BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

REGULAR MEETING AGENDA

September 8, 2021 – 9:00 A.M.

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

 

A meeting of the Board of Administration of the Water and Power Employees’ Retirement Plan will be held on September 8, 2021, 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.

 

Due to the COVID-19 pandemic, there are some changes to the meeting. Pursuant to the Mayor’s most recent Safer at Home order, dated April 10, 2020, the Retirement Board will be meeting remotely and the Boardroom will be closed to the public.

 

Members of the public who wish to listen to the Retirement Board meeting live can do so by calling the following telephone number at any time during the meeting:

 

·        (213) 306-3065 and entering 24589476# when prompted for a meeting ID number.

 

Members of the public who wish to offer public comment may do so telephonically by calling (213) 306-3065 and entering 1462137018# when prompted for a meeting ID number. The public comment phone line will be accessible starting at 8:45 a.m.

 

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 August 25, 2021

 

 

2.

Travel Authority for Retirement Board Member LaTanya Bogin

 

 

3.

Travel Authority for Retirement Board Member Adolfo Felix

 

 

 

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

 

 

  4.

Investment Reports for July 2021

a)  Summary of Investment Returns as of July 31, 2021

b)  Market Value of the Retirement, Death, and Disability Funds and Retiree

Health Benefits Fund as of July 31, 2021

c)  Market Value of Investments by Fund and Month as of July 31, 2021

 

 

5.

Report on the Realized Investment Gains of the Retirement Fund for Fiscal Year Ended June 30, 2021

 

 

  6.

Articles of Interest

 

 

 

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

 

 

7.

Election of Vice President and Appointment of a Member to the Benefits Committee

22-06

8.

Discussion of Request for Approval to Increase the Budget Allocation for Tax Counsel Services for Fiscal Year 2021-2022; and Possible Action

 

22-07

9.

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

 

22-08

10.

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

 

22-09

11.

Discussion of Members Who Retire from Permanent Total Disability Status; and Possible Action

 

22-10

12.

Discussion of Executive Order N-08-21 as it Relates to the Bagley-Keene Act or
Brown Act

 

 

 

13.

Discussion of Water and Power Employees’ Retirement Plan Policies; and Possible Action

a)     Revision to the Travel and Education Policy

 

 

b)     Revision to the Funding Policy (format only)

c)     Adoption of the Rules of the Board of Administration

d)     Adoption of the Delegation of Authority Policy

e)     Adoption of Benefits Committee Charter

f)       Adoption of the Trustee for Incompetents Policy

 

 

 

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

 

 

14.

Annual Presentation by J.P. Morgan Investment Management, Inc. – Principal Protection Manager

 

 

15.

Annual Presentation by Wells Capital Management, Inc. – Principal Protection Manager

 

 

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

CONSIDERATION OF FUTURE AGENDA ITEMS

 

 


 

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

 

Reso

 

 

 

22-11

16.

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 September 3, 2021.