1999-4-9MINUTES
POLICE RETIREMENT COMMITTEE
APRIL 9,1999
A meeting of the Blair Police Retirement committee was held on April 9, 1999 at
noon at the City Office. The meeting was called to order by City Administrator
Storm.
Those present were Doeden, Swanson, Kuhl, Shotwell, Sick and Storm. Also
present were Joe Lager, Police Officer and Doug Oldaker from Kirkpatrick Pettis.
Motion by Shotwell, second by Doeden to approve the minutes of the February
20, 1998 meeting as presented to the members. All members present voting
Aye. Motioned carried.
Doug Oldaker, of Kirkpatrick Pettis then reviewed the status of the retirement
fund. Doug stated that Currently the fund is almost 50/50 in Fixed Income and
Equities. Funds are currently invested in KPM Fixed Income Fund and JANUS
INVT FD OVERSEAS FD 5.1%, Rowe T Price MIDCAP Growth FD 12.99% and
VANGUARD Growth & Income 32.60%. Doug reviewed the investments and the
strategies for each. Committee members had several questions. Doeden was
concerned as to why equities had not increased to 60% as authorized. Sick felt
the current mix was very good based on current markets.
Motion by Kuhl, second by Shotwell to continue the investment strategies giving
Kirkpatrick Pettis the ability to go to a maximum of 60% equities.
Storm reported that Dar Shaw had left the police department. Therefore we have
only one pre 84 officer. All other officers are defined contribution.
Storm also indicated that it is the staffs intention to keep forfeitures uncommitted
at this time. Current forfeitures are Journey, Moffit and Wakehouse.
Motion by Shotwell, second by Doeden to adjourn at 1:10 p.m. All members
present voting Aye. Motion carried.