Recent research has proposed having a die-stacked last-level cache (LLC) to overcome the memory wall. Lately, spin-transfer-torque random access memory (STT-RAM) caches have received attention, since they provide improved energy efficiency compared with DRAM caches. However, recently proposed STT-RAM cache architectures unnecessarily dissipate energy by fetching unneeded cache lines (CLs) into the row buffer (RB). In this paper, we propose a selective read policy for the STT-RAM which fetches those CLs into the RB that are likely to be reused. In addition, we propose a tags-update policy that reduces the number of STT-RAM writebacks. This reduces the number of reads/writes and thereby decreases the energy consumption. To reduce the latency penalty of our selective read policy, we propose the following performance optimizations: 1) an RB tags-bypass policy that reduces STT-RAM access latency; 2) an LLC data cache that stores the CLs that are likely to be used in the near future; 3) an address organization scheme that simultaneously reduces LLC access latency and miss rate; and 4) a tags-to-column mapping policy that improves access parallelism. For evaluation, we implement our proposed architecture in the Zesto simulator and run different combinations of SPEC2006 benchmarks on an eight-core system. We compare our approach with a recently proposed STT-RAM LLC with subarray parallelism support and show that our synergistic policies reduce the average LLC dynamic energy consumption by 75% and improve the system performance by 6.5%. Compared with the state-of-the-art DRAM LLC with subarray parallelism, our architecture reduces the LLC dynamic energy consumption by 82% and improves system performance by 6.8%.