STATE COMPENSATION INSURANCE FUND
BOARD OF DIRECTORS MEETING
May 21, 2010
8:30 a.m. Continuing CLOSED SESSION
12:30 p.m. OPEN SESSION
Or Upon Adjournment or Recess
of the Closed Session, Whichever is Later
Auditorium, Milton Marks Conference Center
455 Golden Gate Avenue
San Francisco, CA 94102
BOARD MEMBERS
Jeanne L. Cain, Chair
Sheryl A. Chalupa
Daniel M. Curtin
Donald E. Garcia
Sen. Michael J. Machado (Ret.)
Lawrence E. Mulryan
Francis E. Quinlan
Steven L. Rank
Thomas E. Rankin
James S. Richardson
John Duncan
William M. Zachry
| CLOSED SESSION | 8:30 a.m. (Continued from May 20, 2010 CLOSED SESSION) | ||
Information/Linda Hoban and |
12. | Claims Operations Benchmarks and Strategies | |
Information/Jay Stewart and |
13. | Independent Auditors Preliminary Report for 2009 |
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Information/Jim Neary |
14. | Independent Actuarial Reserve Opinion and Impact on Rates |
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Information/Jay Stewart |
15. | Financial Results and Competitive Strategy |
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| OPEN SESSION | 12:30 p.m. or upon adjournment or recess of the Closed Session whichever is later | ||
| Action/Sheryl Chalupa | 16. | Call to Order and Roll Call | |
| Action/Sheryl Chalupa | 17. | Consent Calendar1 | |
a. |
Approval of March 18-19, 2010 Open Meeting Minutes | ||
| Attachment | |||
b. |
Board Member Training Opportunities and Approval of Planned Board Member Training | ||
| Attachment | |||
c. |
Report on Board Member Travel Expense Reimbursement—January through April 2010 | ||
| Attachment | |||
d. |
Approval of Retirement Resolutions Nos. 911 – 918 |
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| Attachment (originals available for signature at meeting) | |||
Information/Milliman Inc- |
18. | Presentation of Independent Actuarial Opinion and Appointment of Actuary (Oral) | |
Information/Jay Stewart |
19. | Financial Update—1st Quarter 2010 (Oral) | |
| Information/Doug Stewart | 20. | Interim President's Report | |
a. |
Status Update on State Fund (Oral) | ||
| 21. | Committee Reports | ||
| Action/Sheryl Chalupa | a. |
Governance Committee Update | |
(i) Update on National Search for President and CEO (Oral) (ii) Update on Board Evaluation Process (Oral) (iii) Alignment of Board and Committees 2010 Agenda Items (Oral) (iv) Governance Committee Charter Amendment |
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| Action/Frank Quinlan | b. |
Audit Committee Update | |
(i) Closed Audit Report (Oral) (ii) Audit Committee Charter Amendment |
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| Information/Mike Machado | c. |
Investment Committee Update (Oral) - Amended | |
| Attachment May 21, 2010 | |||
Action/
Peter Guastamachio |
22. | Ratification of Investment Transactions | |
a. |
Bond Transactions | ||
| Attachment | |||
b. |
Compliance Report | ||
| Attachment | |||
| Information/Sheryl Chalupa | 23. | Chair's Report | |
| Information | 24. | Board Member Reports | |
| Information | 25. | Proposals and Suggestions for July, 2010 Agenda | |
| Information | 26. | Public Comment | |
| Next Board of Directors Meetings July 8-9, 2010 | |||
1 Items 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. | |||
