ABOUT LACERA

OPERATIONS & OVERSIGHT COMMITTEE MINUTES 4-9-09

PRESENT

• Yves Chery, Chair
• Ed C. Morris, Vice Chair
• James P. Harris
• Sadonya Antebi, Alternate

ABSENT

• Edward L. Blecksmith

MEMBERS AT LARGE

• Les Robbins
• Simon S. Russin

STAFF, ADVISORS, PARTICIPANTS

• Robert Hill
• Fred Whiting
• James Pu

The meeting was called to order by Chairman Chery at 12:22 p.m.

1. APPOINTMENT OF VOTING MEMBER(S) IN THE EVENT ONE OR MORE REGULAR COMMITTEE MEMBERS ARE ABSENT

   The Chair appointed Miss Antebi a voting member of the Committee.

2. APPROVAL OF THE MINUTES OF THE REGULAR MEETING OF MARCH 5, 2009

A motion was made by Mr. Morris seconded by Mr. Harris, to approve the minutes of the regular meeting of March 5, 2009.

The motion passed unanimously.

3. FOR INFORMATION
   1. Purchase Updated Computer Workstations, Estimated $522,000, Including Sales Tax

      James Pu

      The majority of LACERA’s computer workstations are approximately seven years old. Due to their age, we experience an increase in both failure rates and compatibility problems with many new software applications. We deferred their replacement, planning only to proceed when Windows Vista was sufficiently mature for business. The workstations replacement was included as a contingency-funded organizational goal in the fiscal year 2008-2009 budget package. With recent updates to Windows Vista and newly supported security/network capabilities, the opportunity is here for this much-needed upgrade. Significant savings from the current year budget, along with uncommonly favorable pricing negotiated by staff, permits the purchase of these workstations without the need for contingent funding. We are mindful of the current economic challenges and the stresses they inflict on the fund. However, the budget savings coupled with discounted prices enable the purchase of these workstations with no funding beyond the current approved budget package. This buying opportunity, and the risks of outdated computers, present compelling reasons to proceed. To act as responsible fiduciaries, we will delay any action to the end of the current fiscal year, closely monitor the condition of the fund, and only proceed if it is fiscally prudent.

4. MISCELLANEOUS
5. PUBLIC COMMENT
6. GOOD OF THE ORDER (For discussion purposes only)
7. ADJOURNMENT

The Board of Retirement has adopted a policy permitting any member of the Board to attend a standing committee meeting open to the public. In the event five or more members of the Board of Retirement (including members appointed to the Committee) are in attendance, the meeting shall constitute a joint meeting of the Committee and the Board of Retirement. Members of the Board of Retirement who are not members of the Committee may attend and participate in a meeting of a Board Committee but may not vote on any matter discussed at the meeting. The only action the Committee may take at the meeting is approval of a recommendation to take further action at a subsequent meeting of the Board.

Documents distributed to members of the Committee less than 72 hours prior to the meeting will be available for public inspection at LACERA at the time they are distributed to a majority of the Committee, provided the documents are subject to public disclosure and relate to an open session of the Committee. Such documents may be viewed Monday through Friday during normal 9:00 a.m. to 5:00 p.m. business hours. LACERA is located at 300 N. Lake Avenue, Suite 820, Pasadena, California.

Persons requiring an alternative format of this agenda pursuant to Section 202 of the Americans with Disabilities Act of 1990 may request one by calling Cynthia Guider at (626)-564-6000, from 8:30 a.m. to 5:00 p.m. Monday through Friday, but no later than 48 hours prior to the time the meeting is to commence. Assistive Listening Devices are available upon request. American Sign Language (ASL) Interpreters are available with at least three (3) business days notice before the meeting date.