TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 15, 2018
COMMITTEE ON FINANCE
Mr. John P. Murray, Acting Executive Director
Title
Revised Investment Policy Statement for the Metropolitan Water Reclamation District Retiree Health Care Trust dated as of November 15, 2018
Body
Dear Sir:
Attached for the Board’s consideration and adoption is the revised Investment Policy Statement for the Metropolitan Water Reclamation District Retiree Health Care Trust.
The revised Policy institutes recommendations from the Trust’s investment consultant, Marquette Associates, Inc., and the OPEB Executive Committee to modify the asset allocation and target percentages for the Trust’s investments by: modifying the Trust’s allowable investments and targets to reflect the new asset allocation, removing the Global Tactical Asset Allocation (GTAA) investment class from the Trust’s asset allocation, defining a Policy Index that will be used to evaluate investments according to the new asset allocation targets, and adding new benchmark definitions.
A summary of the requested changes is attached.
It is recommended that the revised Investment Policy Statement be adopted by the Board of Commissioners as the official Investment Policy Statement of the Retiree Health Care Trust for the management and investment of the Trust’s funds.
Requested, Mary Ann Boyle, Treasurer, MAB:st
Respectfully Submitted, Frank Avila, Chairman Committee on Finance
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for November 15, 2018
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