Owosso Employee's Retirement System Agenda

June 16, 2005 - 8:00am
City Council Chambers

CALL MEETING TO ORDER:

ROLL CALL:

APPROVE AGENDA:

APPROVE MINUTES OF APRIL 21, 2005 REGULAR MEETING:

APPROVE PENSION CHECK REPORTS:

1. April, 2005                    $92,599.06
2. May, 2005                     $91,767.28

APPROVE STATEMENTS:

1. Chemical Bank and Trust Company
   April and May, 2005
    

2. Fifth Third Bank
   April and May, 2005
    

3. Tom Johnson Investment Management, Inc.
   March 31, 2005
    

4. City of Owosso Employee’s Retirement Fund
   April and May, 2005

PAYMENT AUTHORIZATIONS:

1. Chemical Bank and Trust Company
   Investment Management Services
   For period 03/01/05 through 05/31/05                 $7,945.92
    

2. Fifth Third Bank
   Investment Management Services
   For Period ending March 31, 2005                      $6,626.10
    

3. Tom Johnson Investment Management, Inc.
   Investment Management Services
   For period 01/01/05 through 03/31/05                 $9,349.87
    

4. Gabriel, Roeder, Smith & Company
   2004 Annual Actuarial Services                          $9,400.00

COMMUNICATIONS:

1. Ronald J. Tobey, City Treasurer:  Report of Checks Written – April and May, 2005
2. Gail L. Schultz, City Clerk – Non-Supervisory Police Representative Election Results
3. Tom Johnson Investment Management, Inc.:  Letter of notice regarding Ford Motor Company credit rating downgrade
4. MAPERS One Day Seminar Announcement
5. MAPERS PAC Golf Outing announcement

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

• Gabriel, Roeder, Smith and Company: May 2005 News Scan
• Grant’s Interest Rate Observer
• Lerach, Couglin, Stoia, Geller, Rudman & Robbins, LLP: Corporate Governance Bulletin
• Navellier Calculated Investing
• PlanSponsor: April and May, 2005.
• Schiffrin & Barroway, LLP, Attorneys at Law: letter of introduction.
• Miscellaneous Conference Announcements

OLD BUSINESS:

1. Expense Account Detail Report:  Richard C. Williams, Finance Director
2. Done Away Fees Resolution Report: – Marie Vanerian, Merrill Lynch
3. Discussion: Investment Policy Update Proposal

NEW BUSINESS:

1. Adopt 2005-2006 Budget - $19,400.00
2. Consideration of Interest Rate (5%) on Employee Contributions
3. 2004 Summary Annual Report and List of Expenses Paid by Soft Dollars Report
4. Consideration of Eligible Domestic Relations Order: Marcie v Arthur Hart

INVESTMENT MANAGER REPORT:

1. Merrill-Lynch:  First Quarter 2005 Executive Summary Report

NEXT BOARD MEETING:         August 18, 2005

ADJOURNMENT: