BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

SEPTEMBER 26, 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 September 26, 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.

 


GENERAL PUBLIC COMMENTS ON MATTERS WITHIN THE BOARD’S JURISDICTION

 

CONSENT ITEMS (Approval of routine items; action taken on entire consent agenda and treated as separate vote on each)

Reso

 

 

 

 

1.

Approval of the Minutes for September 12, 2018, Regular Meeting

 

 

19-25

 

2.

Termination of Monthly Allowance from the September 2018 Retirement Roll

 

 

REPORTS TO THE BOARD (Items of Interest to the Board on which no action is taken)

 

 

 

3.

Report of Payment Authorizations for August 2018

 

 

 

4.

Notice of Deaths for August 2018

 

 

 

5.

Summary of Contract Expirations

 

 

 

6.

Report on Status of Insurance as of September 2018

 

 

 

7.

Articles of Interest

 

 

 

8.

Report on the Realized Investment Gains of the Retirement Fund for Fiscal Year Ended June 30, 2018

 

 

 

9.

Report on Private Equity Investment in Vista Equity Partners Fund Vll, L.P.

 

 

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

 

 

 

10.

Investment Reports for July 2018

a)  Summary of Investment Returns as of July 31, 2018

b)  Market Value of Investments by Fund and Month as of July 31, 2018

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of July 31, 2018

 

 

CLOSED SESSION (Items for discussion and action by the Board)

 

Reso

 

 

 

11.

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

 

 

ITEMS FOR BOARD ACTION (Items for discussion and action by the Board)

 

Reso

 

 

 

 

 

19-26

 

 

19-27

12.

Presentation by Segal Consulting of Actuarial Fundamental Concepts and Annual Actuarial Valuations

a)  Annual Actuarial Valuations Overview

b) Retirement Plan Actuarial Valuation as of July 1, 2018, Including the Recommended Department Contribution Rate and the Governmental Accounting Standards 67 Valuation; Discussion and Possible Action

c) Death Benefit Fund Governmental Accounting Standards 74 Actuarial Valuation as of June 30, 2018; Discussion and Possible Action

 

19-28

13.

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

 

19-29

14.

Discussion of Contract Extension for Dimensional Fund Advisors, Global Real Estate Securities Mandate; and Possible Action

 

19-30

15.

Discussion of Updates to the Plan’s Investment Policy; and Possible Action

 

PRESENTATIONS (Items for discussion on which no action is required by the Board)

 

 

 

16.

Presentation by Segal Consulting of the Actuarial Standard of Practice Number 51: Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions

 

 

17.

Discussion of Management Audit Letter

 

 

18.

Discussion of Executive Staff Selection

 

 

19.

Discussion of International Small-Cap Equity Request for Proposal

 

 

20.

Presentation by RVK, Inc. – 2018 Second Quarter Real Return Portfolio Performance Report

 

 

21.

Presentation by RVK, Inc. – 2018 Second Quarter Hedge Fund of Funds Portfolio Performance Report

 

 

22.

Presentation by RVK, Inc. – 2018 Second Quarter Portfolio Performance Report

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

CONSIDERATION OF 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 September 21, 2018.