BOARD OF RETIREMENT FRESNO COUNTY EMPLOYEES RETIREMENT ASSOCIATION

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1 BOARD OF RETIREMENT FRESNO COUNTY EMPLOYEES RETIREMENT ASSOCIATION 1. Call to Order Wednesday, January 9, :30 AM 1111 H Street Fresno, CA AGENDA 2. 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. 3. Introduction and welcome to Trustee James E. Hackett newly elected by the General Members. 4. Election of Chair and Vice Chair for Calendar Year Discussion and appropriate action on appointments to the Retirement Board Standing Committees: Audit, Budget, Disability, and Personnel RECEIVE AND FILE; APPROVE 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. Approve the December 5, 2007 Retirement Board Regular Meeting Minutes RECEIVE AND FILE; APPROVE *7. Retirements RECEIVE AND FILE; APPROVE Charles M. Antaramian Superior Court, Deferred 5.52 Robert L. Barsoian Assessor-Recorder Thomas C. Bulgar Children & Family Services Daniel M. Callahan Sheriff, Deferred Gayle Davilla Community Health Rodolfo Estrada E&TA Donald F. Fischer Public Authority Barry M. Garrison District Attorney 21.80

2 2 Antonio Gomez General Services Jose L. Gutierrez Behavioral Health Brian Henley Sheriff, Deferred Mark R. Hernandez Probation, Deferred Mark R. Johnson Public Works & Planning James D. Kellas ACTTC, Deferred Sovann T. Kuoch E&TA Bertha S. Lopez E&TA, Deferred 8.18 Mario Madril General Services Mary Lou Martinez E&TA Michael A. Massie Public Works & Planning Isabel L. Moon E&TA, Deferred Ronald P. Moreno Sheriff Donna L. Nunes-Croteau Behavioral Health Lupita G. Padilla Superior Court Albert R. Prendez General Services Henry Rivera Probation, Deferred Diana B. Stanley Superior Court Judith E. Strukel E&TA Merlene Szoboszlay E&TA Jeff L. Vawter NCFPD Joan G. Von Renner Behavioral Health, Deferred 8.64 Patricia White E&TA Sonya L. Whitten Child & Family Services, Deferred 7.24 *8. Deferred Retirements RECEIVE AND FILE; APPROVE Cathleen Franco Child Support Services 8.59 Priscilla Lazalde Superior Court 2.16 Lawrence Levy Behavioral Health 4.98 Karney M. Mekhitarian Public Defender 1.09 Kenneth Dean Smith E&TA 6.03 *9. Most recent investment returns, performance summaries and general investment information from investment managers RECEIVE AND FILE AJO Investment Artisan Investment BlackRock Investment Blackstone Investment Bradford Investment Brandywine Investment Credit Suisse Investment

3 3 GMO Investment INTECH Investment Kalmar Investment Lynch Investment Mondrian Investment Oechsle Investment Realty Assoc Investment Sentinel Investment State Street Investment TCW Investment TCW Shop III Investment TCW Shop IV Investment Templeton Investment WAMCO Investment Warburg Investment Wellington Investment *10. Revised Market Value for Fixed-Income Accounts for September 30, 2007 Quarterly Investment Performance Report RECEIVE AND FILE Blackrock Revised Bradford Revised Loomis Revised Western Revised *11. Public Records Requests and/or Retirement Related Information Requests from Paul A. Dictos, Paul A. Dictos Accountancy and Ken Mandler, Public Pay Institute RECEIVE AND FILE

4 4 PRA Dictos PRA Mandler *12. Comprehensive Annual Financial Report (CAFR) for fiscal year ended June 30, 2007 RECEIVE AND FILE *13. Update of Board of Retirement directives to FCERA Administration RECEIVE AND FILE *14. FCERA Excess Fiduciary Liability Insurance Summary of Coverage RECEIVE AND FILE *15. Memorandum from Wurts & Associates regarding Personnel Changes at Franklin Templeton International RECEIVE AND FILE *16. Correspondence from Ronald E. Logue, CEO State Street Corporation, announcing the resignation of Bill Hunt, SSgA CEO, and that a contingency reserve has been established to address legal exposure and other costs associated with the underperformance of a small number of active fixed-income strategies managed by SSgA RECEIVE AND FILE *17. Board of Retirement Annual Attendance Report for 2007 RECEIVE AND FILE; APPROVE Attachment #1 18. Performance and Economic Summary report presented by Joseph Carieri Western Asset Management Company RECEIVE AND FILE 19. Performance and Economic Summary report presented by Jeff Brothers Bradford & Marzec RECEIVE AND FILE 20. Closed Session: A. Conference with Legal Counsel Actual Litigation - pursuant to G.C (a) 1. Fresno County Employees Retirement Association v. Public Pension Professionals B. Disability Retirement Applications Personnel Exception (G.C ): 1. Nelson Fowlkes C. Personnel Public Employee Performance Evaluation Retirement Administrator (G.C ) D. Conference with Labor Negotiator (G.C )

5 5 Agency Representative: John Souza Unrepresented Employee/Position to be evaluated: Retirement Administrator 21. Report from Closed Session 22. Report from FCERA Administration 23. Report from County Counsel 24. Board Member Announcements or Reports NEXT MEETINGS: January 23, :30 AM (Wednesday) Regular Meeting 1111 H Street, Fresno, CA February 6, :30 AM (Wednesday) Regular Meeting 1111 H Street, Fresno, CA Requests for disability-related modification or accommodation needed in order to participate in the meeting should be made to Elizabeth Avalos at no later than Monday, 01/07/08 at 12PM.