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2014-10-17MINUTES CIVILIAN RETIREMENT COMMITTEE October 27, 2014 A meeting of the Civilian Retirement committee was held on October 27, 2014 at 1:30 p.m. in the Blair Council Chamber. The meeting was called to order by City Administrator Storm. Those present were Robert Frahm, Deanna Jensen, Terry Vandry, Gayle Roberts, City Administrator Storm, Assistant City Administrator Green and Brenda Wheeler. Rick Dhabalt and Greg Cismoski from DC Retirement Strategies and James Baker from Principal Absent: Pat Long. Motion by Roberts, second by Frahm to approve the minutes of the July 10, 2012 meeting as presented. All members present voted Aye. Motion carried. Rick Dhabalt and Gregory Cismoski from DC Retirement Strategies were present to discuss the activity in the funds currently managed by Principal for the Civilian Pension plans. The plan design and current provisions of the plan were reviewed. Plan demographics were also reviewed including asset concentrations and internet access. Discussion was held regarding adding a Roth feature to the 457 plan and current investment spread which is mostly single holder investors in the LifeTime Funds. Otherwise 65% of plan participants have 5 or more funds, which is a good asset allocation. A large concentration of participants are in small and mid -cap funds. James Baker, Principal, explained the difference between sub -advised vs. mutual fund networks and LifeTime Target Date vs. RetireView. Three participants in the Civilian Plan use RetireView. He also reviewed Principal's due diligence results indicating three funds are on probation and one is on the watch list. PIMCO was discussed as to whether or not to keep the fund. No changes were made to any funds. The deferred compensation plan demographics were also reviewed during this meeting. Plan costs were reviewed and all plan were under 1.00% at .93%. This rate is very competitive when compared to the national averages. DC Retirement Strategies offered to enroll all new employees which is currently handled by Brenda. Possible topics for future education meetings were discussed to include Bo - it -myself vs. LifeTime vs RetireView, awareness of mobile app, account balance and ROR testing and rebalancing concepts. DC will work with Aaron and Joe to coordinate Group Employee education at the police station. In lieu of a signed Service agenda, DC Retirement Strategies will reach out to the city every fall to coordinate an annual review sometime in October. Motion by Frahm, second by Roberts to adjourn the meeting at 2:45 p.m. All members present voting Aye. Motion carried.