M I NUT B S OF THE BOARD OF PERSION COMMISSIONERS MEBTING OF OCTOBER 12, 1995 The Board of Pension commissioners of the City of Los Angeles met in Room 700, 360 East Second Street, Brunswig Square Building, Thursday,. COMMISSIONERS PRESENT: Rockwell Schnabel, President Gay Harwin, Vice President Sam Diannitto David Kim steven Silberman Fred Tredy COMMISSIONERS ABSENT: Nicholas H. Stonnington DEPARTMENT OF PENSIONS: Gary Mattingly, General Manager Royce Menkus, Assistant Manager Allan Moore, Assistant Manager Tom Lopez, Chief Investment Officer Steve Ballweber, Investment Officer Paul Palmer, Investment Officer CITY ATTORNEY'S OFFICE: Eudon Ferrell, Deputy City Attorney President Schnabel called the meeting to order at 12:05 a.m. and referred to Item No.1 on the agenda. Commissioners Diannitto, Harwin, Kim, Silberman, and President Schnabel were present at the beginning of the meeting. D I S C U S S ION I T EMS NEW BUSINESS Mr. Gary Mattingly, General Manager, asked if any Board member made any expenditure to influence State legislative or administrative actions, to which their reply was negative. Mr. Mattingly said he would report that to the Chief Legislative Analyst. COMMUNICATIONS TO THE BOARD a. Status Report of Board Assignments to Staff. Mr. Mattingly submitted his monthly Status Report of Board Assignments to staff.
M I NUT E S Page 2 b. Board Committee Assignments Mr. Mattingly submitted his monthly Board Committee Assignments to staff. c. Monthly Report Mr. Mattingly submitted his Monthly Report. d. Letter from MacFarlane Partners, L.P., dated October 2, 1995, regarding acquisition by GE Capital. This is for information only. COMMITTEE Investment REPORTS Committee Chair Schnabel said his committee met this morning at 11:00 a.m. to discuss the Value managers and the Alternative Investments program, which is an ongoing discussion with no specific conclusion yet but we are getting closer. Read Estate Committee Chair Diannitto stated his committee met Tuesday to discuss the independent Real Estate Advisors Contract. Since he was unable to attend this meeting he turned it over to Commissioner Harwin. There will be another meeting scheduled next week and since the contract with Ron Karp expires September 30, 1995 Mr. Mattingly will put this item on the agenda in two weeks for Board decision. Commissioner Tredy entered the Boardroom during the above discussion. CONSIDERATION OF FUTURE AGENDA ITEMS There was none today. PUBLIC COMMENTS Mr. Mattingly said since there were several holidays coming up in November and December he asked the Board members to let him know if anyone is taking extended vacations during those months. Commissioner Diannitto said that he and Commissioner Harwin attended a conference in New York put on by the Council of Institutional Investors and they both agreed that this is a very worthwhile organization to belong to.
MINUTES Page 3 Lenny Mufioz and Beth Adams came before the Board. Beth Adams is a former disability applicant who withdrew her application because the Police Department stated they had a job for her. Later the Police Department said they would not bring her back to work. Ms. Adams feels the Police Department is not treating her fairly. Mr. Ferrell, Deputy City Attorney said the Board does not have the authority to compel the Police Department to give Sgt. Adams her job back. This is a problem for the Police Department. The Chief of Police has the right to apply for a disability pension for the applicant if they do not have a job available. CON S E N T I T EMS MOT ION Motion made by Commissioner Harwin, seconded by Commissioner Diannitto and approved by the following vote: Commissioners Diannitto, Harwin, Kim, Silberman, Tredy and President Schnabel - 6; noes, none. BOARD ACCEPTANCE OF THREE YEAR EXPERIENCE STUDY BY WATSON WYATT The City Charter requires that not only the Annual Budget be based on a Actuarial report but at least every five years the Department must also get an experience study done by the Actuary. The Board changed this to every three years as a result of a recommendation by the City Administrative Officer. Sharon Peake and Mike McMann from Watson Wyatt came before the Board for their presentation. MOT ION After discussion, Commissioner Diannitto moved to accept the three year experience study by Watson Wyatt which motion was seconded by Commissioner Harwin and approved by the following vote: Commissioners Diannitto, Harwin, Kim, Silberman, Tredy and President Schnabel - 6; noes, none. At this point in the hearing the Board recessed for a short while. D I S A B I LIT I E S A P P L I CAT ION S DISABILITY CLAIM - REVIEW - ARTICLE XXXV - 1 Janice D. Curtiss (P) No change, remain at 45%. Motion made by Commissioner Tredy, seconded by Commissioner Harwin and adopted by the following vote: ayes, Commissioners Harwin, Kim, Silberman, Tredy and President Schnabel - 5; noes, none. Ms. Curtiss was not present but was represented by her attorney, Tom Wicke. Commissioner Diannitto reentered the boardroom.
M I NUT E S Page 4 DISABILITY CLAIM - REVIEW - ARTICLE XVIII - 1 Douglas L. Tantee (P) No change, remain at 60% with a review in two years. Motion made by Commissioner Harwin, seconded by Commissioner Silberman and adopted by the following vote: ayes, Commissioners Diannitto, Harwin, Kim, Silberman, Tredy and President Schnabel - 6; noes, none. Mr. Tantee was present and represented himself. DISABILITY CLAIM - NEW - ARTICLE XXXV - 1 Janine A. Bouey (P) Police Officer II Service-connected disability pension granted in the amount of $1,566.70 or 40% of $3,916.74 with no foreseeable purpose for a review. Motion made by Commissioner Kim, seconded by Commissioner Tredy and adopted by the following vote: ayes, Commissioners Diannitto, Harwin, Kim, silberman, Tredy and President Schnabel - 6; noes, none. Lt. Leslie Lutz, Medical Liaison, Police Department, testified regarding Ms. Bouey. Ms. Bouey was present and was represented by her attorney, Michael T. Roberts. DISABILITY CLAIMS - NEW - ARTICLE XVIII - 4 Mark W. Ehring (P) Detective II Continued. President Schnabel directed that this claim be continued at the request of the applicant's attorney. Mr. Ehring was not present but was represented by his attorney, Michael T. Roberts. Paul J. Kenary (P) Police Officer III (Retired) Application withdrawn at applicant's request. Applicant was not present. President Schnabel left the boardroom for the day and passed the gavel to Commissioner Harwin. Terry L. Kirkbride (P) Detective III Continued. President Pro Tern Harwin directed that this claim be continued to obtain supplemental reports from pension doctors. Lt. Leslie Lutz, Medical Liaison, Police Department, and Dr. Herbert A. Smith testified regarding Mr. Kirkbride. Mr. Kirkbride was present and was represented by his attorney, Michael T. Roberts Commissioner Kim left the boardroom for the day.
MINUTES Page 5 DISABILITY CLAIMS - NEW - ARTICLE XVIII - 4 (CONTINUED) Sam F. Colella (P) Detective III Service-connected disability pension granted in the amount of $3,949.97 or 70% of $5,642.82. Motion made by Commissioner Tredy, seconded by Commissioner Diannitto and adopted by the following vote: ayes, Commissioners Diannitto, Silberman, Tredy and President Pro TernHarwin - 4; noes, none. Mr. Colella was present and was represented by his attorney, Michael T. Roberts. The meeting adjourned at 3:05 p.m. President C.