BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

JANUARY 11, 2017 – 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 January 11, 2017, 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, Special Meeting

b)  November 9, 2016, Regular Meeting

 

 

17-30

17-31

17-32

17-33

2.

a)  Termination of Monthly Allowance from the November 2016 Retirement Roll

b)  Termination of Monthly Allowance from the December 2016 Retirement Roll

c)  Termination of Roseo Rosales Cuevas from November 2016 Permanent Total Disability Roll

d)  Termination of Glenn E. Mussard from December 2016 Permanent Total Disability Roll

 

 

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

 

 

 

3.

Report of Payment Authorizations

a)  October 2016

b)  November 2016

 

 

 

4.

Notice of Deaths

a)  October 2016

b)  November 2016

 

 

 

5.

Investment Reports for October 2016

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

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

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

d) Summary of Contract Expirations

 

 

6.

Investment Reports for November 2016

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

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

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

d) Summary of Contract Expirations

 

 

 

7.

Report on Status of Insurance as of December 28, 2016

 

 

 

8.

Board of Administration of the Water and Power Employees’ Retirement Plan – 2017 Schedule of Regular Meetings

 

 

 

9.

Water and Power Employees’ Retirement Plan – 2017 Calendar of Retirement Seminars

 

 

 

10.

Water and Power Employees’ Retirement Plan – 2017 Calendar of Retirement Deadlines

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

11.

Annual Audit Report and Related Financial Statements of the Water and Power Employees’ Retirement Plan as of June 30, 2016, as Presented at the Audit Committee Meeting on December 21, 2016

 

 

17-34

17-35

12.

Annual Actuarial Valuations – Presentation by Segal Consulting

a)  Disability Fund as of July 1, 2016; Discussion and Possible Action

b)  Death Benefit Fund as of July 1, 2016; Discussion and Possible Action

 

 

13.

Discussion of Workload Statistics Report of the Retirement Plan Office Benefits Sections for Fiscal Year 2015-2016

 

 

17-36

14.

Discussion of Retirement Plan Office Budget for Program Year 2017-2018; and Possible Action

 

 

15.

Discussion of Selection Process for Assistant Retirement Plan Manager

 

 

16.

Discussion of Organizational Change at Courtland Partners

 

 

17-37

17.

Discussion of Request for Proposal for Real Estate Consulting Services; and Possible Action

 

 

18.

Annual Presentation by Glass Lewis & Co., LLC – Proxy Service Provider

 

19.

Annual Presentation by Western Asset Management Company – Global Inflation Linked Securities Manager

 

20.

Presentation by Pension Consulting Alliance – Second Quarter Private Equity Performance Report

 

21.

Presentation by RVK, Inc. – 2016 Third Quarter Portfolio Performance Report

 

22.

Presentation by RVK, Inc. – 2016 Third Quarter Real Return and Hedge Funds Portfolio Performance Report

 

17-38

23.

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

 

 

 

24.

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

 

 

 

25.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

26.

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 January 6, 2017, at 8:30 a.m.