DEPARTMENT OF FIRE AND POLICE PENSIONS360 East Second Street, Suite 400

Los Angeles, CA 90012(213) 978-4550

REPORT TO THE BOARD OF FIRE AND POLICE PENSION COMMISSIONERS

AUGUST 16, 2007 ITEM: 12-A-2

FROM: ~ Michael A. Perez, General Manager

SUBJECT: TRAVEL AUTHORITY - GUNS & HOSES 2007 - SEPTEMBER 16-18, 2007,HUNTINGTON BEACH, CA

RECOMMENDA TION

That the Board authorize Commissioner Carter to attend the Guns & Hoses 2007 conferencefrom September 16-18,2007.

DISCUSSION

Commissioner Carter have expressed interest in participating in the following conference:

Conference:Sponsor:

Dates:Location:Mode of transportation:

BUDGET

Guns & Hoses 2007State Street Global Advisors, Cohen Milstein, Hausfeld & Toll,Scott + Scott, and Industry PartnersSeptember 16-18, 2007Huntington Beach, CAPersonal Vehicle

The proposed expenditures are consistent with the Board's Travel and Educational Policy.

Estimated cost for Commissioner Carter:RegistrationIncidentals (meals, gratuities, etc.)

$ 895$ 200

TOTAL $ 1095

Additional information regarding the conference is contained in the attached agenda.

·¥£tli OJ\{JwtJJoni C avezSecretary

MAP:JC

Attachment

~\i~HOT EDUCATION ISSUES:

• DB vs. DC sri II continues: I-Iear how one fund\I.,'cnr to DC. and has no\'.' returned to DB

• Understand what the.: fickle economymeans for your Assct Allocations

• Be able [() set up a rt.'imhursernenraccount to harde GASB 45

Reap Hedge Fund rewards withoutpurring Your hllld at ri~k

• Acquire the skills (or bener liSt' of the media forhath YOU and YOUR FUND

www.gunsandhoses.net

Protecting The Assets of America's Police & Firefighter Pension Funds Since 1992

w w w • 9 u n s a n d h o s e s • n e t

~fi:1)~i:sTUESDAY, SEPT. 18TH, 2007 • MAIN CONFERENCE DAY TWO

TRACK ONE: ' " "?

Trustee Fundamentalsi'---lEffective Communication and EducationIof your Board and Beneficiaries

.• Dc\'dop melhods to educ.ate your suiT

.• Influ('ncing ,he Board; what to tdl,hem and how 10 break the n~

.• Wh.or.' Joes your staff need to know?

•. lksr pr.a.nict'S in still education

Marry POllchaum. Municip.a.1 Fi,e' & Police Rc:tilTmcnl System of low.Thomas WehHer. City of San JoS(' Rerin'ment Spurn (THC)

.James SkJC'nar.Chainnan. Omaha Police ;,md !-ire Rt"tirement Fund

ItJ~ 0

j Investing in the Global Real Estate MarketI'" 'X'her(' Ih(' re••1('Slale marker is ,,>Jay and what doC's lhar me:!.n10 your in."csllllcnu?

i" Rr\'Il'"wthe po.,irivc rc!Urns other p('nsion funds ha\"e SITn .nd mlflllC ,hrlr .a.lJoc:'H1on slr;i1q~ies

.• Learn how to gel involn:d allhe lighl lime and indications Ih(' marktr i~lurnjn~

, Amm Ro~crs, .\1anaging Dirrrtor, Thc Tud.t'rrn.all GroupPt'It'r P.alandji.an, TrUJtt't', Belmont (~tA) Rt'lirt'mt'nl S)'llt'm

_ , ••. n ••• _ ••

lvlorning Nt'tu'orking RrrllA'

: 10:45 'iW-;;rkf~g;;i·ihth~·A~-~:··S~~~~fufF~d~4~-nttfTr.J~i~g·f~-;--~-Gr~~i~ Inf~~-t-~d~~~ Investing: Is it Ti~e to Get Involv~(fin,Trustees and Staff iYour Own Community?

• \'Vh;,11 is an aCluarialliabililY?• AOu,uial usumplions: delt'rminc whal they mean and how 10 ben use Ihcm• Kl")'.a.cTUni.aJterms for trus(ec.s

Wi/li.lm fornia, fSA. Smior Vier PmiMItt, AON Consulting! Public Sector Praclic('

I __ +- __' 4'" ••__ •__ ••.• n _ • ._ u. __ • •• __ •••• ,•• _ •• __ •• .~ __ ••• __ ••

, 1130 iEssential Training on Managing your Money Manager

lakC' coOlrol of your fund and your bo,ud; remembering thaI you .lre lhe boMunn how 10 rnd sprcadshetls and inconsiSlencies you should be looking forSdt"ct the rig,hl manager for YOUIfund TOkeep COSISlow and metl your re~uitemenrs .andr('S1ria ions

• Comider v,M'U 10 r.aiseyour late: of rcturn• Dues your fund really nCt"doUlside influence?

12:15

~. \'('irnC'~ IhC'IClurns mhC'rs h.ne sct."nIhrou{:.h infrasrru(fure invCSlmt'nhi. \'''t'it;hing.a ~ooJ invt'Mmenl projt"(1 from IhC'b;lJ,. finding Ihe righl deal for your Fund

• \X'inning ~lratl-gies 10 make infra~rrutturC' ••••.ork for you

; ~lark Sundt'rhust', Trwrrr. Fire & Polin' PC'mion '\.HtXi~lion ofC..olor.Jo

!Julia Bon.afcde. CfA, Srnior Mdnt1ging Dirm/Jr, Wilshire Consulting

i Da\'id Kerr, ."dllrwging Dirraor, Purtftlio Mannf.n, RREEF Infr;utruclun:'i ''Investing with a Conscience; The Rise of Social Investing

i. Inv('"~lmenloPlions Ih.1 bendil your communi~' and (\Iunll':"• FinJ op~l(ltIunilies Ih.al meet your f-und'~ philo~oph~'

.• RCVIl'Wwho has.a good plan in plaCe'and dl·vdop rnclhod~ 10 mirror Iheir ;lrpHJ;l~h'. Inht'rclll rislu fO be <lwareof and a\'oid

• St"llillg.a SociallnwSling pblform 10 YOU! board and hC'ndlciario

Donald Gervais. Vier Pmidmt, Goldm'ln, ~(h_\ A\\C'l Man.gC'mC'J)(

Lunch

1:15 -&pJ;;;; th~W-;;ld~t Alter;;-~ti;'e I';vestinglo- Pr~vid;th; ---------Tp~-;;t;.;i;;g-&P__;.;~idi;;g-r.;; Yo~; Fund: The Guide to HedgeBest Returns for your Fund ,Fund Allocation Strategies

2:00

Whal do you need 10 know .aboUIHedge Fundshrlore Ihe world of Printe Equi£)'Finding and cxploiling Ihe beSI relUrns\XlII.1 abOUIIhe risk? Plan 10 P'OlCl-1your fund and its returns

Gt'r.ald Garrell. Okbhoma Firefighltrs Ptnsion Retirement Board

I Kend.all Thomas. Auuin Police Retirement Syuem_. _. __ ._. • __ • • _ h. .h •. __ •• • •••

The Institutionalization of the Hedge Fund Industry

• Undcrsr.and Ihe importan<:c of Hedge funds for inslilutional investors• ThC' appeal of Ihe Hedge Funds; dctermine wh.al returns )'ou an expcci• l,.('un how Ht.JgC' funds can besl work for )'ou

TBC, RREEF Alternatives

Learn when anJ where 10 gel ill\'ol\'Cd• Explore lhe markel for Fund of funds and what bencfirs Ih~' can bring In you

'. Evaluale ~rr~ll'gies and ••lJocations: mt't"ting rour Fund'~ nC'ethand rCSlfiniom• The impo(uncc of due diligencC' .and how 10 ~l'l il .Iunl· dfl"Cri.•...e1y

1 Bill Bassin, Smior VIet'Pmidmt, lA:hm.n Brolhcr~

i;Come to Grips with th~ Ch~lIenges and Benefits of Cross Border

Investments

\Xnen ~hould rou sllike: Finding the ri~hl limel.ook .ardTcclive inve~tmenlS ~'our pt"e~ have m;ldl·Long IC'Tmsolulions offered by Ihe inlernalionallllarke;-l~Emergin~ arl'a~ 10 consider in your J.lIoc.aliom

Slacy BilJweJl, Louisi<ln<lFirefightC'fS

2045 Chairman's Closing RemarksRohbil' Roheruon, Profession ••1 Firefighters of Georgi.a

300

:Chairman's Closing RemarksEd Lujan, FilT .and Police Pension A~soci.lion of C..olorado (Rclirl'J)

With ovcr $450 Billion undcr managcmcnt combincd, thcsc arc just SOIlIC of thc funds" ho attcndcd Guns & Hoscs in thc past two ycars:

Partnerships, Sponsorships andExhibitionsAre yuu looking 10 ~olidify your repUialion in thep<'mion fund ma,kl't? UI us help you position )'our

nllnpJ.ny .a..\an indmllY kadel Ihrough olle of our~p'-ln.\orship npp'-lTlllllilies. \X'e will work wilh )'ou 10

I.ilor J. markcting campaign (0 meel rour objeClivcsand highlighl rou in from of Ihe audiencC' ~~clHial10 ~'our fmurt' bmine~~.

WhySponsor Guns & Hoses?ExrO~Ult· to our audience whith ll'pre~enls over$450 Billion in wmbincd a.ssct~undl'rmanagl'mt'nl

Exdmive 0ppolfunilic.5 to cuslOmiu: an eventgt·.arniro rOil 1 tdrgl'll'd audience

UnparalJdClI ;lnt'!>~10 IlUSICeSfrol1l mote publicSaft'l)' pCfl!>ionfund~ Ihan.al .anr OIht."rl-vcnl

For more information on clislOmizcJ ~ponsor~hipoppotlunilin, plt':l.!>l'(OllianTerri Gr.bt"t:1{ 212·66J·3500 ext. 3127 or19rah("r(.,)iirusa.com,

For infOlIil;ltion on nhihiling al Gun~ & Ho~es.,plea~e:UllllaCI JefT Dubs. al 2J2·6()1·3500 ext. 308201 jdllb~@liim~.:iI.com

Anchor.:ilgePolicC'& fi n: l.!.c.• Ii remenrA rk.1nsasFi n' Police Pension

Peview BoardAssocialed Fi rdif,hters of IllinoisAdan!a Policea~ Pension fundAUSlin Police RL- I i tmUlI ~'uC'mBayCiry Police & nrf'Pc.,tiremrnlBirrningh<lm fi n:mm & I'olic.(' FundBoulder Fi ~MI'PPC,If'ERSCh:ufanoog.a Fi rC<lndPoliCe'J'C'nsionCity of Adanl.a. fi re(j~blo Pension FundCity of Austin Polic(' I~"I i rmuu SYSIemCiry of Dan but)'Ciry ofDt." 1 roi, Rt-I i rcrl"lln ~'5temCil)' ofFlim Re t i rcrnenl D:p.a.rrml'nlCity ofFon Meyers filt'[:\-patlmenfCil)' of Fori \'\10 nh 1~'lirernall fu ndCity of FresnoCity of Liltle RockCityof:\tiamiCity of!\.lohilC'CiryofNt'wllawnCity ofOJ.klanJCilY ofOrl.anJo 1\·n.\ionrunJCin' of Panama CityCit), of Pas.adena Fi reand I'oliccCit)· of Phoenix Police PrTlSionBoard

Ciry ufSan Diego Employeo Pc.:-liremenlCil}' of San Jose Fcderaled R:liretllt'nlCiry of Somerville Rei i rancol BoarJCit)' ofT.amp:!. Fi I't" and PoliceCif}' ofTwcaloosa PcnsionReliC'fD~lbs Police & Fi IT:PensionSyslemFJ r.~o Police & Fi rePension FundFi n-Pension RdiC'f Fund New OrlC'ansFi rttnt'll &'1 i ranC'nr Sp.tem of SI. [..ouisFulton Counry Rc I i r01lt'n ~'s(t'mIta r;'e)' Polict' Pension and

~'Iif'l'menl FUllliHOUSIOliFi rdlghtcrs Relief & Ibift:menlHOUSlOn!\tunkipal EMPY Pension}~ov.'ardCounl}' ~l.a rybndII/inoi~ Public Pe;-!l.-.ionFu n dImpcri.al County F.mplo:-U'

H..·lill11)("J1SY~lemJad.sonvil!C' Fi rc & "olice Pl'osionKern Counl}' fmployees

Pc.. tin ..menl AssocialionI.u~hock fi IT:Pension Fund~tarin Count)' Employ\.'l~

R·,iH'IJX-'IISYlolcmMiami fi rcfi~tcrs and Police PelircmenlMinnt'apolis Police Relief Ass.oci.lionMinnewta SUtr Board of In~·SfmC'ruMODOr and P.ll nl Rct i nmenl Syslem

Muni Fi reand Polio..Jt:.lirt'menlSyslem IowaNew Hlmpshin:P4'lirtl'llC'1l1 S:'~ll'mNJ Profe~,\ional fi Il'Fll!,hH'tsNY $r.a.leTe.acht"f5Pot· I i rnnem Spl emOhio Highw:.oyPalrol ~·t ircrn.nl ~'~lemOkhhom;a FiR"fif,hlrfSOmah;a PoIJC('and fi 11;' R..' I i lll'1lC'ntfundOnllf,e Coun!)' fmplo)'l"CsRcfin ..mt"nlParkRiJge Police )lC'mionrundPoliCC'Re I i rant"nt SplCtn of SI. l.(lui~I'ornp.ano Heath Polin' ami ri IT

Princ(' William COlllllYVirginiaProfessional Firdig'llC'f5 of GAPuhlic FmploYl'C'SRL- t i rcrncrw of NMSan Anronio fi rc &: PoJja P("n~ion FundSan Bt-rnanino Fmployee

~I i nmt'1ll A\sclCi;alionSan Diego City F.mploYl't'P.o.' 1 i nmt"nl SystC'tIlSan JOM'Ci(~' I?c .• I i lUnt'n1£:on'icesSpringfielJ fi remen'~ !'e"-,ion FundSunrise Fi refighll'rs Petlloionfu IId'lexl'ERSViall R",.I i nmem ~'Ht'lm

\X't'MP.alm Be.ach Police Pe:mion fund\X'V In yeltment M~nagcmenl Board

6 To Register, Call 888.670.8200 Fax 941.365.2507 Email register@iirusa.com Web www.gunsandhoses.net

SUNDAY, SEPT. 16TH, 2007 • PRE-CONFERENCE WORKSHOPS

Workshop One

Trustee Fundamentals: Become your funds"Prudent Expert"New Trustee Requirements and Expectations

7:45 RrgiuTarionftr 'Workshop Onr

R:15 Workshop Commrnus

Whether you are OJ new trustee or need a refresher cour!>!:, thi~ in-depth worbhopwill take you step by step through.all you need to know to beSt represent yourbeneficiaries. Exp.;md your own c:-ducuion so you can better instruct and manageyour own stdff and those you represent. Come away with a full undentanding of

• Define the role of the TruSTce

• In\'~[illg o"erview: key (erms you need to know and what they mean• Tht' key aSSt"1 classes; delve into various assets and determine how to USe.' them to

get the best ft"lurns• Being the boss; how to manage and educate your staff and beneficiaries• Team managing. gening your team ro work fOf you!

John Keant:. Jacksonville Fire and Police Pension Fund

Lt. Bobby Deal. Jack.o.onville Fire and Police Pension Fund

10; 15 U7orkJhopOnr Condudn

Workshop Two

Actuarial and Litigation 101Cut through the jargon and set up your star teamto support your fund.

10;30 'Workshop CommmaJ

Acruarials and Law)'er~ are t'\'eryday fixtures in the life of the Trustee. As a new comt"f10 the market, )'ou need 10 have a full understand of their roles in your fund andlearn what it is Ihe)' can provide for pm. Having the righl staff in place is paramountand essential to providing the beSt service 10 your beneficiaries. lbis comprehensiveworkshop takes you through all you nt't'd to know to use )'our actuarial and anorneyto the besl of your ability.

David R. Scolt, bq .. Co-rounda, jWan'lging Parma, SCUll & Scott lLP

12:30 Lunch for WorkJhop ArunduJ

This session is a musl aI/end 10 emu", your fund hl1JIhe BEST team.

SUNDAY, SEPT. 16TH, 2007 • MAIN CONFERENCE DAY ONEi2J)() RrgUrratJon fir Main Conftrrncr

LOO Chairmen's WelcomeRohbie Roberl.\on, Professional Firefighlers of Georgiil (Retired)Ed Lujan, }'ire ,md Police Pension Auociiltion of Colorado (Retired)

1015 The Global War on Terror and Its Implication for PublicSafety OfficialsGener;ol COImlOck headed up the Arm)' Reserve and is curn:nd)' ,he Ch;oirmiln of lht· 1\.1ilil.".l.ry;om!Velerans Commillee for Ihe Badge of Honor Memorial Fund. Using material spt-cillca.llyprepared fOl ,ta' Gcneral by Ihl' Depa.nmem of Defeme. this unique anJ timely se!»ion willlook al Ihe glob •.1war on lerror dnJ ils special implicalions for public ufelY prof('~i()n.&I5.

James \X!Comsl()(k. MajoT Gf'nt'raL AlJ5 (Relired)

1045 State of the Pension Fund Market 2007• Manage your crnts; why pension fund CO!>ISare going up and 110.•••· you comhaf lilt'if illlpaci• Dt·\'dop a !to\'d funding mechanism 10 plan ah,'ad and hud~l'l accordingly• Sl'l up J. ~labiliz:Hion reserve aCCOUlll1Okeep COSISin check• How willlhang.es in \'\'iI~hing.lOnimpaCt rour fund?

Thomil~ Cilmanella, New Jt::rseyProfessional FirefightersLieuH:nanr I't'U' Morin. Austin I)ulicl' Retiremenl Spurn

2,15 KEYNOTE PRESENTATION:Is the Economy Headed Higher - or Off a Cliff -What does this bode for YOUR fund?The go-go days of thl' 199010lurned imo IhC'~u-ha(kwOlHls..lap of the 2000's, \XThat'snext?How will China's r:xplo..ti\"t'gro .•••.•h .s.h•.kt' up hu.tiness? How will Ben Bern.mk..- ke..-pIheeconomy «·covering? Todd Buchholz, who led Ihe W'hitl' Hou1oe'sNational Energy Slrar..-gy,will help rou figuCt,OUIwht:rht'r OPEC wlJl rigillen lhe energy noo~e again. I.earn how the'\cissors l-conollly" opcm up new bu1oine~ ilnJ ill\'CSllnenr opporlunilit~. '1()Ja)' mighl be Ihevery b~l-or tht' \'ery wont-lime 10 finance;o IO:iTl.By "connecting lhe dolS" oflhe worlJl'conomy. Todd Bu(hhol1 will help you dc\'e1op a rimely vision for Ihe ('conomy and the srockmarket.

Todd Bu<:hholzA form.., dirt'Ctor ofl't"on01?l'c polu)' oJ( thr lflhiu 1/01L''', a mandging dirrrlor ofthl" $15 billion

1ig,., hrdgt' fund, and ,In .,ward-winning rrunomin trach,., at lIJTf"1rti. '\lr. Buchholz laTgrtJ hiJ

rrff/llrkJ to (h,. nlltlng tdgr of £wnomln, fin,mer, dnd h, •.,inns Jtrauf,}. II, 11m brf'n d un/OT

NonomlC adl"isrr to Prr.<itk,nt flu ..•h and i.! II firquo1t wmm,.ntator on ARC A'nvs, PHS, and CBS,

and rremr!) ho!trd his (lu'n spl'cial on Cl\'RC JI,. 0 rufimndn of Two Oct'am .\,farwgrmmr. IJC,\1r. Rltrhholz h.1..'J/flhorrd nmnrrow hookJ, In ,\foiJ 2(}()7, tu'O nfU' h()()k.l hit thl' sht'lvl"J

Jimllltanl'oUJIy: J\'£u' ItUIlJ from D,ad CEOs and a fmanrinl thrilkr, 71" ClJtro Grnr. His prior

books incbuu J\larkrt Simck: 9 Eco'lOmir Imd SocuII Uphral'ab that Will SlhJ/u Our Financial

FutuTr, /I.'£U! IdrllJ from D,ad uonomisls, From 1/", To Economy a"d BTinging Ihr Jobs

I/om,

1ft' hu.. pmnl'd arlir!r) for tht' Nrw YOTk Timl's, \f'all S'Trrt Journal. Forbn, and RratkTs Dig"t.

JI,. hu.r Il'cnnrd at tlit' \r'hiu J-Imi..'t' find fu. han.1 Nt')'nmr Jpt'aka hrforr lB.\{, Citlb,mk and tht'

u.s. Chdmbrr ofLommna. Hr I.' oleo a w-produur ofthr Bro.uiIl'<L..1"smtlJh hitJtTJi') &..ys

Rrfor, joining Tig.·r In 1996, ;\Ir. HiIC},l.O!:: 14',1..'I"'md~nt ofth" (;7 GrOll!, Inc. From /989 to

1992 hr Jawd at tI,l' U"hlt( flou.'l' a..' oJ D,rrclorfor EconomIc Poliry ,\-Ir. Buchholz won thr AU)"

}uung Traching PTl:,r at HarthJrd Mr. B ••chholz htJfd.• .u/vancl'd tkgrm in l'conomio and ww.from

Glmbridgr and IIdTvard and hold .• .\n·nal.'ngln ••rnng and cUJfp1 paunts,

Afternoon NetworkingGuns & Hoses 2007 offers the unique opportunity for public safety pension fund leaders and their advisors

to continue discussing the important topics introduced during the conference sessions in more relaxed settings.Don't miss these crucial conversations about key issues facing public safety funds today.

3:30Guns & Hoses Beach Volleyball Round RobinAI Ihe condu~ion of day one, please join us on the heach for the Gum & Hoses Bt'alhVolkyball RounJ Robin, You .•••.ill nOi want to miss Ihis chance 10 gel 10 know yourfello.•••.1n1SlC1:'Swhile playing volleyball on heauliful HUnlingtOn Beach. NOI a "olley,ball plaYl'r?Enjoy burgers and hOldup ;ond Ihe beauliful s:md and sun .•••.hile warchingtl';olllScompele in a round robin f{)utnamelll.

We arc thrilled to wclromt the US ~/omen's Beach Volleyball Team 10 Guns &

Hosts! Come early 10 the volll'yhalliourn;omeni ;osyou .•••.ill rt'cciw special imrruClionsfrom some of lhe Je:l.Jing players in ,he US, The It;'amwill ~how )'otllhc propn way 10

serye and 10 spike ;ondwill be on hand 10 call1ine..~ilnJ sign ;oulOgraphsduring Iheround rohin rournaJl1enl.

We .•••.ill be limilt'J 10 8 learns of 4, You mOl)'tegister as a tea.m or individually. PI;oyt'f~must be r('gislt'reJ by August 1.'01,2007. PIl"aM'sign Up;ol www.guOS.;UlJhoses.nel orem;oiljOlOnk@,iieus:i,com. Even if you Jon'l pI,,)' \"olleyba.lI.Ihis is a geeal opporrunity10 (ome OUIand gel to know OIher Gum & HoM's allendcrs. Prius will be awarJtJ forIht' winning tcam!

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6:00Guns & HosesWelcome Happy HourPleaM'join us for .•••.e1coming c(}(ktailsfollo'willl;.the Volleyb:ill RounJ Robinrourn;;/nt·nl. Don'l forgel 10 hring alongyour husiness carill~

i :00 IJa)' Onl' Conr/,.drs

4 To Register. Call 888.670.8200 Fax 941.365.2507 Email register@iirusa.eom Web www.gunsandhoses.net

Rising hcalthcarc (osts, funding gaps, litigation. Today's plan sponsorrepresentative is plagued on all sides by challenges and ohstades. Luckily, Guns &Hoses, the most Husled name in public safet}' pension fund education, is here tohelp guide you through the pension fund landmines and help you best protectyour fund, your beneficiaries, your board and your own reputation.

\XThethcr you arc ncw to the tfUstC(' role- or an experienced fund representative,Guns & Hoses is the must attend e\Tnt for the public safety pension market. \'V'ithdual tracks to m('et both fundamental and advanced needs, th(' 2007 Guns &Hoses program has been cOllSHuCled with you, the trustee, in mind_ Guns &

Hoses features timely, in-depth sessions focused on the mosl critical puhlic safet)'trustee issues of thc dar, including:

New Healthcare accounting standards and solUlions

The hallie for defined bcnefiu and why )'ou cannot stop fighting

Control escalating pension costs by exploring pre~funding options

Managing the media lO prot('ct your imagl" and that of your fund

Experienced trustees ,viII come away with applicable allocation strategies fromour advanced in\'ntment strategies. Familiarize your funds [0 th(' hnucst areas ofthe market tod.1)' including:

. Hedge Funds' Glohal Real Dial" .• Socially Responsible Jnvcstmcnt~ • Infrastructure·

Recently elected trustees will gain tl1(' c~scntial knowkJge 10 best serve dKir

beneficiaries. Jump into your new role armed with the rools and ammunition toprovide expert represl"ntJtion, including:

Trawler of the Trusu'(', make a smooth transition to your new role

Develop methods to eduGHe rour staff, board and heneficiaries

Effective managem('fll skills to handle your mom')' manager and your actuary

An understanding of the alternative investment markets with a specific focuson the onen times intimidating Hedge Fund sector

Featured Sessions:Keynote Presentation: Is the Economy Headed Higher - or OITa CliillTodd Buchhol1 .• former director of ('conomic polic)' at the \'Chite House,managing dircClor of the $15 billion Tiger hedge fund .md award-winningHarvard economics tcacher. will help you develop a timely \'ision for the economyand the srock markcr. Learn how China's explosive growth is shaking lip businessand how Ben Rcrnanke will kn·p the economy rcco\'ning. Find OUt whal's rIn[

on the ('(onomie horiwn.

OMERS Case Study: Restructuring the fund and bringing operationsin-house for increased returns: How Fire & Police accomplished thistogetherJoin Bruce !\.1iller and Fred LeBlanc as they discuss how the Police Association ofOntario and the Ontario Professional Firefighters ,\\sociation were able to changetheir pension plan to benefit their members. Learn how )'ou can follow theirmodel to cm costS and increase returns.

As a trustee, the 2007 Guns & Hoses is one cyent you cannot afford to miss. Wehave recruited mor~ leading pension fund represcntatives 10 prescnt their expertadvice than ever before. With this many of the leading funds on the program, youare sure to gain more valuable information than at any other plan sponsorconference.

The Guns & Hoses t('am recognizes the importance of spending time getting (Q

know your fcllow trustees around the country. W," :lr" commiued to building thepublic safety fund community and ha\'e consuuct("d ample time for you to get toknow fellow trustees and share your experiences, sllccesses and best practices_Unlike Olher events, we do not only have cocktail receptions but snucmredactivities that encourage team building. Look at some of the events we have builtinto this year's program:

The GUllS & Hoses Volleyball Round Robin Tournament - Join us on theheaeh Sunday, Sep •. 16lh [or hamhurg"", hOldog' and volle}"hall! This nOIto miss{'d e"cm will feature members of the US Women's Beach VolleyballTC3m who will be on hand to afTer instruction.

The Guns & Hoses Reach Olympics: Cops vs. FireOll"n - following theconference sessions on Monday, we will reconvene on the beach ,vhere you

will compete for the tide of Guns & Hoses Champion. \Vhcthcr you arc a

panicipam or a spectator, this promises to he a highlight of the event.

Plus, don't miss our expanded, breakfasts, luncheons and cocktail recep[jon -your b("st chance lO reflect on what you ha\T learnnl with your peers!

Keep checking www.gunsandhoses.net for more information on activities

Don't forget. HUlHinglOn Beach is a grcat place for the family. Please take a lookIhrough the resl of the brochure for morc activities and options for the family.Spouses arc welcome to join any of the networking events free of charge.

Knowledge, investment strategies and core principles of fiduciary responsibilityawait you at Cuns & Hoses. Visit us at www.gunsandhoses.net for moreinformation as it hecomes available. I can't wait to Sl'(' YOll in Huntington Beach inSeptember!

Best Regard!<i,

Jill Ozo\"Ck. Director, Guns & Hoses

To Register, Call 888.670.8200 Fax 941.365.2507 Email register@i1rusa.com Web www.gunsandhoses.net

About the Hotel:

Investment Consultants:DirectorsManage:rsI'rincip31s

Healthearcl BenefitsConsultants:

PartnersManaging PartnersDireCtorsAssociates

Major Nearby Auractions:Disneyland Resort

Knott'1o Berr)' FarmQut"t'll Mary Seaport

Sporu & Acrivili~:Meaduwlark Golf CourseIntC'rnational Surfing Must"umSurfl'''''' Hall of FameSurfers' '\X'alk of F.ame

In,'csrmcnt t-.1anagers:

PrincipalsPartnersManaging DirectorsConsultantsAssociate~

Relationship Manager.'>

Law Firms & ActuariM

Heaches:Bolsa Chica SUIt' Be:achDog BeachHUnlington City Be:3ch & PierBols:1 Chica Ecological Reser\'eHuntington Ce:ntral Park

Who should attend Guns & Hoses?

Don'[ miss all tbe attractions Huntington Beach halo to olTer includin{::

From Pension Funds:Both New and Ex~)("riencnlTrusteesAdministratorsExecutive DireCtorsCEO,PresidenlsBoard PresidentsChairmenVice Chairmen

Benefit Counsdor~

Huntington Beach, CA - A great place for the family.Huntington Beach was establi~hed in the late 1880s and rapidly ht"came known for its 8.5miles of unobstfllctt'd beaches. As the original Surf City USA. Huntington Beach boastsmyriad water and beach sports as well as a reputation as Ollt" of the safest cities in America.'Xfllether rOll art" looking for a relaJ(ing time on the beach with Ihe family or 18 challengingholes. Huntington Beach met"ts your every need.

Shopping:

5 Points Plon...JDowntown Huntington Beach

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The Hyan Regt'"ncr Huntjn~r(J1l BeachResort & Spa overlooks miles of sutHplashedbeaches along the: historic Pacific CoastHighway. The Hyatt Huntin~ton Beachoffers unri"aled al11c-oitin and services in anelegant seaside setting. With over 100,000square feet of mt'e[in~ space. Iht" Hyart is anideal location for any special event.Alditionally. with its ct'lmal location, youcan plan any number of excursions to a hostof Southern California's attractiollS.

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Pamper yourself with our Gum & limes I S% Pacific \X'atl'r .spa Jisf.:ount.Offering 17 treallllc:'1lt rooms, state-of-the-art filtless ct"lIter. fullst'rvin'salon and health food caft" wmplete with juice bar, the Hyatt RegencyHuntington Beach Resc>ft and Spa is dlt" uhimatt" retrt:at for the body andsoul. 70 rruir·r )'OU7 Spd discount mfntion J'Ou flU pari ofrhr Gum6- Hosrs Group.

cJIIJ)irJofrttrThe Huntington Beach Ocean Strand is the longest pan-'d boardwalkbetween Los Angeles and SJ.n Diego. Cruise this extraordinary ocean viewby bike or simply enjoy a H'<I ~iJe stroll. Rift' cru;ur biC)'cfn ctJnht' rmud right outJid,. rh,. h()u/ /lJbby.

6xp/orrHuntington Beach has more than 50 boutiques. shops and side'W:.dk c:lfes.as well as some of California'.'> widest b,·ach,·1o. \X'ant .'>orne time w your~elf?Find a nook of rour own on Ihe: bt'ach to take in all the actioll.

* Exclusive Discounts & Abundant Activitiesfor Guns & Hoses Spouses

e7?dax

~~ Institute/orInternational Research

July 13, 2007

Mr Mike CarterCommissionerLACCRS Fi("(. j. -Poll'(!'t" PtNSfexiS360 East 2nd StreetSuite 400Los Angeles CA 90012

Reference: U2201/777157

Dear Mike Carter,

Customer Service101 Arthur Andersen Parkway

Suite 100Sarasota, FL 34232

Thank you for choosing to attend Guns and Hoses 2007. As the world's largest provider of executivebusiness conferences, we are confident that you will benefit professionally from this opportunity to listen andnetwork with industry experts.

We would be appreciative if you would verify your details at the top of this letter. This information will beused on your badge and the attendance list. If there are any mistakes or misspellings, please correct theletter and fax it to 941-365-2507 or email register@iirusa.com so that we can adjust our records.

Attached are the details for your registration. Please review this information thoroughly as it contains all yourregistration time(s) and location(s).

If you have any questions regarding your selections or need additional information, please do not hesitate tocontact us at 888-670-8200. Please refer to your reference number U2201/777157.

Your invoice will be sent to the billing address specified at the time of registration.

Welcome to IIR. We look forward to seeing you at the event.

Sincerely,

Customer Service DepartmentEmail: register@iirusa.comPhone: 888-670-8200Fax: 941-365-2507

** YOUR FULL REGISTRATION DETAILS ARE ATTACHED **

~~ Institute forInternational Research

Booked Options:Title:Booking Reference:Venue:

Registration:

Option :Start :

Guns and Hoses 2007U2201/777157Hyatt Regency Huntington Beach Resort21500 Pacific Coast HighwayHuntington Beach CA 92648Please refer to the brochure or website based on your selections

C PS Conference OnlySeptember 16, 200713:15