BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

FEBRUARY 28, 2018 – 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 February 28, 2018, 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 January 24, 2018, Regular Meeting

 

 

18-67

18-68

 

2.

a)  Termination of Monthly Allowance from the February 2018 Retirement Roll

b)  Termination of Harry D. Underwood from the February 2018 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 January 2018

 

 

 

4.

Notice of Deaths for January 2018

 

 

 

5.

Investment Reports for December 2017

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

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

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

 

 

 

6.

Summary of Contract Expirations for February 2018

 

 

 

7.

Report on Status of Insurance for February 2018

 

 

 

8.

Evaluation of City Attorney Services for the Period of October 1, 2017 through December 31, 2017

 

 

 

9.

Presentation by Pension Consulting Alliance, LLC – 2017 Third Quarter Private Equity Performance Report

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

18-69

 

10.

Discussion of July 1, 2018, Annual Cost of Living Adjustment for Eligible Recipients of Monthly Retirement Plan Benefits; and Possible Action

 

 

18-70

18-71

18-72

18-73

11.

Discussion of Adoption of Approved Amendments to the Water and Power Employees’ Retirement Plan

 

 

18-74

 

12.

Discussion of Investment Focused Recommendations in the Management Audit of the Los Angeles Department of Water and Power Employees’ Retirement Plan

 

 

18-75

 

13.

Discussion of Contract Extension for Blackrock Institutional Trust Company, International Developed Passive Core Equity; and Possible Action

 

 

18-76

 

14.

Discussion of Contract Extension for MFS Investment Management, International Developed Value Equity; and Possible Action

 

 

18-77

 

15.

Discussion of Organizational Change at JP Morgan Investment Management, Inc.; and Possible Action

 

 

 

16.

Presentation by Courtland Partners – 2018 Real Estate Strategic Plan

 

 

17.

Presentation by Courtland Partners – 2017 Third Quarter Real Estate Performance Report

 

18.

Annual Presentation by Earnest Partners – Domestic Small-Cap Value Equity Manager

 

19.

Annual Presentation by Emerald Advisers, Inc. – Domestic Small-Cap Growth Equity Manager

 

18-78

20.

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

 

 

 

21.

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)

 

 

 

22.

Investment Reports for November 2017

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

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

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

 

 

 

23.

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

24.

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 February 23, 2018.