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.