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Board Manual

Updated: November 21, 2016

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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
26
  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
42
  1.2 Board Education and Travel Policy
45
  1.3 Board Communications Policy
73
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
5.0 Other  
  5.1 Corporate Governance Actions Response Protocol
160
  5.2 Strategic Planning Policy
161
   
III. BOARD INVESTMENT POLICIES  
1.0 Investment Governance  
  1.1 Investment Policy
163
2.0 Asset Classes and Strategies  
  2.1 Alternative Investment Policy
200
  2.2 Specialized, Non-Traditional Alternative Investment Policy
214
  2.3 Real Estate Investment Policy
229
  2.4 Credit Opportunities Strategy Statement
253
  2.5 Real Assets Strategy Statement
258
3.0 Investment Managers  
  3.1 Manager Monitoring Policy
264
  3.2 Emerging Investment Manager Policy
272
4.0 Risk Management  
  4.1 Geopolitical Risk Investment Policy
277
  4.2 Investment Risk Management Policy
282
5.0 Other  
  5.1 Proxy Voting Policy
288
  5.2 Securities Lending Investment Policy
315