Owosso Employee's Retirement System Agenda

December 16, 2004 - 8:00am

CALL MEETING TO ORDER:

APPROVE MINUTES OF SEPTEMBER 16, 2004 REGULAR MEETING:

APPROVE MINUTES OF OCTOBER 14, 2004 ORGANIZATIONAL MEETING:

APPROVE PENSION CHECK REPORTS:

·        September, 2004                             $88,278.68

·        October, 2004                                 $88,278.68

·        November, 2004                              $88,278.68

APPROVE STATEMENTS:

·        Chemical Bank and Trust Company

          September-November, 2004

·        Fifth Third Bank

          September-October, 2004

·        Tom Johnson Investment Management, Inc.

          Period ending October 30, 2004

·        City of Owosso Employees Retirement Fund

September-October, 2004

PAYMENT AUTHORIZATIONS:

• Chemical Bank and Trust Company

            Administrative Fees

            For Period 09/01/04 through 11/30/04                             $7,880.88

• Fifth Third Bank

            Administrative Fees

            For Period 07/01/04 through 09/30/04                             $6,575.73

• Tom Johnson Investment Management, Inc.

Management Fee

For Period 07/01/04 through 09/30/04                             $8,952.96

• Gabriel, Roeder, Smith & Company

            Review of City ordinance in light of recent

            changes to Section 401(a)(9) of the Internal

            Revenue Code                                                               $1,000.00

• MAPERS

2005 Annual Dues                                                         $    50.00

COMMUNICATIONS:

• Ronald J. Tobey, City Treasurer – Report of Checks Written
• Gail L. Schultz, City Clerk – Certified copy of ordinance amendment to Sections 2-403 and 2-404 of Chapter 2 as it relates to the Board of Trustees and terms of office.
• Brian T. Lee, Fifth Third Bank – Copies of 09/27/04 and 11/15/04 letters to City Treasurer regarding discussions with Marie Vanerian, Merrill Lynch.
• Gabriel, Roeder, Smith & Company – Client Satisfaction Survey
• Gabriel, Roeder, Smith & Company- August, October, November 2004 News Scan
• Fifth Third Bank Investment Advisors – summary of qualifications

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

• Rodwan Consulting Company – Maximum Benefit and Contribution Limits for 2005.
• Miscellaneous Conference Announcements

OLD BUSINESS:

·        Status Report – Report on meeting with Brian Lee, Fifth Third Bank representative

·        Status Report – Trading Commissions @ Merrill Lynch

NEW BUSINESS:

·        Request for Transfer of Funds to MERS – Rusty LaMay

·        Nomination of Section 16.24(a) Beneficiary and Election of Option B – Chester F. Borton, Jr.

·        System Compliance with IRS Regulations. Review of response from Gabriel, Roeder, Smith & Company regarding the IRS Section 401(a)(9) compliance study.

·        Resolution of Authorization.  Consider resolution authorizing City Treasurer to make certain payments without prior board approval.

·        Fifth Third Bank-Trust/Institutional Investment Management Services Agreement. *

·        Fifth Third Bank-Certificate of Plan Administrator. *

·        Fifth Third Bank- Retirement Plan Services Mutual Fund Consent Form *

* City Attorney William Brown is currently reviewing these documents and will report to the Board regarding necessary action.

INVESTMENT MANAGERS REPORT:

• Merrill-Lynch:  Third Quarter 2004 Executive Summary Report

SPECIAL PRESENTATION

·        Trustee Orientation by Michael VanOverbeke – Principal,

 VanOverbeke, Michaud & Timomony, PC, Attorneys and Counselors.

SET NEXT BOARD MEETING:  February 17, 2005

ADJOURNMENT: