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HomeMy WebLinkAboutMINUTES - 11012005 - C23 TO: BOARD OF SUPERVISORS Contra FROM: INTERNAL OPERATIONS COMMITTEEPal o. osta DATE: OCTOBER 17, 2005co�e •`�'' County SUBJECT: APPOINTMENT TO THE CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION BOARD OF TRUSTEES SPECIFIC REQUEST(S)OR RECOMMENDATION(S)8 BACKGROUND AND JUSTIFICATION RECOMMENDATION: ADOPT Resolution No. 2005/627 appointing J. David Gaynor as the Alternate Member to Members 4, 5, and 9 on the Contra Costa Employees' Retirement Association Board of Trustees for a term beginning January 1, 2006 through June 30, 2008. BACKGROUND: The Internal Operations Committee recruited earlier this year (March-May) to fill three Retirement Board vacancies. The Committee, on October 17, utilized the results of the previous recruitment to formulate its nomination for the Alternate Member. Three candidates were invited to the October 17 Committee meeting: Adrian P. Anderson, J. David Gaynor, and Victoria Lucido (applications, submitted earlier this year, are attached). Each candidate was notified of the Committee meeting and invited to attend. CONTINUED ON ATTACHMENT: ED YES SIGNATURE: oe Z - - ❑ RECOMMENDATION OF COUNTY ADMINISTRATOR Z R C MMENDATION OF BOARD COMMITTEE Z APPROVE OTHER 11 SIGNATURE(S): — G LE B. UILKEQA, Chair MARK DeSAULNIER ACTION OF BOARD ON V,,klol APPROVED AS RECOMMENDED n OTHER ❑ VOTE OF SUPERVISORS: I HEREBY CERTIFY THAT THIS IS A TRUE AND .�� �� , CORRECT COPY OF AN ACTION TAKEN AND 1�UNANIMOUS(ABSENT' ENTERED ON THE MINUTES OF THE BOARD OF AYES: NOES: SUPERVISORS ON THE DATE SHOWN. ABSENT: ABSTAIN: ATTESTED: NOVEMBER 1,2005 Contact,-. JULIE ENEA(925)335-1077 JOHN SWEETEN, CLERK OF THE BOARD OF SUPERVISORS AND COUNTY ADMINISTRATOR cc: STAFF, INTERNAL OPERATIONS COMMITTEE COUNTY ADMINISTRATOR MARILYN LEEDOM, RETIREMENT ADMIN. COUNTY COUNSELBy. ^ �(,�Gt�L Deputy CLERK OF THE BOARD(MADDY BOOK) J. DAVID GAYNOR Appointment of Alternate Member to Retirement Board October 17, 2005 Page 2 The Internal Operations Committee nominates J. David Gaynor for appointment to the Alternate Member seat. Mr. Gaynor was advised of the time commitment required of Retirement Board members and alternates, and has accepted the nomination. THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Resolution on November 1, 2005 by the following vote: AL- AYES: Gioia,Piepho,DeSaulnier,Glover and Uilkema o� NOES: None m�s ABSENT: None ABSTAIN: None ' Ups SUBJECT: In the matter of appointing an ) Resolution No. 2005/627 Alternate to Members 4, 5, 6, and 9 ) on the Retirement Board ) WHEREAS, on July 18, 2005, the Governor signed into law Assembly Bill 719,which permits the Contra Costa County Board or Supervisors, by resolution adopted by a majority vote, to appoint an alternate member for the 4"', 5th, 6"', or 9"'member of the Contra Costa Employees Retirement Association Board of Trustees (Retirement Board); and WHEREAS, the new law prohibits an alternate member from serving for a supervisor who has been appointed as the 4t', 5"', 6"', or 9th member until service of this type is approved by a majority of the electors in the county. Therefore, any alternate member appointed by the Board of Supervisors may not serve for the e member of the Retirement Board through Supervisor Gioia's term, which ends June 20, 2008; and WHEREAS, the term of office for the alternate member will begin on January 1, 2006 and will run concurrently with the teen of office of the 9"'member—through June 30, 2008; and WHEREAS, the alternate member shall vote as a member of the Retirement Board only in the event the 4h, 5t', or 9thmember is absent from a Board meeting for any cause (Member 6 is currently excluded because that member is a County Supervisor); and WHEREAS, if there is a vacancy with respect to the 4th, 5th, 6"', or 9"'member, the alternate member shall fill that vacancy until the Board of Supervisors appoints a new regular member; NOW, THEREFORE, THE BOARD HEREBY RESOLVES that the following individual is appointed to serve as the Alternate Member to Members 4, 5, 6, and 9 on the Retirement Board to a term beginning January 1, 2006 and ending June 30, 2008: J. David Gaynor 100 David Lane Danville, CA 94526 I hereby certify that this is a true and correct copy of an cc: County Administrator action taken and entered on the minutes of the Board of Retirement Administrator Supervisors on the date shown J.David Gaynor County Counsel ATTESTED: NOVEMBER], 2005 Clerk of the Board(Maddy Book) John Sweeten, Clerk of the Board of Supervisors And Cou Administrator BY Deputy Assembly Bill No.719 CHAPTER 63 An act to add Section 31520.12 to the Government Code, relating to county employees'retirement [Filed with Secretary of State July 18,2005.] LEGISLATIVE COUNSEL'S DIGEST AB 719,Canciamilla.County retirement boards:alternate members. The County Employees Retirement Law of 1937 sets forth the membership composition requirements for the board of retirement of counties subject to certain provisions regarding safety members.The 4th, 5th, 6th, and 9th members are required to be qualified electors of the county who are not connected with the government, except that one may be a member of the county board of supervisors.Existing law authorizes a retirement board, in specified instances, to appoint an alternate retired member to the office of the 8th member of the board. This bill would permit the Board of Supervisors in Contra Costa. County, by resolution adopted by majority vote, to appoint an alternate member for the 4th, 5th, 6th, or 9th member of the board of retirement. The bill would require that the alternate member have the same compensation,term of office,except as specified,and voting privileges as his or her counterpart, as specified. The bill would prohibit an alternate member from serving for a supervisor who has been appointed as the 4th, 5th,6th,or 9th member until service of this type is approved by a majority of the electors in the county. The people of the State of California do enact as follows: SECTION 1. Section 31520.12 is added to the Government Code, to read: 31520.12. (a) Notwithstanding Section 31520.1, and subject to the limitations of subdivision (c), in any county subject to Articles 6.8 (commencing with Section 31639) and 7.5 (commencing with Section 31662),the board of supervisors may,by resolution adopted by majority vote, appoint an alternate member for the fourth, fifth, sixth, and ninth members. The term of office of the alternate member shall run concurrently with the term of office of the ninth member. The alternate member shall vote as a member of the board only in the event the fourth, fifth,sixth,or ninth member is absent from a board meeting for any cause. If there is a vacancy with respect to the fourth, fifth, sixth, or ninth member, the alternate member shall fill that vacancy until a successor qualifies. 94 Ch*63 2- (b) The alternate member for the fourth, fifth, sixth, or ninth member shall be entitled to the same compensation as the fourth, fifth, sixth, or ninth member for attending a meeting,pursuant to Section 31521,whether or not the fourth,fifth,sixth,or ninth member attends the meeting. (c) If the board of supervisors appoints a supervisor as the fourth,fifth, sixth, or ninth Member, an alternate member appointed pursuant to subdivision(a)may not serve as an alternate for that supervisor member unless service by an alternate member for an appointed supervisor member is approved by the majority of the electors in the county. (d) This section shall apply only to a county of the ninth class, as defined in Sections 28020 and 28030. 0 94 CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION RETIREMENT BOARD MEMBERSHIP TIME COMMITMENTS, CONFLICTS OF INTEREST, FIDUCIARY LIABILITY Regular Meetings The Board holds its regular business meeting the second and fourth Wednesdays of each month except in May and November,when the meeting scheduled for the second Wednesday is usually moved to.the first Wednesday of the month. Meetings begin at 8:30 a.m. and most often end before 4:00 p.m. The agenda and meeting materials are mailed.6 days before the meeting. Reviewing the packet and preparing for a meeting takes approximately 4-5 hours. Post-meeting time can vary from 1-4 hours. Special Meetings The Board holds special meetings to hear presentations from firms during a manager search,to review results of the annual actuarial valuation,and to meet with advisors and consultants on matters of particular interest,which may arise from time to time. Typically there are 2-4 of these additional meetings each year and can be scheduled for either a morning or afternoon starting time. Preparation also varies depending on the subject matter. Stand*ng Committees The Board had two standing committees(Investment and Administration), each of which met once a month. These standing committees were disbanded in late 2002, and instead, the second regular monthly meeting was added.. Miscellaneous Time Board members are provided with subscriptions to several pension and investment- related magazines and periodicals that are intended to help the trustee stay informed on events,products,regulations,providers,concepts, innovations,controversies, and people as they relate to pension fund administration. Time to review these materials varies depending on the extent to which the trustee feels the need for this information. Travel and Training The Retirement Board serves as fiduciary for the Association's Trust. As fiduciaries, Board members are held to the"prudent person"standard on investment decisions. For this reason,the Board places a great deal of emphasis on continuing education of its members. Trustees are encouraged to attend seminars and conferences dealing with benefits administration and investments. These educational opportunities are regularly placed on the Board meeting agenda. The association reimburses Board members for expenses incurred in conjunction with any training specifically authorized. The typical Board member spends from 7-12 days attending educational seri ars and conferences each year. Conflicts of Interest Board members are prohibited from marketing any investment,consulting or related service to the Board. For example,if a Board member is employed by XYZ Advisors, a firm that provides investment or consulting services to institutional investors, a conflict of interest would arise if that Board member marXYZ's services to the Board or ifketed the Board already retained XYZ as an advisor. Board members are required to file disclosure forms each year. Such things as sources of income for the Board member and his or her spouse,property ownership,partnerships, investments, and gifts are required to be disclosed. All disclosure documents are open to the public. Fiduciary Liability Trustees are held to a strict code of conduct in every decision they make as Board members. Although infrequent in the public sector, a Board member can be sued for personal liability arising from a decision or action by the Board. The Association procures fiduciary liability insurance to cover the Board in its official capacity but is precluded by law from purchasing similar coverage for personal liability of each Board member. Such coverage is,however, available to Board members at a no 'nal cost. SUMMARY OF TIME COMMITMENTS MEETINGS Minimum Maximum Hours/Year Hours/Year Monthly Meetings Prep. Time 120 216 Meeting 144 160 Special Meetings Prep. Time 4 8 Meeting 10 20 TOTAL 278 404 EDUCATION 7— 12 days per year attending out-of-town se and conferences. NORTH POINT ADVISORS RECEIVED April 20, 2005 APR 2.1 20051 Julie Enea CLERK C037A C�VISORS Senior Deputy County Administrator C/o Office of the Clerk Board of Supervisors 651 Pine Street, Room 106 Martinez, CA 94553 Dear Ms. Enea: would like to thank you for sending me an opportunity to apply for a seat as a Trustee on the Board of Retirement. I have been professionally working as a fiduciary for pension funds since 1979. Aller a 30 year career in the financial services industry and over 25 years involved with pension fund investments, formed my own company in March 2004 to provide investment management and consulting services to institutional pension plans. We are a full service consulting firm and our resources are available to the Board at no cost. Aller serious consideration, I have decided to accept your invitation and apply for the seat on the Board of Retirement, as stated earlier, I have been involved with pension fund investing since 1981 and have a wide variety of experiences in the investment industry. I have over 1 3 years of experience as a plan sponsor, 3 years of experience as an equity portfolio manager, and over 10 years of experience as an investment consultant. I am well versed in all aspects of investing and retirement issues. Our nation is faced with many challenges in the retirement planning arena and these challenges also impact Contra Costa County. I have been a County resident for the past 9 years and all of my children are products of the San Ramon Valley Unified School District. I am active with the Girl Scouts and local athletics, am honored to be of service to the County. Enclosed, please find my application and resume. Sincere) , Adrian P. derso CEO 2200 Powell Street,Suite 610 800-638-8121 ext 125 Emeryville, CA 94608 CONTRA COSTA COUNTY ADVLSORY BOARDS, CONIlVIISSIONS,OR CObIIVIITTEES APPLICATION FORM Name of Advisory Body applying for Ae PLb1E� fRE77�''�^�7'A55OC F&7-1 REineIV Application Form mmt be typed or hand ted- 0 R-/A-AJ /S 6/l.'Sv/✓Nme Of AWlicant., 14 `114 Home A&Iess: city.* e�zP: 9 �.S�3 2.6' 9 xo�rte: 92s''8S"5'= 9 6 5' 7 Wo&Phone: 91, s;�,e: nom: `�/�-o�� Ezperiencea,Slallbe,and Interestson/ I ISIP - Ba WA ft /�eo.�,L--�ii,�/g. �/.�, G-jo.,,,.�. Univ, /976 �- jo �EoQyE,�As�.s/ aF� is �� oo Occupation/EmPloyer: �f�/EF' �.t'.�e, dF�/eF•� /�/D 2Tjf �o/.U% Al�/,�.p Q.,S �rnE,,eyv/�E� Community Activities: ��uF. �rC��s` ���� J"� i/f��7GS e9/ ej j3' _ — li/e�2K 1%4 =�7?�Z �o�'�,CY 19:3 6'j//t 5/� .SP6Ayi�PlL '-'cSi. G'LA-sc6's �'/%S e,-ZPA-t- r7 e--.S Special Interests: an*e -FiJOLf Information: L File completed application with Clerk ofthe Board. 651 Pine Street,Room 106,Martine4 CA 945530 2, Members of some advisory bodies Maybc required to file anniConflict of Interest Statements. accessible 'm I Address and other contact informationprovided on application will be accessibie to the general public. 4. Meetings of advisory bodies may be held M* Martinez or m' areas not accessible by publictransportation. 5. Meexings maybe held Inthe10 evenings or during the day usually once or twiceEIVEto subcommittem or woxk groups requmng6, Some boards assi membersadditional 0 7. If you wish you may attach your resume_ APR 2 1 Z005 �: 6LOv. SUPERVISORS CLERK BOARD OF on.& CONTRA COSTA CO. Adrian Anderson 3672 Norris Canyon Rd. Sao Ramon, California 94583 925-855-9697 925-855-5574 fax EXPERIENCE North Point Advisors—Founder and Equity Owner March 2004-to present Chairman of Board of full service investment consulting and advisory firm. Perform wide variety of investment consulting and advisory functions. North Point also offers fiduciary and general pension consulting services.North Point also provides fiduciary consulting services and due diligence tasks for institutional investors. In depth knowledge of all areas of investments. United Investment Managers—Jan 2000 to Feb 2004 —Member of the portfolio management team and investment policy committee for this manager of managers affiliate of the Gray Investment Services Corp. Developed alpha model for the manager selection process and participates in all phases of manager structure development, manager due diligence and risk controls. Portfolio management process has generated top quartile returns since inception. Gray& Co.—July 1999 to Feb 2004—Senior Consultant for this full service investment consulting firm headquartered in Atlanta, Ga. Total client assets under consultancy are $20 billion. Manages the San Ramon, CA office. Perform all investment consulting tasks including asset allocation,manager structure development,manager due diligence and investment policy development. Duties also include evaluating real estate and alternative investments. Leads the development of the practice's research effort and capital market theory. Watson Wyatt Investment Consulting—March 1995 to June 1999- Senior Consultant and Director for Public Funds for this full service investment consulting firm in San Francisco, CA. Performed all investment consulting activities including investment research, investment policy development and working with the public fund marketplace. Participated on the fixed income and international equity specialist teams.. Greaves Capital Management—August 1992 to February 1995—Portfolio manager for value equity boutique investment firm in Atlanta, Ga. Performed all functions of investment analysis and portfolio management Experienced in securities analysis, industry analysis, economic analysis and portfolio risk controls. Experienced in working with the BARRA risk analysis software. District of Columbia Retirement Board—July 1985 to April 1992—Executive Director from 1988 to 1992. Directed the investment,benefit and operational functions of this independent agency of the District of Columbia government. Oversaw all agency operations and managed an internal short term portfolio. Assets grew from $80Q million to $2.5 billion. Handled all major agency functions and participated in various hearings before the City Council and the Subcommittee on the District of Columbia within the House of Representatives. United Mine Workers of America Health and Retirement Funds—September 1979 to June 1985—Comptroller from 1983 to 1985. Managed the entire financial accounting function for this Washington,DC Taft Hartley pension plan with over$4 billion in assets. Duties included overseeing the investment and general accounting,payroll, income collection,, and field auditing functions. Oversaw an operation of over 100 professionals. Bank of Virginia and First Virginia Banks—August 1976 to August 1979—Senior '60. internal auditor conducting various internal audits within these two large bank holding in companies. Experienced in all phases of banking operations and speciai2ized real estate and trust audits. EDUCATION AND PROFESSIONAL BS in Accounting 1976 Virginia Commonwealth University CPA State of Maryland 1978 JD with emphasis in finance and international law 1983 George Mason University School of Law CONTRA COSTA COUNTY ADVISORY BOARDS, COADUSS CONGVHT ES APPLICATION FORM RECEIVED `r 2 9 2005 Name of Advisory Body applying for `( ��� 1111 iill re 91111111111 611161F 1UPERVISORS CONTRA COSTA CO. Application Form mast be typed or hand printed Name of Applicant: - V� V L Home Address: L� L City: ���1��Ll�(C State: ZIP- Home Phone: � 57 � Work Phone: C,-) Signature: Dom: It�fa s Personal Experiences,SUls,and Interests 1470l0 W Education/Background: �WG� SIJ o Kr�•� 1.0t4* *'� �`�P•� '(� Prc►�i��t, G v.�n N� ��LS . ��.�`r.R.l�6e, � 0I' u�74 S CoC� �9�1>S o � 1�tR2G�S occupation/Employer: K7il 41� � Community Activities: '�4. All >?(C S _ - \ > 4 �y�S Special Interests: f*ZV(000, fo aflon.0 1. File completed application with Clerk of the Board. 651 Pine Street, Room 106,Martinez,, CA 94553. 2. Members of some advisory bodies may be required to file annual Conflict of Interest Statements. 3. Address and other contact information provided on this application will be accessible to the general public. 4. Meetings of advisory bodies may be held in Martinez or in areas not accessible by public transportation. 5. Meetings maybe held either in the evenings or during the day,usually once or twice a month 6. Some boards assign members to subcommittees or work groups requiring additional time,. 7. If you wish you may attach your resume. ��t"�f Ct,7l�r"!"p�l� t✓`jam lt�(. i�firi-' G'<.�i�1=��-71� J. David Gaynor, DDS Curriculum Vitae Offices0 Home: 10ODaWdLane LkwW11e, Ca 94526 (925) 314-9575 Education: Undergraduate College 1949-1951 University of California at Los Angeles University of California at San Francisco College of Dentistry Degree: Doctor of Dental Surgery(DD.S 1951-1955 Professional License Number. 13350 Dental Specialty.* Pediatric Dentistry [Military Record United States Air Force-Captain 1955-1957 Professional Practice Pediatric Dentistry, Beverly Bills, California 1957-1982 Rork History MBNA America, Vice President-Account Executive 1997-2001 The Dentists Company-Presided and CEO 1989-1997 The Dentists Company-President 1982-1997 The Dentists Insurance Company-President and CEO 1979-1982 The Dentists Company Insurance Services-President and CEO 1989-1997 The Dentists Company Insurance Services-President 1982-1989 California Dental Association-Associate Executive Director 1982-1989 _ Curriculum Vitae of David Gaynor,DDS Page 2 [Voluutary.Activities Hope Hospice-Pleasanton Board of Directors 2003-2005 Contra Costa County Emergency Care Committee Alternate 2002-2005 Contra Costa County Grand Jury 2001-2002 Chairn en-Health and Human Services Committee 2001-2002 Contra Costa County Grand Jury 2002-2003 ProTem 2002-2003 American Dental Association Delegate, California Dental Association 1971-1985 Reference Committee-Chairmen-Association Structure 1977 California Dental Association Immediate Past President 1980-1981 President 1979-1980 Vice President 1977-1978 Treasurer 1975-1977 Board of Trustees Member 1973-1981 Executive Director Search Committee-2001 Special Committee to Study the Future of the Holding Company-2002 Special Committee to Study the Organization of 1201 Company and The Dentists Insurance Company-2003 Special Committee to Study the Future of the Council on Insurance-2004 Los Angeles Dental Society President 1970-1971 President-Elect 1969-1970 Vice President 1968-1969 Secretary 1967-1968 American Academy of Pediatric Dentistry Immediate Past President 1986-1987 President 1985-1986 President-Elect 1984-1985 Vice President 1983-1984 Board of Directors Member 1979-1982 Current Professional Membership and Honorary Societies American Dental Association International College of Dentists American Academy of Pediatric Dentistry California Dental Association Contra Costa Dental Society American College of Dentists Professional Honors Oron& Phyllis Davis Memorial Award-Los Angeles Dental Society-1989 Curriculum Vitae of J.David Gaynor,DDS Page 3 Dedication of Scientific Session-California Deftba.l Association-1991 Honorary member-California Dental Association-1997 Pierre F42 ic Academy-1997 Meritorious Service Award-California Dental AssociationrNovember., 2001 American College of Dentists-Dr. Willard C. Fleming Meritorious Services Award May-2002 Community Service Campaign to Secure Fluoridation for Los Angeles 1964-1966 Personal Birth Date: April 5, 1931 —Los Angeles, California Wife: Frances Barbara Gaynor Children: Mark & Cindy CONTRA COSTA COUNTY ADVISORY BOARDS, COMMISSIONS, OR COAUMT ES APPLICATION FORM 7 Name of Advisory Body applying for />. Z.Q��"—0,q pHcation Form mast betyped or hand printed Name of Applicant: � Home Address: / City: 4 State:. ZIP: Home Phone: —f%00 Vork Phone: SlgnBtuie: r �-c rC� �[-�L� Date: Personal Experiences, Stalls,and Inte ��s Education//B kgund: ���� 00 -goo 07, 5Z; 7 Occupation/E pip�yer G L Community Acti ties: 00, led ZreI loe�� Special Interests: < 0 .0I � Informa�h'ns 1,I File completed..application with Clerk of the Board. 651 Pine Street,Room 106, Martinez, CA 94553. 2. Members of some'ativisory�odies may be required to file annual Conflict of Interest Statements. *3. Addr6ss and other 66filact on provided on this application will be accessible to the general public. 4. 1Vleetings of advisory Bodies may be held in Martinez or in areas not accessible by public ft-ansportation. t 5. Meetings may be held eithei in the evenings or during the day, usually once or twice a month. 6. Some boards assign members to subcommittees or work groups requiring additional time. 7a... If you wish you may attach.your resume.