2016-10-25MINUTES
POLICE RETIREMENT COMMITTEE
October 25, 2016
A meeting of the Blair Police Retirement committee was held on October 25, 2016 at 12:00 p.m.
in the Blair Council Chamber. The meeting was called to order by City Administrator Storm.
Those present were Chief Joe Lager, Council member Ben Hansen, Tom Sick, Lee Roy Swanson,
City Administrator Storm, Civil Service Secretary Wheeler, Assistant City Administrator Green,
Rick Dhabalt and Sarah Frederickson from DC Retirement Strategies, Amy Larsen and Neil Lisec
from BPI -Third Party Administrator. Absent: Lieutenant Aaron Barrow.
Motion by Frahm, second by Long to approve the minutes of the May 18, 2016 meeting as
presented. All members present voted Aye. Motion carried.
Rick Dhabalt reviewed the following: 1) Plan Design: Reviewed the demographics stating there
are 18 active participants. This plan also has a lot of internet usage, which is good. None of the
participants are doing any day trading; 2) Investments: Less than 5% of assets are in Target Date
funds, compared to an industry average of about 50%. Last November, 3 funds were considered
less favorable and therefore on the watch list which are as follows: Equity Growth, MidCap
Growth III, and LargeCap Growth II. Equity Income is now back to favorable, LargeCap Growth
II is neutral, but MidCap Growth III still underperforming and has been on probation since 2013;
3) RPAG scoring system and how the plan's investment line-up faired on their scale. MidCap
Growth III scored a 5110. A Fiduciary Investment Review was presented to help the Committee
determine if Principal funds are being monitored and are performing well; 4) Education: New
hires- Brenda enrolls new employees in the plan, but they are encouraged to call DCRS to discuss
investment options. Discussion was held regarding group education February. Sarah will
coordinate with Joe; and 5) Expenses: Review of fees indicating nothing had changed since last
year.
Brenda mentioned a participant QDRO that had been discussed in September in which she had
consulted Gary Clatterbuck to make sure QDROs were allowed. The participant was told to work
with his attorney to draft the QDRO. The ball is now in the participant's court. Committee asked
BPI/DCRS to bring investment information for Steve Bohlen's account for future meetings. Neil
was able to get that information from Amy at the end of the meeting stating Bohlen's funds are in
a low risk asset allocation.
Motion by Hansen, second by Lager to remove the MidCap Growth III fund and map assets to the
Principal MidCap fund that is already available to be effective either January 1 or February 1,
2017. All members present voted Aye. Motion carried. Note: Notice will need to be given to all
participants at least thirty days in advance of the change.
Next Meeting: October/November 2017
Motion by Hansen, second by Lager adjourn the meeting at 1:06 p.m. All members present voting
Aye. Motion carried.