Owosso Employee's Retirement System Agenda

March 18, 2004 - 8:00am

AGENDA

CALL MEETING TO ORDER:

APPROVE MINUTES OF DECEMBER 18, 2003 REGULAR MEETING:

APPROVE PENSION CHECK REPORTS:

Ø      December 2003             $84,681.03

Ø      January 2004                $85,176.42

Ø      February 2004              $85,176.42

APPROVE STATEMENTS:

Ø      Chemical Bank and Trust Company

December 2003-February 2004

Ø      Fifth Third Bank

      December 2003-January 2004

Ø      Tom Johnson Investment Management, Inc.

Ø      Period ending 12/31/03

PAYMENT AUTHORIZATIONS:

Ø      Chemical Bank and Trust Company

Management Fee

For Period 12/01/03 through 02/28/04                 $7,998.00

Ø      Fifth Third Bank

Management Fee

For Period 10/01/03 through 12/31/03                 $9,338.10

Ø      Tom Johnson Investment Management, Inc.

            Management Fee

            For Period 10/01/03 through 12/31/03                 $9,119.34

COMMUNICATIONS:

Ø      Ronald J. Tobey, City Treasurer – Report of Checks Written

Ø      Sandra W. Rodwan, Rodwan and Nichols Consulting Company – Announcement regarding Denise Jones

Ø      MAPERS 2004 Pre-Conference Information

Ø      MAPERS Pension Scope – Winter 2003 Newsletter

The following publications and conference announcements are on file with the City Clerk – if you would like to read them, please contact her:

Ø      Gabriel, Roeder, Smith & Company- December 2003-February 2004 News Scan

Ø      Boston Partners Quarterly Review – Third Quarter 2003

Ø      Thomson Financial Research

Ø      TJIM Quarterly Insight – 4^th Quarter 2003

Ø      Miscellaneous Conference Announcements

OLD BUSINESS:

NEW BUSINESS:

Ø      Request for Checking Account at Chemical Bank

Ø      Request for Direction – Retirement Ordinance Section 2-427 A Post-Retirement Benefit Increase

Ø      Request for Transfer of Funds to MERS – Larry Arbogast

Ø      Discussion:  Fifth Third Bank representatives regarding investment policy and where small cap/international funds should be.

INVESTMENT MANAGERS REPORT:

Ø      Merrill-Lynch:  Status Update on Custodial Account Transfer

Ø      Merrill-Lynch:  Fourth Quarter 2003 Executive Summary Repor

SET NEXT BOARD MEETING:  June 17, 2004

ADJOURNMENT: