cola plans with the feature. >> i want to i understand eir regardless of the latitude an attractive pay bank but if we get to the one hundred percent pay out that requires a lot of for thought are we're going to wait until itors we talked about funding page 4 as the cola assumptions based on one hundred percent funding level and 2015 the zero is 2020 and that's the assumption. >> all the assumptions are calculating the gadsby by liability so in our funding evaluations we're assuming zero. >> right. right and so something we can going forward.

>> okay. so again it's a large group if it's combined with the basic cola group i'll stop with that. >> commissioner. >> i want to expand an commissioner driscal page 4 the probability so 2020.25 percent so the liability in cola. >> this isn't the probability but the toll amount that will be paid. >> and actually, i should correct it page 6 is the 2014 assumptions and page 4 were the 2013 so again in 2015 there would be zero and 2020 this would be the basis point costs of colas going forward. >> there's no probability per

say. >> that's it there's a probability but we take the probability and multiple it by the 1.5 percent the amount of supplemental cola for the majority of plan members most people get a certain amount so the probability multiples 1.5 percent. >> how would you do the probability. >> do the reserve math. >> okay. thank you. >> questions seeing none, chair will entertain a motion to accept the report. >> so moved. >> is there a second. >> second. >> decision seeing none, all in favor, say i. it passes unanimously thank you would you, please call item 15

>> item 15 discussion item and review of the campaign and this is - and under the san francisco campaign and conduct code offers of the 710 north are to file the statements of economic interests and leaving the office forms as part of the code our department has a specific list of employees and officers and as well as a reporting disclosure category and historically this is also included consultant but the consultant compliance with the form seven hundred fm there will require a filing with the department but sponsoric over the years so i have determined with the communication with the

city attorney's office this will be an embellishment requirement and letters will go out requiring the consultants to file their form seven hundred with us as immediately by the end of the year as well as on an annual basis what the law requires is that folks who are managing our consulting relationship pravrpd participating and making presentations for the board those are the folks that are required to file the form seven hundred i'll report back to the board the consultants we are looking at are the general consultant and advisory are real assets and approve entity consultants and torrey our

private equity assets reporting consultant and finally irony which is the boards actuary. >> i'll open up for public comment on item 12. >> seeing none, i'll close public comment open up for questions. >> dr. jewish the consultants once the form is filed it will be open for every member of the public to review as our seven hundred forms with the department or the ethnics commission. >> it only be required to be filed with the commission secretary and maintained in files here and as far as where they're a public document i believe they would be a public

document. >> subject to disclosure. >> whether he talk about the public document is it available on line or as we walk into the office in a binder. >> for commission members and the department head those go the the nithsd commission they put the seven hundred form online i don't believe the other depths do that for their staff and others who file directly with the department those are moipd directly at the department they were public recorded and can be requested introduce a public record process. >> we'll have the capacity to have them online as public documents. >> other questions. >> i have a question and maybe i've addressed that and i missed it for the consultant are we talking the individuals that comes up with us we're not

talking about the firm. >> for k iron and we have a new gentlemen gentleman that is a form seven hundred form as well but anyone who either managers the account or firm and participants in coming to recommendations or presenting recommends that's clearly defined in the code so that's where we're going it will be multiple folks for each the consulting. >> and in their case if they have one employer they'll have one entry angela. >> actually, two ann harper and leslie couch individually filing the 7 hundreds representing their relationships with the board. >> i'm trying to understand are

we are going we're going to receive one number from them are we seeing every client and portion of their salary how do that work. >> the filing of the individuals they'll have to dloe the same level 0 as commissioners i'm not familiar with the number they'll have to disclose but filing out the same seven hundred form you and i fill out with the department or the ethnics commission. >> i mean pleasing pled by one commission so i have one entry is their entry to be similar and laj la one line item is that what we are expecting or

additional information. >> i don't think so the one line item it's multiple disclosures. >> i understand the investments i'll talking about incomes. >> commissioner they have the same requirement disclose their income and guests the various columns i'll assume if you have a single employer our income is from that employer not reflected from the entire system their disclosing their only individual financial. >> that was what i was trying to get at. >> i think there's no more questions this is my understanding i'm not sure it's factual but the holdings in san francisco if you own something

new york you're not guaranteed to pet put it down. >> that's correct if someone lives out of the area that effects what real estate holders they have to disclosed there's specific reproduction for the forms seven hundred on the different categories. >> what are we to expect from our consultants form seven hundred based on them providing work in san francisco and san francisco county requirement is it going to encompass their residents or shop or should it be global because there maybe taking business from all over the state or nation and the conflict is not limited to san francisco like with the commissioner. >> they're to have to make the same disclosures that anyone

else will and some disclosures or geographically limited like real estate if someone lives and works in la they have rental income in la that will not be disclosed if they live and work in san francisco and have property in california it will be it didn't matter where you eastern it will be public but real estate is different. >> i'm accepting the documents as presented saying the reporting has been done spons sponsoric who is the reporting

mechanism for the tracking. >> i'd like is historically coordinated throw the secretary over the years and number of commission secretaries. >> is that what we are to expect. >> my letter is directing to send them to the secretary and i expect they'll present to the board. >> would we upload our rfp so have a conceptual i'm not with the law obviously the law has not been followed so there's a miss connect or several miss connects rps will include the campaign and governmental conduct code i chairs it as sponsoric but

consultants have remunerating filed and stopped filing in the last three or four years based on directs from staff here so i don't know what else to say we'll enforce it just as we make sure you all file everyday and make the requirement and the rfp we have that as a requirement as far as who individually according to who their assigning to the contract need to file it and intend to enforce that. >> thank you any other questions or comments we'll powerful on to item 16. >> this is the first quarter report for this budget year and we have a total travel

expenditures for the quarter of 3 of thousand accomplice we provided the detail of who has traveled and the expenses associated that travel we have a total travel budget of over $700,000 and so we not in line to be spending that however, we do anticipate that as we add investment staff the staff will devote their time traveling and we'll accept it as present opening it up for public comment to comment on 16 closing public comment questions from the staff seeing none, that concludes that item. >> call item 17 please. >> good afternoon. welcome to our new board room in case you

haven't notice we've engaged sftv to be here to record the board meeting on demand for the city television sfgovtv website that's a commitment we made to the budget committee in particular supervisor avalos at that time, we were considering the budget those will be available not trying to put this gentleman out of business (laughter) but available on sfgovtv an update open the move i'm glad to announced we're here we're glad you found our way for the size of the move it went relatively smoothly we closed our office on noon on friday and opened on monday we have customers that

were walking around boxes i'll thruway tlul we still have not received all the furniture especially in the reception area the furniture the fabric we selected is bag ordered and anticipate that over the next few weeks there's a lot of advantages to this space i've gotten positive feedback if the staff as well as the members if you have a chance stop by the fifth floor and is the reception don't just the furniture but we have consolidated the deferred complain to be next to other department and credential staff that has office so no need to go to the downtown office and if

you're lucky enough to want to talk to someone about retirement you'll notice the birth difference we had open you consulting now individualized offices people can go in and have a closed-door discussion related to their retirement and it can be done in complete confidence we're trying to get the air ducts fixed i told everyone i'll give you a board room with windows and as soon as we bring in sfgovtv they bring in blackout curtains it will defeat the purpose we have wide action going on to set set the quality of video it's important service we're providing this

will now be available to on the city's website i would like to say that part of this is we have taking into consideration we believe it is useful katie's suggestion i believe done in the past we have actual office location for with him and tran that are the deputy city attorneys and they're going to be conducting office hours here at our location to try to improve the working relationship with the working staff that's something we've been able to sort of leverage to our favor second item is we have conformed the board retreat for february 6th and 7 for 2015 this is a friday overcame and saturday friday session will start at 3:00 p.m. and go until 6 o'clock

and the president has invited us to his paul m. mahoney home for dinner the saturday on february 7th will start at 9:30 where we will have plenty of food and 3 o'clock or 3:30 we'll have lunch brought in this is a very important occasion we haven't had one for over two years actually so again, i will hope you protect those dates on your cleernd and expect to have a full calendar of speakers and important issues to be discussed the other point at the time i wrote this we weren't sure of the board meeting date but at 1 o'clock on december 3rd and it

will be a single item agenda to consider the recommendations related to the allocations and again, i will also report w0er78 here and available last wednesday at 8 o'clock p.m. for folks that haven't heard the special meeting and had an opportunity to meet with 3 commissioners and a retired members so 4 of our members spent about an hour with him and so just wanted to make sure that was officially discussed with that, i provided you a ford calendar as well as the report on educational opportunities with that, i'll be happy to answer questions. >> i'll open up phenomenon public comment on item 17 seeing none, i'll close public comment oh, your name for the

record please. >> the december thirds meeting is (inaudible) december 3rd meeting will be for the boards consideration for the allocation so a single item agenda regular meeting will be the second wednesday december 10th. >> questions? >> the board comes the same day wu. >> we originally had it schedule anothers 3 o'clock and the president making tush size we'll be finished i mean the

rules if you schedule it you can't start it any earlier. >> so the special at one and i understand we had deferred on the calendar. >> the additional to deter item one and finishing that business by two. >> we need to - we'll stay with 3 that's when it was originally scheduled. >> i have a question to the order. >> it, it's going to be in this order. >> now we have confirmed date we'll socializing looked at other location we looked at when we were looking for i think a rayy treat in october that is now passed it's important we really firm in those dates so we can start talking that will be within the city of san francisco

and board room. >> yes. i want to say on wednesday we had a discussion i wanted to follow up on publication in terms of risk 3 different publications on the first is standard mitigation and the hedge fund the second by harry this is the cf a the hedge fund it talks about things i haven't heard in terms of risks and by the h e.c. business school the risk and management service center the difficulties of risk of the hedge funds and cover the total risk i want to share those with you, you can respond through the analysis

we're saying that the risk is a subsequential publication. >> so i'll share those with you. >> we received those via e-mail this morning. >> anything else seeing no one. >> i'd like to make a comment i love the space and the community and staff it was difficult to move so my space is nice it's in front of of the station. >> very interests that this is the closest from muni to bart to the front door of the city. >> immediately in front. >> if you can make to the front. >> thank you. >> commissioners driscal. >> i know i'm not aware of you officially responding to the letter that s l u delivered by it but did you agree to meet

with representatives. >> the letter. >> you did you meet with u them. >> if the letter spifshg town halls we should be dealing with meagerly resident as the representative of the president of s c i u we we reached out to her inform june and she we made the offer we're available to meet with her to discuss the issues raised if the letter my understanding was she was actively involved in an election and successful in being elected to the board so she assured many cokeer she'll be available after a day of rest on november 5th so sort of restart the discussion but definitely after we received

the letter we were told specific to deal with marge resident and a conversation that we hope to continue. >> so all the commissioners on that i did give a responded a simple response back and due to the fact they've not met and do vafd any criticism that's specifically why i've asked did executive director to respond to the letter so i can pull it altogether and not get into people's schedule and not improperly responding before the vote takes place. >> so offers to meet were made. >> yes. >> so the materials that have been presented to us by staff mr. coke particularly were those turned over to her. >> they were public documents i

think they were provided directly to mr. young in particular and whether they read them or not is another issue they were voluminous and, yes access to all the material by staff. >> so show you we've made effort to address people i i know there are opportunities to meet at their requests we've been accused of proposalstizing i make the statement in the june meeting we have a duty to educate the madam clerk, any other business before this committee? members to see why we come to the recommendations i want to make sure that staff in their best efforts to the members to explain what we're doing and there are vacuums of information and actually on with an thing on the information that the issue

of urgent care to see was brought up when i talked about the non-traditional issues. >> commissioner myburg. >> if you will, i've been a educator for a long time one must communicate in the person asking the lawns there's a lot of eventual nuance things there's questions it makes sense to invite a response to questions rather than searching throw the volumes of information yes indeed the answer is in there someplace i'll concur that s c l u as well as all the members are due a response directly to the questions and that's what education it all about people ask questions and get answers process till's a repeating over and over and over

and over the same points and i think that is more disprescription so the members are due a response i concur they deserve a direct answer to the response as a educator one must communicate in the language of members i don't know the members know what sing a song full of the faith that the dark past has taught us, to say is those average member knows those are a higher risk. >> i want to reiterate we're doing what we or were asked to do reach out to marge resident young to start the discussion on the questions and as president mathsd indicated we're in the process

of providing the information and pointing out where the information is. >> thank you for your report. >> commissioners. >> i wanted to be at the board meeting left lane because the meeting what about here at the 8 o'clock for the meeting to meet and special meeting for 3. >> i'll keep it i'm not a fan of people talking meetings i think it's customer friendly to get the meeting set and not move the meeting by moving the deferred coming we're taking someone that people rely open over a 12 month incredibly i don't