ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
BOARD OF RETIREMENT
2223 E. WELLINGTON AVENUE, SUITE 100
REGULAR MEETING
JULY 19, 2010
8:30 a.m.
AGENDA
The Orange County Board of Retirement welcomes you to this meeting. This agenda contains a brief general description of each item to be considered. The Board of Retirement encourages your participation. The public, plan members, beneficiaries, and/or representatives may speak to any subject matter contained in the agenda at the time the item is addressed. Except as otherwise provided by law, no action shall be taken on any item not appearing in the following agenda. When addressing the Board, please state your name for the record prior to providing your comments. Speakers will be limited to three (3) minutes.
Pledge of Allegiance
CONSENT AGENDA
All matters on the Consent Agenda are to be approved by one action unless a Board Member or a member of the public requests separate action on a specific item.
C-1 MATERIAL DISTRIBUTED
Application Notices - July 19, 2010
Death Notices - July 19, 2010
Recommendation: Receive and file.
C-2 BOARD MEETINGS AND COMMITTEE MEETINGS:
Approval of Meetings and Minutes
Regular Board Meeting - June 22, 2010
Recommendation: Authorize all meetings and approve all minutes.
C-3 UNAUDITED FINANCIAL STATEMENTS FOR THE MONTH ENDING APRIL 30, 2010
Recommendation: Receive and file.
C-4 SECOND QUARTER 2010 EDUCATION AND TRAINING REPORT
Recommendation: Receive and file.
C-5 LEGISLATIVE UPDATE – JULY 2010
Recommendation: Receive and file.
Recommendation: Receive and file.
C-7 CLIENT CONFERENCE/MANAGER DUE DILIGENCE REPORTS
Recommendation: Receive and file.
Recommendation: Accept invitation for Rich White to speak at the California Retired County Employees Association (CRCEA) Fall Conference.
Recommendation: Receive and file.
* * * * * * * END OF CONSENT AGENDA * * * * * * *
INDIVIDUAL ITEMS AGENDA
I-1 INDIVIDUAL ACTION ON ANY ITEM TRAILED FROM THE CONSENT AGENDA
I-2 DISCUSSION ON OPERATIONAL DUE DILIGENCE
Presentation by Kreischer Miller
I-3 CHIEF INVESTMENT OFFICER’S REPORT
Presentation by Shanta Chary
I-4 2009 ACTUARIAL VALUATION/ EMPLOYER and employee Contribution Rates for Fiscal Year 2011-2012
Presentation by Andy Yeung
2. Approve the employer and employee contribution rates for fiscal year 2011-2012 as recommended by The Segal Company.
3. Receive and file the July 8, 2010 Projection of Retirement Costs Under Alternative Economic Scenarios report.
I-5 PREMIUM PAY REVIEW
Presentation by Harvey Leiderman
Recommendation: Receive and file.
Presentation by Steve Delaney
Recommendation: Approve agenda for the September 9, 2010 OCERS Board of Retirement Strategic Planning workshop.
* * * * * * * END OF INDIVIDUAL ITEMS AGENDA * * * * *
CLOSED SESSION
E-1 CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION
Adjourn pursuant to subdivision (c) of Government Code Section 54956.9 (Number of potential cases: two)
Recommendation: Take appropriate action.
Adjourn pursuant to subdivision (a) of Government Code Section 54956.9 (one case: County of Orange, California v. Association of Orange County Deputy Sheriff’s)
Recommendation: Take appropriate action.
* * * * * * END OF CLOSED SESSION * * * * *
10:00 a.m.
NOTE: WHEN CONSIDERING DISABILITY RETIREMENT APPLICATIONS, THE BOARD MAY FIND IT NECESSARY TO DISCUSS MATTERS RELATING TO THE EVALUATION OF THE WORK PERFORMANCE OF AN EMPLOYEE WHO HAS APPLIED FOR DISABILITY RETIREMENT, OR DISCUSS COMPLAINTS OR CHARGES MADE AGAINST SUCH EMPLOYEE. IF THIS OCCURS, THE BOARD MAY ADJOURN TO A CLOSED SESSION TO DISCUSS SUCH MATTERS PURSUANT TO GOVERNMENT CODE SECTION 54957, UNLESS THE EMPLOYEE REQUESTS THAT THE DISCUSSION BE IN PUBLIC.
staff recommendation is to Grant service connected disability retirement with an effective date of June 26, 2009. (Safety member) (D-1)
D-1: Clyde T. Litton
Fire Apparatus Engineer, OC Fire Authority
Application for service connected disability retirement
STAFF RECOMMENDATION IS TO Grant service connected disability retirement with an effective date of September 25, 2009. (general member) (D-2)
d-2: Walter J. Maxwell
Sheriff’s Special Officer, OC Sheriff’s Department
Application for service and non-service connected disability retirement
STAFF RECOMMENDATION IS TO Grant service connected disability retirement with an effective date of October 24, 2008. (safety member) (D-3)
D-3: William S. Sinclair
Fire Captain, OC Fire Authority
Application for service and non-service connected disability retirement
staff recommendation is to Grant non-service connected disability retirement with an effective date of February 12, 2007 and to Deny service connected disability retirement due to insufficient evidence of job causation. (general member) (D-4)
D-4: Robin A. Herrera
Coach Operator, OC Transportation Authority
Application for service and non-service connected disability retirement
staff recommendation is to Deny service connected disability retirement due to insufficient evidence of permanent incapacity.
(general member) (D-5)
D-5: Eugen Cioban
Facilities Mechanic, OC Sheriff’s Department
Application for service connected disability retirement
Staff recommendation is to adopt the findings and recommendations of the Referee and grant Applicant’s application for service connected disability retirement with an effective date of June 8, 2007. (Safety member) (D-6)
D-6: Aaron V. Windham (deceased)
Deputy Sheriff II, OC Sheriff’s Department
Application for service and non-service connected disability retirement
Staff recommendation is to adopt the findings and recommendations of the Referee and deny Applicant’s application for non-service connected disability retirement. (General member) (d-7)
D-7: Moises Valdez
Office Assistant, Child Support Services
Application for service and non-service connected disability retirement
Staff recommendation is to Confirm the staff determination of this member’s effective date of disability retirement as August 20, 2007, the day after the last day of regular compensation. (Safety member) (d-8)
D-8: Paul D. Sousa
Deputy Sheriff II, OC Sheriff’s Department
Member appeal regarding effective date
* * * * * * * END OF DISABILITY APPLICATIONS/MEMBER APPEALS AGENDA * * * * * * *
PUBLIC COMMENTS: At this time members of the public may address the Board of Retirement regarding any items within the subject matter jurisdiction of the Board, provided that no action may be taken on non-agendized items unless authorized by law.
CHIEF EXECUTIVE OFFICER/STAFF COMMENTS
COUNSEL COMMENTS
ADJOURNMENT: (IN MEMORY OF THE ACTIVE MEMBERS, RETIRED MEMBERS, AND SURVIVING SPOUSES WHO PASSED AWAY THIS PAST MONTH)
NOTICE OF NEXT MEETING
INVESTMENT COMMITTEE MEETING
AUGUST 5, 2010
8:30 a.m.
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
2223 E. WELLINGTON AVENUE, SUITE 100
SANTA ANA, CA 92701
AUDIT OVERSIGHT COMMITTEE MEETING
AUGUST 17, 2010
9:00 a.m.
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
2223 E. WELLINGTON AVENUE, SUITE 100
SANTA ANA, CA 92701
REGULAR BOARD MEETING
AUGUST 23, 2010
8:30 a.m.
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
2223 E. WELLINGTON AVENUE, SUITE 100
SANTA ANA, CA 92701
INVESTMENT COMMITTEE MEETING
AUGUST 24, 2010
8:30 a.m.
ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
2223 E. WELLINGTON AVENUE, SUITE 100
SANTA ANA, CA 92701
All supporting documentation is available for public review in the retirement office during regular business hours, 8:00 a.m. – 5:00 p.m., Monday through Thursday and 8:00 a.m. – 4:30 p.m. on Friday.
It is OCERS' intention to comply with the Americans with Disabilities Act ("ADA") in all respects. If, as an attendee or participant at this meeting, you will need any special assistance beyond that normally provided, OCERS will attempt to accommodate your needs in a reasonable manner. Please contact the Board Secretary, Tracy Ayres at 714-569-4818 as soon as possible prior to the meeting to tell us about your needs and to determine if accommodation is feasible. We would appreciate at least 48 hours notice, if possible. Please also advise us if you plan to attend meetings on a regular basis.