BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

DECEMBER 12, 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 December 12, 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 November 14, 2018, Regular Meeting

 

 

19-38

2.

Termination of Monthly Allowance from the November 2018 Retirement Roll

 

 

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

 

 

 

3.

Notice of Deaths for October 2018

 

 

 

4.

Investment Reports for October 2018

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

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

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

 

 

 

5.

Summary of Contract Expirations for November 2018

 

 

 

6.

Report on Status of Insurance for November 2018

 

 

 

7.

Articles of Interest

 

 

 

8.

Report on Earnest Partners – On-Site Due Diligence Visit

 

 

 

9.

Report on Invesco Advisers, Inc. – On-Site Due Diligence Visit

 

 

 

10.

Report on California Government Code Section 7514.7 Compliance

 

 

 

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

 

 

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

 

 

 

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

 

19-39

12.

CLOSED SESSION – PURSUANT TO GOVERNMENT CODE SECTION 54956.9(A)(1) TO CONFER WITH COUNSEL REGARDING PENDING LITIGATION IN TWO CASES; AND POSSIBLE BOARD ACTION

 

a)  IN RE: TRIBUNE COMPANY FRAUDULENT CONVEYANCE LITIGATION: DEUTSCHE BANK TRUST COMPANY AMERICAS, ET. AL., PLAINTIFFS V. FIRST REPUBLIC BANK, ET AL., DEFENDANTS [UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF NEW YORK, CONSOLIDATED MULTIDISTRICT ACTION 11 MD 2296 (WHP)]

 

b) OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF TRIBUNE COMPANY, PLAINTIFF, V. DENNIS FITZSIMMONS, ET AL., DEFENDANTS [UNITED STATES DISTRICT COURT, SOUTHERN DISTRICT OF NEW YORK, CIVIL ACTION NO. 12-CV-02652 (WHP)]

 

19-40

13.

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

 

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

 

Reso

 

 

 

19-41

19-42

14.

Discussion of Retirement Board Travel and Education

a) Retirement Board Travel and Education Policy; and Possible Action

b) 2019 Annual Travel and Education Guidelines; and Possible Action

 

19-43

15.

Discussion of Request to Approve Additional Funding for the Final Completion of Functionalities in the Integrated Pension System; and Possible Action

 

19-44

16.

Discussion of Contract Extension for T. Rowe Price Associates, Inc., Large-Cap Growth Equity; and Possible Action

 

19-45

17.

Discussion of Proxy Voting Policy Guidelines; and Possible Action

 

19-46

18.

Discussion of Request for Proposals for Outside Counsel with Expertise in Health Law and Data Privacy; and Possible Action

 

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

 

 

 

19.

Presentation by Simpson & Simpson, CPAs – Annual Audit Report and Related Financial Statements as of June 30, 2018

 

 

20.

Presentation by RVK, Inc. – ESG Education

 

 

21.

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

 

 

22.

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

 

 

23.

Presentation by StepStone – 2018 Second Quarter Private Equity Portfolio Performance

 

 

24.

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

 

 

25.

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

 

 

26.

Presentation by RVK, Inc. – 2018 Third 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 December 7, 2018.