1. Board members agree to pursue an appropriate level of training across a broad spectrum of pension-related areas. The specific areas in which Board members shall endeavor to gain knowledge and understanding shall include:

• Governance and fiduciary duty
• Investment policy and asset allocation (Board of Investments only)
• Benefits administration (Board of Retirement only)
• Technology
• Regulatory and legal issues
• Human resources management
• Plan funding and valuation

• External conferences, seminars, workshops, roundtables, courses, or similar vehicles (henceforth referred to collectively as “conferences”)
• Relevant periodicals, trade journals, and textbooks
• In-house briefings or presentations provided by senior management, staff, external service providers or others
• Information compiled by staff for trustee use
• Video cassettes, CD ROMs, and other electronic Training media

3. Board members who individually identify opportunities they believe to be timely and appropriate may request that such opportunities, together with the area of knowledge they address, be included in the Board agenda for approval.

4. In determining the priority of particular educational opportunities, the Board and LACERA Administration shall consider:

• The extent to which an opportunity is expected to provide Board members with the understanding and information they need to carry out their responsibilities
• The cost effectiveness of the opportunity
• The timeliness and relevance of the opportunity

5. Board members agree to endeavor to meet the following minimum requirements:

• To secure, over time, a useful level of understanding in each of the seven areas listed above
• To participate in a minimum of one conference annually in addition to in-house briefings and presentations
• To participate in an annual in-house planning and educational initiative organized by management with input from the Board members
• To attend one due diligence exercise during each of their terms
• To participate in educational activities throughout the year that are related to the mandates of Board members’ assigned committee roles, or to have otherwise participated in such relevant activities in the prior year

1. As part of their orientation, new Board members shall, within 45 days following their election or appointment to the Board:

• Be assigned a Board member mentor by the Chief Executive Officer
• Be briefed on the contents of the LACERA Board Handbook by LACERA Administration
• Be introduced to all members of senior management and staff by LACERA Administration
• Be provided a tour of the LACERA offices by LACERA Administration
• Be briefed by the Chief Executive Officer and the Assistant Executive Officers
• Be briefed by the Chair
• Be apprised of their fiduciary duties by Counsel
• Receive other relevant information and documentation from LACERA Administration or the Chair

2. During the course of their first year on the Board, new Board members shall endeavor to attend the California Association of Public Retirement Systems (CalAPRS) program, “Basic Principles of Pension Management.”

3. Prior to their first meeting of the Board, new Board members shall endeavor to attend a meeting of the Board or a standing committee as an observer.

4. LACERA Board Orientation material shall be provided to each new Board member and shall contain, at a minimum:

• The ‘37 Act, the Brown Act, and the LACERA Bylaws
• The most recent member handbook
• Copies of LACERA Board policies
• Most recent actuarial valuation and financial statements
• Most recent business plan, budget, and organizational chart (in LACERA annual budget)
• Names, phone numbers, and email addresses of other Board members and the Chief Executive Officer
• Listing of current committee assignments

1. General Provisions
The following guidelines shall be adhered to with respect to attendance at conferences or seminars:

Board members are encouraged to participate in the following conferences:

• The semi-annual Conference of the State Association of County Retirement Systems (SACRS)
• The General Assembly and Trustee Roundtables of CalAPRS
• The International Foundation of Employee Benefit Plans (IFEBP) Annual Conferences and Trustee accreditation programs
• CalAPRS “Basic Principles of Pension Management"
• Wharton Pension Fund Management Course or equivalent

2. The Board of Investments must attend additional courses (refer to 705.14 of Travel Policy).

View the Board Travel web page for more information and forms.

1. Business equipment:

• Computer
• Desktop computer (with monitor, keyboard, and mouse)
• Laptop computer (with carrying case)
• Printer/fax machine (a combination printer and fax machine)
• Data telephone line for internet access and fax transmission/reception
• Dial-up ISP (Internet Services Provider) for internet access
• Technical support and services on provided equipment and software, as necessary to perform Board duties. We do not provide support or software for personal equipment.

2. Supplies:

• Business cards
• Luggage carrier (for handling agendas, BOR only)
• Paper, ink, and printer/fax supplies for LACERA-provided equipment
• Telephone calling card
• Secure file storage containers