BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

JULY 26, 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 July 26, 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 of July 12, 2017, Regular Meeting

 

 

18-07

18-08

 

2.

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

b)  Termination of Ricardo A. Aragon from the June 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 for June 2017

 

 

 

4.

Notice of Deaths for June 2017

 

 

 

5.

Summary of Contract Expirations

 

 

 

6.

Report of Status of Insurance as of July 26, 2017

 

 

 

7.

Report on Neuberger Berman – Extended Global Credit - On Site Due Diligence Visit

 

 

 

8.

Report on The Northern Trust Company – On Site Due Diligence Visit

 

 

 

9.

Articles of Interest

a) Real Estate Industry Article – PERE News, Dated July 17 2017

b) Transparent California Press Release – DWP trio cleared over $1 million in pension pay, new data shows – Dated July 17, 2017

c) LADWP Press Release – Fact Check: Transparent CA Misleads on LADWP Pension Recipient & Pension System, Dated July 17, 2017

d) L.A. Daily News – LADWP paid out $435 million in pension benefits last year, watchdog says, Dated July 17, 2017

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

 

10.

2017 Management Audit of the Water and Power Employees’ Retirement Plan

 

 

18-09

11.

Consideration of Designation of Trustee for Incompetents for Lupe Sornoso; Discussion and Possible Action

 

 

 

12.

Annual Presentation by Zeno Consulting Group – Trading Cost Analysis Provider

 

 

 

13.

Presentation by Pension Consulting Alliance, LLC – 2016 Fourth Quarter Private Equity Performance Report

 

 

 

14.

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)

 

 

 

15.

Investment Reports for May 2017

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

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

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

 

 

 

16.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

17.

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 July 21, 2017, at 8:30 a.m.