BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

JUNE 28, 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 June 28, 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)  April 12, 2017, Regular Meeting – Clerical Correction

b)  May 10, 2017, Regular Meeting

 

 

17-64

17-65

17-66

 

2.

a)  Termination of Monthly Allowance from the May 2017 Retirement Roll

b)  Termination of Monthly Allowance from the June 2017 Retirement Roll

c)  Termination of Jose L. Esparza from May 2017 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)  April 2017

b)  May 2017

 

 

 

4.

Notice of Deaths

a)  April 2017

b)  May 2017

 

 

 

5.

Investment Reports for April 2017

a)  Summary of Investment Returns as of April 30, 2017

b)  Market Value of Investments by Fund and Month as of April 30, 2017

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of April 30, 2017

 

 

 

6.

Summary of Contract Expirations

 

 

 

7.

Report on Status of Insurance as of May 31, 2017

 

 

 

8.

Evaluation of City Attorney Services for the Period January 1, 2017 through March 31, 2017

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

17-67

9.

Discussion of Contract Extension for Custodian Services; and Possible Action

 

 

17-68

10.

Discussion of Emerging Manager Program; and Possible Action

 

 

 

11.

Discussion of Outside Securities Monitoring and Litigation Counsel; and Possible Action

 

 

 

12.

Annual Presentation by Neuberger Berman Fixed Income, LLC – Extended Global Credit Manager

 

 

 

13.

Annual Presentation by Macquarie Investment Management (Formerly Delaware Investment Advisers) – Global Extended Credit Manager

 

 

 

14.

Annual Presentation by Pacific Asset Management – Active U.S. Bank Loans Manager

 

 

 

15.

Presentation by Courtland Partners – 2016 Fourth Quarter Real Estate Portfolio Performance Report

 

 

 

16.

Presentation by RVK, Inc. – Active/Passive Global Equity Training

 

 

 

17.

Presentation by RVK, Inc. – 2017 First Quarter Portfolio Performance Report

 

 

 

18.

Presentation by RVK, Inc. – 2017 First Quarter Real Return Portfolio Performance Report

 

 

17-69

19.

CLOSED SESSION – PURSUANT TO SUBDIVISIONS (a) AND (d)(1) OF GOVERNMENT CODE SECTION 54956.9 to Confer with, and/or Receive Advice from, Legal Counsel Regarding Pending Litigation, and Possible Board Action. Case: Morgan v. Board of Administration of the Water and Power Employees' Retirement Plan, et al. (Superior Court of California, County of Los Angeles, Case No. BS168466)

 

 

 

20.

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

 

 

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

 

 

 

21.

Investment Reports for March 2017

a)  Summary of Investment Returns as of March 31, 2017

b)  Market Value of Investments by Fund and Month as of March 31, 2017

c) Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of March 31, 2017

 

 

 

22.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

23.

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 June 23, 2017, at 8:30 a.m.