1995-5-15POLICE RETIREMENT COMMITTEE
A meeting of the Police Retirement Committee was held on May 15,
1.905 at 7:00 p.m. in the City Council Chambers. The meeting was
called to order by City Administrator Storm at 7:05 pm.
Those present were Committee members Chief of Police Doeden, City
Administrator Storm, Captain Kuhl, John Shotwell and Tom Sick.
Those absent were: LeeRoy Swanson. Also present were Secretary
Nickerson, Jeff Wilhelm, Stephanie O'Keefe and Tom Sudlyk-a from
Kirkpatrick Pettis Trust Company.
A motion was made by Tom Sick to approve the minutes of the June
22, 1994 meeting. It was seconded by Ed Kuhl. All present voting
aye. Motion was carried.
Presentation was given by Stephanie O'Keefe on the performance of
the investment over the last 7 yea_-cs and explained the merger
between American National 2ank and Kirkpatrick Pettis Trust
Company, She stated that staff would remain the same but is now
under a new name -Kirkpatrick Pettis Trust Company.
At that point, Tom Sudyka explained the philosophy and the way the
money is handled by Kirkpatrick Pettis. During this presentation,
it was discussed and recommended by Mr, Sudyka that we change our
portfolio to mutual funds and setting the limits to what we felt
comfortable with. A motion by Ed Kuhl to go into mutual funds and
keep the limits at a maximum 42.5 % of assets. The motion was made
by Tom SicK All present voting aye. Motion was carried.
John Shotwell made the motion to do a "push" rollover of the equity
and fixed income at no cost to the City of Blair. If this cannot be'-
done,
edone, the committee will. meet to discuss the next option. The
motion was seconded by Ed Kuhl. All present voting aye. Motion was
carried.
Recommendation was made by Rod Storm to put the forfeited monies of
James Murcek and Donald Buttery toward the unfunded obligations of
Ed Kuhl and Darwin Shaw, The amount being 09,034.75, which will be
distributed by percentage between Kuhl and Shaw with the Council,
later, budgeting the for the difference. A motion was made by John
Shotwell to take the forfeited monies of James Murcek and Donald
Euttety to meet the unfunded obligations Shof Ed Kuhl and Darwin
awI
. t was seconded by Marvin Doeden. All present voting aye.
Motion was carrie&
The meeting was adjourned at 9:10 p,m,