STATE COMPENSATION INSURANCE FUND
BOARD OF DIRECTORS
BOARD OF DIRECTORS MEETING
January 20-21, 2011
2:00 p.m.
Or Upon Adjournment or Recess of the
Investment Committee Meeting, Whichever is Later
One Leidesdorff
Main Floor
344 Pine Street
San Francisco, CA 94104
BOARD MEMBERS
Lawrence E. Mulryan, Chair
Sheryl A. Chalupa
Daniel M. Curtin
John C. Duncan (Ex-Officio)
Donald E. Garcia
Sen. Michael J. Machado (Ret.)
Francis E. Quinlan
Steven L. Rank
Thomas E. Rankin
Scott K. Reid
James S. Richardson
William M. Zachry
| OPEN SESSION | January 20, 2011 @ 2:00 p.m. | ||
| Action/Lawrence Mulryan | 1. | Call to Order and Roll Call | |
Action/Lawrence Mulryan |
2. | Antitrust Admonition | |
| Attachment | |||
| Action/Lawrence Mulryan | 3. | Recognition of Outgoing Board Chair Jeanne L. Cain | |
| Attachment | |||
| Action/Lawrence Mulryan | 4. | Consent Calendar1 |
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a. |
Approval of November 18-19, 2010 Open Meeting Minutes | ||
| Attachment | |||
b. |
Board Member Training Opportunities and Approval of Planned Board Member Training and Expense Reimbursement |
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| Attachment | |||
c. |
Approval of Retirement Resolutions Nos. 953 ~ 965 |
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| Attachment (originals available for signature at meeting) | |||
Information/Dan Sevilla |
5. | Preliminary Year End 2010 Results | |
| Action/Stephanie Chan | 6. | Ratification of Investment Transactions | |
a. |
Bond Transactions | ||
| Attachment | |||
b. |
Compliance Report | ||
| Attachment | |||
| Information/Andreas Acker | 7. | Personnel Matters | |
| a. | Update on Staffing | ||
| Attachment | |||
| b. | Geographic Strategy from Staff Perspective | ||
| Information/S. Coyne | 8. | Information Technology Overview of Organization and Function | |
| Information/Tom Rowe | 9. | President’s Report | |
a. |
Geographic Strategy from Brokers and Other Stakeholders Perspective | ||
| Action/Andreas Acker | 10. | Approval of Real Estate Proposed Transactions | |
11. |
Reports by the Chairs of Committee Activities | ||
| Action/Lawrence Mulryan | a. | Governance Committee | |
| i. Update on Chief Risk Officer and Chief Financial Officer Search | |||
| ii. Ratification of Appointment of Chief Operating Officer Tom Clark | |||
iii. Update on Board Orientation and Board Training |
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| Attachment | |||
| Information/Francis Quinlan | b. |
Audit Committee | |
| i. MAR Compliance | |||
| ii. Completed Closed Audits | |||
Action/Michael Machado |
c. |
Investment Committee | |
| i. Portfolio Benchmark for 2011 | |||
Information/Lawrence Mulryan |
12. | Report by Chair of Board Activities | |
| Information | 13. | Board Member Reports | |
| Information | 14. | Public Comment on Appropriateness of Closed Session for Items 17 through 22 | |
| Information | 15. | Public Comment | |
| CLOSED SESSION | January 20, 2011 @ 5:00 p.m. | ||
| Action/Lawrence Mulryan | 16. | Approval of November 18-19, 2010 Closed Meeting Minutes | |
| Information/Shaun Coyne | 17. | Implementation of Information Technology Strategic Plan [Government Code sections 11126(e), (j)(4)] |
|
| Information/Carol Newman, Suzanne Ah-Tye | 18. | Pending and Potential Litigation
[Government Code sections 11126(e), (j)(4)] |
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| a. | CASE et al. vs. Arnold Schwarzenegger et al.; In the Supreme Court of the State of California, S182581 | ||
| b. | SEIU Local 1000 et al. vs. Arnold Schwarzenegger et al.; Court of Appeal, First Appellate District, Division 2, A126525 | ||
| c. | Cumbre, Inc. and Coachella Valley Insurance Service, Inc. v. State Compensation Insurance Fund, San Bernardino County Superior Court Case No. RCV 073523; 4th District Court of Appeal Case No. E048799; U.S. District Court, Northern District of California, Case No. 4:09-cv-02706; U.S. Court of Appeals for the Ninth Circuit Case No. 09-17190 | ||
| d. | State Compensation Insurance Fund v. Metropolitan West Securities, LLC and Wachovia Bank, N.A.; U.S. District Court, Northern District of California, Case No. 09-2959 | ||
| e. | In the Matter of Jeffrey L. Silverman, Faye J. Silverman, Debtors; State Compensation Insurance Fund vs. Nancy Hoffmeier Zamora, Chapter 7 Trustee, Ninth Circuit Court of Appeals No. 08-56508; U.S. District Court for Central California, Los Angeles No. 2:08-cv-09311 VBF; U.S. Supreme Court No. 10-796 | ||
| f. | State Compensation Insurance Fund v. WCAB (Hancock); C064985 | ||
CLOSED SESSION |
January 21, 2011 @ 8:30 a.m. | ||
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| Information/Francis Quinlan | 19. | Significant Open Audits Report
[Government Code sections 11126(j)(2), (3) and (4)] |
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| Information/Lawrence Mulryan, Tom Rowe | 20. | Personnel Matters
[Government Code sections 11126(a), (j)(4)] |
|
| a. | Update on Search for Chief Risk Officer and Chief Financial Officer | ||
| b. | Preliminary Review of President and Exempt Executives 2010 Performance Against Objectives | ||
| Information/Julie Jenkinson, Beatriz Sanchez | 21. | Claims Strategic Optimization Plan [Government Code sections 11126(e), (j)(4)] |
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| Information/Lawrence Mulryan, Carol Newman | 22. | Proposed 2011 Preliminary Board of Directors Agendas [Government Code section 11126(j)(4)] | |
| OPEN SESSION Omni Hotel, 500 California Street, San Francisco |
January 21, 2011 @ 11:30 a.m. or upon adjournment or recess of the Closed Session, whichever is later. | ||
| Action/Lawrence Mulryan | 23. | Call to Order and Roll Call | |
| Action/Lawrence Mulryan | 24. | Ratification of Appointment of Chief Risk Officer and of Chief Financial Officer | |
Information |
25. | Proposals and Suggestions for March, 2011 Agenda | |
| Next Board of Directors Meeting: March 17-18 , 2011 | |||
1Items on the Consent Calendar include routine actions or matters already considered by a committee of the Board and will be enacted by one motion and one vote. There will be no separate discussion of these items unless a Board Member or the public so requests. It is in the Board’s discretion to remove items already considered by a committee of the Board from the Consent Calendar. Any item removed from the Consent Calendar will be considered in its normal sequence on the agenda. If you wish to have an item removed from the Consent Calendar, please submit a speaker card or make your request at the time the Board Chairperson asks if any member of the public wishes to remove an item from consent. After an item, if any, removed from the Consent Calendar has been discussed, the Board will vote to approve all items remaining on the Consent Calendar.
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Note: Items designated for information are appropriate for Board/Committee action if the Board/Committee wishes to take action. Any agenda item from a properly noticed Committee meeting held immediately prior to this Board meeting may be considered by the Board. Agenda items may be taken out of order with the approval of the Chairperson. Public comment will be limited to three (3) minutes per speaker and ten (10) minutes per subject item. |
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