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Contra
To. BOARD OF SUPERVISORS
FROM: INTERNAL OPERATIONS COMMITTEE Costa
DATE: AUGUST 16, 2004 County
SUBJECT: MEETING ATTENDANCE OF BOARD OF SUPERVISORS APPOINTEES
TO THE RETIREMENT BOARD
SPECIFIC REQUESTS)OR REcomw-NnAnON(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
RECEIVE reportregarding the attendance of Board of Supervisors appointees to the
Retirement Board at Retirement Board meetings.
BACKGROUND
In the context of recruitment to fit a Retirement Board vacancy of a Board of Supervisors
representative earlier this year, the Internal Operations Committee was advised that
attendance of the County representatives to the Retirement Board over the last year had been
irregular.
CONTINUED ON ATTACF*&NT YES SIGNATURE:
ADNIMSTRATOR E OF BOARD COMMITTEE
SIGNATURE(S):
7GAYLE IL MA,CHAIR MARK DeSAULNIER
ACTION OF BOARD ONAPPROVE AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT
X UNANIMOUS(ABSENT COPY OF AN ACTION TAKEN AND ENTERED
ON THE MINUTES OF THE BOARD OF SUPERVISORS
ON THE DATE SHOWN
AYES: NOES: ATTESTED, SEPTEMBER 14,2004
ASSENT: ABSTAIN: JOHN SWEETEN CLEW OF T14E BOARD OF
SUPERVI AND COUNTY ADMINISTRATOR
CONTACT: JULIE ENEA(925)335-1077 BY fti. ILI, DEPUTY
CC: W.rEfMAL OPERATIONS COMMITTEE STAFF
BOARD OF SUPERVISORS MEMBERS
RETIREMENT ADM*#STRATOR
Meating Attendance of County Retirement Board Representatives August 16,2004
Internal Operations Committee Page 2
The IOC requested from the Retirement Administrator a monthly attendance report for the
County's four appointed representatives to the Retirement Board. Attendance reports for the
months of.lune and July 2004 are attached for information. Of the four meetings that
occurred in .lune and July, two of four County representatives were present at two meetings
and one of four County representatives were present at two meetings.
There are no express statutory requirements that Retirement Board members attend a
particular number of Retirement Board meetings or training programs. instead, the time
demands for Retirement Board members stem from their status as fiduciaries of the
Retirement System.
Members of the Retirement Board have fiduciary responsibility for the assets, investments of
monies, and administration of the Retirement System. The assets of the Retirement System
are trust funds_ The members of the Retirement Board must discharge their duties with the
care, skill, prudence, and diligence that a prudent person acting in the same capacity and
familiar with these matters would use. The Retirement Board's duty to its participants and
their beneficiaries tabs precedence over any other duty. As fiduciaries, members of the
Retirement Board have a loyalty to members of the Retirement System. Persons appointed to
the Retirement Board must be prepared to spend the amount of time necessary to properly
perform their fiduciary duties.
The Board of Supervisors has no statutory authority to appoint alternate representatives to
ensure full attendance at Retirement Board meetings, ergo regular attendance by the Board's
appointees is essential to effective County representation on the Retirement Board. It is the
practice of the Internal Operations Committee to discuss with candidates applying for the
Retirement Board the time commitment required of Retirement Board: members. All nominees
recommended by our Committee for appointment to the Retirement Board were advised of the
time requirements and all indicated that they could and would demote whatever time is
necessary to properly perform their fiduciary duties.
The Internal Operations Committee will continue to monitor the attendance of the Board of
Supervisors appointees and will report back to the Board of Supervisors if attendance does
not improve.
IOC Packet 8/16104
9:05 a.m. Item
2004 INTERNAL OPERATIONS COMMITTEE
CORRESPONDENCE FROM RETIREMENT ADMINISTRATOR ON
ATTENDANCE OF BOARD OF SUPERVISORS' APPOINTEES
TO THE RETIREMENT BOARD
During the recruitment to fill vacant Retirement Board seats earlier this year, the Internal
Operations Committee asked the Retirement Administrator to provide a monthly report
on the attendance of the Board of Supervisors' appointees to the Retirement Board.
Aggust 16, 2004
Attached for the Committee's information are memoranda from the Retirement
Administrator on Board appointee attendance at meetings during the months of June
and July 2004.
Date: July 15, 2004
To: INTERNAL OPERATIONS COMMITTEE
From: Pat Wiegert, Retirement Administrator
Subject: Retirement Board Meeting Attendance
June, 2004
Pursuant to your request, following is the report on the Retirement Board meeting
attendance of the four Board of Supervisors appointees for June, 2004:
6/16/04 6/23/04
John Cloia absent absent
Paul Katz absent absent
Maria Theresa Viramontes present absent
Clifton Wedington present late 1.75 hrs.
CONTRA"7`+l
EMPLOYEES RETIRE TENT ASSOCIATION
Date: July 29, 2004
To: INTERNAL_ OPERATIONS COMMITTEE
From: Pat Wiegert, Retirement Administrator
Subject: Retirement Board Meeting Attendance
July, 2004
M777x. ... T
Pursuant to your request, following is the report on the Retirement Board meeting
attendance of the four Board of Supervisors appointees for July, 2004:
7/14104 7128104
John Gioia absent present
Paul Katz absent absent
Maria Theresa'Viiramontes absent absent
Clifton Wedington present present
EMPLOYEES RETHIEMENT SO
CONTRA COSTA
ASSOt'UTION