance

 

17.

Discussion of Post-Trade Transition Report by BlackRock Transition Management

 

18.

Presentation by RVK, Inc., Post Transition – Emerging Markets Transition

 

19.

Annual Presentation by GAM – Hedge Fund of Funds Manager

 

20.

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

 

17-28

21.

Discussion of Contract Amendment for Scanning of Retirement Board Records; and Possible Action

 

17-29

22.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.81 to Consider the Purchase of One Particular, Specific Pension Fund Investment; and Possible Action

 

 

 

23.

CLOSED SESSION – PURSUANT TO SUBDIVISIONS (a) AND (d)(1) OF GOVERNMENT CODE SECTION 54956.9 to Confer with, or Receive Advice from, Legal Counsel Regarding the Consolidated Class Action Against LendingClub Corporation Pending in the United States District Court, Northern District of California

 

 

 

24.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54957(b)(1) to Consider Board Review of the Evaluation of City Attorney Services for the Period July 1, 2016 through September 30, 2016; and Possible Action

 

 

REPORTS FOR REFERENCE  (Items of Interest to the Board on which no action is taken)

 

 

 

25.

Investment Reports for August 2016

a)   Summary of Investment Returns as of August 31, 2016

b)  Market Value of Investments by Fund and Month as of August 31, 2016

c)   Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care      Fund as of August 31, 2016

 

 

 

26.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

27.

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 4, 2016, at 8:30 a.m.