BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

SPECIAL MEETING AGENDA

 

October 2, 2019 – 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 October 2, 2019, 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 Special Meeting Minutes of August 21, 2019

 

 

20-15

 

2.

Termination of Monthly Allowance from the September 2019 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 2019

 

 

 

4.

Notice of Deaths for August 2019

 

 

 

5.

Summary of Contract Expirations for September 2019

 

 

 

6.

Report on Status of Insurance for September 2019

 

 

 

7.

Investment Reports for July 2019

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

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

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

 

 

 

8.

Report on the Realized Investment Gains of the Retirement Fund for Fiscal Year Ended June 30, 2019

 

 

 

9.

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

 

 

 

20-16

 

 

20-17

 

 

10.

Presentation by Segal Consulting of Annual Actuarial Valuations

a)    Retirement Plan Actuarial Valuation as of July 1, 2019, Including the Recommended Department Contribution Rate and the Governmental Accounting Standards 67 Valuation; Discussion and Possible Action

b)    Death Benefit Fund Governmental Accounting Standards 74 Actuarial Valuation as of June 30, 2019; Discussion and Possible Action

 

 

20-18

11.

Discussion of Budget Amendment for Asset/Liability and Allocation Studies; and Possible Action

 

 

20-19

12.

Discussion of Approval of Health and Data Privacy and Security Counsel; and Possible Action

 

 

20-20

13.

Discussion of Asset Smoothing for the Death Benefit Fund; and Possible Action

 

 

 

 

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

 

 

 

14.

Presentation of the Integrated Pension System – Review of  the Project Highlights and Commemoration of Its Completion

 

 

15.

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

 

 

16.

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

 

 

17.

Presentation by Stepstone Group – 2019 First Quarter Real Estate Portfolio Performance Report

 

 

18.

Annual Presentation by Blackrock Institutional Trust Company    International Developed Passive Equities Manager

 

 

19.

Annual Presentation by FIAM, LLC – International Developed Growth Equities Manager

 

 

20.

Annual Presentation by MFS Institutional Advisors – International Developed Value Equities Manager

 

 

 

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

CONSIDERATION OF FUTURE AGENDA ITEMS

 

 

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

 

Reso

 

 

20-21

21.

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

 

 

20-22

22.

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

 

 

20-23

23.

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 27, 2019.