BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

REGULAR MEETING AGENDA

 

February 26, 2020 – 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 26, 2020, 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 Regular Meeting Minutes of January 22, 2020

 

 

 

20-41

20-42

2.

Termination of Monthly Allowance

a)   Termination of Monthly Allowance from the January 2020 Retirement Roll

b)   Termination of Monthly Allowance from the February 2020 Retirement Roll

 

 

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

 

 

 

3.

Report of Payment Authorizations for January 2020

 

 

 

4.

Notice of Deaths for January 2020

 

 

 

5.

Summary of Contract Expirations for February 2020

 

 

 

6.

Report on Status of Insurance for February 2020

 

 

 

7.

Investment Reports for December 2019

a)  Summary of Investment Returns as of December 31, 2019

b)  Market Value of Investments by Fund and Month as of December 31, 2019

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of December 31, 2019

 

 

 

8.

Report on Real Estate Investment in Prologis Targeted U.S. Logistics Fund, L.P.

 

 

 

9.

Articles of Interest

a) Fin News Article – 5 Questions with Jeremy Wolfson, CIO of the Los Angeles Water & Power Employees Retirement Plan dated January 27, 2020

 

 

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

 

 

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

 

Reso

 

 

20-43

 

 

10.

Discussion of July 1, 2020, Annual Cost of Living Adjustment for Eligible Recipients of Monthly Retirement Plan Benefits; and Possible Action

 

 

 

11.

Discussion of Plan’s Protocol Pertaining to the Distribution of Members’ Personal Information

 

 

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

 

 

 

12.

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

 

 

13.

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

 

 

14.

Presentation by StepStone Group – 2020 Private Equity Strategic Plan

 

 

15.

Presentation by StepStone Group – 2020 Real Estate Strategic Plan

 

 

16.

Presentation by StepStone  – 2019 Third Quarter Private Equity Portfolio Performance Report

 

 

17.

Presentation by StepStone Group - 2019 Third Quarter Real Estate Portfolio Performance Report

 

 

18.

Presentation by RVK, Inc. – 2019 Fourth Quarter Portfolio Performance Report

 

 

19.

Presentation by RVK, Inc. – 2019 Fourth Quarter Real Return Portfolio Performance Report

 

 

20.

Presentation by RVK, Inc. – 2019 Fourth Quarter Hedge Fund-of-One Portfolio Performance Report

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

 

CONSIDERATION OF FUTURE AGENDA ITEMS

 

 

 

 

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

 

Reso

 

 

20-44

21.

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

 

 

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 21, 2020.