Wednesday, June 10, 2015

Transcription

1 San Francisco Employees Retirement System RETIREMENT BOARD MEETING CALENDAR Wednesday, 1145 Market Street, 6 th Floor San Francisco, CA :00 p.m. MISSION STATEMENT San Francisco City and County Employees Retirement System is Dedicated to Securing, Protecting and Prudently Investing the Pension Trust Assets, Administering Mandated Benefit Programs, and Providing Promised Benefits. RETIREMENT BOARD MEMBERS President Victor Makras Vice President Malia Cohen Commissioners Leona Bridges Joseph Driscoll Herb Meiberger, CFA Wendy Paskin-Jordan Brian Stansbury Jay Huish Executive Director

2 Page 2 of 9 DISABILITY ACCESS The San Francisco Employees' Retirement System is wheelchair accessible. Accessible seating is available for persons with disabilities. To obtain a disability-related modification or accommodation, including large print agendas, American Sign Language interpreters, FM sound amplification system and auxiliary aids or services, please contact Norman Nickens at (415) at least two (2) business days before the meeting. There is accessible parking in the vicinity of 1145 Market Street at Civic Center Plaza. Accessible MUNI lines are available at the corner of Market Street and 8 th Street. The closest accessible MUNI /BART station is Civic Center Station. Materials accompanying the agenda are available for public inspection and copying at SFERS, 1145 Market Street, 7th Floor. For additional information, please contact Norman Nickens, Executive Assistant, at (415) In order to assist the City s efforts to accommodate persons with severe allergies, environmental illness, multiple chemical sensitivity or related disabilities, attendees at public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City to accommodate these individuals. The ringing of and use of cell phones, pagers and similar sound-producing electronic devices are prohibited at this meeting. Please be advised that the Chair may order the removal from the meeting room of any person(s) responsible for the ringing or use of a cell phone, pager, or other similar sound-producing electronic devices. Know Your Rights Under the Sunshine Ordinance (Chapter 67 of the San Francisco Administrative Code) Government's duty is to serve the public, reaching its decisions in full view of the public. Commissions, boards, councils and other agencies of the City and County exist to conduct the people's business. This ordinance assures that deliberations are conducted before the people and that City operations are open to the people's review. FOR MORE INFORMATION ON YOUR RIGHTS UNDER THE SUNSHINE ORDINANCE OR TO REPORT A VIOLATION OF THE ORDINANCE, CONTACT THE SUNSHINE ORDINANCE TASK FORCE. Sunshine Ordinance Task Force City Hall 1 Dr Carlton B. Goodlett Place, Room 244 San Francisco, CA (415) by fax at (415) or by at sotf@sfgov.org Citizens interested in obtaining a free copy of the Sunshine Ordinance can request a copy from Mr. Darby or by printing Chapter 67 of the San Francisco Administrative Code on the Internet, Any materials distributed to the Retirement Board (or committee) within 72 hours of the meeting or after distribution of the agenda packet to Board (or committee) members are available for public inspection at SFERS, 1145 Market Street, 7 th Floor, during regular office hours. Lobbyist Registration and Reporting Requirements Individuals and entities that influence or attempt to influence local legislative or administrative action may be required by the San Francisco Lobbyist Ordinance (San Francisco Campaign and Governmental Conduct Code sections ) to register and report lobbying activity. For more information about the Lobbyist Ordinance, please contact the Ethics Commission at 25 Van Ness Avenue, Suite 220, San Francisco, CA 94102, telephone (415) , fax (415) and web site:

3 Page 3 of 9 OPENING CALENDAR Pledge of Allegiance Roll Call Action Election of Board Vice President meeting: none Action: Elect Vice Board President Action Election of Board President meeting: none Action: Elect Board President Discussion Action Public Comment PUBLIC COMMENT PROCEDURES: Members of the public shall have an opportunity to directly address the Retirement Board on items of interest to the public that are within the subject matter jurisdiction of the Retirement Board. Members of the public may address the Retirement Board now. Members of the public may also address the Board on a specific agenda item when public comment is called for that item. Members of the public who wish to provide public comment are encouraged to complete a Speaker Card for each agenda item for which they intend to address the Retirement Board and return them to the Commission Secretary prior to the consideration of that agenda item. Each member of the public may address the Retirement Board for up to three minutes, unless the Chair specifies a different time limit. The President of the Retirement Board may limit this initial General Public Comment item to 30 minutes. Any remaining members of the public who wish to make general public comment to the Retirement Board may do so during General Public Comment at the end of the agenda. Approval of the Minutes of the May 13, 2015 Retirement Board Meeting Documents provided to the Retirement Board prior to the current meeting: Draft Minutes of the May 13, 2015 Retirement Board Meeting Action: Approve Minutes of the May 13, 2015 Retirement Board Meeting, or take other action on the minutes

4 Page 4 of Action Approval of the Minutes of the March 11, 2015 Retirement Board Meeting Documents provided to the Retirement Board prior to the current meeting: Draft Minutes of the March 11, 2015 Retirement Board Meeting Action: Approve Minutes of the March 11, 2015 Retirement Board Meeting, or take other action on the minutes CONSENT CALENDAR All matters listed hereunder constitute a Consent Calendar, are considered to be routine by the Retirement Board and will be acted upon by a single vote of the Retirement Board. There will be no separate discussion of these items unless a member of the Retirement Board so requests, in which event the matter shall be removed from the Consent Calendar and considered as a separate item a Action Consent Calendar b Action Voluntary Retirement Board List No c Action Decisions of Hearing Officers Timothy J. Farrelly II Effective Date: 10/1/13 Cris N. Logia, Jr. (Deceased 2/20/15) Effective Date: 4/30/11 Lawanda J. Marrero Effective Date: 12/1/12 Steven P. Rascon Effective Date: 3/10/12 Ramon A. Useda Effective Date: 5/1/13 Q4 Police Officer III Police 7252 Chief Stationary Engineer PUC-Clean Water 2585 Health Worker I DPH-CMHS H2 Firefighter Fire 8214 Parking Control Officer MTA Industrial Disability Retirement Granted Ordinary Disability Retirement Granted Ordinary Disability Retirement Denied Industrial Disability Retirement Granted Ordinary Disability Retirement Denied d Action Petition for Rehearing Lawanda J. Marrero Effective Date: 12/1/ Health Worker I DPH-CMHS Ordinary Disability Retirement Denied

5 Page 5 of e Action Request Travel Approval for Commissioner Documents provided to the Retirement Board prior to the current meeting: Voluntary Retirement Board List, Hearing Officer Decisions, Travel Requests, Agenda Action: Approve Consent Calendar INVESTMENT CALENDAR Discussion Report on Investment Performance of the Retirement Fund for the Quarter Ended March 31, 2015 meeting: Staff memorandum and Consultant Report Discussion Report on Managers Under Review meeting: Staff memorandum and Consultant Report Discussion Report on the Performance of Private Equity Portfolio for the Period Ended December 31, 2014 meeting: Staff memorandum and Consultant Report Action Approval to commit up to 100 million in European Property Investors Special Opportunities IV, L.P.

6 Page 6 of 9 meeting: Staff and Consultant memoranda Action: Approve commitment of up to 100 million in European Property Investors Special Opportunities IV, L.P., or take other action on the investment Action Approval to commit up to $100 million to Westbrook Real Estate Fund X, L.P. meeting: Staff and Consultant memoranda Action: Approve commitment of up to $100 million to Westbrook Real Estate Fund X, L.P., or take other action on the investment Action Approval to commit up to $75 million to TA Associates XII L.P. meeting: Staff and Consultant memoranda Action: Approve commitment of up to $75 million to TA Associates XII L.P., or take other action on the investment Discussion Update on Level I of the Social Investment Policies and Procedures 2015 Proxy Voting Season meeting: Staff memorandum Action Discussion and possible action regarding potential investment with the Mayor's Office of Housing Down Payment Assistance Loan Program meeting: None

7 Page 7 of 9 Action: This is a discussion and possible action item Chief Investment Officer Report Discussion a. Discussion Documents provided to the Retirement Board prior to the current meeting: CIO Report This is a discussion only item Possible Action on Pending Proxies b. Proxy Action: Possible Action on Pending Proxies DEFERRED COMPENSATION PLAN CALENDAR Discussion SFDCP Manager Report Documents provided to the Retirement Board prior to the current meeting: Staff Memorandum and Report ADMINISTRATION CALENDAR Action Review of Demographic Experience Study for the Period July 1, 2009 to July 1, 2014 meeting: Staff memorandum and Consultant Report Action: Approve Demographic Experience Study for the Period July 1, 2009 to July 1, 2014, or take other action on the study Action Declaration of Vacancy on the Board and Adoption of Election Procedures and Timelines meeting: Draft election schedule and materials Action: Approve declaration of vacancy on Board and election procedures and timelines, or take other action

8 Page 8 of not used Discussion Executive Director s Report meeting: Executive Director s Report Administrative Update: Attachments for Informational Purposes: The Cortex Report of Educational Opportunities Blackout Period List Forward Calendar Discussion Retirement Board Member Good of the Order meeting: none Discussion Retirement Board Member Reports and Comments Report by Commissioner Wendy Paskin-Jordan on her attendance at the 2015 Blackstone Capital Partners Limited Partners Conference, May 6-8, 2015, New York, NY meeting: Conference report

9 Page 9 of 9 CLOSED SESSION Action Public comment, including on whether the Board should assert the attorney-client privilege and enter closed session for item (b) below. Vote whether to assert the attorney-client privilege for item (b) and whether to enter closed session for items (a), (b) and (c) (Action). Enter closed session a) Recommendations and Possible Action on Purchases of Particular, Specific Pension Fund Investments under California Government Code Section (2 investment recommendations) (Discussion and Possible Action) b) Conference with Legal Counsel under Government Code Section (d)(4) and San Francisco Administrative Code Section 67.10(d)(2) - Anticipated litigation as plaintiff. Number of potential cases: one. (Discussion and Possible Action) c) Public Employee Performance Evaluation Executive Director Jay Huish: California Government Code Section 54957(b), San Francisco Administrative Code Section 67.10(b). Return to open session. Required disclosures, if any, under California Government Code Section and San Francisco Administrative Code Section 67.12(b). Vote whether to disclose discussions held in closed session under San Francisco Administrative Code Section 67.12(a) (Action) Adjournment