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BOARD OF RETIREMENT
FRESNO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION
Wednesday July 18, 2007 – 8:30 AM
FCERA Boardroom
1111 H Street
Fresno, CA 93721
AGENDA
1. Call to Order
2. Pledge of Allegiance
3. Introduction and welcome to Trustee Eulalio Gomez, newly elected by the Safety Members.
4. Presentation of Plaque to A. Papaleo for over 16 years of service as Trustee for the Board of Retirement of the Fresno County Employees’ Retirement Association
5. 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.
*6. Approval of the June 1, 2007 Personnel Committee Meeting Minutes and the June 6, 2007 and June 20, 2007 Retirement Board Regular Meeting Minutes – RECEIVE AND FILE; APPROVE
*7. Retirements – RECEIVE AND FILE; APPROVE
Linda J. Baker / Sheriff / 11.99Laura J. Bakker / County Counsel, Deferred / 14.00
Darlene Bragg / Behavioral Health / 10.04
Robert A.L. Brown / E&TA, Deferred / 11.49
Linda Carlton / E&TA / 32.34
Teresa O. Gaucin / Community Health / 34.97
Virginia A. Lienau / Assessor/Recorder / 10.30
Donna McSpadden / VMC, Deferred / 25.88
Pamela Mighaccio / E&TA, Deferred / 6.57
Delores Montoya / E&TA / 32.60
Mary K. Phillips / Behavioral Health, Deferred / 16.26
Michael Rasmussen / Fresno Mosquito Abatement / 29.27
Nancy C. Toste-Smith / District Attorney, Deferred / 11.61
Leslie J. Watts / Children and Family Services / 27.36
Cheryl A. Whittle / Children and Family Services / 14.29
Delores D. Williams / E&TA, Deferred / 5.82
Stan Zulewski / VMC, Deferred / 15.45
*8. Disability Retirements – RECEIVE AND FILE; APPROVE
Marline Sheanh / E&TA / 7.78Jennie Tabarez / E&TA / 9.58
*9. Deferred Retirements – RECEIVE AND FILE; APPROVE
Juan M. Escutia / Children and Family Services / 6.13Paul Metayo / E&TA / 21.08
Lewis V. Pond / Public Works and Planning / 6.57
Kristen Ana Sifuentes / Probation / 8.07
*10. Request to Rescind Deferred Retirements – RECEIVE AND FILE; APPROVE
Jaime Judit / Behavioral Health / 6.99Lydia M. Garibay / Behavioral Health / 6.23
Jesse Reynosa / E&TA / 5.40
*11. 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)
· Blackrock Investment (Acrobat reader required)
· Blackstone Investment (Acrobat reader required)
· Bradford Investment (Acrobat reader required)
· Brandywine Investment (Acrobat reader required)
· Credit Investment (Acrobat reader required)
· GMO Investment (Acrobat reader required)
· Intech Investment (Acrobat reader required)
· JER I Investment (Acrobat reader required)
· JER II Investment (Acrobat reader required)
· JMB V Investment (Acrobat reader required)
· Kalmar Investment (Acrobat reader required)
· Loomis Investment (Acrobat reader required)
· Lynch Investment (Acrobat reader required)
· Mondrian Investment (Acrobat reader required)
· Oechsle Investment (Acrobat reader required)
· State Street Investment (Acrobat reader required)
· TCW Investment (Acrobat reader required)
· Templeton Investment (Acrobat reader required)
· Western Investment (Acrobat reader required)
· Wellington Investment (Acrobat reader required)
*12. Summary of monthly statistics from the Retirement Association Office on buybacks, retirement benefit estimates, public service, age adjustments, final compensation calculations and disability retirement applications for June 2007 (Acrobat reader required) – RECEIVE AND FILE
*13. Public Records Requests and/or Retirement Related Information Requests from Les Schwalenberg, Monterey County; Mike Graves, Public Agency Retirement Services; Doug Hogel, Cooperative Research Services; and various FCERA members regarding the COLA UAAL refund – RECEIVE AND FILE
· PRA Schwalenberg, Graves, Hogel (Acrobat reader required)
· PRA Various COLA UAAL I (Acrobat reader required)
· PRA Various COLA UAAL II (Acrobat reader required)
*14. Update of Board of Retirement directives to FCERA Administration – RECEIVE AND FILE
*15. Budget Status for the period ended June 30, 2007 – RECEIVE AND FILE Attachment #1
*16. Request by Michael Cardenas to attend Conference in Aspen, CO sponsored by Black Rock Investment Group, a FCERA fixed income manger – RECEIVE AND FILE; APPROVE
*17. Approval of Master Actuarial Services Agreement with The Segal Company on a interim basis (Acrobat reader required) – RECEIVE AND FILE; APPROVE
*18. Approval of Property Liability Insurance Renewal for the Fresno Station Business Center – RECEIVE AND FILE; APPROVE
· Fresno Retirement Cover Letter (Acrobat reader required)
· FSBC SPIP Proposal (Acrobat reader required)
*19. Approval of Property Liability Insurance Renewal for the FCERA Administration Building – RECEIVE AND FILE; APPROVE
· Fresno Retirement Cover Letter (Acrobat reader required)
· FCERA SPIP Proposal (Acrobat reader required)
20. Discussion and appropriate action on presentation by Andy Yeung of The Segal Company on their review of the prior years contribution rates related to the Cost of Living Adjustment (COLA) Unfunded Actuarial Accrued Liability (UAAL) Contribution Adjustment Refund Process (Acrobat reader required) – RECEIVE AND FILE; APPROVE
21. Discussion and appropriate action on North Central Fire Protection District’s active members transition to the City of Fresno – RECEIVE AND FILE; APPROVE
22. Discussion and appropriate action on selection of investment management firms for the Private Equity Market Search – RECEIVE AND FILE; APPROVE
a. / 9:30 AM / Warburg Pincus – John Shearburn (Acrobat reader required)b. / 10:15 AM / New Mountain – Michael Flaherman (Acrobat reader required)
c. / 11:00 AM / HarbourVest Partners, LLC – Leila Blodgett
d. / 11:45 AM / Hamilton Lane – Jeffrey Lumbard
e. / 12:30 PM / Portfolio Advisors, LLC – Bruce Williamson (Acrobat reader required)
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
B. Disability Retirement Applications – Personnel Exceptions (G.C. §54957):
1. Geraldine Chisom
24. Report from Closed Session
25. Report from FCERA Administration
26. Report from County Counsel
27. Board Member Announcements or Reports
NEXT MEETINGS:
August 1, 2007 – 8:30 AM (Wednesday)
Regular Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
August 15, 2007 – 8:30 AM (Wednesday)
Regular Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
07/18/07 Regular Meeting