Hire we expect two more within a media or two and we expect several more after that we could have 5 or 6 or 7 in 6 months did fellow if you recall was to build internal expertise for a 20 billion plan and staff level curling less than 10 that is spates for most of our peers you may roll call with calpers have 175 billion but the staff are one and 50 and calpers is a multiple of that east even at 22 were approaching an amateur relate scale to our peers in sacramento based on size regarding an update on the search weve held oust bob eunice and myself held 0ig9 dlups for each the 4 finalist all 4 firms had the same exact amount of time weve addressing holding a second round of final interviews here added our site between april 13th next week and april 22nd and were conducting reference calls as many as consists of 5 per clients and 5 managers and 3 former clients so sums 13 references were being complete in our examination of the general consultant search we hope to have a recommendation from the board if not in may that concludes my presentation. No questions . From victor in the audience is she here and she is not we plan to interview her when we have more one to interview 2 to introduce you to wed like electro to have two or three but again, a wonderful person easy to work with kindhearted and tenacious with managers in terms of Due Diligence open up for Public Comment on item number 8. Seeing ill Close Public School thank you for the report please call item number 9. Thank you commissioner makras makras. The committee met oppose march 13 and reviewed and discussions several items youll receive and separate items on the calendar our interim director karen will be discussing those items and bringing us up to date and finally the Mission Statement our final statement will be today along with a recommendation to offer a loan program and next item will be to present to you a recommendation to replace the target date small cat manager at this time were recommending that replace that manager with the index fund that be a separate item and the last two items through the coming committee the presentation of the transition to the new third pastor mist and the implementation with that im going to turn it over to the manager to talk about those separately and call them separately and okay open up for Public Comment on item number 9. Commissioners mike San Francisco Police Officers Association Im speaking solely and explicit with the offering of loans to participants before the Deferred Compensation Committee and in favor and support of your adopting that loan program. Thank you. Well close Public Comment and call item number temple. 10. 10 action item review and approval for the Deferred Program Mission Statement. Good afternoon, commissioners karen Deputy Director on interim deferred compensation manager you have before you the proposed Mission Statement that i can tell you the Committee Members substantially drafted them themselves for your review and approval i also note in the package before us was an stem from commissioner meiberger related to that and now i im going to turn it over to all of you for questions. Great, thank you the chair will entertain a motion of adoption. Second and do you wish to speak to it commissioner meiberger. This was the mission attempt lets put it on the table so the one on the table is the committees as follows i look smarter with glaze our mandate is simple to return a Retirement Program with combrn education that allows the participates to get their retirement goals it was suggested and proposed by the committee. The committee did yes. Did you want i had another one can i put it on the table ill ask you for auditors. No. We have a motion on the table well look at another motion separately. Through the chair if you could tells you. Speak to the motion please. I will speak to the motion commissioner meiberger, the committee spent a considerable in the amount deliberating over this Mission Satellite and we evidentially the Mission Statement should be something that shortness reap and the participants can understand and articulate it when you start drafting volumes of boxes and photographs for participants my view and along the the committee do they embrace and understand it and articulate what the commission and what our values are and given where we are today, we feel this is something that all participants will not and congregates and articulate it and building in what is going on as to what opinion is. The committee vetoed it and feels comfortable. We dlebd on it and we met several times this is not the first draft. Okay. Very good ill support that. Commissioner driscoll. One thing this statement is trying to capture because we felt that if theres a volunteer program were responsible for the programs and were thinking from a holistic or trying to represent the mayor how the future retirement goals were trying to tie the programs together it is complimentary for the staff the is suicides and the Health Services so if you want the employee to that whether this is a good retirement this is simple and it is very important lets keep it simple. Thank you both for you information. Ill open up for Public Comment on item 10 seeing all in favor, say i. It passes unanimously thank you item 11 please. The recommendation for the inaudible inaudible . Thank you, commissioners this item is opposes. So q m a is the ink3wu7b9 manager. Replaces them with van guard. Can you use one word sentences thank you very much. A recommendation. Excuse me. Id like to make a recommendation for an entertainer. Id like to open up for Public Comment for item 11 seeing none, all in favor, say i. Of adoption i. Passes unanimously item 12 please. Action item review and
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