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Board Manual

Updated: June 18, 2018

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Table of Contents

I. BOARD GOVERNANCE STATEMENT  
1.0 Governance Principles  
  1.1 LACERS Statement of Purpose
1
  1.2 Fiduciary Duty
1
  1.3 Code of Ethics
2
  1.4 Mission, Vision, Guiding Principles, Strategic Goals
3
2.0 Governing Statutes  
  2.1 Los Angeles City Charter Section 1106
5
  2.2 California State Constitution Article XVI, Section 17
6
  2.3 General Laws
6
  2.4 Standards of Practice
11
  2.5 Key Documents by Reference
12
3.0 Duties and Responsibilities  
  3.1 The Board's Role
15
  3.2 General Manager
17
  3.3 Commitment of a LACERS Board Member
18
  3.4 Committee Protocol
19
  3.5 Committee Structure
20
  3.6.1 Audit Committee Charter
21
  3.6.2 Internal Audit Charter
25
  3.7 Benefits Administration Committee Charter
35
  3.8 Governance Committee Charter
37
4.0 Board Procedures  
  4.1 General
40
  4.2 Agendas
40
  4.3 Minutes
41
  4.4 Election
41
   
II. BOARD ADMINISTRATIVE POLICIES  
1.0 Guidance for Board Members  
  1.1 Conflict Governance Policy
43
  1.2 Board Education and Travel Policy
46
  1.3 Board Communications Policy
74
2.0 Contract Administration  
  2.1 Marketing Cessation Policy
105
  2.2 Third Party Marketer Compliance Policy
107
3.0 Financial, Actuarial, Audit Administration  
  3.1 Actuarial Funding Policy
110
4.0 Benefits and Member Administration  
  4.1 Board Rules
113
  4.2 Board Rules - Enhanced Benefits
147
5.0 Other  
  5.1 Corporate Governance Actions Response Protocol
160
  5.2 Strategic Planning Policy
161
   
III. BOARD INVESTMENT POLICIES  
1.1 Investment Policy  
I. Introduction
164
II. Investment Goal Statement
164
III. Policies and Procedures
166
IV. Investment Policy
169
V. General Investment Objectives and Guidelines
172
VI. Manager Search and Selection Policy
174
VII. Duties of Responsible Parties
177
VIII. Appendix 1: Asset Allocation Targets and Ranges
181
IX. Appendix 2: Glossary
183