. >> commissioner driscal. >> where did they move the money from and please report that at the come on committee to share that with the full board. >> yes. i'd like to do that. >> great call item 12. >> actually - >> jen even though the services corridor it's been a long multi process and research project called for back in 2006, the research report was viewed and the engross draft and issued in june of 2012 we've got ann harper here to present this to the board and also have phil on the phone in washington, d.c. testifying to the academy i'd like to mentioned that bill was on the implementation committee for the gadz be standards and great reach for the board. >> bill can you hear us? >> that's a no. >> (laughter). >> bill try speaking. >> hi can you hear me. >> yes. >> some of us can. >> okay. so we're here to provide an overview of our report and answer questions you may have we have a slightly different format but briefing summarize the report and what it is used for and explain how it is comparing. >> this report is used four only accounting purposes there's a complete diversion f

driscal manager is he aware the situation that ms. lance sky raised. >> i'll follow-up on it. >> you'll follow-up on it? thank you >> you and i can talk off-line and we notified the board but as an interim since julia has left i've appointed karen by deputy director to cover the policy side we've asked maria newport to help out and cover the customer service center of the coming so if you have issues please refer them to maria or directly to karen or me. >> she's not. >> she's not. >> i think you've met her once when we did the strategy plan presentation i'll make sure she comes i want her to meet the board sure. >> anything else? mr. chair >> could you please call item number 8. >> good afternoon, commissioners karen deferred compensation manager i was going to do summarize the reasons for the replacement of the pimp could total fund but commissioner bridges did it much better the only thank or thing i'll add during the committee meeting there was a discussion of whether it might be pursuant to liquidate the assets before the novembe

the recruitment on our two - yes commissioner driscal >> still going on. >> i'll wait until our finished the recruitment for the other two position it is advancing and continuing its just time consuming process so i think one of the two most important things we do in addition a hiring managers we hire our team they're the ones that add value down the line we're being pursuant and thoughtful towards that regarding the current market we all took note i believe the market volatility and the quick snap back the end result we ended in the exact same place if one had not noticed over 6 weeks it would be been flat but it was noisy you up and down both ways i'll note what is beyond the report the job numbers the sheer number of job numbers creation has been good actually, the new jobs for the 12 months is the highest since 1999 quiet expressive that's good it brought the unemployment down the worrisome part it is the make up of the jobs a disproportionate of them are going to lower wage jobs so we're not seeing much in the way of job growth that led to more enduring and more confidence in enduri

. >> 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 altoget

commissioner bridges and commissioner driscal my burger and pass care jordan a quorum is present. >> okay. we'll up it up for general public comment i have a few speaker cards. >> i will start with this you can't mill deny. >> good afternoon board members i'm you can't mill denny work for laguna holding worked phenomenon the city for 20 years i've collected 3 hundred and 50 signatures of a petition from workers from laguna hydroand sf general they can't be here they are serving the patient and the message is we the city workers do not want to invest our pension in hedge funds whoever make that proposal needs to go and represent another institution because they does not represent our interests thank you. >> i have 3 hundred and 50. >> okay glen followed by fin is glen here? welco welcome. >> thank you, commissioners thank you, president i'm glen van lane a chapter president of the i cu for the chapter it's been four months since president is an letter of concern to the board in july we have no response i don't not understand why this has on a hang up for your folks under specific conc