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General Employee Retirement System Commission Minutes
October 30, 2012 | Retirement Board Minutes

A Regular Meeting of the General Employees Retirement System Commission was held on October 30, 2012 at 8:00 a.m.

Present on Roll Call: Commissioners Marty West, Kevin Broderick (via phone conference), Michele Eickhorst and Scott Homminga.

Those Absent Were: Commissioner Louis Theros (Commissioner Theros later arrived at
8:10 a.m.

Also Present: Shane L. Reeside, City Manager/City Clerk
John Lamerato, City Controller/Treasurer
Pamela Baker, Deputy City Clerk

MINUTES

It was moved by Commissioner West and supported by Commissioner Homminga that the Minutes of the Meeting which was held on July 24, 2012, be approved as submitted.

Unanimously Adopted

CONSENT AGENDA

It was moved by Commissioner West and supported by Commissioner Homminga that the following items from the Consent Agenda be approved:

a. Compensation for Services rendered by JP Morgan Trust for quarter ending September 30, 2012 in the amount of $9,316.83.

b. 2013 RETIREMENT BOARD SCHEDULE, AS FOLLOWS:

January 29, 2013 @ 8:00 a.m.
Board Meeting

April 30, 2013 @ 8:00 a.m.
Board Meeting

July 30, 2013 @ 8:00 a.m.
Board Meeting

October 29, 2013 @ 8:00 a.m.
Board Meeting

Unanimously Adopted

 

 


INVESTMENT REPORT – J.P. MORGAN

Communications Received:
1-Investment Report for quarter ended September 30, 2012.

Persons Addressing the Commission:
1-Mr. Michael M. Barry, Vice President.

Following a full discussion, the report was received by the Commission and placed on file.

INVESTMENT REPORTS – CLEARLY GULL ADVISORS, INC.

Communications Received:
1-Performance Report for quarter ended September 30, 2012, along with data
submitted at the meeting.

Persons Addressing the Commission:
1-Mr. Steven Perritt, Clearly Gull Advisors, Inc.

Following a full discussion, the report was received by the Commission and ordered placed on file.

REVIEW & RESTATEMENT OF RETIREMENT ORDINANCES

Communications Received:
1-Communication from Thomas C. Michaud, regarding the Firm’s Introduction, along
with attachments in response to the Retirement System’s request.

Following a discussion, it was moved by Commissioner West and supported by Commissioner Homminga that the hereby approve the request to engage the firm of Vanoverbeke, Michaud & Timmony, P.C. to review and restate the Retirement Ordinance to reflect current IRC provisions and amend language related to collective bargaining agreements, for an amount not to exceed $5,500.00 for both plans.

Unanimously Adopted

ADJOURNMENT

Upon proper motion made, supported and carried the Meeting adjourned at 8:45 a.m.


JOHN M. LAMERATO
RETIREMENT SYSTEMS ADMINISTRATOR

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