Owosso Employee's Retirement System Agenda

June 17, 2004 - 8:00am

AMENDED
AGENDA

CALL MEETING TO ORDER:

APPROVE MINUTES OF MARCH 18, 2004 REGULAR MEETING:

APPROVE PENSION CHECK REPORTS:

·        March, 2004                                    $85,006.22

·        April, 2004                                      $85,412.13

·        May, 2004                                       $84,780.50

APPROVE STATEMENTS:

·        Chemical Bank and Trust Company
March-May, 2004

·        Fifth Third Bank
February-May, 2004

·        Tom Johnson Investment Management, Inc.
Period ending 03/31/04

PAYMENT AUTHORIZATIONS:

·        Fifth Third Bank

Administrative Fees

For Period ending 03/31/04                                            $6,572.22

·        Tom Johnson Investment Management, Inc.

            Management Fee

            For Period 01/01/04 through 03/31/04                             $9,115.07

·        Chemical Bank and Trust Company

Management Fee

For Period 03/01/04 through 05/31/2004                         $7,877.91

·        Gabriel, Roeder, Smith & Company

Actuarial Services for Fiscal Year 2003-2004                  $9,200.00

·        City of Owosso

Reimbursement for Audit Expenses                                 $4,200.00

COMMUNICATIONS:

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

·        Gail L. Schultz, City Clerk – General City Representatives (2) Election Results

·        William C. Brown, City Attorney – copy of communication to Kristi Tice, Fifth Third Bank regarding trading fees

·        2004 MAPERS Membership Directory

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

·        Gabriel, Roeder, Smith & Company – April News Scan

·        Tom Johnson Investment Management, Inc. 1^st Quarter 2004 Insight

·        Lerach, Couglin, Stoia & Robbins, LLP – Corporate Governance Bulletin

·        Government Finance Officers Association – A Primer on Early Retirement Incentives

·        Rodwan Consulting Company – Service brochure

·        Miscellaneous Conference Announcements

OLD BUSINESS:

NEW BUSINESS:

·        Adopt 2004-2005 Budget - $8,300.00

·        Consideration of Interest Rate (5%) on Employee Contributions

·        Request for Transfer of Funds to MERS – Jon D. Cecil

·        Application for Retirement:  John L. Kenney (effective 05-23-2004)

·        2003 Summary Annual Report and List of Expenses Paid by Soft Dollars Report

·        Gabriel, Roeder, Smith & Company – Presentation of 2003 Annual Report

INVESTMENT MANAGERS REPORT:

·        Fifth Third Bank – Management Review Report by Brian Lee

·        Fifth Third Bank – Discussion related to Transaction Costs associated with Trading

·        Merrill-Lynch:  First Quarter 2004 Executive Summary Report

SET NEXT BOARD MEETING:  September 16, 2004

ADJOURNMENT: