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BOARD OF RETIREMENT
FRESNO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION
Wednesday, September 3, 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 August 20, 2008 Retirement Board Regular Meeting Minutes – RECEIVE AND FILE; APPROVE
*5. Retirements – RECEIVE AND FILE; APPROVE
Delores G. Aguiniga / Behavioral Health / 33.81Charles D. Anderson / E&TA / 16.90
Nancy Bauer-Smith / VMC, Deferred / 5.89
Cassandra Bell / Child Support Services / 30.18
Judy L. Bier / ACTTC, Deferred / 14.26
Ethel Friesen / Library / 40.02
Earl W. Fuentes / E&TA / 10.00
Jeffrey Allen Heller / General Services / 10.04
Gary W. Johnson / E&TA / 30.78
James Kirby / Behavioral Health / 19.89
Opal Arline Lewis / Community Health, Deferred / 13.66
Brien Melkonian / Sheriff / 21.75
Phillip S. Moore / Sheriff / 25.04
Diana Pauley / E&TA / 27.32
Toni Paxton / Children & Family Services / 17.80
Becky Pellouso / Child Support Services / 22.03
Leanne Pratt / VMC, Deferred / 11.14
Virginia Rowley / Children & Family Svs, Deferred / 5.86
Bruce Smith / VMC, Deferred / 11.21
Kathleen Smithson / E&TA / 30.69
Lee Stanley / General Services / 16.40
Belinda K. Stewart / Child Support Services / 28.59
Ntxongyaj H. Tongleng / E&TA / 24.79
Sally B. Valencia / Child Support Services / 25.57
Grace Venegas-Gonzales / E&TA / 12.86
Ethel Vierra / District Attorney / 10.75
Rebecca E. Watters / E&TA / 28.65
*6. Deferred Retirements – RECEIVE AND FILE; APPROVE
Mary Escutia / Community Health / 6.09Frank L. Johnson, IV / Public Works & Planning / 4.52
*7. Disability Retirements – RECEIVE AND FILE; APPROVE
Brian Gibbs / Sheriff / 10.23*8. 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 Investment (Acrobat reader required)
· BlackRock Investment (Acrobat reader required)
· Blackstone Investment (Acrobat reader required)
· Bradford Investment (Acrobat reader required)
· Brandywine Investment (Acrobat reader required)
· GMO Investment (Acrobat reader required)
· INTECH Investment (Acrobat reader required)
· JER II Investment (Acrobat reader required)
· Kalmar Investment (Acrobat reader required)
· Lonestar 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 Assoc Investment (Acrobat reader required)
· Sentinel Investment (Acrobat reader required)
· State Street Cash Investment (Acrobat reader required)
· State Street Equity Investment (Acrobat reader required)
· State Street Securities Investment (Acrobat reader required)
· Templeton Investment (Acrobat reader required)
· WAMCO Investment (Acrobat reader required)
· Warburg Investment (Acrobat reader required)
· Warburg VIII Investment (Acrobat reader required)
· Warburg X Investment (Acrobat reader required)
· Wellington Investment (Acrobat reader required)
*9. Public Records Requests and/or Retirement Related Information Requests from Reo Saldivar, Active FCERA Member, Ann Stockett, North American Holdings; Amy Liu, County of Sacramento; and Vivienne Crawford, SEUI 521 – RECEIVE AND FILE
· PRA Crawford (Acrobat reader required)
· PRA Liu (Acrobat reader required)
· PRA Saldivar (Acrobat reader required)
· PRA Stockett (Acrobat reader required)
*10. Update of Board of Retirement directives to FCERA Administration – RECEIVE AND FILE
*11. Correspondence from SACRS to the Public Interest Committee of the American Academy of Actuaries (AAA) stating its reasons for not supporting a statement by the AAA Board of Directors that disclosure of the market value of assets and liabilities in public pension plans would be in the public interest (Acrobat reader required) – RECEIVE AND FILE
*12. Approve determination of compensation earnable for the County of Fresno pay item/earn code Cell Phone Stipend – RECEIVE AND FILE; APPROVE
· 072208 Cell Phone Stipend BOS (Acrobat reader required)
· Exhibit 1 Pensionable Earn Codes
13. Discussion and appropriate action on recommendation to terminate Artisan Partners presented by Jeffrey MacLean, Wurts & Associates – RECEIVE AND FILE; APPROVE
· Artisan Attachment I (Acrobat reader required)
· Artisan SC Growth Termination Memorandum (Acrobat reader required)
· Artisan Small Cap Growth Review (Acrobat reader required)
14. Discussion and appropriate action on Bradford & Marzec guideline violation presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE
15. Discussion and appropriate action on Western Asset Management’s 2nd Quarter Conference Call Summary presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE
16. Presentation of the June 30, 2008 Investment Performance Review presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE
17. Presentation of the June 30, 2008 Guideline Compliance Report presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE
18. Discussion and appropriate action on Overpayment/Underpayment Policy – RECEIVE AND FILE; APPROVE
· Amended Overpayment Underpayment Policy marked up
· Amended Overpayment Underpayment Policy
· Current Overpayment Underpayment Policy (Acrobat reader required)
19. Discussion and appropriate action on Voting Proxy for SACRS 2008 Fall Conference – RECEIVE AND FILE; APPROVE
20. 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. North Central Fire Protection District v. Fresno County Employees’ Retirement Association
B. Conference with Real Property Negotiators – pursuant to G.C. §54956.8
Property: 1713 Tulare Street, Fresno, CA 93721
Agency Negotiators: Brian Decker of Colliers Tingey
Negotiating Party: Any potential qualified buyer
Under Negotiation: Price and terms of sale
21. Report from Closed Session
22. Report from FCERA Administration
23. Report from County Counsel
24. Board Member Announcements or Reports
NEXT MEETINGS:
September 10, 2008 – 8:30 AM (Wednesday)
Special Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
September 17, 2008 – 8:30 AM (Wednesday)
Regular Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
September 17, 2008 – Immediately following the Regular Meeting
Personnel Committee Meeting
FCERA Boardroom
1111 H Street, Fresno, CA 93721
09/03/08 Regular Meeting