BOARD OF ADMINISTRATION

OF THE

WATER AND POWER EMPLOYEES’ RETIREMENT PLAN

REGULAR MEETING AGENDA

January 12, 2022 – 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 January 12, 2022, convening at 9:00 a.m. or soon thereafter if a 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 requests 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. In accordance with Government Code Section 54953, subsections (e)(1) and (e)(3), and in light of the State of Emergency proclaimed by the Governor on March 4, 2020, relating to COVID-19 and ongoing concerns that meeting in person would present imminent risks to the health or safety of attendees and/or that the State of Emergency continues to directly impact the ability of members to meet safely in person, 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 24859149931# when prompted for a meeting ID number. The public comment phone line will be accessible starting at 8:30 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 and Special Meeting Minutes

a) Approval of the Regular Meeting Minutes of December 8, 2021

b) Approval of the Special Meeting Minutes of December 29, 2021

 

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 2.

Termination of Monthly Allowance from the November 2021 Retirement Roll

 

 

 

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

 

 

  3.

Report of Payment Authorization for November 2021

 

 

 4.

Notice of Deaths for November 2021

 

  5.

Summary of Contract Expirations for December 2021

 

 

 

 

  6.

Report on Status of Insurance for December 2021

 

 

 


 

  7.

Investment Reports for November 2021

a)  Summary of Investment Returns as of November 30, 2021

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

Health Benefits Fund as of November 30, 2021

c)  Market Value of Investments by Fund and Month as of November 30, 2021

 

 

  8.

Articles of Interest

a)  2021 Winter Newsletter for Retirees

b)  2021 Winter Newsletter for Active Members

c)  Retirement Plan Office Announcement – Beneficiary Designation Form

 

 

 

 

 

 

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

 

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 9.

Pursuant to Government Code Section 54953(e)(1)(B)-(C), and (e)(3)(A) and (B)(i), Determination that the COVID-19 State of Emergency Continues to Directly Impact the Ability of Members to Meet Safely in Person; and Possible Action

 

 

10.

Discussion of Request for Proposal for U.S. Bank Loans Mandate

 

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11.

Discussion of Contract Extension for Blackrock – Large Cap Core Equity; and Possible Action

 

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12.

Discussion of Contract Extension for Fidelity Institutional Asset Management – International Growth Equity; and Possible Action

 

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13.

Discussion of the Postponement, Rescheduling and the Election Rules and Regulations for a Special Election for the Power System Active Employee Representative for the Term Ending May 1, 2024; 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

 

 

 

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14.

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

 

22-48

15.

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

 

 

 

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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 January 6, 2022.