DATE: June 4, 2008
TO: Trustees, Board of Retirement
FROM: Roberto L. Peña
Retirement Administrator
SUBJECT: State Association of County Retirement Systems (SACRS) Spring 2008 Conference
On Tuesday, May 13th through May 16th, 2008, Trustee Vicki Crow (and SACRS Treasurer), Trustee Nick Cornacchia, Retiree Trustee Alternate Ron Frye, Trustee Phil Larson, Trustee Larry Gomez, Assistant Retirement Administrator Becky Van Wyk and I, attended the SACRS Spring Conference held at the Sheraton Grand Hotel in Sacramento.
The conference was well attended with participants and attendees from all twenty 1937 Act Counties and attendees from affiliate companies or organizations other than public retirement systems.
The program, which is prepared to educate trustees and staff members of each retirement system and association affiliates, was well balanced between Board operations, retirement benefits, investment issues, legal issues and actuarial related issues and consisted of general and concurrent breakout sessions as follows:
· Ethics Training and Certification as required by AB 1234
· Disability Workshop – Disability Issue Spotting on Accurate Assessment of Permanent Incapacity and Causation
· Board Chairperson: Orange County Challenge To Safety Member Benefits
· Select and Evaluate Technology Vendors
· General Session – The Ten Surprises of 2008: Looking for a Better Market This Summer; The Ten Year Budget: The Chickens Come Home to Roost and The Phenomenon of Sovereign Investing (how their behavior and investing impact the market); Implications for SACRS
· Breakout/Concurrent Sessions - Administrators, Affiliates, Counsel, Investment Officers, Operations & Benefits Staff, Safety and Trustees Breakouts
· General and Safety Trustees: Protecting Your Rights While Fulfilling Your Responsibilities
June 4, 2008
Page 2
· A Reverse Minsky Journey – Discussion on the Recent Bursting of Triple Bubbles in Property Prices, Mortgage Debt and the Shadow Banking System
· California Highway Patrolman – Mike Remmel, an Inspirational Story
· Concurrent Sessions: Governor’s Public Employees Post-Employment Benefits (PEPEB) Commission Update; Asset Allocation, Strategy VS. Tactical, Still 80% of Pension Returns?
· Concurrent Sessions: Disability: Pellerin Case; What’s Prime About Prime Brokerage?
· Concurrent Sessions: International Real Estate Investing and SACRS Legislation
· General Session: Corporate Governance
· SACRS Business Meeting General Assembly
The overall quality of the SACRS Conference included timely and informative topics, as well as the opportunity to network with other trustees, administrators, retirement staff and investment managers from other public funds around the state.
I strongly recommend and encourage Board trustees to participate in continuing education by attending future SACRS Conference programs. I have attached copies of the most relevant topics of discussion at the conference for your reference. Please note however, that all or other copies of handouts and/or presentations can be made available at your request. If you have any questions or comments related to the information provided or the conference topics in general, please do not hesitate to contact me.
Thank you.
1111 H Street, Fresno, CA 93721, Tel 559.457.0681 Fax 559.457.0318