FRESNO COUNTY BOARD OF RETIREMENT



BOARD OF RETIREMENT

FRESNO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION

Wednesday, September 5, 2007 – 8:30 AM

FCERA Boardroom

1111 H Street

Fresno, CA 93721

AGENDA

1. Call to Order

2. Pledge of Allegiance

3. Public Presentations – Any member of the public may address the Retirement Board on any topic within the jurisdiction of the Retirement Board. Individual presentations shall be limited to five (5) minutes. The Retirement Board is generally legally prohibited from taking any action on presentations until a subsequent meeting.

Consent Agenda/Opportunity for Public Comment: All items listed with an asterisk (*) are considered to be routine and non-controversial by staff and will be approved by one motion if no member of the Board or public wishes to comment or ask questions. If comment or discussion is desired by anyone, the item will be removed from the consent agenda and will be considered in the listed sequence with an opportunity for any member of the public to address the Board concerning the item before action is taken. Staff recommendations are shown in caps after each item.

*4. Approve the August 15, 2007 Retirement Board Regular Meeting Minutes – RECEIVE AND FILE; APPROVE

*5. Retirements – RECEIVE AND FILE; APPROVE

|Guadalupe Aguilar |E&TA |18.09 |

|James Richard Armstrong |Community Health |19.05 |

|Flora L. Bowles |NCFPD |18.17 |

|Janet M. Burris |District Attorney |18.99 |

|Rosemary Coleman |Community Health |19.28 |

|Bruce E. Derry |Agriculture |5.90 |

|Gus Garabedian |Children & Family Service |26.28 |

|Gayle Gutekunst |Public Defender, Deferred |13.80 |

|Michael A. Hartly |Community Health, Deferred |17.58 |

|Gary L. Johnson |Sheriff |29.48 |

|Gloria B. LeDoux |Child Support Services |26.60 |

|Ellen M. Lennon |Community Health |19.70 |

|Mary S. Lopez |E&TA |23.95 |

|Terry L. Luna |Children & Family Svs, Deferred |17.39 |

|Christina Moses |Probation |25.38 |

|Jan L. Munson |Behavioral Health |13.66 |

|Dennis C. Plann |Agriculture |35.54 |

|David H. Provencio |Superior Court, Deferred |26.40 |

|Vanaye E. Ransom |Community Health |11.65 |

|Louie Souza |Fig Garden Fire District, Deferred |3.35 |

|Peggy Lee Stafford |E&TA |21.06 |

|Judith Tucker |District Attorney |29.05 |

|Guadalupe M. Velasco |Superior Court |17.13 |

|James B. Wold |Superior Court |10.88 |

|Alex G. Ybarra |Sheriff |21.36 |

| | | |

*6. Disability Retirements – RECEIVE AND FILE; APPROVE

|Geraldine Chisom |E&TA |5.98 |

|Samuel Cortina |District Attorney |11.46 |

*7. Deferred Retirements – RECEIVE AND FILE; APPROVE

|Leroy A. Bibb |General Services |4.24 |

|Albert Bojorquez |Sheriff |17.77 |

|Kathleen Boyer |Community Health |8.02 |

|Christine K. Clendenan |Children & Family Services |7.37 |

|Gilbert D’Souza |Behavioral Health |12.27 |

|Kathleen J. Garcia |Superior Court |0.30 |

|Patricia Gomez |Children & Family Services |5.48 |

|Gudrun A. Griem |Community Health |5.10 |

|Jennifer L. Hamilton |District Attorney |9.27 |

|Diane W. Kecskes |Children & Family Services |0.60 |

|Trygve F. Larson |ITSD |5.42 |

|Robert F. Lewis, Jr. |Behavioral Health |6.05 |

|Fernando Noriega |Community Health |7.93 |

|Danielle A. Payn |Children & Family Services |8.20 |

|Bradley M. Phillips |Public Works & Planning |22.46 |

*8. Most recent investment returns, performance summaries and general investment information from investment managers – RECEIVE AND FILE

• AJO Investment (Acrobat reader required)

• Artisan Investment (Acrobat reader required)

• BCI Investments (Acrobat reader required)

• Blackrock Investment (Acrobat reader required)

• Blackstone Investment (Acrobat reader required)

• Bradford Investment (Acrobat reader required)

• Brandywine Investment (Acrobat reader required)

• Credit Suisse Investment (Acrobat reader required)

• GMO Investment (Acrobat reader required)

• INTECH Investment (Acrobat reader required)

• JER I Investment (Acrobat reader required)

• JER II Investment (Acrobat reader required)

• Kalmar Investment (Acrobat reader required)

• Lonestar Investment (Acrobat reader required)

• Loomis Investment (Acrobat reader required)

• Lynch Jones Ryan Investment (Acrobat reader required)

• Mondrian Investment (Acrobat reader required)

• Oechsle Investment (Acrobat reader required)

• Realty Assoc Investment (Acrobat reader required)

• State Street Investment (Acrobat reader required)

• State Street Overlay Investment (Acrobat reader required)

• TCW Investment (Acrobat reader required)

• Templeton Investment (Acrobat reader required)

• WAMCO Investment (Acrobat reader required)

• Warburg Investment (Acrobat reader required)

• Warburg VIII Investment (Acrobat reader required)

• Wellington Investment (Acrobat reader required)

*9. Public Records Requests and/or Retirement Related Information Requests from Tim Stackhouse, Lipper-A. Reuters Company; John Pinheiro, Personnel Services Manager; Nat Carter, Active FCERA Member; and various FCERA Members regarding the contribution correction process – RECEIVE AND FILE

• PRA Carter (Acrobat reader required)

• PRA Pinheiro (Acrobat reader required)

• PRA Stackhouse (Acrobat reader required)

• PRA Various COLA UAAL (Acrobat reader required)

*10. Update of Board of Retirement directives to FCERA Administration (Acrobat reader required) – RECEIVE AND FILE

*11. Contribution Correction Process Updates – RECEIVE AND FILE

A. Member E-mail (County-wide) (Acrobat reader required)

B. Safety Member Refund Letter (Acrobat reader required)

C. General Tier II Member Refund Letter (Acrobat reader required)

D. General Tier I Member Refund Letter (Acrobat reader required)

E. Safety & General Tier I Member Refund Letter (Acrobat reader required)

F. General Tier I & Tier II Member Refund Letter (Acrobat reader required)

G. General Tier I & Safety Member Refund Letter (Acrobat reader required)

H. General Tier I, Safety, & General Tier II Member Refund Letter (Acrobat reader required)

I. General Tier I and Tier II Member No Refund Letter (Acrobat reader required)

J. General Tier I Member No Refund Letter (Acrobat reader required)

K. Safety 30 Year Stop Member Letter (Acrobat reader required)

L. Timeline (Acrobat reader required)

*12. Memorandum from Wurts & Associates regarding Western Asset Management’s recent performance issues (Acrobat reader required) – RECEIVE AND FILE

*13. Request for approval of Artisan Partners Investment Guideline Revision – RECEIVE AND FILE; APPROVE

• Artisan Partners Amendment (Acrobat reader required)

• Artisan Partners Guideline Revision (Acrobat reader required)

• Artisan Partners Letter (Acrobat reader required)

*14. Request for approval of Wellington Investment Guideline Revision (Acrobat reader required) – RECEIVE AND FILE; APPROVE

15. Discussion and appropriate action on selection of Custodial Services and Benefit Payments provider – RECEIVE AND FILE; APPROVE

A. State Street 8:45 AM - 9:30 AM

B. JPMorgan 9:30 AM - 10:15 AM

C. Fifth Third Bank 10:15 AM - 11:00 AM

16. Presentation of the June 30, 2007 Investment Performance Review presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE

17. Presentation of the June 30, 2007 Guideline Compliance Report presented by Jeffrey MacLean, Wurts & Associates (Acrobat reader required) – RECEIVE AND FILE; APPROVE

18. Discussion and appropriate action on Non Basic Optional Settlement 4 – Robert Skowronski (Acrobat reader required) – RECEIVE AND FILE; APPROVE

19. Closed Session:

a. Conference with Legal Counsel – Actual Litigation - pursuant to G.C. §54956.9(a)

1. Fresno County Employees’ Retirement Association v. Public Pension Professionals

b. Disability Retirement Application – Personnel Exception (G.C. §54957):

1. Donald Jenvey

20. Report from Closed Session

21. Report from FCERA Administration

22. Report from County Counsel

23. Board Member Announcements or Reports

NEXT MEETINGS:

September 19, 2007 – 8:30 AM (Wednesday)

Regular Meeting

FCERA Boardroom

1111 H Street, Fresno, CA 93721

October 3, 2007 – 8:30 AM (Wednesday)

Regular Meeting

FCERA Boardroom

1111 H Street, Fresno, CA 93721

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Requests for disability-related modification or accommodation needed in order to participate in the meeting should be made to Elizabeth Avalos at 457-0350 no later than Friday, 09/04/07 at 10AM.

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