The Retirement Board May Discuss and Take Action on the Following:

1. Pledge of Allegiance.
2. Accept comments from the public.
3. Approve minutes from the February 8, 2012 meeting.
   Presentation Material
4. Presentation from DLJ Real Estate Partners Fund V, L.P.
5. Consider and take possible action on staff recommendation for commitment to DLJ Real Estate Capital Partners V, L.P.
   Presentation Material
6. Presentation from GMO regarding the addition of Emerging Markets in the GMO International Equity Strategy.
7. Consider and take possible action on staff recommendation for the addition of Emerging Markets in the GMO International Equity Strategy.
   Presentation Material
8.  Review of total portfolio performance including:
   1. Consideration of any managers already under review or to be placed under review.
   2. Consideration of any changes in allocations to managers
9. Consider and take possible action to adopt the automatic cost-of-living increases for retirees effective April 1, 2012. Note: Revised to include Safety Tier C.
   Presentation Material
10. Miscellaneous
    1. Staff Report
    2. Outside Professionals’ Report
    3. Trustees’ comments