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2001-4-4MINUTES POLICE RETIREMENT COMMITTEE April 4, 2001 A meeting of the Blair Police Retirement committee was held on April 4, 2001 at noon at the City Office. The meeting was called to order by City Administrator Storm. Those present were Chief Mary Doeden, Lieutenant Joe Lager, LeeRoy Swanson, Tom Sick, City Administrator Storm, Assistant Administrator Hiller and Civil Service Secretary Taylor. Motion by Swanson, second by Sick to approve the minutes of the January 23, 2001 meeting as presented. All members present voted Aye. Motion carried. Doug Oldaker, Account Representative with Kirkpatrick Pettis was present to discuss the activity in the funds he currently manages for the Police Pension group. He discussed current issues of the market and its affects on the fund. He stated the funds were conservative and provided a well-rounded portfolio. Discussion was held regarding the pros and cons of allowing the individual officers to self direct their funds. Mr. Oldaker stated he felt that due to what is going on in the market today, he would not recommend switching to self directed funds at this time. However, if the Committee decided to change, they would be able to accommodate that request at no additional fee. He also outlined some benefits to the plan to purchase Individual Stocks as opposed to Mutual Funds. He stated he would wait to hear from the Committee regarding any changes they would like to see made in the investment portfolio of the Police Pension. City Administrator Storm directed the Committee to consider the possibility of obtaining Requests for Proposals along with the Civilian Pension Committee. Discussion was held regarding allowing the Officers to self -direct funds verses continuing with Kirkpatrick Pettis, the responsibility of the Police Pension Committee and the desire of the officers to self -direct. Motion by Sick, second by Doeden to participate in the Request for Proposals along with the Civilian Pension Committee. All members present voted Aye. Motion Carried. City Administrator Storm stated the next meeting would be held with the Civilian Pension Committee to review proposals received. Motion by Lager, second by Sick to adjourn the meeting at 2:00 p.m. All members present voting Aye. Motion carried.