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BOARD OF RETIREMENT
FRESNO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION
Wednesday, April 2, 2008 – 8:30 AM
FCERA Boardroom
1111 H Street
Fresno, CA 93721
AGENDA
1. Call to Order
2. Pledge of Allegiance
3. Public Presentations – Any member of the public may address the Retirement Board on any topic within the jurisdiction of the Retirement Board. Individual presentations shall be limited to five (5) minutes. The Retirement Board is generally legally prohibited from taking any action on presentations until a subsequent meeting.
Consent Agenda/Opportunity for Public Comment: All items listed with an asterisk (*) are considered to be routine and non-controversial by staff and will be approved by one motion if no member of the Board or public wishes to comment or ask questions. If comment or discussion is desired by anyone, the item will be removed from the consent agenda and will be considered in the listed sequence with an opportunity for any member of the public to address the Board concerning the item before action is taken. Staff recommendations are shown in caps after each item.
*4. Approve the March 19, 2008 Retirement Board Regular Meeting Minutes – RECEIVE AND FILE; APPROVE
*5. Retirements – RECEIVE AND FILE; APPROVE
Aram Adamyan / E&TA / 13.64Jeffrey W. Barrie / Sheriff / 31.32
Andrew E. Baxter / E&TA / 29.09
Cora Berumen / Superior Court / 32.11
Annabelle M. Christensen / Community Health / 20.85
James O. Condon, Jr. / Public Works & Planning / 13.49
Allan DeCamp / Sheriff / 30.98
Linda K. Deniston / Behavioral Health / 15.91
Isidoro Didulo / E&TA / 0.86
Dawn L. Diestelkamp / Superior Court / 30.25
Robert C. Dominguez / CAO, Deferred / 2.04
Jerome Dunnicliff / Agriculture / 26.38
Robert E. Ellis / District Attorney / 30.91
Leah L. Fallis / Behavioral Health, Deferred / 0.76
JoAnn Grauer / Superior Court / 15.69
Tony E. Graves / Probation / 31.40
Katherine A. Hartman / ACTTC / 10.96
Jeff Hogue / Sheriff / 26.91
Eric S. Hosoda / Probation / 34.51
Joyce Howell / E&TA / 23.38
Irwin K. Iida / ITST, Deferred / 0.09
Robert D. Ingram / E&TA / 21.73
Jack Jones / District Attorney / 17.88
Mark L. Karpoff / VMC, Deferred / 6.06
Edward F. Kowalczyk / Behavioral Health / 32.16
Gloria J. Krebs / Community Health, Deferred / 6.17
Sylvia E. Lautsch / Behavioral Health, Deferred / 1.06
Natalie Lerma / E&TA / 28.19
John F. Lew / District Attorney / 29.48
Sandra A. Lindholm / District Attorney, Deferred / 9.20
Guillermo D. Lopez / Community Health, Deferred / 15.20
Melda Martinez / County Clerk/Registrar of Voters / 23.14
Karen Elaine McDowell / Assessor-Recorder / 37.62
Joan M. Meraz / County Clerk/Registrar of Voters / 18.99
Marion L. Miller / Public Works & Planning / 19.05
Janie Mirelez / E&TA / 15.93
Naomi S. Moreno / E&TA / 21.18
Phillip Navarro / Community Health / 19.27
Raymond Tenorio Ramirez / Public Works & Planning / 29.75
Nancy C. Ramos / Child Support Services / 13.69
Richard Rodriquez / General Services, Deferred / 19.25
Gary S. Romo / Sheriff, Deferred / 1.84
Marilyn Schroeder / Superior Court / 19.54
Henrietta B. Spain / E&TA / 21.84
Judy Steinhardt / District Attorney / 27.16
Eugene N. Sibley / Assessor-Recorder / 33.47
Carol A. Terry-Nickel / Sheriff / 13.83
Margaret Villarreal / E&TA / 30.43
Lucinda Whitney / Probation / 26.07
James R. Witte / Public Works & Planning / 17.01
James Zulim / Sheriff, Deferred / 2.01
*6. Disability Retirements – RECEIVE AND FILE; APPROVE
Erick Boggs / Sheriff / 5.14Virginia Castellano / General Services / 10.21
Karla Kim Reed / Behavioral Health / 9.59
*7. Deferred Retirements – RECEIVE AND FILE; APPROVE
Beatriz Aguayo / E&TA / 6.17Katherine H. Anderson / Community Health / 8.62
Richard L. Brandt-Kreutz / Children & Family Services / 12.03
R. Gregory De La Cerda / Sheriff / 11.97
Cathy Farmen / Library / 5.83
Adrienne R. Harter / Children & Family Services / 6.35
Maiya Her / Children & Family Services / 6.20
James K. Hill / Probation / 5.28
Jean Johnson / E&TA / 7.88
Elana Landau / District Attorney / 4.33
Hector Lizarraga / Sheriff / 5.94
Ronald L. McKelroy / General Services / 9.38
Cynthia R. Montez / Children & Family Services / 4.99
Judith E. Ravdin / Library / 8.06
April S. Rose / Children & Family Services / 7.62
Joseph K. Sebastian / Children & Family Services / 6.33
Diana C. Sorondo / Superior Court / 13.91
*8. Request to Rescind Deferred Retirements – RECEIVE AND FILE; APPROVE
Linda Hernandez / Assessor-Recorder / 6.16Douglas Kirk Johnson / Behavioral Health / 0.48
*9. Most recent investment returns, performance summaries and general investment information from investment managers – RECEIVE AND FILE
· AJO Investment (Acrobat reader required)
· Artisan Investment (Acrobat reader required)
· BCI Partners (Acrobat reader required)
· BlackRock Investment (Acrobat reader required)
· Blackstone BPIF Investment (Acrobat reader required)
· Bradford Marzec (Acrobat reader required)
· Brandywine Investment (Acrobat reader required)
· GMO (Acrobat reader required)
· INTECH Investment (Acrobat reader required)
· Kalmar Investment (Acrobat reader required)
· Loomis Sayles Investment (Acrobat reader required)
· Lynch Jones Ryan Investment (Acrobat reader required)
· Mondrian Investment (Acrobat reader required)
· Oechsle Investment (Acrobat reader required)
· Realty Associates Investment (Acrobat reader required)
· Sentinel (Acrobat reader required)
· State Street Investment (Acrobat reader required)
· TCW Investment (Acrobat reader required)
· Templeton Investment (Acrobat reader required)
· WAMCO Investment (Acrobat reader required)
· Warburg Investment (Acrobat reader required)
· Warburg Pincus X Investment (Acrobat reader required)
· Wellington Investment (Acrobat reader required)
*10. Public Records Requests and/or Retirement Related Information Requests from Gary Anderson, FCERA Member; Sandra Brock, Active FCERA Member; Betsy Lindegren, Retired FCERA Member; Sue Stocks, Tulare County; and Jorge A. Urbina, Active FCERA Member – RECEIVE AND FILE
· PRA Anderson (Acrobat reader required)
· PRA Brock (Acrobat reader required)
· PRA Lindegren (Acrobat reader required)
· PRA Stocks (Acrobat reader required)
· PRA Urbina (Acrobat reader required)
*11. Update of Board of Retirement directives to FCERA Administration – RECEIVE AND FILE
*12. Training material related to a ½ day educational seminar hosted at FCERA on the SACRS Economic Impact Report: Understanding the Results – RECEIVE AND FILE
· Attachment I Economic Impacts (Acrobat reader required)
· Attachment II Key Talking Points (Acrobat reader required)
· Attachment III County Overview (Acrobat reader required)
· Attachment IV Total Output and Added Value (Acrobat reader required)
· Attachment V Frequently Asked Questions (Acrobat reader required)
· Attachment VI Model Communications Plan (Acrobat reader required)
· Attachment VII Press Release (Acrobat reader required)
· Attachment VIII Public Emp Pension Funds Strengthen (Acrobat reader required)
· Attachment IX SCERS Background (Acrobat reader required)
· Attachment X Economic Impacts on CA and Co of SACRS (Acrobat reader required)
*13. Correspondence from BlackRock about their monitoring and operational process regarding Bear Stearns News (Acrobat reader required) – RECEIVE AND FILE
*14. Correspondence from Jeffrey MacLean, Wurts & Associates, regarding Western Asset Management Company’s (WAMCO) performance of the fixed income portfolio (Acrobat reader required) – RECEIVE AND FILE
*15. Correspondence from Bradford & Marzec announcing its operating entity change from a Corporation to a Limited Liability Company (LLC) (Acrobat reader required) – RECEIVE AND FILE
*16. Approve May 21, 2008 and July 2, 2008 Board Meeting Cancellation Request – RECEIVE AND FILE; APPROVE
*17. Approve Revised Due Diligence Policy, specifically item 15 page 49, related to Service Providers Contracts – RECEIVE AND FILE; APPROVE Attachment #1 (Acrobat reader required)
18. Performance and Economic Summary report presented by Bill Nemerever - Grantham Mayo Otterloo (Acrobat reader required) – RECEIVE AND FILE
19. Discussion and appropriate action on Trust Company of the West (TCW) Termination presented by Thomas R. Shanklin, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE
20. Discussion and appropriate action on Bradford & Marzec Portfolio Transition Recommendation presented by Thomas R. Shanklin, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE
21. Discussion and appropriate action on one-year Contract Extension for financial audit services by Brown Armstrong presented by Roberto L. Peña, Retirement Administrator – RECEIVE AND FILE; APPROVE
22. Discussion and appropriate action on Cortex Applied Research proposal for assistance to FCERA with the Investment Consultant search – RECEIVE AND FILE; APPROVE Attachment #1
23. Closed Session:
A. Conference with Legal Counsel – Actual Litigation - pursuant to G.C. §54956.9(a)
1. Fresno County Employees’ Retirement Association v. Public Pension Professionals
2. Mackie v. Fresno County Retirement Board (Fresno County Superior Court No. 07CECG01439
B. Disability Retirement Applications – Personnel Exception (G.C. §54957):
1. Patti Gimbarti
2. Thomas Alberda
3. Frank Riojos
24. Report from Closed Session
25. Report from FCERA Administration
26. Report from County Counsel
27. Board Member Announcements or Reports
NEXT MEETINGS:
April 16, 2008 – 8:30 AM (Wednesday)
Regular Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
May 7, 2008 – 8:30 AM (Wednesday)
Regular Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
04/02/08 Regular Meeting