by commissioner casciato. seconded by commissioner chu.e'll open it up for public comment for this item. seeing no members of the public that would like to comment on this item, we'll close public comment. can we take this item without objection? item number 15 passes. item number 16. >> clerk: item number 16, action item. review and adoption of july 1, 2018 actuarial evaluation report, presentation of employer contribution rate stress test projection. >> we have bill hallmark and ann harbor to present you the key results. >> good afternoon. we're going to run through the highlights of the results, talk about what the key changes were in the last year, and then, take a look going forward. on side 2, the chart shows last year's contribution rates compared to this year's contribution rates, and you can see that the average member rates stays about the same, and the employer rate goes up from 23.3% to 25.2%. the black line represents the normal cost. that's the expected costa tributed to the current year of service, and so -- cost attributed

there's a motion by commissioner casciato. were you seconding, commissioner bridges? >> commissioner bridges: i will second it, but i had a quick question. >> president stansbury: so we have a second by commissioner bridges. open up for discussion, please. >> commissioner bridges: so besides what you've outlined in here, were any major failures by iss and the services they provided in the past? i know we've been there a long time. i'm familiar with both firms, nothing against glass lewis, i'm just curious about it. >> no. it was a very competitive process. we've been satisfied with the services iss has provided, and i think as we outlined in the memo, we were confident that either firm could deliver the services we needed. >> commissioner bridges: i agree, and glass lewis is a very good local firm. i would agree with that, as well, so i'm familiar with both firms, just curious, that's all. >> president stansbury: okay, great. why don't we open up for public comment. any members of the public that would like to address the commission regarding this item? seeing none, w

. >> president stansbury: a motion by commissioner casciato, seconded by commissioner bridges.ny discussion? can we take this item without objection? item passes. thank you very much. item no. 6, please. >> clerk: item no. 6, action item, consent calendar. >> president stansbury: any members of the public that would like to address the commission regarding the consent calendar? seeing none, we will close public comment. is there a motion on the floor? >> i move to approve. >> president stansbury: motion by commissioner casciato, seconded by commissioner chu. any discussion? can we take this item without objection? item passes, thank you very much. item no. 7. >> clerk: discussion item, report on investment performance for the retirement fund for the quarter ended december 31, 2018. >> very good, members, allen martin has an update for performance of the various quarters and calendar year end in december. allen, if you make comment, kirk will guide the monitor. >> given the lateness of the day, i'll try to keep this to six pages. this is a report for 12-31. since that time, the

. >> commissioner casciato. >> can i ask that in the interests of time, the remaining items that are informational in nature be adopted as submitted, and that we hear from the executive director as the last item? >> let's finish this item, and then, we'll work through them. >> okay. why don't we open it up to public comment. are there any members of the public that would like to address the commission on this item? seeing none, we'll close public comment. thank you. mr. coaker, just one question. when are we going to see the absolute report? >> march. >> yeah, complete report in march. >> okay. thank you. okay. so that was item number ten. thank you very much. why don't we call items 11 and 12 together. [inaudible] >> -- investment performance through second half of 2018, and item 12, discussion item, sfpcp manager report. >> i think we can take these items as submitted. >> we want to talk about the great work. >> thank you very much for the report. is there any high points that you want to hit within a brief amount of time? >> yes, certainly. the -- the semiannual performance of the