Items Types:
Business and Financial Services
For Meeting of:
February 23, 2015
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Meeting Minutes and Approving the Actions of the General Employees' Pension Advisory Committee for the Meeting of January 30, 2015

The Pension Advisory Committee ("PAC") held a meeting on January 30, 2015, to hear presentations from potential investment managers for the SMID Value portion of the General Employees' Pension Plan investment portfolio.  The PAC had previously asked its investment consultant, NEPC, to identify potential replacements for the current SMID Value manager, Lord Abbett, due to changes in Lord Abbett's investment style that were determined to be inconsistent with the investment objectives of the PAC.  After hearing the finalist presentations, the PAC voted unanimously to select Wellington Management to replace Lord Abbett as the Plan's SMID Value investment manager.

Fiscal & Efficiency Data: N/A

Recommended Action:
Accept the meeting minutes and approve the actions of the General Employees' Pension Advisory Committee for the meeting of January 30, 2015.

Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Michele V. Keane
Approved By:

Department Date and Time
Budget Outside Routing Approval 2/12/2015 1:28 PM
City Clerk 2/12/2015 1:47 PM

Name: Description: Type:
Joint_Minutes_01302015_GE_Final.pdf PAC Meeting Minutes 1-30-2015 Backup Material

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