BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

 

SPECIAL MEETING AGENDA

 

MAY 20, 2020 – 9:30 A.M.

 

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

 


A meeting of the Retirement Board will be held on May 20, 2020, convening at 9:30 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.

 

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 (415) 655-0002 and entering 962308759# when prompted for a meeting ID number. The public comment phone line will be accessible starting at 9:15 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 Minutes

a)   February 26, 2020 Regular Meeting

b)   April 15, 2020 Special Meeting

 

 

 

20-46

20-47

2.

Termination of Monthly Allowance

a)   Termination of Monthly Allowance for March 2020

b)   Termination of Monthly Allowance for April 2020

 

 

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

 

 

 

3.

Report of Payment Authorizations

a)   February 2020

b)   March 2020

c)   April 2020

  

 

 

4.

Notice of Deaths

a)  February 2020

b)  March 2020

 

 

 

5.

Summary of Contract Expirations for May 2020

 

 

 

6.

Report on Status of Insurance for May 2020

 

 

 

7.

Investment Reports for January 2020

a)  Summary of Investment Returns as of January 31, 2020

b)  Market Value of Investments by Fund and Month as of January 31, 2020

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of January 31, 2020

 

 

 

 

 

 

8.

Investment Reports for February 2020

a)  Summary of Investment Returns as of February 29, 2020

b)  Market Value of Investments by Fund and Month as of February 29, 2020

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of February 29, 2020

 

 

 

9.

Investment Reports for March 2020

a)  Summary of Investment Returns as of March 31, 2020

b)  Market Value of Investments by Fund and Month as of March 31, 2020

c)  Market Value of the Retirement, Death, and Disability Funds and Retiree Health Care Fund as of March 31, 2020

 

       

 

10.

Annual Presentation by Blackrock Institutional Trust Co. – Domestic Large-Cap Core Equity Manager

 

 

 

11.

Annual Presentation by MFS – Domestic Large-Cap Value Equity Manager

 

 

 

12.

Annual Presentation by T. Rowe Price Associates, Inc. – Domestic Large-Cap Value Equity Manager

 

 

 

13.

Annual Presentation by Jennison Associates, LLC – Domestic Large-Cap Growth Equity Manager

 

 

 

14.

Annual Presentation by T. Rowe Price Associates, Inc. – Domestic Large-Cap Growth Equity Manager

 

 

 

15.

Annual Presentation by Los Angeles Capital Management – Emerging Markets Equity Manager

 

 

 

16.

Annual Presentation by Wellington Management – Emerging Markets Equity Manager

 

 

 

17.

Report on StepStone Global LLC – On-Site Due Diligence Visit

 

 

 

18.

Report on AG Europe III Commitment

 

 

 

19.

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

 

 

20-48

20.

Discussion of Budget Amendment for Integrated Pension System Oracle Database Upgrade and Implementation of New Tax Withholding Calculations; and Possible Action

 

20-49

21.

Discussion of Contract Extension with Segal, Inc.; and Possible Action

 

       

20-50

22

Discussion of Contract Extension with RVK, Inc. for General Consulting Services; and

Possible Action

 

 

20-51

23.

Discussion of Contract Extension with StepStone Group Real Estate LP for Real Estate

Consulting Services; and Possible Action

 

 

20-52

24.

Discussion of Proxy Voting Guideline Update; and Possible Action

 

 

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

 

 

 

RETIREMENT PLAN MANAGER’S COMMENTS

 

 

 

CONSIDERATION OF FUTURE AGENDA ITEMS

 

 

 

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

 

Reso

 

 

20-53

25.

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

 

       

20-54

26.

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 May 18, 2020.