DAVID H. PRINCE Tel. (760) Retirement Administrator Fax (760) BRIEF AGENDA

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1 DAVID H. PRINCE Tel. (760) Retirement Administrator Fax (760) KATHLEEN L. KUBLER Clerk of the Board 1221 State Street El Centro, CA BRIEF AGENDA REGULAR MEETING OF THE IMPERIAL COUNTY BOARD OF RETIREMENT January 18, :30 A.M. 940 W. Main Street County Administration Center, Second Floor El Centro, CA All supporting documentation is available for public review in the Retirement Office located at 1221 W. State Street, El Centro, CA during regular business hours, Monday through Friday, excluding holidays, 8:00 a.m. 5:00 p.m. BOARD MEMBERS (by seat): 1. Karen Vogel, Imperial County Treasurer/Tax Collector 2. Ann McDonald, 3. Julie Villeneuve, 4. Jack Terrazas, County Supervisor 5. Norma K. Jauregui, Appointed Member 6. Robert W. Williams, Appointed Member 7. Pompeyo Tabarez, Jr., Safety Member 8. Barbara McFetridge, Retired Member 9. James E. Rhodes, Appointed Member 10. Herbert Bumgart, Alternate Safety Member 11. Charles L. Jernigan, Alternate Retiree Member 1. Open Session / Call to Order: A. Roll Call B. Pledge of Allegiance OPEN SESSION

2 January 18, 2012 BRIEF AGENDA PAGE 2 2. Discussion of the Agenda: A. Items to be pulled from the Action Calendar. B. Items to be pulled from the Discussion Calendar. C. Items to be pulled from the Consent Agenda. D. Emergency Items to be added. E. Approval of the Agenda. F. Approval of the Consent Agenda. 3. Public comments on items that are NOT on the Action or Discussion Calendars. (Public comments on items that are on the Action or Discussion Calendars shall only be made during the Board s discussion of these items.): (Breaks: 9:40 9:50 a.m., 10:50 11:00 a.m.) (Lunch 12:00 12:30 p.m.) ACTION CALENDAR 4. Approval of the Minutes of December 21, 2011, regular adjourned meeting. 5. Adoption/Direction of Audit Report by Brown Armstrong: Andrew J. Paulden, CPA, Managing Partner: (3 attachments) 6. Reaffirm Board Policies and Investment Objectives. 7. Discussion/Approval of the egennaker Service Agreement and the DocuWare Maintenance and Support Subscription. (2 attachments) DISCUSSION CALENDAR Item 8 is for discussion only. Items requiring action will be placed on a future agenda. 8. Reports/Correspondence/Announcements: A. Retirement Administrator: 1. Market Value Graph of the Retirement System s Assets 2. Book vs. Market Graph that compares the Market Value of the system assets to the Book Value of Assets. (1 attachment, final to be distributed) 3. Update on Pension Administration Computer System (PAS). 4. Statement of Economic Interest/Conflict of Interest Disclosure Statements Annual Filing (Due April 1, 2012)

3 January 18, 2012 BRIEF AGENDA PAGE 3 5. ICERS administrative goals for Article from PIMCO: Outlook for (1attachment) 7. Article from Pension & Investments: Wurts Chief Strategist Out B. Board Members: C. County Counsel: 9. Convene to Closed Session: CLOSED SESSION A. Conference with Legal Counsel Existing Litigation (Government Code (a).) disability retirement applications relating to the following: Rosendo Garcia Blanca Jimenez David Fimbres Jose Romero Arnoldo Nunez Jose Fajardo Raul Rodriguez B. Government Code (b)(1) Conference with Legal Counsel, Anticipated Litigation (1 item). OPEN SESSION 10. Announcement of Closed Session Action: 11. BUDGET: CONSENT AGENDA Retirement Administrator recommends approval of Items 11 through 13 Approval of the following claims for the Retirement Budget, including Board Members in attendance at the 01/18/2012 meeting, and including an Investment Funds Expense Summary, and a JPMorgan Cash Account Summary, pursuant to Govt. Code Section & (2 attachments) A. REGULAR BUDGET: PERMANENT SALARIES $ 22, EXTRA HELP 5, BILINGUAL PAY OVERTIME SOCIAL SECURITY-MEDICARE SPECIAL TRAINING CALAPRS Training Attendance Fees June-Dec SACRS-County car mileage (R Rodrigues & A Hardaway) SACRS-County car fuel surcharge (R Rodrigues & A Hardaway) 26.23

4 January 18, 2012 BRIEF AGENDA PAGE 4 REGULAR BUDGET (continued) COUNTY CONTR RETIREMENT 2, GROUP INSURANCE 2, INS DENTAL/VISION RETIREMENT PENSION BOND 1, RETIREMENT HEALTH PLAN 1, INS-VOLUNTARY LIFE COMMUNICATIONS-AT&T Phone Charges MAINTENANCE & EQUIPMENT OCE Copier Maintenance-December Alfa & Omega-New network connection for Network Printer MEMBERSHIPS CALAPRS Annual Dues , OFFICE EXPENSE FedEx Charges Visible 1099Rs Board Room Granicus System-July-November Office Depot-Supplies Sparkletts County Mail Room Charges-November Office Depot-Supplies Academi Awards & Trophies-Plaque for Terry Huskey PROFESSIONAL & SPECIAL SERVICES IT Charges-August , IT Charges-September , OVERHEAD REIMBURSEMENT ICERS Corp. Rent, utilities, CR&R 4, LM Building Maintenance-Dec Janitorial Services LM Building Maintenance-Dec Janitorial Services PROFESSIONAL & SPECIAL SERVICES Brown Armstrong-Audit (partial) 23, SUBTOTAL: $ 84, EXTRA HELP Retirement Board Meeting of 01/18/12 B. INVESTMENT FUNDS EXPENSE SUMMARY: TOTAL: $ $ ACTUARIAL SURVEY Segal Consulting-July-Sept $ 22, SPECIAL TRAINING SACRS-Expense Reimbursement (H Bumgart) SACRS-Expense Reimbursement (N Jauregui) INVESTMENT MANAGEMENT SERVICES REAL ESTATE RREEF Management Fees-July-Sept , RREEF Incentive Fee Credit (52,657.57)

5 January 18, 2012 BRIEF AGENDA PAGE 5 INVESTMENT FUNDS EXPENSE SUMMARY (continued) INVESTMENT MANAGEMENT SERVICES ALTERNATIVES PIMCO BRAVO Management Fees-July-Sept , PIMCO Distressed Management Fees-July Sept , LEGAL SERVICES County Counsel Charges-July-Dec , COMPUTER TECHNOLOGY IT Charges-PAS-August Linea Solutions-Dec , Superior Court-HR Interface CDW Government-Network Storage Module 6, JEA-ITS Support-Nov , IT Charges-PAS-Sept , Administrative Agenda: A. Enrollment of New Members to ICERS (11): B. Terminations (3): C. Service Retirement: 1. MaryLou Corral-Cruz Public Health Effective Date: 11/18/ Esther Espinoza Social Services Effective Date: 11/18/ Dora Basilio Social Services Effective Date: 11/16/ Marlene Brown Assessors Effective Date: 12/02/2011 TOTAL: $103, Jerry Santillan Planning/Intersystem Effective Date: 11/04/ Jerry Santillan CEO Effective Date: 11/04/2011

6 January 18, 2012 BRIEF AGENDA PAGE 6 D. 60% Continuance of Service Retirement Allowance per Govt. Code Section : Robert Hefner Deceased: 11/21/2011 E. 100% Continuance of Service Retirement Allowance per Govt. Code Section 31762: Thomas De Paoli Deceased: 12/11/2011 F. Final Payment of Service Retirement Allowance & Death Benefit per Govt. Code Section : 1. Rafaela Smith Deceased: 12/05/ Ruby Thomas Deceased: 12/17/ Chester Lane Deceased: 12/17/2011 G. Final Payment of Non-Service Connected Disability Retirement Allowance and Return of Unused Accumulated Contributions per Govt. Code Sections , , and Death Benefit: Ellen Campbell Deceased: 12/06/2011 H. Final Payment of Non-Service Connected Disability Retirement Allowance Per Govt. Code Section & Death Benefit: Richard Peterson Deceased: 12/14/ Retirement Administrator contract. OTHER ITEMS 14. Previously Approved Seminars/Conferences (list available in Retirement office). Adjournment: Meeting was adjourned at. m. to February 15, 2012 at 8:30 a.m.