MINUTES OF THE BOARD OF RETIREMENT MEETING

Transcription

1 MINUTES OF THE BOARD OF RETIREMENT MEETING SAN DIEGO COUNTY EMPLOYES RETIREMENT ASSOCIATION SDCERA Boardroom, 2275 Rio Bonito Way, San Diego, CA October 19, 2017, 9:00 a.m. Minutes provide a summary of the meeting only. Audio and video of the complete open session meeting are available at Board Chair Dianne Jacob called the meeting to order at 9:00 a.m. 1. Roll Call. Ms. Reagan called the roll. There was a quorum. TRUSTEES PRESENT: TRUSTEES ABSENT: STAFF PRESENT: Dianne Jacob, Chair Samantha Begovich, Secretary R.W. Bob Goodchild Dan McAllister E.F. Skip Murphy David Myers Richard Tartre Timothy Hancock Susan Mallett Mark Oemcke, Vice Chair Dick Vortmann David Wescoe, Chief Executive Officer Greg Bych, Chief Financial Officer Stephen Sexauer, Chief Investment Officer Elaine Reagan, Chief Legal Officer Jim Lery, Chief Benefits Officer 2. Pledge of Allegiance. Trustee Tartre led the Board in the Pledge of Allegiance. 3. Public Communications. The Board encourages the participation of the public, Members, beneficiaries, and/or representatives. If you wish to address the Board on a subject not included as an item on today's agenda, you may do so during the Public Communications portion of the agenda. If SDCERA Board Meeting Minutes, October 19, Page 1 of 5

2 you wish to address the Board on a specific agenda item, you may do so at the time that agenda item is taken up by the Board. If you wish to speak to the Board, please fill out a Speaker's Slip located at the back of the Board Room. You will be called on by the Board Chair at the appropriate time during the agenda. When addressing the Board, please state your name for the record prior to beginning your comments. Speaker comments are limited to five (5) minutes. There were no requests to speak. 4. Approval of the September 21, 2017 Board Meeting Minutes. Motion by Dan McAllister, seconded by David Myers, to approve the September 21, 2017 Board meeting minutes. 5. Consent Calendar. A. Disability Consent Calendar Applications. The Board considered and voted on applications for disability retirement. 1) Member application on Keisha M. Blair for a Service-Connected Disability Retirement. Adopt Administrative Recommendation that the application is denied. 2) Member application on Kimberly M. Lewis for a Service-Connected Disability Retirement. Adopt Administrative Recommendation that the application is granted. 3) Member application on Hoang X. Nguyen for a Nonservice-Connected Disability Retirement. Adopt Administrative Recommendation that the application is granted. B. Service Retirement Applications for September Motion by E.F. Skip Murphy, seconded by Dan McAllister, to approve Disability Consent Calendar, and Service Retirement Applications. SDCERA Board Meeting Minutes, October 19, Page 2 of 5

3 6. Disability Retirement Application Hearings. The Board will consider and vote on applications for disability retirement in open session with the following exception: the Board will consider and vote on applications in closed session pursuant to Government Code Section when the applicant has requested a closed session and the Board votes to grant the applicant s requests. A. Hearing Officer Recommendations. 1) Member application on Constance Dorhan for a Service-Connected Disability Retirement. Whether to adopt the Hearing Officer s Recommendation that a Nonservice-Connected Disability Retirement is granted, and the application for a Service-Connected Disability Retirement is denied. Chair Jacob announced that the application of Constance Dorhan was pulled and continued to the December Board meeting. 2) Member application on Nicole L. Weiss for a Service-Connected Disability Retirement. Whether to adopt the Hearing Officer s Recommendation that the application for a Service-Connected Disability Retirement is granted. Motion by E.F. Skip Murphy, seconded by David Myers, to approve staff's recommendation to adopt the Hearing Officer's Recommendation that the application for a Service-Connected Disability Retirement is granted. 7. Staff Reports. A. Chief Executive Officer's Report: David Wescoe Mr. Wescoe introduced three new SDCERA employees: Alyse Goldstein, in the Disability Unit/Legal Division, Meya Alomar in the Member Benefits Division and Elizabeth Jimenez in the Finance Division. Mr. Wescoe discussed this year's Open Enrollment for the Retiree Health Insurance Program, reported on SDCERA's presentation to the San Diego County District Attorney's Office, and commented on the RESDC Health Fair. Mr. Wescoe announced that the November 2017 Board meeting is cancelled and that the next Board meeting will be on December 14, SDCERA Board Meeting Minutes, October 19, Page 3 of 5

4 B. Chief Benefits Officer's Report: Jim Lery Mr. Lery welcomed Meya Alomar to SDCERA and recognized the Benefit Systems Unit for their participation in CPAS training. C. Chief Financial Officer's Report: Greg Bych Mr. Bych welcomed Elizabeth Jimenez to the Finance Division and commented on the progress of the Fiscal Year 2017 audit. D. Chief Legal Officer's Report: Elaine Reagan Ms. Reagan welcomed Alyse Goldstein to the Legal Division. She announced that the Board discussion on the disability process will occur at the December meeting. She reported that the 2018 Board Calendar will follow the same meeting schedule on every third Thursday of the month, and that the Board Education Retreat will be held March 1, Ratify the Audit Committee s Decision to Retain Moss Adams, LLP to Provide Audit Services: David Wescoe, Chief Executive Officer Mr. Wescoe presented the staff report and answered questions from the Board. Motion by E.F. Skip Murphy, seconded by Dan McAllister, to approve Ratification of the Audit Committee's Decision to Retain Moss Adams, LLP to provide audit services. 9. Investment Division Reports: Stephen Sexauer, Chief Investment Officer A. CIO s Staff Report. B. Risk-Return Report. Mr. Sexauer presented the Risk-Return Report and answered questions from the Board. C. CIO Markets Update. Mr. Sexauer presented the Markets Update and answered questions from the Board. SDCERA Board Meeting Minutes, October 19, Page 4 of 5

5 10. Board Education: Real Estate. A. Trustee Education Program: Real Estate. B. Specialist Consultants and Staff. Mr. Sexauer, SDCERA Chief Investment Officer, Heather Christopher, Mike Comstock and David Rose, AON Hewitt Investment Consulting, presented a Trustee Education Program and answered questions from the Board. 11. Seminars and Conferences. Motion by David Myers, seconded by Dan McAllister, to approve the following addition to the Seminars and Conferences list: Skip Murphy January 8-10, 2018 Opal Public Funds Summit Scottsdale, AZ 12. Adjournment. Chair Jacob adjourned the meeting at 11:12 a.m. Dianne Jacob, Chair Samantha Begovich, Secretary SDCERA Board Meeting Minutes, October 19, Page 5 of 5