HomeMy WebLinkAboutCCDATE=JUNE 19, 2001 • Elnhs Fue. pension Board
Mumtes
June 19,2001
Meetimu was celled to order at 3 30pm
Present T_ Michaels, J. Nuwieki, J Hennci, L. %fee= V. Beard
A. Bialek, K. Nelson
Absent Mawr whock
Guest, L. Rankine
)linulm
Mita s of the May 2001 meeting ween read and a mmion was made to appwve by K. Nelson,
teenaged by V. Baud. Carried.
Treasurers' Report
1. Nouicki handed out the relief from Knox on the months up Untaught May 2W I. A f items
acre not received by the vitt' and would be mm ouno the members as soon as received hour;
apparent that we have lost on our investments, beti of tla, stockmarket. However, the load
was reminded that lbws investments were of a long turn mute and subject to downturns in dm
• n omy. Ouaden seemed to be hi the hardest A motion was made to accept the report as
sum mttW by J. Henrici, seconded by K_ Nelson Carried
Mr Rankin prmeN to tevlew the pnnfnlio Talion on the malysis of our Pond. It ass very
informative end easily ie iewcd. h give an overall puspective wour fund.
The topic then piooecdM to what we should de in the future. The invesunml committce had met
-2- times and gmemlly agreed that the available money should be laddwed to cover the possible
shortfall that may occur over the next 3, 5, and 9 year range. The board agreed with this. Next
we dfscuored the under perf among funds and what the possibilities we mold look at for im'ening
and rei seating available money to increase the xield of our im'catments T. Michaels reminded
the members that we have always been very conservative mid this would be a change of suategy.
A analvsis ofdidbrem fiends would be done by the hrvepmem communtee members, with
guidclinee provided to reduce the Ponds that are more favorable for passible increased yields. It
at stated that a possible movement of up to h5% nfthe Vanguard could be used to do tNs
Some was expressed that dus would be to much and a more conservative annount could
be looked at A recommendation would be made at the neat Board meeting for the members to
renew before anything would be done.
• Secretan Report