RETIREMENT BOARD OF ADMINISTRATION

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

SPECIAL MEETING AGENDA  

 

MAY 15, 2013 – 8:30 A.M.

 

ROOM 1555-H, 111 NORTH HOPE STREET, LOS ANGELES, CA 90012

 

 


 

A SPECIAL meeting of the Retirement Board will be held on May 15, 2013, convening at 8:30 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 each treated as a separate vote)

Reso

 

 

1.

Approval of Minutes – March 27, 2013, Regular Retirement Board Meeting

 

 

 

13-73

13-74

2.

Termination from Rolls

a)  Monthly Allowance from the April 2013 Retirement Roll

b)  Monthly Allowance from the May 2013 Retirement Roll

 

 

RECEIVED AND FILED     (Items of Interest to the Board on which no action is taken)

 

 

 

 3.

Report of Payment Authorizations for March 2013

 

 

 

 4.

Notice of Deaths -  

a)  March 2013

b)  April 2013

 

 

 

 5.

Investment Reports for March 2013

a)  Summary of Investment Returns as of March 31, 2013

b)  Market Value of Investments by Fund and Month as of March 31, 2013

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of March 31, 2013

d)  Summary of Contract Expirations

 

 

 

 6.

Report on Status of Insurance as of April 8, 2013

 

 

 

 7.

Report on Organizational Changes at Western Asset Management Company

 

 

 

 8.

BlackRock Asset Management, Large Cap Core Manager, Annual Report

 

 

 

 9.

Fred Alger Management, Inc., Large-Cap Growth Manager – Annual Report

 

 

 

10.

MFS, Large Cap Value Manager - Annual Report

 

 

 

11.

T. Rowe Price Investment Services, Large Cap Value Manager - Annual Report

 

 

 

12.

T. Rowe Price Associates, Inc., Large Cap Growth Manager – Annual Report

 

 

REGULAR    (Items for discussion and action by the Board)

 

 

Reso

 

 

13-75

13.

Discussion of Real Estate Investment Opportunity; and Possible Action 

 

 

13-76

14.

Discussion of Organizational Change at Pyramis Global Advisors; and Possible Action

 

 

13-77

15.

Discussion of Contract with Wells Capital Management, Inc., Fixed Income Core Manager; and Possible Action

 

 

13-78

16.

Discussion of Contract with T. Rowe Price, Large Cap Value Manager; and Possible Action

 

 

13-79

17.

Ratification of Board’s Action to Hire Commodity Manager Invesco Advisers, Inc.; Discussion and Possible Action  

 

 

13-80

18.

Discussion of Invesco Advisers, Inc., Health Plan Fund Structure; and Possible Action 

 

 

 

19.

Presentation by Pension Consulting Alliance, Inc. – Fixed Income Structural Review

 

 

13-81

20.

Discussion of Contract with Pyramis Global Advisors-International Developed Growth Equity Manager; and Possible Action

 

 

13-82

21.

Discussion of Contract with BlackRock Investment Management, LLC., Large-Cap Core Passive Manager; and Possible Action

 

 

13-83

22.

Discussion of Performance by MFS Institutional Advisors, Inc.; and Possible Action

 

 

 

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 May 10, 2013, at 8:30 a.m.