2016 Annual Conference & Exhibition

Transcription

1 Celebrating 75 Years ADVOCACY RESEARCH EDUCATION NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS 2016 Annual Conference & Exhibition San Diego, CA May PROGRAM BOOK Follow Us on Twitter #NCPERS16

2 Thank You to the Generous Sponsors of the Annual Conference

3 TABLE OF CONTENTS TABLE OF CONTENTS Letter from the NCPERS President. 2 Conference General Information. 4 Index of Speakers. 5 Schedule of Events. 7 Exhibitor List. 33 Speaker Biographies. 39 NCPERS Leadership. 81 NCPERS National Committee. 83 Biographies of NCPERS Officers & Executive Board Members. 84 NCPERS Resolutions. 101 #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 1

4 LETTER FROM THE NCPERS PRESIDENT Welcome to the Annual Conference & Exhibition in San Diego! I look forward to welcoming you and providing you first-rate education as well as a venue to network with your colleagues and other pension professionals. The year 2016 marks a milestone in NCPERS history. The National Conference on Public Employees Retirement Systems was established in That makes us 75 years old! At this year s ACE, we will be celebrating NCPERS, diamond anniversary. We will be celebrating not only the long-seasoned tenure of the oldest national trade group for public pensions, but also the success that public pensions have had for over 150 years in the United States. We are very proud of our long history and that of our member plans. What public pensions have achieved for tens of millions of hardworking public employees over 150 years is nothing short of amazing. Providing retirement security in an efficient, low-cost, and sustainable way to teachers, public safety personnel, and other state and local public servants is a major achievement. Those who seek to undermine our plans still refuse to acknowledge our mission, history, and success. They attack public pensions as dinosaurs that have outlived their usefulness or as special interests pitting public pension versus taxpayers. These assaults come from a variety of places, including the US Senate, federal bankruptcy courts, state legislatures, and even wellknown foundations with positive public personas, but with dark and until recently hidden agendas. 2 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

5 LETTER FROM THE NCPERS PRESIDENT NCPERS is undaunted! In fact we see much to be optimistic about. For instance, our effort to bring retirement security to the private sector is gaining ground and recognition. State initiatives for retirement security are further along now than we could have ever dared to dream back in 2011 when we launched our Secure Choice Pension proposal. I am excited about the challenges and opportunities ahead. While I cannot see 75 years into the future, I am certain that NCPERS will continue to play a leading role in that future. I encourage you to attend the sessions and take back to your plans all that you have learned. Our futures depend on your actively exercising your fiduciary responsibility of learning (and applying what you ve learned) for the benefit of your participants. Have a great conference! Melvyn Aaronson NCPERS President #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 3

6 CONFERENCE GENERAL INFORMATION REGISTRATION HOURS Sunday, May 15 Monday, May 16 Tuesday, May 17 Wednesday, May 18 EXHIBIT HALL HOURS 2:00 PM 6:00 PM 6:30 AM 2:00 PM 7:00 AM 2:00 PM 7:30 AM 12:00 PM The exhibit hall will be open during the following hours: Sunday, May 15 4:00 PM 6:00 PM Monday, May 16 8:00 AM 1:30 PM Tuesday, May 17 8:00 AM 1:30 PM CorPERS LOUNGE HOURS Sunday, May 15 Monday, May 16 Tuesday, May 17 2:00 PM 6:00 PM 8:00 AM 1:30 PM 8:00 AM 1:30 PM REGISTRATION BADGES Please wear your name badge at all times. Your badge serves as your passport to NCPERS activities, including the educational sessions, exhibit hall, and social events. Attendees without name badges will not be admitted. RECOMMENDED DRESS We recommend that you wear layers to all educational sessions, as the temperature in meeting rooms is difficult to regulate at times, and personal comfort can vary widely. CELL PHONES/PDAs Please remember to respect your neighbors and turn off your cell phones, pagers, and other electronic devices (or put them on vibrate) while in sessions. NCPERS ANNUAL CONFERENCE APP Download the NCPERS Annual Conference app for easy access to the conference agenda, handouts, and exhibitor information! Follow Us on Twitter #NCPERS16 4 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

7 INDEX OF SPEAKERS NAME ORGANIZATION PAGES Akant, Adnan Fischer Francis Trees & Watts, a BNP Paribas Investment Partner 28, 40 Anson, Mark Commonfund 17, 40 Baggesen, Eric California Public Employees Retirement System 17, 41 Baron, Randall Robbins Geller Rudman & Dowd LLP 23, 42 Behar, Greg Legal & General Investment Management America 17, 42 Bowen, Timothy Mesirow Financial 11, 43 Bowers, Mary HSBC Global Asset Management (USA) Inc. 12, 43 Check, Darren Kessler Topaz Meltzer & Check, LLP 24, 44 Clark, David Arkansas Local Police & Fire Retirement System 23, 44 Clark, James Nuveen Asset Management 19, 45 Cole, Brandon Arthur J. Gallagher & Co. 13, 45 Driscoll, David Buck Consultants, LLC, A Xerox Company 22, 46 Foreman, Doug Kayne Anderson Rudnick 28, 46 Gauss, Robert Ice Miller 10, 47 Gilden, Carol Cohen Milstein Sellers & Toll PLLC 27, 47 Gould, Anthony J.P. Morgan Asset Management 14, 48 Heilman, Don Gallagher Benefit Services, Inc. 13, 48 Heinel, Lori State Street Global Advisors 21, 49 Heinrichs, Brad Foster & Foster 25, 50 Hope, Harold Goldman Sachs Asset Management 29, 50 Kahn, Michael NCPERS 10, 51 Kalwarski, Gene Cheiron 22, 52 Kim, Hank NCPERS 25, 52 Klausner, Robert Klausner, Kaufman, Jensen & Levinson 15, 53 Koehler, Dinah UBS Global Asset Management 21, 54 Krause, Dan Mass Mutual Financial Group 26, 54 Linder, John Pension Consulting Alliance, LLC 29, 55 Link, Jim The PFM Group 9, 55 Lowman, Thomas Bolton Partners, Inc. 27, 56 Macke, Christopher American Realty Advisors 26, 56 Martin, Allan NEPC, LLC 17, 57 #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 5

8 INDEX OF SPEAKERS NAME ORGANIZATION PAGES Martinez, James Arthur J. Gallagher & Co. 11, 58 Matthews, George Analytic Investors 28, 58 McCourt, Stephen Meketa Consulting 26, 59 Meany, Peter First State Investments 19, 59 Miller, Girard Orange County Employees Retirement System 9, 17, 29, 60 Mink, Jennifer Investment Performance Services, LLC 19, 61 Moede, Jason William Blair 12, 62 Morris, Roland Van Eck Global 12, 62 Murphy, Shaun Legal & General Investment Management America 17, 63 Musikavanhu, Tendai One Stone Global LLC 12, 63 Nicholas, Blair Bernstein Litowitz Berger & Grossmann LLP 24, 64 Nielsen, Daniel Great Lakes Advisors 19, 65 O Dell, Jennifer LiUNA! 26, 65 Palandjian, Peter Intercontinental Real Estate Corporation 26, 66 Pedigo, Jennifer TIAA-CREF 14, 67 Petersen, Kai Buck Consultants, LLC, A Xerox Company 22, 68 Reilly, Mary Sharon Chicago Teachers Pension Fund 27, 68 Roda, Anthony Williams & Jensen 10, 69 Sapadin, Brian GlobeTax 13, 70 Saxena, Maya Saxena White P.A. 15, 70 Sexauer, Stephen San Diego County Employees Retirement Association 17, 71 Simon, Scott Fire and Police Pension Association of Colorado 18 Simmons, Troy Nationwide 25, 72 Smith, Gregory Colorado Public Employees Retirement Association 9, 18, 72 Spellos, James Meeting U. 12, 14, 20, 22, 73 Thompson, Leslie Gabriel, Roeder, Smith & Company 18, 74 Tikellis, Pamela Chimicles & Tikellis LLP 24, 75 Vaudt, David Governmental Accounting Standards Board 9, 76 Waldman, Chet Wolf Popper LLP 24, 76 Wingfield, Laverne Ullico Casualty Group, Inc. 11, 77 Wylie, Robert South Dakota Retirement System 16, 78 Yasenchak, Richard INTECH 21, 79 6 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

9 INDEX OF SPEAKERS

10 SCHEDULE OF EVENTS BALLROOM LOCATION KEY Indigo Ballroom Level 2 Aqua Ballroom Level 3 Sapphire Ballroom Level 4 SUNDAY, MAY 15 REGISTRATION 2:00 PM 6:00 PM Sapphire Ballroom Foyer EXHIBITION 4:00 PM 6:00 PM Sapphire Ballroom CorPERS LOUNGE 2:00 PM 6:00PM Sapphire Ballroom 412 WELCOMING RECEPTION 4:00 PM 6:00 PM Sapphire Ballroom Sponsored by Robbins Geller Rudman & Dowd LLP MONDAY, MAY 16 BREAKFAST 6:30 AM 7:45 AM Indigo Ballroom AE Sponsored by William Blair & Company REGISTRATION 6:30 AM 2:00 PM Sapphire Ballroom Foyer EXHIBITION 8:00 AM 1:30 PM Sapphire Ballroom 8 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

11 SCHEDULE OF EVENTS CorPERS LOUNGE 8:00 AM 1:30 PM Sapphire Ballroom 412 FIRST GENERAL SESSION 8:00 AM 10:30 AM Sapphire Ballroom 8:00 AM Opening Ceremony & Annual Report Mel Aaronson, NCPERS President 8:30 AM GASB Update: What NCPERS Members Need to Know In this session, Governmental Accounting Standards Board Chair David A. Vaudt will present his views on board activities that are designed to improve accounting and financial reporting for US state and local governments, and will highlight the key issues and impacts NCPERS members should know about. Specifically, Vaudt will discuss issues relating to the other postemployment benefits (OPEB) standards finalized in 2015, pensions, and fair value. Speaker: David Vaudt, Governmental Accounting Standards Board 9:00 AM Panel on Pension Obligation Bonds Many people have strong feelings and opinions regarding the use of pension obligation bonds (POBs) as part of an overall strategy to fund the unfunded portion of their pension liabilities. In January 2015, the Government Finance Officers Association (GFOA) issued an advisory opinion on POBs recommending that jurisdictions not issue POBs. This panel will discuss the pitfalls, risks, benefits, and other considerations that should be evaluated when considering issuing POBs. Panelists: Greg Smith, Colorado Public Employees Retirement Association Girard Miller, Orange County Employees Retirement System Jim Link, The PFM Group #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 9

12 SCHEDULE OF EVENTS 9:45 AM Federal Regulatory Update This presentation will provide an overview of current federal legislative and regulatory developments that relate to state and local governmental pension plans. The presentation will include a discussion of current federal legislation, including the proposed annuity accumulation plan for public pensions, the Public Employee Pension Transparency Act (PEPTA), legislation to modify the pickup rule under the Internal Revenue Code, proposals to reform the federal tax code, and legislation to repeal the Social Security benefit offset known as the Windfall Elimination Provision (WEP). The presenters will also give an update on regulatory developments from the IRS and the Department of the Treasury. Speakers: Anthony Roda, Williams & Jensen Robert Gauss, Ice Miller 10:15 AM Pension Reforms and Economic Volatility Pensions are great stabilizers of our economy. For example, in bad economic times, when people s incomes decline owing to loss of jobs, pension checks keep local businesses afloat. On the other hand, when we dismantle pensions, as prevailing reforms are attempting to do, it is logical to expect that economic volatility will increase. Using empirical data, this session will explore how pension reforms of the last 30 years have increased economic volatility in the United States and individual states. The session will also explore the relationship between pension reforms and volatility in financial markets and in state and local revenues. Speaker: Michael Kahn, NCPERS EXHIBIT BREAK 10:30 AM 11:00 AM Sapphire Ballroom 10 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

13 SCHEDULE OF EVENTS 11:00 AM 12:00 PM CONCURRENT BREAKOUT SESSIONS SESSION A 11:00 AM 12:00 PM Sapphire Ballroom A Best Practices in Fiduciary Liability Insurance During five years of claims experience from the NCPERS Fiduciary Liability Insurance Program, claims managers and agents have honed best practices in the event of a lawsuit to help minimize costly and lengthy litigation for NCPERS members. This presentation will review claims trends, risk management, insurance coverage, and claim response/reporting. Skill Level: Intermediate Moderator: William Lundy, Arkansas Fire and Police Pension Review Board Speakers: Timothy Bowen, Mesirow Financial Laverne Wingfield, Ullico Casualty Group, Inc. James Martinez, Arthur J. Gallagher & Co. SESSION B 11:00 AM 12:00 PM Sapphire Ballroom B Strategies in Commodities Markets Global commodities have experienced significant volatility during the past several years because of the end of the socalled commodity super cycle and uncertain supply-anddemand dynamics resulting in declining price movements across major commodities markets. The outlook ahead for many commodities does not appear promising, as significant price recoveries are not expected; however, it is believed that attractive opportunities and return potential are available, particularly when explored through investment strategies that are more opportunistic. This session will discuss the following: m The current state of global commodities: What are the market drivers and the outlook ahead? m Long-only exposure to commodities appears less than optimal, so what other approaches are available? m An evaluation of the opportunities within selected commodity markets, both long and short m Beyond crude oil and gold: Which off-the-run markets offer opportunity, and how can one access them? Skill Level: Intermediate Moderator: Aaron Hanson, City of Omaha Police & Fire Retirement System Speakers: Jason Moede, William Blair Roland Morris, Van Eck Global #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 11

14 SCHEDULE OF EVENTS SESSION C 11:00 AM 12:00 PM Sapphire Ballroom CD Why Global Diversification Matters Now The benefits of diversification are well understood in the investment community. Modern portfolio theory s key insight that investors can reduce portfolio risk simply by holding assets that are not positively correlated is now accepted as mainstream. However, diversification can work differently for investors over time. In this session, the presenters will share with you why they think it is worthwhile to examine global diversification from a practitioner s perspective in today s marketplace. Skill Level: Intermediate Moderator: John Niemiec, Fairfax County Professional Firefighters & Paramedics Speakers: Mary Bowers, HSBC Global Asset Management (USA) Tendai Musikavanhu, One Stone Global LLC SESSION D 11:00 AM 12:00 PM Sapphire Ballroom 400 Social Media 101: The Essential Discussion Facebook Twitter Instagram Pinterest. These social media have revolutionized how people communicate and share information. They are also really simple to use and master, whether on your desktop computer or mobile device. If you have any fear or question about how to use these tools (and stay better connected with friends and family), this session will demystify these services and give you the fundamental information you need to be part of the social media revolution. After attending this session, the attendee will able to: m Identify the six major social media services m Understand the strengths and weaknesses of each of the six, as well as how to get started and become comfortable with them m Use these tools on both desktop and mobile devices Skill Level: Basic Speaker: James Spellos, Meeting U. 12 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

15 SCHEDULE OF EVENTS 12:15 PM 1:15 PM CONCURRENT BREAKOUT SESSIONS SESSION A 12:15 PM 1:15 PM Sapphire Ballroom A Meeting Member and Plan Data Breach Challenges Identity theft and data breaches continue to present challenges to pension funds and their members. This session will explore the increasing threats, along with ways that trustees and fund directors can seek to mitigate the impact on their members, as well as on the plan. Skill Level: General Moderator: Mel Aaronson, NCPERS Speakers: Don Heilman, Gallagher Benefits Services, Inc. Brandon Cole, Arthur J. Gallagher & Co. SESSION B 12:15 PM 1:15 PM Sapphire Ballroom B Tax Recovery: Are You Leaving Money on the Table? When US pension funds receive income in the form of dividends or interest from holdings of non-us securities, such as ADRs (American depository receipts), foreign ordinary shares, or bonds, the income is often taxed at a high statutory withholding rate by the government of the issuer s jurisdiction. Under double taxation treaties, however, investors may qualify for a lower treaty rate and reclaim the difference. Pensions are often entitled to exemption and can be able to reclaim the entire withholding. GlobeTax will discuss the recovery process and help identify entitlement opportunities to boost pension returns. Skill Level: General Moderator: Daniel Fortuna, Firemen s Annuity and Benefit Fund of Chicago Speaker: Brian Sapadin, GlobeTax #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 13

16 SCHEDULE OF EVENTS SESSION C 12:15 PM 1:15 PM Sapphire Ballroom CD All Aboard the Alts Train: Allocating to Alternatives in a Low-Return World In this session, the speakers explore how defined-benefit plans are increasingly looking to alternatives as a way of finding the right balance between stability, diversification, and increased return potential while mitigating risk. Investing in assets like commercial real estate, private credit, farmland, and infrastructure can provide the opportunity for real benefits. These alternative strategies can better align funds with investment objectives for long-term results, with the added benefits of inflation protection and low levels of volatility. Skill Level: Intermediate Moderator: Pat McElligott, NCPERS Speakers: Tony Gould, J.P. Morgan Asset Management Jennifer Pedigo, TIAA-CREF SESSION D 12:15 PM 1:15 PM Sapphire Ballroom 400 It s App-tastic: 60 Apps in 60 Minutes Do you still have your computer? Or are your life and business becoming more productive and more mobile by using tablets instead? Whether you re using an ipad, Android, or Windows device, without knowing the best productivity apps available, chances are you re not using your time most efficiently. This fast-paced session will review and showcase 60 of the most useful apps available today. Attendees are encouraged to bring their tablets and smartphones, and share their favorite apps with their peers. After attending this session, the attendee will be able to: m Identify 60 of the most useful productivity apps available m Understand the tools available for each of the major mobile platforms m Use their mobile devices more effectively for everything they need to do Skill Level: Basic Speaker: James Spellos, Meeting U. 14 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

17 SCHEDULE OF EVENTS LUNCH & LECTURE SERIES This session is not open to registered guests. 1:30 PM 2:30 PM Indigo Ballroom AE Say Good Governance! Not Good Grief! The emerging trend in investment philosophy is a focus on Environmental, Social, and Governance (ESG) criteria. Our Lunch and Learn session will have a general discussion of all three aspects but will primarily focus on G, the governance aspect. We will explore how it is being used to the measurable advantage of retirement systems through corporate engagement, director diversity and term limits, and enforcement of federal and state securities laws when directors and corporations take an errant path. Skill Level: General Speakers: Robert Klausner, Klausner, Kaufman, Jensen & Levinson Maya Saxena, Saxena White P.A. NATIONAL COMMITTEE ELECTION 2:45 PM 3:15 PM Sapphire Ballroom NETWORKING ACTIVITIES 3:15 PM 5:00 PM Networking events hosted by NCPERS members. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 15

18 SCHEDULE OF EVENTS TUESDAY, MAY 17 BREAKFAST 6:30 AM 7:45 AM Indigo Ballroom AE Sponsored by William Blair & Company REGISTRATION 7:00 AM 2:00 PM Sapphire Ballroom Foyer EXHIBITION 8:00 AM 1:30 PM Sapphire Ballroom CorPERS LOUNGE 8:00 AM 1:30 PM Sapphire Ballroom 412 SECOND GENERAL SESSION 8:00 AM 10:30 AM Sapphire Ballroom 8:00 AM Flexible Defined-Benefit Designs for the Next Generation of Public Employees The South Dakota Retirement System (SDRS) is fully committed to the defined-benefit model. However, owing to certain environmental factors, a new flexible defined-benefit design for new SDRS members after June 30, 2017, was passed into law during the recently completed legislative session. The new design provides enhanced sustainability, supports workforce management, improves plan benefits, better equalizes member benefits, and adds flexible retirement savings. This session will discuss how this redesign has not added to the total cost of the existing benefit structure and highlight how flexible the defined-benefit model can be for the next generation of public employees. Speaker: Robert A. Wylie, South Dakota Retirement System 16 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

19 SCHEDULE OF EVENTS 8:30 AM Charting the Future of Public Plan Investments: A Conversation with Plan Investment Officers This panel of public plan investment officers will explore the various investment and policy issues affecting public pensions today. The panelists will share their views on a number of investment issues, including performance outlook, trends in asset allocation, and investment fees. Moderator: Mark Anson, Commonfund Panelists: Eric Baggesen, California Public Employees, Retirement System Stephen Sexauer, San Diego County Employees Retirement Association 9:15 AM The Hidden Costs of Indexing Passive investing is frequently viewed as a low-cost commodity and an efficient way to gain market exposure. It is not that simple. The actual cost of indexing is more complicated than the headline investment management fee might suggest. Furthermore, the bundling of services does not always lead to the expected economies of scale and can in fact create some embedded conflicts. The speakers in this session will discuss the importance of raising the veil in this age of heightened sensitivity to governance, costs, and transparency. Speakers: Shaun Murphy, Legal & General Investment Management America Greg Behar, Legal & General Investment Management America 9:45 AM Investment Governance: Time for a Family Discussion Public pension plan trustees and staff are revisiting their models for investment governance and the roles of their consultants. Larger plans are moving away from beauty contests in which trustees select money managers from a field of finalists, toward a streamlined decision-making model. Their objective is to spend more time on big picture portfolio-level decisions and board investment education that actually move the needle on returns. This discussion will review the pros and cons of various decision-making models. Speakers: Girard Miller, Orange County Employees Retirement System Allan Martin, NEPC Scott Simon, Fire & Police Pension Association of Colorado #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 17

20 SCHEDULE OF EVENTS EXHIBIT BREAK 10:30 AM 11:00 AM Sapphire Ballroom 11:00 AM 12:00 PM CONCURRENT BREAKOUT SESSIONS SESSION A 11:00 AM 12:00 PM Sapphire Ballroom A The Defined-Benefit Plan: The Most Efficient Use of Taxpayer Dollars This session will use the recently published paper A Comprehensive Study Comparing the Cost and Effectiveness to Alternative Plan Designs Authorized by Senate Bill to examine whether alternative plan structures exist that can do a better job of delivering retirement benefits. The session first will describe the goals of this study and briefly highlight the Colorado Public Employees Retirement Association s Hybrid Defined Benefit Plan system s own metrics for measuring plan effectiveness. Then the session will look at defined-contribution plans and cash balance plans, as well as Social Security, and assess their ability to line up with the benefit policy as established by the legislature. The assumptions used and the methods employed to create the analysis will be detailed, and the conclusions will be examined in light of the study s goals. Please join us for this session if you find yourself in the middle of the defined-benefit/defined-contribution plan discussion and are seeking ways to understand the core of that discussion and how to provide a data-driven response. Skill Level: General Moderator: Carol Stukes-Baylor, City of Philadelphia Board of Pensions & Retirement Speakers: Leslie Thompson, Gabriel, Roeder, Smith & Co. Gregory Smith, Colorado Public Employees Retirement Association 18 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

21 SESSION B 11:00 AM 12:00 PM Sapphire Ballroom B SCHEDULE OF EVENTS Economically Targeted Investments The US Department of Labor (DOL) recently issued new guidance that expands ERISA plan fiduciaries ability to make economically targeted investments (ETIs) and to consider environmental, social, and governance (ESG) issues when investing in companies and funds. DOL Interpretive Bulletin explains that plan fiduciaries may invest in ETIs that provide collateral benefits so long as they have risk and return characteristics equivalent to competing investment choices, but it expands previous interpretation that such collateral considerations are not merely tiebreakers. IB further explains that ESG factors may have a direct bearing on an investment s performance and, in such cases, should be part of the fiduciary s primary investment analysis. This session will help fiduciaries understand ETIs and ESG integration, discuss the new ERISA guidance, and explore investment opportunities that could enhance public pension portfolios through better investment decision making and additional economic returns. Skill Level: General Moderator: Stacy Birdwell, Shreveport Fire Fighters Association Local 514 Speakers: Daniel Nielsen, Great Lakes Advisors Jennifer Mink, Investment Performance Services, LLC SESSION C 11:00 AM 12:00 PM Sapphire Ballroom CD The Benefits of Listed Infrastructure Investing Infrastructure investing is gaining increasing acceptance as an alternative source of income and defensive growth. The speakers will outline the case for listed infrastructure investing as an effective way to access the asset class, followed by a discussion of key risks and where they see value. Skill Level: General Moderator: Rick Miller, Ontario Municipal Employees Retirement System Speakers: James Clark, Nuveen Asset Management Peter Meany, First State Investments #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 19

22 SCHEDULE OF EVENTS SESSION D 11:00 AM 12:00 PM Sapphire Ballroom 400 Social Media 201: Beyond the Basics If you attended the Social Media 101 session, or just feel comfortable learning more about how social media can work for you, this session is one you shouldn t miss. Beyond the Basics provides you with a deeper understanding of how these services work and how you can use them without spending your entire day on them. Topics discussed include the importance of social curation and aggregators. After attending this session, the attendee will able to: m Understand how social media and mobile tools have changed how we consume news and information m Identify more than 10 curation tools that can help you share and utilize social information for your personal use m Understand the importance of social aggregators to use social media tools most efficiently Skill Level: Basic Speaker: James Spellos, Meeting U. 12:15 PM 1:15 PM CONCURRENT BREAKOUT SESSIONS SESSION A 12:15 PM 1:15 PM Sapphire Ballroom A Perspectives on Market Returns This session will cover two separate topics on market returns. 1. From peak to trough during the global financial crisis, the S&P 500 dropped by nearly 55 percent, requiring an astounding 123 percent positive return and more than four years just to break even. Owing to this and more frequent major fluctuations in market returns, volatility management has been developed as one of the most important tools for investors in today s market environment. INTECH will discuss how lowand managed-volatility strategies offer investors the opportunity to participate in the stock market with the 20 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

23 SCHEDULE OF EVENTS goal of realizing marketlike or above-market returns while minimizing downside exposure. 2. Today, sustainability has evolved into a key component of enterprise risk management. Sustainability issues can create or destroy value, and companies that effectively incorporate sustainability risk into their enterprise risk management framework are poised to outperform their competitors over time. UBS Asset Management will outline a structured framework that allows trustees and pension staff to logically assess the real business implications of creating a sustainable portfolio. In doing so, it can help pension portfolios to earn a better capital return and produce something of value to shareholders in a concrete, financial way. Skill Level: Intermediate Moderator: Peter Carozza, Jr., Uniformed Professional Fire Fighters Association of Connecticut Speakers: Dinah Koehler, UBS Asset Management Richard Yasenchak, INTECH SESSION B 12:15 PM 1:15 PM Sapphire Ballroom B Demystifying Factor Investing While the concept of factor-based investing is not new, interest in it has grown significantly with the rise of smart beta products. Factor-based investing will become an important tool for clients as they seek to capture returns in an extended low-return, low-growth environment. This presentation will seek to demystify factor-based investing by (1) defining factor-based investing, (2) providing a framework for understanding and evaluating factor-based portfolios, and (3) and providing concrete examples of how pension funds could incorporate these concepts into their own investment plans. Skill Level: Intermediate Moderator: Ken Hauser, Policeman s Annuity & Benefit Fund of Chicago Speaker: Lori Heinel, State Street Global Advisors #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 21

24 SCHEDULE OF EVENTS SESSION C 12:15 PM 1:15 PM Sapphire Ballroom CD Case Studies in Defined-Benefit Plan Sustainability Since the 1970s, there has been a steady decline in the number of defined-benefit (DB) plans in the United States. There are many different factors that have contributed to this decline in the various sectors of the pension plan industry. For single-employer corporate DB plans, the increased regulatory complexity and volatile accounting disclosures are the chief factors. For multiemployer DB pension plans, key factors appear to be the existence of withdrawal liability and the decline in union membership. In the public-sector arena, while there have not been wide-scale DB plan declines, pressures have been mounting to consider defined-contribution plans, at least for new hires, and the primary argument being used is that DB pension plans are not sustainable. This session will cover actual cases of DB plans that are sustainable and have successfully navigated the turbulent investment markets since 2000, and describe how these plans have succeeded. Skill Level: Intermediate Moderator: Kathy Harrell, NCPERS Speakers: David Driscoll, Buck Consultants, LLC Kai Petersen, Buck Consultants, LLC Gene Kalwarski, Cheiron SESSION D 12:15 PM 1:15 PM Sapphire 400 It s App-tastic: 60 Apps in 60 Minutes Do you still have your computer? Or are your life and business becoming more productive and more mobile by using tablets instead? Whether you re using an ipad or an Android or Windows device, without knowing the best productivity apps available, chances are you re not using your time most efficiently. This fast-paced session will review and showcase 60 of the most useful apps available today. Attendees are encouraged to bring their tablets and smartphones, and share their favorite apps with their peers. Skill Level: Basic Speaker: James Spellos, Meeting U. 22 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

25 SCHEDULE OF EVENTS ADMINISTRATORS FORUM 12:15 PM 1:15 PM Sapphire Ballroom 411 In response to the need for administrators of small plans to meet and discuss issues with peers who have similar challenges, this open forum will allow municipal and county public plan administrators and staff members to ask questions and discuss mutual concerns. Moderated by David Clark, Arkansas Local Police & Fire Retirement System LUNCH & LECTURE SERIES This session is not open to registered guests. 1:30 PM 2:30 PM Indigo Ballroom AE Reversing the Course Drastic changes in mergers and acquisitions (M&A) litigation have resulted in growing recoveries. Randall Baron will discuss recent law developments, involving M&A litigation deals challenged by shareholders, that will substantially enhance shareholders ability to recover monies after their board has led them into misguided and lowball takeovers. He will review topics of importance to shareholders, including liability against those who promote and advise on takeovers, and will highlight recent plaintiff trial wins in cases such as In re Rural Metro Corp. Stockholders Litig., In re Dole Food Co., Inc. Stockholder Litig., and others. Skill Level: Intermediate Speaker: Randall Baron, Robbins Geller Rudman & Dowd LLP NATIONAL COMMITTEE EXECUTIVE BOARD ELECTION 2:30 PM 3:00 PM Aqua Ballroom CD NETWORKING ACTIVITIES 3:00 PM 5:00 PM Networking events hosted by NCPERS members. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 23

26 SCHEDULE OF EVENTS WEDNESDAY, MAY 18 BREAKFAST 6:30 AM 7:45 AM Indigo Ballroom AE Sponsored by William Blair & Company REGISTRATION 7:30 AM 12:00 PM Sapphire Ballroom Foyer THIRD GENERAL SESSION 8:00 AM 10:30 AM Sapphire Ballroom 8:00 AM Recent Legal Developments Panel Discussion This panel discussion will cover recent legal developments that affect institutional investors. Moderator: Darren Check, Kessler Topaz Meltzer & Check, LLP Panelists: Chet Waldman, Wolf Popper LLP Pamela Tikellis, Chimicles & Tikellis LLP Blair Nicholas, Bernstein Litowitz Berger & Grossmann LLP 9:00 am Cost Drivers of Pension Plans Have you ever wondered which components of a pension plan cost the most? Is your deferred retirement option plan as expensive as some people think? If you are forced to reduce benefits in your plan, what is the best way to go about it? Understanding the components of a pension plan that drive costs the most will be extremely helpful to those that negotiate benefits and those involved in designing and administering pension plans. This session 24 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

27 SCHEDULE OF EVENTS will review those costs and provide you with a better understanding of those cost drivers. Speaker: Brad Heinrichs, Foster & Foster 9:30 am Healthcare Costs in Retirement This presentation will provide insights that can help you plan for what may be one of your greatest expenses in retirement. You ll learn how healthcare expenses will impact your retirement income, what Medicare covers and what costs you pay out of pocket, options you can use to help prepare for these expenses, and how to get a personalized retirement healthcare cost estimate from Nationwide. Speaker: Troy Simmons, Nationwide 10:15 am NCPERS Code of Conduct This session covers the NCPERS Code of Conduct for Public Pension Service Providers that was introduced in The 10-point code of conduct is intended to be endorsed by all public pension plan service providers regardless of whether they are NCPERS members or not. The code of conduct establishes high ethical standards and is a tool to disclose and minimize conflicts of interest between public pensions and their vendors. Speaker: Hank Kim, NCPERS REFRESHMENT BREAK 10:30 AM 11:00 AM Sapphire Ballroom Terrace #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 25

28 SCHEDULE OF EVENTS SESSION A 11:00 AM 12:00 PM CONCURRENT BREAKOUT SESSIONS 11:00 AM 12:00 PM Sapphire Ballroom A Responsible Lending Practices: A Primer for Public Fund Trustees and Staff Many public pension plans have responsible contractor policies (RCPs) that seek to ensure that investments in real estate are being monitored to ensure that those hired for construction and maintenance of properties owned by the fund are being treated and paid fairly. While these RCPs generally apply to the fund s equity investments, many times they do not apply to a fund s debt investments. Failure to have responsible lending language can lead to risky investments in real estates where failure to have responsible contractors can undermine important health, safety, and wage benefit standards for workers. This session will provide participants with model language that their funds can adopt and use, some examples of large insurance firms that have already adopted model language, and a discussion on why funds should be concerned about their debt investments in real estate. Skill Level: Intermediate Moderator: Dale Chase, Howard County Retirement System Speakers: Jennifer O Dell, LiUNA! Stephen McCourt, Meketa Consulting Dan Krause, Mass Mutual Financial Group SESSION B 11:00 AM 12:00 PM Sapphire Ballroom B Why and How to Invest in Real Estate During this session attendees will learn about the current real estate market trends, the forecast market conditions, and how pensions can benefit from investing in commercial real estate. Skill Level: Basic Moderator: Sharon Hendricks, California State Teachers Retirement System Speakers: Peter Palandjian, Intercontinental Real Estate Corporation Christopher Macke, American Realty Advisors 26 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

29 SESSION C 11:00 AM 12:00 PM Sapphire Ballroom CD SCHEDULE OF EVENTS Strengthening Plan Governance Through Model Legislation This session will discuss how plan governance can be improved through the creation and state-by-state adoption of model legislation. The presenter will review how this model legislation can give trustees and elected officials a useful tool for strengthening the funding and management of public pension plans. Skill Level: Basic Moderator: Dan Givens, Miami Fire Fighters Relief & Pension Fund Speaker: Thomas Lowman, Bolton Partners, Inc. 12:15 PM 1:15 PM CONCURRENT BREAKOUT SESSIONS SESSION A 12:15 PM 1:15 PM Sapphire Ballroom A Using Antitrust Laws to Break Banks Pricey Stranglehold on the Financial Markets Pension funds are employing a powerful new tool antitrust law claims to fight large investment banks who maintain an anticompetitive stranglehold on important financial markets. By filing suit against these giant banks for keeping prices artificially high through collusion and other practices, funds like the Chicago Teachers Pension Fund seek not only to get money back but, in the case of interestrate swaps, to move trading to electronic exchanges. This change would increase transparency and pave the way to better pricing in this $1.4 trillion-a-day market. This session will give an overview of the abuses that prompted investors to file the interest-rate swaps case and cases involving other financial instruments, before leading a Q&A session with a representative from the Chicago Teachers board of trustees, whose fund initiated the groundbreaking lawsuit. Skill Level: Intermediate Moderator: Tina Fazendine, NCPERS Speakers: Carol Gilden, Cohen Milstein Sellers & Toll Mary Sharon Reilly, Chicago Teachers Pension Fund #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 27

30 SCHEDULE OF EVENTS SESSION B 12:15 PM 1:15 PM Sapphire Ballroom B Protecting Your Portfolio from Unintended Currency Risk Over the past decade, US public plans have increased their exposure to global markets through both public and private market allocations. Much of this exposure tends to be unhedged. From 2002 to 2009, the US dollar went through a weakening cycle, benefiting unhedged exposures. In 2013, however, the US dollar began to strengthen as the United States led a weak global recovery. The strong dollar, combined with divergence in central bank monetary policies, has resulted in unhedged, non-us exposures, adding volatility and potential losses to otherwise diversified portfolios. This presentation will outline different strategies to reduce unintended risk (e.g., currency volatility) and address how plan sponsors can add long-term value (not complexity) to an already diversified portfolio using active currency management. The presenter will also provide insight into the benefits and considerations of moving from a passive strategy to a more defensive hedging strategy, or even an active overlay strategy. Skill Level: Intermediate Moderator: Emmit Kane, Employees Retirement System of the State of Hawaii Speaker: Adnan Akant, Fischer Francis Trees & Watts SESSION C 12:15 PM 1:15 PM Sapphire Ballroom CD Equity Investment Strategies In this session attendees will learn about the benefits of a focused equity strategy in today s market and beyond, as well as what covered calls are, how they can be implemented into your equity allocation, and what risks/ benefits plans might expect. Skill Level: Basic Moderator: Patricia Reilly, Teachers Retirement System of the City of New York Speakers: Doug Foreman, Kayne Anderson Rudnick George Matthews, Analytic Investors 28 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

31 SCHEDULE OF EVENTS CIOs & INVESTMENT STAFF FORUM 12:15 PM 1:15 PM Sapphire Ballroom 411 This closed-door session for public pension CIOs and internal investment staff members will focus on strategies to build a stronger investment professional network within NCPERS, and also includes a special educational presentation on a newly evolving macro portfolio strategy called crisis risk offset, by John Linder of Pension Consulting Alliance. The moderator, Girard Miller, will lead an open discussion on potential strategies for collaborative fee discounts and an RFP registry that could benefit the profession as well as the vendor community. Moderator: Girard Miller, Orange County Employees Retirement System Speaker: John Linder, Pension Consulting Alliance, LLC LUNCH & LECTURE SERIES This session is not open to registered guests. 1:30 PM 2:30 PM Indigo Ballroom AE Using the Secondary Market to Actively Manage Private Equity Portfolios As the private equity secondary market has grown and matured, it is increasingly being used as an active management tool by public pension plans. This presentation will provide an overview of the current secondaries market. It will then address how public plans are using this market to prune manager relationships; adjust asset-allocation exposures; reduce environmental, social, governance, and reputational risk; and reshape their existing portfolios to better reflect current investment views. By providing generalized examples and defining the challenges and opportunities, this session will let participants walk away with an understanding of the tools and approaches of active illiquid asset management being used by sophisticated investors in alternatives. Skill Level: Intermediate Speaker: Harold Hope, Goldman Sachs Asset Management #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 29

32 SCHEDULE OF EVENTS ANNUAL BUSINESS MEETING 2:45 PM 3:30 PM Sapphire Ballroom 400 Business meeting agenda: m Swearing in of newly elected NCPERS executive board members. m Review and membership vote on NCPERS conference resolutions NETWORKING ACTIVITIES 3:30 PM 5:00 PM Networking events hosted by NCPERS members. CLOSING RECEPTION 6:00 PM 7:00 PM Sapphire Ballroom Terrace Sponsored by Permal Group, Inc. CLOSING DINNER & ENTERTAINMENT 7:00 PM 9:00 PM Sapphire Ballroom This year s closing dinner entertainment will feature The Sensation Showband, a variety dance cover band that is sure to keep you entertained. 30 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

33 SCHEDULE OF EVENTS NOTES #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 31

34 NOTES 32 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

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36 2016 EXHIBITOR LIST This list includes only those exhibitors registered as of April 25, For more information on the listed exhibitors, please visit the NCPERS app. Organization Booth Number American Realty Advisors 10 Arthur J. Gallagher & Co. 48 Berman DeValerio 37 Bernstein Liebhard LLP 35 Bernstein Litowitz Berger & Grossmann LLP 47 BMO Global Asset Management 33 BMO Global Asset Management Trust & Custody Services 6 BNP Paribas Investment Partners 44 Capital Dynamics, Inc. 36 CFA Institute 22 Chimicles & Tikellis LLP 16 Cohan & Steers 40 Cohen Milstein Sellers & Toll PLLC 11 Columbia Threadneedle Investments 45 Common Fund 20 GlobeTax 12 GovInvest, Inc. 7 Great Lakes Advisors 1 Herndon Capital Management 5 Icon Integration and Design 23 Identity Guard 49 Invesco Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

37 2016 EXHIBITOR LIST Organization Booth Number J.P. Morgan 13 Keane 39 Lazard Asset Management 18 Lieff Cabraser Heimann & Bernstein, LLC 42 Loomis Sayles & Company 32 Lyxor Asset Management 41 Marco Consulting Group 4 Nationwide 19 Northern Trust 50 One Stone Global 2 Pathway Capital Management 9 Pension Gold Retirement Group 17 Pension Technology Group 3 PNC Institutional Asset Management 31 Robbins Geller Rudman & Dowd 14 S&P Dow Jones Indices 29 Saxena White P.A. 28 Scott & Scott 30 Solovis, Inc. 26 TIAA Global Asset Management 38 UBS Asset Management 43 Ullico 46 Victory Capital 27 William Blair Investment Management, LLC 15 #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 35

38 EXHIBIT HALL MAP 36 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

39 EXHIBIT HALL MAP #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 37

40 NOTES 38 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

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42 SPEAKER BIOGRAPHIES ADNAN AKANT Adnan Akant is head of the Currencies Team at Fischer Francis Trees & Watts (FFTW, a subsidiary of BNP Paribas Investment Partners) and is responsible for setting strategy for currency alpha and overlay portfolios as well as the currency portion of global/international portfolios. Prior to working at FFTW, Akant spent six years managing the World Bank s liquidity portfolio and advising its treasurer on the bank s multicurrency borrowing program. Akant has 37 years of investment experience. He holds a PhD in systems science from MIT and an MS in finance from the MIT Sloan School of Management, as well as BS and MS degrees from MIT in electrical engineering and computer science. He is also a member of the New York Academy of Sciences and Sigma Xi, The Scientific Research Society. MARK ANSON Mark Anson joined Commonfund in January 2016 as chief investment officer. Prior to joining Commonfund, he was the chief investment officer for the Bass Family Office, which was recognized as Family Office of the Year by Family Office Review in Previously, he was the president of Nuveen Investments, a full-service asset management firm with more than $200 billion in assets. Prior to his tenure at Nuveen, Anson served as the chief executive officer and chief investment officer for both Hermes Pension Management and the British Telecom Pension Scheme (BTPS). Prior to joining BTPS, he served as the chief investment officer of the California Public Employees Retirement System. Anson earned a BA in economics and chemistry from St. Olaf College, a JD from Northwestern University School of Law, and a PhD and master s degree in finance from Columbia University Graduate School of Business, all 40 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

43 SPEAKER BIOGRAPHIES with honors. Anson has received several industry awards in recognition of his leadership in institutional asset management. Most recently, he earned the Chartered Financial Analyst, Chartered Alternative Investment Analyst, certified public accountant, and Chartered Global Management Accountant professional degrees. He is a member of the bar of the State of New York and the State of Illinois. ERIC BAGGESEN Eric Baggesen is the managing investment director of asset allocation and risk management for the California Public Employees Retirement System (CalPERS). He is responsible for the planning and implementation of the strategic allocation of the fund s approximately $300 billion of investment assets. An additional aspect of Baggesen s responsibility is the monitoring of investment risk deriving from the asset allocation exposures. These activities are carried out by a team of about 30 internal staff members along with external consultants and advisers. Prior to becoming the MID of asset allocation and risk management in 2013, Baggesen was the senior Investment Officer of Global Equity. In this role he led the deployment of approximately 50 percent of CalPERS, assets into the global public equity markets. He joined CalPERS in November 2004 as the fund s senior portfolio manager for internally managed equity strategies. Baggesen holds bachelor s and master s degrees from the University of Rhode Island, is a Chartered Financial Analyst, and holds a Charter in Alternative Investments. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 41

44 SPEAKER BIOGRAPHIES RANDALL J. BARON Randall J. Baron is a partner in Robbins Geller Rudman & Dowd LLP s San Diego office. He specializes in securities litigation, corporate takeover litigation, and breach of fiduciary duty actions. For almost two decades, Baron has headed a team of lawyers whose accomplishments include obtaining instrumental rulings at both injunction and trial phases, and establishing liability of financial advisers and investment banks. With an in-depth understanding of the law governing mergers and acquisitions as well as breach of fiduciary duty, an ability to work under extreme time pressures, and the experience and willingness to take a case through trial, he has been responsible for recovering more than $1 billion for shareholders. GREG BEHAR Greg Behar joined Legal & General Investment Management America (LGIMA) in 2015 as head of index strategy. Behar is responsible for providing investment thought leadership to investors and is responsible for developing comprehensive investment solutions and insights across the spectrum of index strategies. Prior to joining LGIMA, Behar was a senior vice president and head of global equity investment strategy at Northern Trust Asset Management. Behar s team provided investment thought leadership to investors globally and collaborated with investors to provide investment solutions and insights across the spectrum of index, quantitative, and fundamental active equity strategies. Behar was previously a senior investment strategist for the Global Quantitative Management and Global Index Equity teams. Prior to joining Northern Trust, Behar was a portfolio specialist for the active quantitative equity strategies at Deutsche Asset Management. Behar holds a BA in economics from Binghamton University and serves on various index advisory panels. 42 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

45 SPEAKER BIOGRAPHIES TIMOTHY BOWEN For the past 12 years, Timothy Bowen, a senior vice president in Mesirow Financial s management liability practice, has specialized in negotiating competitive pricing and comprehensive coverage for clients seeking fiduciary liability insurance. He has extensive experience with municipal and public pension funds and currently places more than 200 insurance policies a year on behalf of his clients, making his practice one of the largest in the nation. Bowen keeps clients and other members of the management liability team apprised of developments and changes in the marketplace, including claims trends as well as coverage developments. He earned a bachelor of business administration degree from the University of Iowa with a major in finance. MARY BOWERS Mary Bowers is a senior portfolio manager for global high-yield portfolios. She joined HSBC Global Asset Management in September Prior to joining HSBC, Bowers worked for Aberdeen Asset Management as part of the Artio Global (formerly Julius Baer Asset Management) high-yield team, which was acquired in the spring of She acted as a portfolio manager for the global high-yield products at Aberdeen/Artio for 10 years. From 2001 to 2003, she was an analyst at Deutsche Bank in the global energy and power investment banking group. She has been working in the industry since Bowers earned a BA in history from Yale University. She is a Chartered Financial Analyst charterholder. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 43

46 SPEAKER BIOGRAPHIES DARREN CHECK Darren J. Check, a partner of Kessler Topaz Meltzer & Check, LLP, concentrates his practice in the area of shareholder litigation and client relations. Check manages the firm s Portfolio Monitoring and Business Development departments and works closely with its Case Evaluation Department. In addition, Check consults with institutional investors from around the world with regard to their investment rights and responsibilities. He currently works with clients in the United States, Canada, the Netherlands, Sweden, Denmark, Norway, Finland, the United Kingdom, Italy, Germany, Austria, Switzerland, France, Australia, Asia, and the Middle East, including a number of sovereign wealth funds. Check assists clients in evaluating and analyzing opportunities to take an active role in shareholder litigation, arbitration, and other loss recovery methods. This includes US-based litigation and arbitration, as well as an increasing number of cases from jurisdictions around the globe. In an increasingly complex investment and legal landscape, Check has experience advising on traditional class actions, direct actions, non-us opt-in actions, fiduciary actions, and arbitrations, to name a few. Clients frequently call upon Check to help ensure they are taking an active role when their involvement can make a difference, and that they are not leaving money on the table. DAVID CLARK David Clark is executive director of the Arkansas Local Police and Fire Retirement System. 44 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

47 SPEAKER BIOGRAPHIES JAMES CLARK James Clark is the client portfolio manager for Nuveen Asset Management s Real Estate Securities, Global Infrastructure, and Real Asset Income Strategies. In this role, he works with portfolio managers to develop and communicate information about the products investment teams, process, and performance to institutional, retail, and definedcontribution plan analysts and advisers. Clark started working in the financial services industry in 2001 and joined Nuveen in Previously, he spent five years as an asset management adviser responsible for retail product distribution throughout a regional territory for BlackRock, Inc. Prior to that position, he served as an external and internal wholesaler at Merrill Lynch Investment Managers, where he began his career. Clark earned a BA in Spanish from Minnesota State University Moorhead. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Minnesota. BRANDON COLE Brandon Cole joined Arthur J. Gallagher & Co. as an area vice president in He has more than 10 years of experience in the property and casualty insurance industry and previously served as a directors and officers (D&O), employment practices, and cyber liability underwriter for a national insurance company. The majority of Cole s work has been with nonprofit and governmental entities. He has extensive experience in the design, financing, and implementation of comprehensive insurance programs. Cole is an active participant in Gallagher s public entity and scholastic practice, and previously served as national program leader. This practice represents Gallagher s largest industry segments and is designed to share insight and best practices, as well as create purchasing leverage, for the firm s governmental clients. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 45

48 SPEAKER BIOGRAPHIES DAVID DRISCOLL David Driscoll is a principal and consulting actuary at Buck Consultants, where he serves as national public-sector consulting Leader. He consults to a wide variety of public-sector clients. He qualified as a Fellow of the Society of Actuaries in 1994 and an enrolled actuary under ERISA in He holds a baccalaureate degree from Indiana University and a master s degree from the University of Rochester. From 2003 through 2006, Driscoll served as a member of the pension committee of the Actuarial Standards Board, which develops and maintains the actuarial standards of practice applicable to pension actuarial work in the United States. Currently, he serves as a member of the California Actuarial Advisory Panel and as a member of the general committee of the Actuarial Standards Board. DOUGLAS S. FOREMAN Douglas S. Foreman, CFA, is chief investment officer, portfolio manager, and member of the executive management committee at Kayne Anderson Rudnick. He has approximately 29 years of investment experience. Before joining Kayne Anderson Rudnick in 2011, Foreman was director of equities at HighMark Capital Management, and before that he was group managing director and chief investment officer of US equities at Trust Company of the West (TCW). He earned a BS in marine engineering from the US Naval Academy and an MBA from Harvard University. Foreman is a Chartered Financial Analyst charterholder. 46 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

49 SPEAKER BIOGRAPHIES ROBERT GAUSS Robert Gauss, a partner with Ice Miller LLP, has been practicing for more than 22 years and concentrates his practice in helping local and state governmental employers with employee benefit questions and concerns on matters of retirement, health, and welfare benefits. His job includes working with governmental plans across the country on tax, compliance, qualified domestic relations order, and fiduciary issues involving both defined-benefit and defined-contribution plans. CAROL V. GILDEN Carol V. Gilden is a partner in the securities litigation and investor protection practice at Cohen Milstein Sellers & Toll PLLC, a national law firm with more than 90 lawyers in diverse practice areas whose underlying mission is to protect those harmed by illegal corporate behavior. Gilden, who joined Cohen Milstein in 2007, represents public pension funds and Taft-Harley pension funds in class action, transaction, and derivative litigation, as well as opt-out cases. She is the resident partner of the firm s Chicago office. Over the course of 30 years, Gilden has worked on cases that have resulted in aggregate recoveries in excess of several billion dollars for investors. Most recently, Gilden served as lead counsel in ITT Educational Services Securities Litigation, which settled for approximately $17 million. She also was co lead counsel in Rubin v. MF Global Ltd., which settled for $90 million in Her work in the case, which included winning an appeal before the Second Circuit Court of Appeals of the lower court s dismissal, was singled out by the National Law Journal in naming Cohen Milstein to its Plaintiffs Hot List. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 47

50 SPEAKER BIOGRAPHIES ANTHONY S. GOULD Anthony S. Gould, managing director, is head of the Global Pension Solutions & Advisory Group at J.P. Morgan Asset Management. He has 28 years of investment experience and began his career at J.P. Morgan Securities. He has been with Asset Management since 2011, heading up the long-duration client portfolio management team, and most recently served as a senior portfolio manager for liability-aware multi-asset portfolios. Before rejoining the firm in 2011, Gould was head of Barclays Capital s Pension Solutions Group, where he advised institutions on asset allocation, risk management, liability-driven investment strategies, and alternative portfolio strategies. Gould is co-author of Quantitative Management of Bond Portfolios (Princeton University Press, 2006). He was responsible for the creation of replicating bond indexbaskets, a synthetic fixed-income beta, for which a patent is pending. Prior to joining Lehman Brothers in 2003, he spent more than 15 years as a global fixed-income portfolio manager with Franklin Templeton Institutional and Barclays (BZW Investment Management). He started his career trading gilts for J.P. Morgan in London. Gould holds a BSc (Honors) in economics from the London School of Economics and is a member of the CFA Institute and the Chartered Alternative Investment Analyst Association. DON HEILMAN Don Heilman joined Gallagher Benefit Services, Inc., as an area vice president in He has more than 20 years of experience in the benefits industry, having served both as a benefits manager and as a consultant. Heilman has extensive experience in the design, financing, and implementation of comprehensive health and welfare benefits programs. In particular, he has significant experience and expertise in self-funding, 48 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

51 SPEAKER BIOGRAPHIES and regularly advises on the design and management of integrated population health management strategies. Other areas of expertise include paid time off / disability design and retiree health. Heilman obtained his undergraduate degree in mathematics and has completed graduate work in statistics. He is affiliated with a number of human resources associations and is a frequent speaker on benefits-related topics. LORI HEINEL As chief portfolio strategist at State Street Global Advisors, Lori Heinel leads a team of professionals responsible for helping advisers, consultants, and institutional clients analyze economic and market developments; assess the impact to their portfolios; and identify specific products and solutions to help them manage risk and take advantage of market opportunities. She is a member of State Street s Executive Management Group. Prior to joining State Street Global Advisors, Heinel was chief investment strategist and head of investment products for OppenheimerFunds, Inc., a $250 billion asset management firm. Before her time at OppenheimerFunds, she was a managing director and head of investments for Citi Private Bank. Heinel received her MBA from Carnegie Mellon University and her AB in religion from Princeton University. She earned the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 49

52 SPEAKER BIOGRAPHIES BRAD HEINRICHS Brad Heinrichs is president/ceo and a consulting actuary at Foster & Foster Consulting Actuaries, Inc., in Fort Myers, Florida. His firm specializes in providing actuarial and administrative support to more than 300 public retirement plans nationwide, including 200 in the state of Florida. In addition, Foster & Foster is under contract with the Division of Retirement to provide actuarial support to all Chapter 175 and 185 plans that are not enhanced through local legislation, as well as by the Illinois Department of Insurance to provide actuarial valuations for all downstate police and firefighters retirement programs. He also provides GASB 43/45 actuarial consulting services to several counties, municipalities, and fire control districts in Florida. Heinrichs has more than 17 years of pension plan and postretirement welfare plan consulting experience, in which the size of his clients has ranged from as few as 25 to as many as 200,000 members. Heinrichs is a Fellow of the Society of Actuaries, the highest designation an actuary can obtain. He is also a member of the Academy of Actuaries and an enrolled actuary under ERISA. He is a graduate of the University of Iowa with a BS in actuarial science and economics. HAROLD HOPE Harold Hope is a managing director in the Alternative Investments & Manager Selection (AIMS) Group, based in New York. He is co-head of the AIMS private equity secondaries strategies, including the Vintage Funds; a member of the Private Equity Investment Committee; and co chief operating officer of the Private Equity Investment Team. Previously, he worked in the Leveraged Finance and Corporate Finance groups in the Investment Banking Division. He first joined Goldman Sachs in 1999, prior to which he 50 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

53 SPEAKER BIOGRAPHIES worked as a financial analyst at the investment banking boutique Bowles Hollowell Conner & Co. He received a BA in economics and political science from the University of North Carolina at Chapel Hill, where he was a member of Phi Beta Kappa, and a JD, cum laude, from Harvard Law School, where he was an editor of the Harvard Law Review. MICHAEL KAHN Michael Kahn is director of research for NCPERS, bringing with him more than 30 years of research experience in public pensions and state and local tax and economic policies. After his retirement from the National Education Association, he established the Institute on Public Pension Solutions (IPPS) for the purpose of preserving and enhancing public pensions. In 2014, with support from NCPERS, Kahn developed a joint NCPERS IPPS Public Pension Funding Forum with Joseph Stiglitz, Nobel Laureate, at Columbia University. Kahn has also engaged several other Nobel Laureates to bring new thinking into future pension discussions. Kahn served as a trustee of the Employee Benefit Research Institute and was a member of the Public Employee Committee of the International Foundation of Employee Benefit Plans. He has graduate and postgraduate training in multiple subjects, including economics, geography, and sociology. He holds three master s degrees and a PhD from the University of Hawaii, University of North Carolina, and Catholic University of America. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 51

54 SPEAKER BIOGRAPHIES GENE KALWARSKI Gene Kalwarski is CEO and a founding partner of Cheiron, Inc., a national actuarial consulting firm headquartered in Washington, DC. For more than 30 years, Kalwarski has been one of the nation s leading advisers to multibillion-dollar jointly trusteed pension funds in both the public and private sectors. He has served as plan actuary to many such funds and is often retained as a specialist to help them address complex funding issues. He is an occasional witness before congressional committees and regularly addresses state and local legislative bodies and boards of trustees on behalf of statewide pension funds. Kalwarski began his career as an actuary at the Pension Benefit Guaranty Corporation. Soon after, he joined Milliman in opening its Washington, DC, practice and assumed various leadership positions in the firm during his 20-plus years there. In 2002, Kalwarski and several of his colleagues at Milliman formed Cheiron. HANK KIM Hank Kim is executive director and counsel for NCPERS. Kim directs the day-to-day operation of the largest public pension trade association in the United States. His responsibilities include strategic planning for NCPERS, promoting retirement security for all workers through access to defined-benefit pension plans, and the expansion of NCPERS role in the continuing debate on health care. Prior to joining NCPERS, Kim served for six years as a governmental affairs representative for an international public-sector union, working on benefits, appropriations, homeland security, and healthcare issues. He currently serves on the Fairfax County Uniformed Retirement System, a $1 billion public employee retirement system providing pension coverage for the Fire and Rescue Department, Sheriff s Department, and certain other 52 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

55 SPEAKER BIOGRAPHIES sworn employees of Fairfax County. Kim has also served on the Morningstar Pension, Endowment, and Foundation Data Steering Committee and the City of Virginia Beach Mayor s Committee on Employee Pensions. Kim received his bachelor of arts degree in political science from the University of Wisconsin Madison and his doctor of jurisprudence from Indiana University Bloomington Maurer School of Law. He is a member of the District of Columbia Bar. ROBERT KLAUSNER Robert Klausner is the principal in the law firm of Klausner, Kaufman, Jensen & Levinson. For 39 years, he has been engaged in the practice of law, specializing in the representation of public employee pension funds. The firm represents state and local retirement systems in more than 20 states and is listed in US News & World Report Best Law Firms. Klausner has assisted in the drafting of many state and local laws on public employee retirement throughout the United States. Klausner is a frequent speaker on pension education programs and has published numerous articles on fiduciary obligations of public employee pension trustees. He is co-author of the book State and Local Government Employment Liability (Thomson Reuters West) and author of the first comprehensive book on the law of public employee retirement systems, State and Local Government Retirement Law: A Guide for Lawyers, Trustees, and Plan Administrators (Thomson Reuters West, 2009, expanded in 2015). Klausner graduated Phi Beta Kappa from the University of Florida with a bachelor of arts and from the University of Florida Levin College of Law with a juris doctor degree. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 53

56 SPEAKER BIOGRAPHIES DINAH A. KOEHLER Dinah A. Koehler joined UBS Global Asset Management in February 2015 and is a member of the Sustainable Equities team. Koehler has primary responsibility for the overall product positioning and development of sustainable equity strategies, as well as marketing and communication to existing and prospective clients globally. Koehler is a recognized researcher on corporate sustainability. She has worked in and advised large global corporations, national governments, and international organizations on sustainability issues. She won the 2005 Academy of Management s Organizations and the Natural Environment Division s Best Dissertation Prize. Koehler has been invited to present her research at the University of Michigan, Yale, the Wharton School, Columbia University, and Harvard University and has published her work in peerreviewed journals and books. She has advised Harvard and Wharton on academic programs and research databases related to enterprise sustainability. Prior to joining UBS Global Asset Management, Koehler worked at Deloitte, The Conference Board, the US Environmental Protection Agency s Office of Research and Development, and the Wharton School. She received her bachelor s degree from Wellesley College, a master s degree from Tufts University, and a doctorate in science from Harvard University. DAN KRAUSE Dan joined MassMutual Financial Group as its Taft-Hartley business development consultant in the fall of His duties include acting as labor liaison with respect to MassMutual s Responsible Contractor Policy, strengthening relationships with various building trades groups, and supporting the Taft-Hartley team in event coordination and marketing efforts. Prior to joining MassMutual Krause was the fund administrator and financial secretary for IUOE Local 478 for 25 years. 54 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

57 SPEAKER BIOGRAPHIES JOHN LINDER Since 2009, John Linder has been a senior consultant with Pension Consulting Alliance, providing ongoing and project-based advice to the investment committees, boards, and executive staff of plan sponsors. In addition to his clientfacing responsibilities, he conducts ongoing research on capital markets, portfolio construction, risk management, and investment strategies. A native of Minnesota, he received his BA from Middlebury College and his master s from the Kenan-Flagler School of Business at UNC Chapel Hill. He and his family reside in the Yamhill County pinot noir region of Oregon. JIM LINK Jim Link is a managing director and chief marketing officer (CMO) of The PFM Group with more than 25 years of experience in the retirement plan, asset management, and trust and custody markets. In the CMO role, he manages a team focused on providing strategic marketing support services to asset management client managers, including market and prospect research, sales strategy support, responses to requests for proposals, collateral material, and thought leadership pieces. Link also co-leads the retirement finance services practice at PFM. In this role, he works with clients and public organizations around the country to provide education, plan design, governance, and asset management strategies that help meet clients pension and other postemployment benefits (OPEB) needs. He received his bachelor of science degree in economics with a minor in management from Texas A&M University in College Station, Texas. Link has also earned the certified employee benefit specialist (CEBS) designation awarded by the International Foundation of Employee Benefit Plans and the Wharton School of the University of Pennsylvania. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 55

58 SPEAKER BIOGRAPHIES THOMAS LOWMAN Thomas B. Lowman, FSA, EA, MAAA, FCA, is the chief actuary at Bolton Partners, Inc. He has more than 37 years of pension actuarial experience. Lowman is vice chair of the Conference of Consulting Actuaries (CCA) Public Plans Community and the American Academy of Actuaries Public Plans Subcommittee. Lowman is recognized as one of the top national experts on public-sector plans and is sought out as a resource in this area by professional actuarial societies, GASB, and national journalists. His work with national actuarial organizations is extensive. He served a three-year elected term on the Society of Actuaries Pension Section Council and served as chair of the Society of Actuaries Pension Section Research Committee. He also served on the Actuarial Standards Board Pension Committee and the Society of Actuaries Enterprise Risk Management Task Force on Pensions. He has authored numerous papers that are considered primary actuarial reference documents, such as Design and Actuarial Aspects of Deferred Retirement Option Programs, co-authored with Robert Bolton, and Considerations in the Evaluation of Gain Sharing Designs for the Society of Actuaries, co-authored with Colin England and Ann Sturner. To access Tom Lowman s writings, visit Tom s Corner at www. boltonpartners.com/tom-s-corner.html. CHRISTOPHER MACKE Christopher Macke is American Realty Advisors managing director of research and strategy, responsible for leading the firm s research efforts and working closely with the firm s investment and portfolio management teams in developing investment analysis to support acquisitions and strategy implementation for its commingled funds. Macke also serves as a member of the firm s investment committee. Prior to joining American, Macke was a senior research strategist with CBRE Global Research & 56 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

59 SPEAKER BIOGRAPHIES Consulting as part of the firm s macroeconomic, property market, and capital market outlook and strategy efforts. Macke s previous real estate experience includes working for large institutional investors such as G.E. Real Estate, providing investment strategy consulting services to large institutional investors such as the California Public Employees Retirement System, and advising regulatory agencies, including the US Federal Reserve and the US Treasury Department. He is currently a contributor to the Federal Reserve s Beige Book and a member of the Pension Real Estate Association Research Advisory Council. ALLAN MARTIN Allan Martin joined NEPC in He manages the Western Region consulting activities from NEPC s office in Redwood City, California. He is also a member of NEPC s Executive Committee and is a member of the International Equity Advisory Group. In March 2008, Martin was recognized as Public Plan Consultant of the Year by Money Management Letter. In 2012, he was recognized by aicio as one of the top 25 of the World s Most Influential Investment Consultants, ranking number 2. Prior to joining NEPC, Martin worked for four years at Dresdner RCM Global Investors in San Francisco as managing director/principal, global marketing and client services. While there, he managed the global marketing activities of DRCM, and played a lead role in the acquisition of RCM by Dresdner and the subsequent repositioning of RCM to a global asset manager. Martin earned an MBA in finance/operations research from Stanford University in 1969, and a BA in mathematics, cum laude, from Stanford in He is a member of Phi Beta Kappa and the Stanford Faculty Club. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 57

60 SPEAKER BIOGRAPHIES JAMES MARTINEZ James Martinez, CLCS, has oversight of the day-to-day client relationships as part of Arthur J. Gallagher & Co. s Public Entity and Scholastic Division in Denver, Colorado. Martinez has more than seven years experience in risk management, including time spent in public finance investment banking and fixed-income asset management. GEORGE MATTHEWS George Matthews is a leading authority on low-volatility equity strategies and serves as a product specialist for Analytic Investors equity team. In this role, he helps educate consultants and prospective clients about the research foundation behind the firm s strategies. As managing director, he is also responsible for communicating both Analytic s investment approach and the investment team s current research agenda. Matthews was previously with Wells Capital Management as a senior consultant relationship manager principal. He has also held roles as a fixed-income portfolio manager at Wilshire Associates and Banc of America Capital Management. He earned an MBA in finance from the University of Oregon and a BS in business administration from California State University, Chico. Matthews holds the Chartered Financial Analyst designation and is a member of the CFA Society Los Angeles. He joined Analytic in 2009 and has 20 years of investment industry experience. 58 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

61 SPEAKER BIOGRAPHIES STEPHEN McCOURT Stephen McCourt joined Meketa Investment Group in 1994 and has more than 20 years of investment experience. McCourt is a managing principal and co chief executive officer of the firm. He serves as the lead consultant for several institutional funds with public, Taft- Hartley, endowment, and nonprofit plan sponsors. His consulting work includes investment policy design, strategic and tactical asset allocation modeling, asset liability modeling, investment education, and investment manager analysis. In addition, McCourt is a member of the firm s Private Markets Investment Committee, Investment Policy Committee, and Global Macroeconomic/ Tactical Asset Allocation Committee, and he manages the firm s external Global Macroeconomic Advisory Committee. McCourt received his graduate degree, a master of liberal arts in history, from Harvard University, and his undergraduate degree in economics and political science from the University of Vermont. McCourt received the Chartered Financial Analyst designation from the CFA Institute and is a member of the CFA Society of San Diego. He is also a member of the IFEBP. PETER MEANY Peter Meany is the head of global listed infrastructure for First State Investments (FSI). In this role, he is responsible for managing infrastructure securities on behalf of institutional and wholesale clients in North America, Europe, Asia Pacific, and the Middle East. Since establishing the strategy in 2007, he has built a high-quality team of investment specialists who have delivered consistent outperformance through a wide range of market conditions. He has more than 19 years experience as a specialist infrastructure portfolio manager and analyst. Prior to joining FSI in January 2007, Meany was responsible for research coverage of the infrastructure #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 59

62 SPEAKER BIOGRAPHIES and utilities sectors at Credit Suisse (Australia). He also gained experience at Credit Suisse as an analyst in the telecom and energy sectors. He started his career as an analyst at Macquarie Equities when the infrastructure sector was in its infancy. Meany holds a bachelor of economics (finance) degree from Macquarie University in Sydney, Australia. GIRARD MILLER Girard Miller is the chief investment officer of the Orange County Employees Retirement System. He is one of the nation s most widely published authorities on public finance, investments, and retirement system finances, and has recently attracted national attention for his innovative work on investment procurement, fee management, contractual income strategies, and portfolio risk management. Previously, Miller was the senior strategist at The PFM Group, working with state and local governments as a consultant in the fields of retirement plan investments and sustainable retirement plans. During that period, he authored more than 100 columns on public finance and pension fund investments for Governing magazine. In 2008, he was a voting member of the Governmental Accounting Standards Board. On the private-sector side, Miller was president of the Janus mutual funds and was chief operating officer of Janus Capital Group, Inc., a global investment company with $170 billion of assets under management. Prior to that, he was president and chief executive officer of the ICMA Retirement Corporation for 10 years after heading Fidelity Investments public funds group. Earlier in his career, he was the technical services director for the Government Finance Officers Association (GFOA), where he authored the renowned GFOA textbooks Investing Public Funds and Pension Fund Investing. He is a Chartered Financial Analyst (CFA). 60 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

63 SPEAKER BIOGRAPHIES JENNIFER MINK Jennifer Mink is a senior consultant and partner at Investment Performance Services, LLC, an independent investment consulting firm that provides objective and timely investment advice to definedbenefit, defined-contribution, and welfare plans throughout the United States. She is responsible for client relationships and marketing efforts across the country and works on all aspects of client funds, including investment policy design, asset allocation strategies, performance reporting, compliance monitoring, and investment manager searches. With nearly 20 years of investment experience, Mink is a member of the IPS Investment Committee, which helps formulate strategic policy for the firm. Mink specializes in hedge fund research, manager due diligence, and education at IPS and was a contributing author on hedge fund investing in Investment Policy Guidebook for Trustees (fifth edition, 2004), published by the International Foundation of Employee Benefit Plans, Inc. She embraces best industry practices in governance, ethics, and professionalism to provide the most appropriate and productive investment advice to plan sponsors in order to achieve their goals. Mink is committed to delivering quality service and guidance that is in the best interest of her clients and their fund beneficiaries. A native of Philadelphia, Mink grew up in a family of building tradesmen, firefighters, and police officers. She earned her BS from North Carolina State University and an MBA from Rider University. She is a frequent speaker at educational conferences and an avid runner who has completed the New York City Marathon and the Boston Marathon. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 61

64 SPEAKER BIOGRAPHIES JASON MOEDE Jason Moede is a portfolio manager and member of the William Blair Hedge Fund Strategies investment committee who has been in the investment industry since He conducts manager research and strategy evaluation and is responsible for portfolio construction. Before joining William Blair in September 2011, Moede was a portfolio manager and quantitative strategist with TradeLink, LLC, where he managed both proprietary and hedge fund portfolios in the systematic futures space. Before joining TradeLink, he was co-founder and managing director of Constellation Investment Group, LLC (a joint venture partner of TradeLink). At Constellation, he was responsible for the research, development, and management of the company s equity market neutral hedge fund. Before launching Constellation in June 2003, Moede was a director at BCG ValueScience, a subsidiary of Boston Consulting Group, which focused on shareholder value creation and management strategies for Fortune 500 companies. Before joining BCG ValueScience in May 2000, Moede served as business development manager at a subsidiary of Bechtel Enterprises from March 1997 to May 2000, and was an economist at Skadden, Arps, Slate, Meagher & Flom LLP from September 1994 to March Moede earned his bachelor of arts degree in economics from Carleton College. ROLAND MORRIS Roland Morris joined Van Eck Global in He serves as portfolio manager for the Commodity Index Strategy, and as commodities strategist for Van Eck s Hard Assets Strategies, focusing on macro strategies, commodities trading, and client development. Prior to joining Van Eck, Morris was a macro trading and commodities trading specialist, manager of a futures clearing and execution service, and a client relationship manager at various top 62 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

65 SPEAKER BIOGRAPHIES financial services companies. He has more than 30 years of experience in the financial services industry. Morris received a BA in economics from the University of Vermont. SHAUN MURPHY Shaun Murphy joined Legal & General Investment Management America in 2013 as the director of index funds. He was promoted to head of US Index Funds in Prior to joining LGIMA, Murphy held various positions at Northern Trust. Most recently, he was the head of international index equities, where he was responsible for the management of portfolio management groups in the United States; Europe, the Middle East and Africa; and Asia Pacific. He started his career at State Street Global Advisors in London as an investment manager. Murphy is a Chartered Financial Analyst charterholder. He holds a BA (honors) in business studies from the University of Sunderland, UK. TENDAI MUSIKAVANHU Tendai Musikavanhu is co-founder of the One Stone Capital Group (previously UC Capital) and One Stone Global LLC ( One Stone ). He holds the Chartered Financial Analyst charter from the USbased CFA Institute and a bachelor of accounting science (BCompt) degree from the University of South Africa. Musikavanhu has 25 years of work experience in financial services in southern Africa, the United Kingdom, and the United States. He was one of the first black CFA charterholders in South Africa. He has won two Association of Black Securities and Investment Professionals (ABSIP) awards: Top Portfolio Manager in 2004 and Most Progressive Company in #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 63

66 SPEAKER BIOGRAPHIES Prior to founding One Stone, Musikavanhu founded Old Mutual Global Index Trackers (Pty.) Ltd., which is now reputedly the largest private-sector index tracking fund manager on the African continent. He has also worked for Old Mutual (UK), Robert Flemings (JP Morgan), the Bank of England, and Southern Asset Management. Musikavanhu serves as chief executive officer for One Stone and is chairman of One Stone Capital s board, trustee for the Musikavanhu Investment Trust, founder and investment committee member for the Inhlakanipho Education and Development Trust, and a member of the Justice Alliance of South Africa. He served as a member of the FTSE/JSE advisory board for several years during the transition of the Johannesburg Stock Exchange to the new globally recognized indices. BLAIR NICHOLAS Blair Nicholas, a senior and managing partner at Bernstein Litowitz Berger & Grossmann LLP (BLB&G), is widely recognized as one of the leading litigators and advisers to public pension funds in the country. For two decades, he has successfully represented pension plans and other major institutional investors in high-stakes securities and shareholder litigation, including securities class and individual actions, shareholder derivative actions, mergers and acquisitions related cases, and stockholder appraisal rights litigation. Nicholas has recovered billions of dollars for investors while achieving meaningful corporate governance reforms, and he continues to litigate many of the most high-profile cases in the field. Nicholas has extensive securities class action experience, litigating such well-known cases as In re Maxim Sec. Litig., which settled for $173 million the largest options backdating settlement in the Ninth Circuit Court of Appeals. As the head of BLB&G s direct action practice group, Nicholas has also successfully resolved direct actions on behalf of some of the largest pension plans, sovereign wealth funds, and other institutional investors in North America and Europe. 64 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

67 SPEAKER BIOGRAPHIES DANIEL NIELSEN Daniel P. Nielsen is a managing director at Great Lakes Advisors, overseeing the firm s sustainable and responsible investing initiatives. Nielsen works closely with the client services and portfolio management teams to promote investment solutions that align with clients values and performance goals and to identify sustainability-themed investment opportunities. Prior to joining the firm in 2015, Nielsen was the director of socially responsible investing at Christian Brothers Investment Services, where he developed and implemented investment screens, directed corporate engagement activities, and managed proxy voting. He has focused on sustainable and responsible investing since He previously worked at Wespath (part of the United Methodist Church), where he led shareholder advocacy work for the organization s $16 billion pension fund. Nielsen holds an MBA from the University of Chicago Booth School of Business and a BA in Chinese language and literature from the University of Maryland. He has served on the board of directors of US SIF The Forum for Sustainable and Responsible Investing, on the steering committee of the Sustainable Investment Research Analyst Network (SIRAN), and as chair of the board of directors for the Center for Economic Progress. He lives in Chicago with his wife and two daughters. JENNIFER O DELL Jennifer O Dell is the assistant director of the LiUNA! (Laborers International Union of North America) Corporate Affairs Department, where she focuses on securities regulation and corporate governance reform as it relates to LiUNA! benefit funds. O Dell has lectured LiUNA! benefit fund trustees on fiduciary duty and responsibility, capital stewardship and fund governance, and recent developments in securities regulation. Her particular area of interest is in assisting #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 65

68 SPEAKER BIOGRAPHIES LiUNA! benefit funds in writing and submitting shareholder proposals to listed corporations. Serving the labor movement for nearly 20 years, O Dell has worked for several other international and local unions, including the International Brotherhood of Teamsters as senior policy analyst; the United Steelworkers of America as campaign strategist; the Service Employees International Union Local 1199P, where she helped organize more than 2,000 nursing home workers; and the United Auto Workers, where she was a law clerk in the union s legal department. O Dell is a graduate of the University of Toledo College of Law in Toledo, Ohio. She graduated with honors from Saint Mary s College of Notre Dame in South Bend, Indiana. She is a member of the board of directors of the Council of Institutional Investors. In her spare time, you can find her at Nationals Park supporting her favorite baseball team, the Washington Nationals. PETER PALANDJIAN Peter Palandjian, chairman and chief executive officer of Intercontinental Real Estate Corporation, oversees the affiliated Intercontinental operating companies, with primary responsibility for strategic planning and direction of all company activities. Palandjian is also a member of Intercontinental s investment and executive committees. Prior to joining Intercontinental in 1993, Palandjian worked as the assistant to the CEO of Staples, Inc., and as an associate consultant with Bain & Company. Palandjian holds memberships with the Pension Real Estate Association (PREA) and the National Association of Real Estate Investment Managers (NAREIM). Palandjian has also been active on a number of corporate and not-for-profit boards. He has served as a board member of several institutions, including the Boston Symphony Orchestra (co-chair), the Boys & Girls Clubs of Boston, the Dana Farber Cancer Institute, the International Tennis Hall of Fame, American Friends of the Yitzhak Rabin Center, the New England Chapter of the National Association of Industrial and Office Properties, O Neill and Associates, Leader Bank, the Town of Belmont (Mass.) Board of Retirement, and the Taubman 66 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

69 SPEAKER BIOGRAPHIES Center for State and Local Government at Harvard s John F. Kennedy School of Government. Palandjian works on behalf of Harvard University as a volunteer undergraduate admissions interviewer. He was a two-time Harvard captain and world-ranked tennis player on the ATP World Tour. He earned his BA from Harvard University and his MBA from the Harvard Business School. JENNIFER PEDIGO Jennifer Pedigo is managing director and head of asset management and institutional business development, Americas, for TIAA Global Asset Management. She oversees the investor relations and business development teams responsible for building partnerships with institutional investors, specializing in private-market investments. Pedigo joined TIAA in 2014 and has 30 years of experience in institutional business development, relationship management, consultant relations, and investment management. She is a member of the TIAA Senior Leadership Team and is the organization s Midwest Chapter lead for the Military Veterans Employee Resource Group. Prior to joining TIAA, she was head of institutional business development at BMO Global Asset Management. Prior to BMO, she was director of sales and client service at Chicago Equity Partners. Before that, Pedigo was managing director of institutional marketing and client service, and held multiple investment management roles in the commercial real estate group and with the chief investment officer at Principal Financial Group. Pedigo holds a bachelor of business administration in finance and a master s in business administration from the University of Iowa. She is a registered representative with FINRA and holds Series 7, 24, and 66 registrations, as well as an Illinois life insurance license and the Chartered Financial Analyst designation. Pedigo is also active in the financial industry as well as in national and state pension organizations. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 67

70 SPEAKER BIOGRAPHIES KAI PETERSEN Kai Petersen is a principal within the Planning and Risk Management Group of Buck Consultants, LLC, where he leads the Asset Liability Management Group in the United States. He has consulted on retirement actuarial, design, investment, and risk management issues for more than 30 years. Petersen is a Fellow of the Society of Actuaries, an enrolled actuary under ERISA, a member of the American Academy of Actuaries, a Fellow of the Conference of Consulting Actuaries, and a charterholder with the CFA Institute. He earned his bachelor s degree in mathematics from St. Olaf College, graduating with honors. MARY SHARON REILLY After 38 rewarding years in Chicago Public Schools as an elementary school classroom teacher and counselor, Mary Sharon Reilly retired from active service but never from serving. Reilly was elected to the board of trustees of the Chicago Teachers Pension Fund (CTPF) as a teacher-trustee in 1991 and served four terms. She also served as the president of the board of trustees from 1993 to After her retirement as a teacher and counselor, she was again elected to the board as a pensioner-trustee for five additional terms, and continues to serve today in that capacity. As a board member, she has served on the Personnel Committee (chair), Health Insurance Committee, Return to Work Committee, Investment Committee, and Disability Committee. In addition to her service with the fund, Reilly is a director of the Retired Teachers Association of Chicago (RTAC), retiree functional vicepresident and retiree delegate for the Chicago Teachers Union, and a member of the National Association of Public Employee Retirement Systems (NCPERS) National Committee ( ). She served as chairperson of the Pension and Insurance Committee and a school delegate 68 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

71 SPEAKER BIOGRAPHIES for the Chicago Teachers Union prior to her retirement. Reilly holds a master of education degree from Loyola University, and an undergraduate degree in English from Mundelein College. Reilly serves as a board member and vice-president of the Mundelein College Alumnae Association. ANTHONY RODA Anthony Roda is a partner in the Washington, DC, law and lobbying firm Williams & Jensen, PLLC. He has been actively involved in public policy, law, and politics his entire professional career. He began his professional service in government as a research assistant in the British House of Commons and then worked for 10 years on Capitol Hill as a legislative staff person in the US Congress, where he handled federal tax policy issues on a day-to-day basis. Since joining Williams & Jensen in 1992, Roda has managed projects that have resulted in amendments to federal statutory law, including the Internal Revenue Code, and specific regulatory relief. Roda has helped numerous clients on projects involving federal tax legislation and regulation, including work in the state and local governmental pension area on behalf of NCPERS and individual plans in California, Ohio, Tennessee, and Texas. He is a member of the National Association of Public Pension Attorneys and has spoken frequently at national conferences on topics relating to federal legislative and regulatory matters affecting public pension plans. He has also authored numerous articles on matters affecting state and local governmental plans. Roda earned his bachelor of arts degree in government and politics from the University of Maryland, his juris doctor degree from Catholic University Law School, and a master s in tax law from the Georgetown University Law Center. He is a member of the District of Columbia, Virginia, and US Supreme Court bars. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 69

72 SPEAKER BIOGRAPHIES BRIAN SAPADIN Brian Sapadin is a member of GlobeTax s Business Development Team and manages the firm s hedge fund practice. Sapadin provides strategic consultation to both domestic and offshore funds seeking to identify and recover overwithheld investment income on cross-border investments. He also maintains strong relationships with the prime brokerage and hedge fund services community in support of the business development effort and client reclaim process. Prior to joining GlobeTax, Sapadin held senior business development and market intelligence roles with global investor relations, financial communications, and technology firms. Previously, he served as an analyst and trader on Citi s corporate loan syndications desk, where he helped launch a liquid market for secondary loan trading. MAYA SAXENA Maya Saxena, co-founder of Saxena White P.A., has been practicing exclusively in the securities litigation area for more than 18 years, representing institutional investors in shareholder actions involving breaches of fiduciary duty and violations of the federal securities laws. She is a frequent speaker at educational forums involving public pension funds and advises public and multiemployer pension funds on how to address fraud-related investment losses. She has handled major securities cases and complex litigation nationwide, resulting in the return of hundreds of millions of dollars to injured shareholders. Prior to forming Saxena White, she served as the managing partner of the Florida office of one of the nation s largest securities litigation firms, successfully directing numerous high-profile securities cases. Saxena gained valuable trial experience before entering private practice while employed as an assistant attorney general in Ft. 70 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

73 SPEAKER BIOGRAPHIES Lauderdale, Florida. During her time as an assistant attorney general, she represented the State of Florida in civil cases at the appellate and trial level and prepared amicus curiae briefs in support of state policies at issue in state and federal courts. Saxena graduated from Syracuse University summa cum laude in 1993 with a dual degree in policy studies and economics, and from Pepperdine University School of Law in She is a member of the Florida Bar and is admitted to practice before the US District Courts for the Southern, Northern, and Middle districts of Florida, as well as the Fifth and Eleventh Circuit Courts of Appeal. Saxena was recently recognized in the South Florida Business Journal s Best of the Bar as one of the top lawyers in South Florida and has been recognized as a Super Lawyer six years in a row. She was also recently selected by her peers for inclusion in The Best Lawyers in America in the field of commercial litigation. STEPHEN SEXAUER Stephen Sexauer is San Diego County Employees Retirement Association s (SDCERA s) chief investment officer and oversees SDCERA s investment strategy for the fund s public and private investments, investment team, and investment consultants. In addition to the day-to-day operation of SDCERA s Investment Division, he also assists SDCERA s board with determining the fund s investment policies, strategy, and asset allocation. Prior to joining SDCERA in 2015, Sexauer worked at Allianz Global Investors as chief investment officer, multi asset, of Allianz Global Investors Solutions, managing over $7 billion in multi-asset institutional portfolios and retirement income solutions. He is also the co-author of papers on retirement portfolios published in The Financial Analysts Journal, The Institutional Investor Journal of Retirement, and The Retirement Management Journal. Sexauer graduated from the University of Illinois with a BS in economics and from the University of Chicago with an MBA in economics and finance. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 71

74 SPEAKER BIOGRAPHIES TROY SIMMONS Troy Simmons joined Nationwide Retirement Institute in June 2011 with more than 20 years of financial industry experience. As a vice president for the Retirement Institute, Simmons is dedicated to educating advisers, clients, plan sponsors, and plan participants about the latest in retirement income planning trends. Simmons stimulates the thinking and actions of professionals as they navigate the changing world of retirement. He annually addresses thousands of financial professionals, clients, and plan participants, and his sessions are customized to meet the needs of each group. Prior to working at Nationwide, Simmons worked as a regional vice president for American General / AIG in its broker general agent channel. He also spent more than nine years at Allstate Financial, where he was most recently a senior vice president and divisional manager. Simmons is a graduate of Western Michigan University, where he majored in business administration. He also completed the Harvard of Business School s Summer Venture in Management program. He is FINRA Series 7, 63, and 26 licensed. His areas of expertise include Social Security, Medicare, long-term care, and retirement income planning. Simmons resides outside of Phoenix, Arizona, where you may find him golfing or playing poker. He also volunteers for the Nationwide United Way Campaign and is an advocate for the Crusade for Cures Foundation. GREGORY W. SMITH Gregory W. Smith is the executive director of Colorado Public Employees Retirement Association (PERA). Colorado PERA has more than $44 billion in defined-benefit plan assets and more than $3.5 billion in defined-contribution assets. Established by the Colorado General Assembly in 1931, Colorado 72 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

75 SPEAKER BIOGRAPHIES PERA administers a defined-benefit pension plan as well as disability and survivor benefits and other voluntary programs, including defined-contribution plans, health care, and life insurance, for more than 500,000 current and retired Colorado public employees. Smith joined Colorado PERA in February 2002 as general counsel, and in July 2009 was promoted to the additional role of chief operating officer. In April 2012, the PERA board of trustees named Smith interim executive director, and in November 2012, he became executive director. Smith currently serves as chair of the National Institute on Retirement Security board and on the board of directors for the Council of Institutional Investors. As a recognized leader in the pension arena, Smith has presented and moderated on matters related to pension funds for the Fiduciary College at Stanford Law School, the National Council on Teacher Retirement, the Government Finance Officers Association, and the US Treasury Department. Prior to joining Colorado PERA, Smith was a litigation partner at Hamilton & Faatz, P.C., and held first-chair responsibilities in many trials in both the state and federal courts. Smith holds a bachelor s degree in business administration from the University of Colorado and a juris doctor degree from the University of Denver. JAMES SPELLOS James Spellos is the president of Meeting U., a company specializing in helping people become more productive and comfortable with technology, and a certified Microsoft Office Specialist. He delivers more than 150 seminars annually on how to use technology more efficiently, including using tablets, smartphones, and social media. Spellos is an adjunct faculty member at New York University, teaching in the School of Professional and Continuing Studies since He was been honored with both its Award for Teaching Excellence and its Outstanding Service Award. In 2014, Spellos joined the board of directors for Rock and Wrap It Up!, an antipoverty, antihunger think tank that supports more than 43,000 agencies in North America. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 73

76 SPEAKER BIOGRAPHIES Spellos co-created the organization s Whole Earth Calculator app, which helps it identify the quantity of food donated and the size of the carbon footprint reduced by the organization s help in recovering excess food. Spellos is also an accomplished musician and songwriter, playing guitar and keyboards, and singing for the New York City rock band Contraband. The group released its first CD, Welcome to the Neighborhood, in late 2008 and is currently in the recording studio working on its next project. LESLIE THOMPSON Leslie Thompson is a senior consultant in Gabriel, Roeder, Smith & Company s Denver office. She is one of the leading public-sector actuaries in the country and serves as the lead actuary for several statewide and municipal retirement systems and other postemployment benefits (OPEB) plans. Thompson has more than 35 years of actuarial and benefits consulting experience, including 25 years in the public sector. She also heads GRS s OPEB committee, overseeing technical and strategic issues regarding retiree health benefits. Thompson works with clients that range in size from smaller municipalities to very large statewide systems. She has served clients in Alaska, California, Colorado, Illinois, Minnesota, Missouri, New Mexico, Oklahoma, and Utah. Thompson has served as a speaker for numerous public-sector industry associations such as the Government Finance Officers Association, NCPERS, the National Public Employer Labor Relations Association, the National Council on Teacher Retirement, and the International Foundation of Employee Benefit Plans (as Emerging Issues Certificate of Achievement in Public Plan Policy instructor). She has also provided client education on topics such as strategies for managing retiree medical plans (funding, liabilities, and plan design), service purchase considerations, and issues related to optional forms of benefit payments. Thompson holds a bachelor of science in mathematics from the University of Oregon. 74 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

77 SPEAKER BIOGRAPHIES PAMELA TIKELLIS Pamela Tikellis is a co-founder of Chimicles & Tikellis LLP. She earned a JD degree from Widener University School of Law, where she served as managing editor of the Delaware Journal of Corporate Law. Upon graduating from law school, Tikellis served as a law clerk in the nationally recognized Court of Chancery in Wilmington, Delaware. Tikellis served on the Board of Bar Examiners of the Supreme Court of Delaware for more than a decade, and was chair from 2010 to In addition, she is the past chair of the Delaware Bar Association Ethics Committee and continues to serve as a director and officer of the Historical Society of the Court of Chancery. Tikellis represents investors in class and derivative cases, primarily in the Delaware Court of Chancery. Recently, she served as co lead counsel in In re Freeport- McMoran Copper & Gold, Inc., C.A. No VN. After more than a year of hard-fought litigation, the case settled for nearly $154 million, and this derivative settlement is the first to ensure that the benefit flowed to the stockholders in the form of a cash dividend. Currently, Tikellis serves as co lead counsel in In re Sanchez Energy Derivative Litig., C.A. No VCG, lead counsel in Park Employees & Ret. Bd. Employees v. BioScrip, Inc. et al., C.A. No VCG, and lead counsel in Chester Cnty. Ret. v. Blount Int l, Inc., et. al., C.A. No VCL. Tikellis is a frequent lecturer on issues of Delaware corporate law, ethics, and Court of Chancery procedures in various forums. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 75

78 SPEAKER BIOGRAPHIES DAVID A. VAUDT David A. Vaudt was named chairman of the Governmental Accounting Standards Board effective July 1, Vaudt came to GASB after serving the previous 10 years as Iowa s elected state auditor. Prior to his election, Vaudt worked for 25 years in the Des Moines, Iowa, office of KPMG LLP, including 13 years as an audit partner. Vaudt has served as president of the National State Auditors Association, chair of the National Association of State Boards of Accountancy, and chair of the Iowa Accountancy Examining Board. He also served on the boards of numerous nonprofit service organizations in Iowa. Vaudt, a graduate of Upper Iowa University, is a certified public accountant. CHET WALDMAN Chet B. Waldman was born in the Bronx, New York, on June 3, He is a graduate of Cornell University (AB, 1982) and Boston University School of Law (JD, 1985), where he was a G. Joseph Tauro Scholar, a Paul J. Liacos Scholar, and a member of the American Journal of Law and Medicine. He was admitted to the bar in 1986 for the State of New York in 1988 for the US District Court, Southern and Eastern Districts of New York, the US Court of Appeals; and in 2013 for (First Circuit). Following law school, he joined the New York office of Weil, Gotshal & Manges, where he was predominantly involved in antitrust litigation. Since 1988, Waldman has been at Wolf Popper LLP, where he has concentrated on federal and state securities class actions and derivative litigation. He has extensive experience in litigating cases on behalf of pension funds (primarily securities and merger and acquisition cases) and has been a member of the Securities Litigation Committee and the Mergers & Acquisition Committee of the New York City Bar Association. Waldman became 76 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

79 SPEAKER BIOGRAPHIES a partner of Wolf Popper as of January 1, 1995, and a member of the firm s executive committee as of January 1, Waldman has been involved in litigating numerous multidistrict and consolidated actions, including some of the more prominent cases in which Wolf Popper has been involved. LAVERNE WINGFIELD Laverne Wingfield is a seasoned insurance claims professional with more than two decades of experience managing and adjusting a wide range of exposures. Throughout her career, she has handled professional liability, general liability, and personal lines claims and has served in a range of capacities, from general adjuster to regional team leader. Since joining Ullico Casualty Group, Inc., in 2004, Wingfield has worked on all aspects of claims adjudication and risk management for both the fiduciary and union liability lines. She has handled a multitude of high-exposure litigated and nonlitigated claims, and has provided coverage responses, negotiation services, and complex exposure analysis recommendations for management. All of these tasks have been instrumental in maintaining the low and profitable loss ratios of these core affinity lines. Before her tenure at Ullico, Wingfield worked at The Hartford, Travelers, and Fireman s Fund. While with Fireman s Fund, she served as a regional corporate trainer, helping other claims professionals maintain and acquire the knowledge required for their careers. Wingfield is a member of the Professional Liability Underwriting Society and holds adjuster licenses in more than 30 states. She graduated from the University of Maryland, College Park, with a bachelor of arts in hearing and speech sciences and earned a master of arts in legal and ethical studies from the University of Baltimore. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 77

80 SPEAKER BIOGRAPHIES ROBERT WYLIE Rob Wylie has been the executive director/administrator of the South Dakota Retirement System (SDRS) since 2003 and has worked at SDRS for more than 30 years. SDRS currently has more than 80,000 members and over $10 billion in assets. SDRS is one of the most well-funded public employee retirement systems in the nation and is recognized for efficient operations and innovative plan designs. In addition to his duties as SDRS executive director, Wylie serves as an ex officio member of the South Dakota Investment Council, which oversees the investment of all South Dakota trust assets. Wylie is active in several national public pension organizations, including the National Association of State Retirement Administrators (NASRA) and the National Council on Teacher Retirement (NCTR). He is currently the president-elect of NASRA and a member of the executive committee. Wylie serves on the NCTR legislative committee and is a former NCTR committee chair. Wylie is a member of the Governmental Accounting Standards Advisory Council, served as South Dakota s delegate to the 2006 National Summit on Retirement Savings, and is a former member of the Government Finance Officers Association Committee on Retirement Benefits and Administration. Wylie holds a bachelor s degree in economics from South Dakota State University and an MBA from the University of South Dakota. He is a lifelong South Dakota citizen. He and his wife, Sara, have two adult daughters and one grandchild. 78 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

81 RICHARD YASENCHAK SPEAKER BIOGRAPHIES Richard Yasenchak serves as a proxy for the portfolio management team for sales presentations, client reviews, and other campaigns by communicating INTECH s investment process and strategies. He works closely with the investment, client relations, and consultant relations teams, facilitating on-site client meetings; attending off-site client meetings as a representative of the investment team; and providing in-depth, sophisticated insights into INTECH s strategies, performance attribution, and trends. Prior to joining INTECH in January 2014, most recently Yasenchak spent almost nine years at Russell Investments, where he served as a portfolio manager of $5 billion in US equity defensive funds, quantitative funds, midcap funds, separate accounts, and beta strategies for institutions and individuals. Yasenchak earned his master of science in financial analysis from the College for Financial Planning in Centennial, Colorado. He holds a certificate in personal financial planning, financial planning, and services from Metropolitan State College of Denver and has met the Certified Financial Planner Board s certification standards to become a CFP professional. Yasenchak received a bachelor of science degree in business administration from the University of Colorado at Boulder. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 79

82 NOTES 80 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

83 NOTES

84 NCPERS LEADERSHIP NCPERS OFFICERS. Mel Aaronson, President. Daniel A. Fortuna, First Vice President. Kathy Harrell, Second Vice President. Tina Fazendine, Secretary. Richard Wachsman, Treasurer. Pat McElligott, Immediate Past President NCPERS EXECUTIVE BOARD MEMBERS. Stacy Birdwell. Peter C. Carozza, Jr.. Dale Robert Chase. Kelly L. Fox. Dan Givens. Aaron Hanson. Kenneth A. Hauser. Sharon Hendricks. Emmit A. Kane. Bill Lundy. Robert McCarthy. Rick Miller. John R. Niemiec. Will Pryor. Patricia Reilly. Carol G. Stukes-Baylor ADVISORS TO THE NCPERS EXECUTIVE BOARD. Jack Gastler Acadian Asset Management. John McLaughlin William Blair & Company. Douglas W. Moseley NEPC, LLC. William Norris Permal Group. Andrew Pataky Mesirow Financial. Richard G. Protasewich State Street Corporation. Lawrence Schloss. Kelly Weller Great Lakes Advisors. Hank H. Kim Executive Director and Counsel. Cassandra Smoot Senior Director of Operations NCPERS STAFF. Amanda Rok Manager of Communications and Social Media. Alyssa Carlson Membership & Conference Coordinator 82 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

85 NATIONAL COMMITTEE ALABAMA Steven Williams Ben Powell ARKANSAS John Neal Bill Lundy CALIFORNIA Ken Buzzell Tony Gamboa CANADA Rick Miller Ian MacEachern COLORADO Pamela Feely Victoria Hale CONNECTICUT Peter Carozza Vincent Fusco DISTRICT OF COLUMBIA Mike Mullane William Taylor FLORIDA Thomas Gabriel Alejandro Fernandez HAWAII Emmit Kane Kanoe Margol ILLINOIS Mary Sharon Reilly Brian Wright LOUISIANA Stacy Birdwell Martin Gaal MARYLAND Dale Chase Glen Middleton MASSACHUSETTS Chet Riley John Brown MICHIGAN Charles Bonza Tina Turner MISSOURI Charlie Hull Thomas Stoff NEBRASKA Aaron Hanson Mike Henrich NEW HAMPSHIRE David Lang NEW MEXICO Patricia French Paula Fisher NEW YORK Joseph D Amico James Lemonda OHIO Kathy Harrell OKLAHOMA Tina Fazendine Gerald Garrett PENNSYLVANIA Veronica Pankey Carol Stukes-Baylor TENNESSEE Danny Todd Craig Joel TEXAS John Mays Heidle Baskin UTAH David Banner Marty Peterson VERMONT Jeff Briggs VIRGINIA John Niemiec Thomas Simcoe WASHINGTON Steve Nelsen Greg Markley WISCONSIN Carmelo Patti #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 83

86 EXECUTIVE BOARD BIOGRAPHIES MEL AARONSON, PRESIDENT Melvyn Aaronson, president of NCPERS, is also treasurer of the United Federation of Teachers (UFT), Local 2, American Federation of Teachers (AFT). The UFT is the largest labor union local in the United States. Aaronson was a trustee and member of the board of the Teachers Retirement System of the City of New York from 1980 to 2015 and served as chairman of the board from 2011 to He has served for more than 40 years as a pension consultant for UFT. He chairs the pension committee of the New York City Municipal Labor Committee (the umbrella group of New York City s public employee unions). In 1981, Aaronson was a delegate to the New York State and White House conferences on aging. In 1995, he again served as a delegate to the New York State conference on aging and an alternate delegate to the White House Conference. In 1998, he served as a delegate to the White House Conference on Social Security, and in 2002 he was a delegate to the National Summit on Retirement Savings. Aaronson is chair of the NCPERS advisers, credentials, and executive and legislative committees and a member of the bylaws and resolutions committee. He is also an NCPERS representative to the Public Pension Coordination Council as well as the National Institute on Retirement Security (NIRS). STACY BIRDWELL Stacy Birdwell, a trustee and vice-chairman for Louisiana s statewide Firefighters Retirement System, serves as chairman of the system s investment committee, which oversees the billion-plus dollars in assets of the system. Birdwell also chairs the personnel committee for the system. He is a retired captain and 33-year veteran of the Shreveport 84 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

87 EXECUTIVE BOARD BIOGRAPHIES Fire Department. He is vice president of Shreveport Fire Fighters Association Local 514, having served in every elected position in the more than 28 years he has held office in his local union. Birdwell is secretary-treasurer of the Professional Fire Fighters Association of Louisiana and past secretarytreasurer and trustee of the Southern Federation of Professional Fire Fighters. As a registered state lobbyist, he has spent more than two decades promoting firefighter interests in Louisiana. For more than 25 years, he has been the administrator of the Shreveport Fire Fighters Benevolent Fund. He is also a trustee for the Fire Fighter Cancer Foundation. Birdwell is a member of the NCPERS executive board, where he serves as chair of the audit committee, and is a member of the by-laws, policy and resolutions, insurance, and investment committees. PETER S. CAROZZA, JR. Peter Carozza is a 33-year veteran of the Waterbury (Connecticut) Fire Department and currently serves as president of the Uniformed Professional Fire Fighters Association of Connecticut, representing 60 local affiliates and 4,000 career firefighters in Connecticut. He has extensive experience in labor relations and lobbying for firefighters on the local, state, and national levels. He serves on several national committees of the International Association of Fire Fighters (IAFF) and received the organization s 2010 Local Leadership Award. He currently serves as chairman of the Federation of State and Provincial Fire Fighters, IAFF, which is composed of the leadership of each state and provincial association in the United States and Canada. Carozza currently serves as chairman of the State of Connecticut Commission on Fire Prevention and Control, originally appointed by Governor William O Neill and reappointed by Governors John Rowland, Jodi Rell, and Dannel Malloy. He serves as firefighter chairman of the Muscular Dystrophy Association of Connecticut and vice president of the Connecticut state AFL-CIO, from which he received a Public Sector Leadership Award for his tireless efforts #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 85

88 EXECUTIVE BOARD BIOGRAPHIES and passionate commitment to Connecticut s workers. In 2010 he was elected to the board of directors of The Hundred Club of Connecticut, and in 2011 he was inducted into the Connecticut State Fire Fighters Hall of Fame for his work on firefighter issues on the local, state, and national levels. He has served on the senior steering committees of many political campaigns on the state and national levels, the governor s Public Safety Committee, the governor s Two Storm Panel, the Anthem Blue Cross & Blue Shield advisory board, and the University of Connecticut Labor Education Center advisory board. In 2012 he was elected to the NCPERS executive board, where he serves on the audit, budget, education, and marketing and membership committees. DALE ROBERT CHASE Dale Chase started his public service career in Howard County, Maryland, as a master electrician in Since 1994 Chase has served as the president of AFSCME Local 3085, Howard County Maryland Public Service Employees. Chase is currently the statewide president of AFSCME Council 67, representing well over 30,000 members in 21 separate political jurisdictions, including Baltimore city, throughout the state of Maryland. He serves as a trustee on the Howard County Retirement Board, which is responsible for administering more than $770 million in the employees defined-benefit pension plan. Chase serves on the AFSCME International Pension Advisory Board and is a strong advocate of corporate governance activism. He has more than 25 years of experience in contract law, arbitration, and fiduciary responsibility for employee pension benefit plans. He also serves as a healthcare consultant for 49 public employee labor unions on healthcare plan design and cost-containment measures. Chase is gaining national prominence for his unique approach and management style in negotiating labor agreements for public service, supervisory, and law enforcement employees. He was the labor representative appointed to serve on the Howard County GASB 45 Task 86 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

89 EXECUTIVE BOARD BIOGRAPHIES Force. Chase is completely committed to his belief that public employees should continue to earn their deserved pensions for the dedicated service they provide to the citizens on a daily basis. Chase was elected to the NCPERS executive board in 2012, serves as the chair of the healthcare committee, and is a member of the insurance, legislative, and publication and research committees. TINA FAZENDINE, SECRETARY Tina Fazendine, NCPERS secretary, was the insurance and retirement services manager for the City of Tulsa. She has more than 30 years of service as a Tulsa public employee; she spent 21 of those years concentrating on benefits management. In addition to managing the Municipal Employees Retirement Plan, she administered the city s deferred-compensation and insurance programs. Her responsibilities and experience include policy development; vendor negotiations and contract language development; cost-benefit analysis; and implementation and communication of retirement and insurance plan improvements, procedures, and computer enhancement developments. Fazendine has considerable knowledge and experience in the methods, practices, and techniques used to administer and manage comprehensive retirement and insurance programs. She regularly speaks at local college and public pension fund seminars. Notable achievements include the development and implementation of a partial lump-sum distribution option for municipal employees and the city s first comprehensive retirement statement. She is a member of the Tulsa Employee Benefits Group; the NCPERS executive board, where she serves as a member of the advisers, budget, credentials, executive, education, and healthcare committees; and the NCPERS Task Force on Health Care Benefits. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 87

90 EXECUTIVE BOARD BIOGRAPHIES DANIEL FORTUNA, FIRST VICE PRESIDENT Daniel Fortuna, NCPERS first vice president, is an elected trustee for the retirement board of the Firemen s Annuity and Benefit Fund of Chicago. In addition, he is the current First District vice president of the Associated Firefighters of Illinois and has served in this capacity since During his 30 years of service with the Chicago Fire Department, he served three terms on the Chicago Fire Fighters Union Local 2 executive board, resulting in two decades of union leadership. He continues to serve the Chicago Fire Fighters Union as senior member and co-chair of the legislative/political action committee, in conjunction with the Associated Firefighters of Illinois, dealing with union legislation, pensions, and benefits issues in the state capital of Illinois. He currently serves as chair of the marketing and membership committee and is a member of the advisers, bylaws, policy and resolutions, credentials, executive, and legislative committees of NCPERS. Most recently, Fortuna has once again been appointed by the governor of Illinois to the Fire Fighting Medal of Honor Committee and the Illinois Firefighter Memorial Foundation. KELLY L. FOX Kelly L. Fox was elected in February 2016 to the executive board of the International Association of Fire Fighters, representing the states of Washington, Idaho, Montana, and Alaska. Prior to that election, he served the Washington State Council of Fire Fighters (WSCFF) as president since 1996 and was a member of its executive board since He is a registered lobbyist in Washington state and chairs the Law Enforcement Officers and Fire Fighters Plan 2 Retirement Board. He was appointed to the Washington State Investment Board by Governor Jay Inslee in 2013 and currently serves as vice- 88 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

91 EXECUTIVE BOARD BIOGRAPHIES chair. Fox has worked with numerous public employee representatives to promote stable contribution rates and pension enhancement legislation and to facilitate greater plan member representation and participation. As an active member of the Olympia Fire Department, Fox serves his community as a fire lieutenant and continues to represent the local union in collective bargaining and labor-management relations. He is a member of the NCPERS executive board, where he serves as a member of the budget, education, and legislative committees and chair of the publications and research committee. DAN GIVENS Dan Givens is a retired fire captain and paramedic with the City of Miami Fire Department, having served with this department from 1973 to He comes from a family of Miami firefighters; his father and father-in-law retired from the City of Miami Fire Department. Givens s son is also a City of Miami firefighter. All are International Association of Fire Fighters (IAFF) Local 587 members. Givens served as an elected trustee and chairman of the Miami Fire Fighters Relief & Pension Fund from 1980 to In 2006, he took over as administrator for this fund. He continues to serve with the IAFF and the Florida Professional Firefighters, dealing with pension matters including legislative changes to Florida public pension law and federal tax law changes. He is a member of the Florida Public Pension Trustees Association and has completed the Certified Public Pension Trustee program. Givens was a trustee during the creation of the Miami Association of Firefighters Retiree Health Trust. He also serves as regional representative for the IAFF Financial Corporation. Givens is an executive board member of NCPERS, fire classification. He serves with the NCPERS executive board and is a member of the NCPERS education, healthcare care, investment and bylaws, and policy and resolutions committees. In 2002, NCPERS created a healthcare task force to study the devastating impact on retirement and to propose solutions. Givens serves as chairman of the healthcare committee. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 89

92 EXECUTIVE BOARD BIOGRAPHIES AARON HANSON Aaron Hanson has been employed as a peace officer with the Omaha Police Department (Nebraska) since He served in the Canine Squad from 2000 until In 2014, Hanson was promoted to the rank of sergeant. He currently is assigned to the Special Operations Section, supervising the North Gang Suppression Squad. Hanson served as president of the Omaha Police Officers Association from 2005 to During Hanson s tenure, an agreement was secured that reformed the pension plan, eliminated the highly politically charged practice of pension spiking, and increased the employer s contribution with a long-term goal of eliminating the 40 percent funded pension plan s nearly $600 million shortfall. A 2015 actuarial report determined that the reform had eliminated the previous actuarial contribution rate deficit of 28 percent of payroll. Today, the full actuarial contribution rate is being paid, putting the plan on track for fully funded status in 22 years. In 2011, Hanson was elected to the Omaha Police and Fire Retirement System as a trustee. Hanson also serves as an executive board member of NCPERS and is assigned to the legislative and marketing and membership committees, and is chair of the communications committee. KATHY HARRELL, SECOND VICE PRESIDENT Kathy Harrell is second vice president of NCPERS. Since 1987 Harrell has been a member of the Cincinnati Police Department, where she has served as a community beat cop on the west side of Cincinnati and as an undercover drug and major crime investigator. She served on the Ohio Police and Fire Pension Fund board of trustees from October 2006 through June She is also currently serving as National 90 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

93 EXECUTIVE BOARD BIOGRAPHIES Fraternal Order of Police (FOP) pension chairman. Harrell has experience representing and working for police officers through her position as union president of the FOP Queen City Lodge No. 69 from December 2005 through December 2015; she is the first woman to hold that position. Prior to joining the Cincinnati Police Department, Harrell served for four years as a military police officer in the US Army Reserve. Born and raised in Cincinnati, Harrell graduated from Our Lady of Angels High School in St. Bernard, Ohio, and attended the University of Cincinnati. She is a member of the NCPERS executive board, where she is chair of the bylaws, policy, and resolutions committee and member of the advisers, credentials, executive, and insurance committees. KENNETH A. HAUSER Kenneth Hauser, trustee and chairman of the board of the Chicago Police Pension Fund, is a retired Chicago police detective who served for 37 years and retired from the major accident investigation section. He is a trustee of the Fraternal Order of Police and has been elected to numerous terms as trustee of the state and city lodges. Hauser was also on the team that negotiated the first four contracts for Chicago police officers in the 1980s. He is an elected trustee on the board of the Chicago Patrolmen s Federal Credit Union and president of the Chicago Police Pension Fund, having been first elected as a trustee in He was also elected president of the Retired Chicago Police Association and is a member of numerous other police organizations. In addition, he is a former member of the advisory board of the S&P Dow Jones Indices. Hauser is a member of the NCPERS executive board, where he chairs the investment committee and is a member of the budget, healthcare, and legislative committees. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 91

94 EXECUTIVE BOARD BIOGRAPHIES SHARON HENDRICKS Sharon Hendricks is a communication studies instructor at Los Angeles City College. She was elected in 2011 to the California State Teachers Retirement System (CalSTRS) board, where she serves as vicechair of the board and chair of the investment committee. Hendricks serves faculty at Los Angeles City College as president of the American Federation of Teachers (AFT) Local 1521 chapter. In addition, she tackles retirement questions and concerns as the retirement liaison for the Los Angeles College Faculty Guild. She is active in the Community College Council of the California Federation of Teachers and serves on the working group for the Trustee Leadership Forum for Retirement Security and the AFT Trustee Council. She is also treasurer for the Los Angeles Trustee Network. Hendricks was elected to the NCPERS executive board in 2012 and serves on the education, healthcare, legislative, and publications and research committees. EMMIT A. KANE Emmit A. Kane is vice chair and trustee of the Employees Retirement System of the State of Hawaii, and is currently one of eight trustees responsible for the benefits of more than 118,000 participants and beneficiaries, and its multibillion-dollar investment portfolio. In addition, Kane chairs the retirement system s investment committee and serves on the compensation and audit committees. Kane joined the Honolulu Fire Department in 1986, was promoted through its ranks, and retired as deputy fire chief. Kane served as secretary-treasurer of the Hawaii Fire Fighters Association, where he was one of the principals charged with negotiating statewide contracts for nearly 1,800 active fire fighters. 92 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

95 EXECUTIVE BOARD BIOGRAPHIES Kane is currently the director of labor relations at Hawaiian Telcom, where he oversees and directs all labor employee relations matters and activities, focusing on adherence to the collective bargaining agreement, employee welfare, health care, pensions, unionmanagement practices, and dispute resolution. Kane is a member of the NCPERS executive board, where he serves on the education, legislative, and marketing and membership committees. BILL LUNDY Bill Lundy is a member of the Arkansas Fire and Police Pension Review Board, where he has served for more than 25 years. He joined the Little Rock Fire Department in 1971 and retired after 35 years with the rank of captain. He represented the fire department on the city s health insurance task force and was the administrator of the Little Rock Fire Department Health Fund Inc., a hospitalization supplement. He is past president of IAFF Local 34 and is president emeritus of the Arkansas Professional Fire Fighters (APFF). As president of the local, he negotiated the first collective bargaining agreement entered into by an Arkansas municipality and any employee group. He has served for 27 years as a lobbyist for the APFF and has played a major role in obtaining many benefit enhancements for the firefighters and police officers of Arkansas. Lundy is a member of the NCPERS executive board, where he serves as a member of the education, insurance, and investment committees. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 93

96 EXECUTIVE BOARD BIOGRAPHIES ROBERT McCARTHY Robert B. McCarthy, a retired fire captain (2001) of the Watertown (Massachusetts) Fire Department, is a thirdgeneration firefighter and served proudly for 34 years. He was elected president of the Watertown Firefighters IAFF Local 1347 and served from 1981 to He served as chairman of the Watertown Contributory Retirement Board from 1980 to 1987 and as an executive board member of the Massachusetts Association of Contributory Retirement Systems from 1984 to McCarthy served in the US Navy (R) from 1964 to He served his active duty on the submarine USS Blenny (SS-324) from 1966 to In 1985, McCarthy was elected as a legislative agent of the Professional Fire Fighters of Massachusetts (PFFM). From 1987 to 2011 he served as the elected president of the PFFM, and he was honored with the title president emeritus, Professional Fire Fighters of Massachusetts, in He also served for 16 years as chairman of the Federation of State and Provincial Professional Fire Fighters (part of the International Association of Fire Fighters [IAFF]). He is the chief executive officer of Unity Solutions, Inc., a family corporation that provides union consulting, mediation, and counseling as well as lobbying and motivational presentations to a variety of corporations, educational institutions, and unions. Unity Solutions was incorporated in Massachusetts in Since 2009, McCarthy has served as commissioner of the Public Employee Retirement Administration Commission of the Commonwealth of Massachusetts. He currently serves as an appointed district field service representative of the IAFF. McCarthy is a certified notary public and a licensed registered lobbyist of the Commonwealth of Massachusetts. He received an associate s degree in fire science from Massachusetts Bay Community College in 1974 and a certificate of completion for his labor-related studies at the Harvard Business School Trade Union Program in McCarthy has served on numerous public and private boards and was appointed by Governor Michael Dukakis and Governor Paul Cellucci, respectively, to serve as a 94 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

97 EXECUTIVE BOARD BIOGRAPHIES trustee of the boards of Fitchburg State University ( ) and the University of Massachusetts ( ). McCarthy has been attending the NCPERS Annual Conference since 1981 and was elected to its executive board in May PAT McELLIGOTT, IMMEDIATE PAST PRESIDENT Pat McElligott, NCPERS immediate past president, its former president of the Tacoma Professional Fire Fighters Union, IAFF Local 31. He was a member of the Washington State Retirement Advisory Board and former chair of the Washington State Investment Board Private Markets Committee, which controls $80 billion in pension fund assets. He has more than 35 years of fire service experience and served 27 of those years with the Tacoma Fire Department. Since 1989 McElligott has served as Sixth District representative of the Washington State Council of Fire Fighters (WSCFF). In addition, he was a member of the WSCFF Standing Pension Committee and is a member of the NCPERS advisers, credentials, and executive committees. RICK MILLER Rick Miller is a retired district chief from the Windsor, Ontario, Fire and Rescue Services and was a member of the Windsor Professional Firefighters Association for 30 years. He was a member of the Ontario Professional Fire Fighters Association (OPFFA) Pension Committee for 20 years and served several years as chairman. He has also served on the board of directors of the Windsor City Centre Credit Union. He is the first elected member of the NCPERS executive board in 2012 serving under the Canadian classification, and he is a member of the #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 95

98 EXECUTIVE BOARD BIOGRAPHIES education, investment, and communications committees. Miller was chairman of the Ontario Municipal Employees Retirement System (OMERS) Administration Corporation s board of directors for 2012 and 2013 during his 16-year tenure on the board. OMERS is one of Canada s largest pension funds, managing more than $71 billion in net investment assets on behalf of more than 430,000 members. Miller was first appointed to the OMERS board in He also served as chair of the OMERS board in 2002 and chairman of its investment committee in 2004 and 2005, followed by three years as vice-chair. Miller was also a member of the governance, audit, pension, and health and safety committees. Miller serves on other corporate boards, such as in Alberta s oil and gas sector. He received his Chartered Director designation from the Directors College in 2004 and graduated from the Human Resources Executive Compensation program at The Directors College in Ottawa in JOHN R. NIEMIEC Captain John Niemiec is a professional firefighter and paramedic with the Fairfax County (Virginia) Fire and Rescue Department with 29 years of experience. He is currently serving as president of the Fairfax County Professional Fire Fighters & Paramedics International Association of Fire Fighters (IAFF) Local Local 2068 is a progressive union with approximately 1,900 active and retired members involved in all aspects of interest and concern to its membership. Prior to his election as president, he served as first vice president, a position that provides a supportive platform from which to address issues of health and safety for career firefighters, paramedics, and other public safety personnel. Much of Niemiec s recent work on behalf of Local 2068 has targeted the preservation and enhancement of the well-deserved and hard-won benefits of career firefighters. He has worked diligently with union members, fire and rescue personnel, and other county managers to achieve the reduction of the Social Security Disability Offset. To date, these efforts have reduced the offset 96 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

99 EXECUTIVE BOARD BIOGRAPHIES from 64 percent to 15 percent; the goal is to eliminate it altogether. Additionally, Niemiec was instrumental in safeguarding the deferred retirement option plan (DROP) for all county employees. Niemiec continues to serve as a trustee on the Fairfax County Uniformed Retirement System board. One key element of this position is working with other board officers to oversee and protect a fund that exceeds $1 billion in assets. Niemiec is a member of the NCPERS executive board, where he serves as a member of the investment, legislative, and marketing and membership committees. WILL PRYOR Will Pryor is an active Los Angeles County captain working on a hazardous materials task force in East Los Angeles. Having served as a firefighter union board member since 1991, Pryor currently sits on the Los Angeles County Fire Fighters IAFF Local 1014 board of directors. Pryor is an elected safety member of the Los Angeles County Employees Retirement Association (LACERA), elected to the board of investments and board of retirement. LACERA is a $34 billion county retirement system serving all employees of Los Angeles County. Pryor is chair of the LACERA disability procedures committee and a member of the insurance and legislative committees. He is also a member of the plan administrative committee for the County of Los Angeles, a $4 billion 457 plan for county employees. He is a member of the NCPERS executive board, where he chairs the budget committee and is a member of the audit and healthcare committees. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 97

100 EXECUTIVE BOARD BIOGRAPHIES PATRICIA REILLY Born and raised on Staten Island, New York, Reilly grew up with a passion for technology and public service. She relocated from New York to work for the Town of Palm Beach, Florida, in the mid-1980s, where she pioneered leadingedge technologies to automate the town s critical business processes. Her successful deployment of a police, fire and EMS dispatch system and her efficient introduction of office automation brought her the favorable attention of the Office of the Mayor of New York City. From the late 1980s to the mid-1990s, Reilly served as the director of information technology for the New York City Mayor s Office. Her accomplishments there included an infrastructure redesign and deployment that allowed the Mayor s Office to establish satellite locations throughout the city, and the timely delivery of innovative applications using newly introduced Internet-based development tools. In 1994 Reilly accepted the position of deputy director of information technology with the Teachers Retirement System of the City of New York (NYCTRS). Responsible for replacing the agency s outdated, external computer system with a year 2000-compliant in-house application, Reilly exercised all her managerial skills to ensure that the new system was in production and supporting the pension agency s business units well before the year 2000 deadline. After being promoted to director and charged with creating a new division in NYCTRS, the Business Solutions Group, she put together a highly effective unit focused on managing projects that encompass the implementation of comprehensive solutions to all aspects of NYCTRS business needs, including workflow redesign, system enhancement, training coordination, data correction and creation, stakeholder communications, and organizational restructuring. In 2010, Reilly was named deputy executive director and has brought her unique perspective and ideas to bear as a tireless champion of streamlining, efficiency, and delivery of higher-value services to NYCTRS members. Her thorough grounding in the agency s priorities, operations, and systems positioned her extremely well for leading NYCTRS through the recent Hurricane Sandy disaster. 98 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

101 EXECUTIVE BOARD BIOGRAPHIES In 2013, Reilly was named executive director for the Teachers Retirement System of the City of New York, one of the largest pension systems in the United States, serving over 200,000 members. In 2015, Reilly was elected to the NCPERS executive board, where she serves on the audit, budget and bylaws, and policy and resolutions committees. CAROL G. STUKES-BAYLOR Carol Stukes-Baylor is serving her sixth elected term as trustee of the Philadelphia Board of Pensions and Retirement (first elected in 1994). For the pension board, Stukes-Baylor is a member of the personnel, deferred compensation, proxy, and travel policy committees, and medical panel (chairperson), real estate, and diversity subcommittees. Stukes-Baylor worked for the City of Philadelphia for 41 years in several positions, with the last 20 years as a budget analyst in the Department of Behavioral Health and Intellectual Disability Services (formerly Mental Retardation Services). During her employment with the city, she was elected to several union positions with AFSCME District Council 33 Local 1637 and AFSCME District Council 47 Local For both district councils and locals, she held such offices as shop steward, executive board member, and delegate. Under District Council 47, she was appointed cochair of the pension and benefit committee and delegate to the AFL-CIO. Stukes-Baylor was treasurer for Local 2187 until 2003 and currently vice-chairs the Mid Atlantic Plan Sponsors (MAPS). She is the recipient of the Trustee of the Year Award (1998) and Pathfinder Award (2003) from the National Association of Securities Professionals, and a Trailblazer Award (2003) from MAPS. She is a member of the NCPERS executive board, where she is chair of the insurance committee and serves on the audit, bylaws, and policy and resolutions committees. #NCPERS16 NCPERS 2016 Annual Conference and Exhibition Program Book 99

102 EXECUTIVE BOARD BIOGRAPHIES RICHARD WACHSMAN, TREASURER Richard Wachsman, NCPERS treasurer, had been with the Dallas Fire-Rescue Department for 41 years when he retired as a battalion chief. During his firefighting career, he held offices on the board of the IAFF Local 58. He has been an officer of the Dallas Firefighters Museum s board since its formation in He currently serves as a trustee of the Dallas Police and Fire Pension System and has been extensively involved with the police and fire system for more than 35 years. Wachsman is currently treasurer of the NCPERS executive board, and he serves on the advisers, budget, credentials, and executive committees. 100 Program Book NCPERS 2016 Annual Conference and Exhibition #NCPERS16

103 EXECUTIVE BOARD BIOGRAPHIES