October 2009 Pension Board Meeting

October 2009 Pension Board Meeting We held our bimonthly Pension Board meeting on 10-15-2009. Payment of 23 invoices was approved. Chitwood Harley Harnes updated us on securities litigation to recover funds and introduced two new cases that we are to be the lead plaintiff on. Board decided to hold off on using Motley Rice securities litigation firm until we interview other firms. A review of investment results was done by Callan Associates. Callan stated that we had a great 2nd and 3rd quarter. Board approved the investment policy statement prepared by Callan Associates. The asset allocation study preformed by Callan Associates recommended changing our asset allocation mix to 45% Large Cap Domestic Equity, 10% Small/Mid Cap Domestic Equity, 10% International Equity, 35% Domestic Fixed Income. Board is to decide on the implementation of the additional 5% to International Equity. Segal Company reviewed actuarial valuation study that is used to help determine future County/Employee contributions. There was much discussion about the future contributions. No decision was made as we will hammer out details at the next Board Meeting in November. Requests for four employees to repay contributions withdrawn from the pension plan were approved. Requests for three employees applying for disability pension were approved. Request for one employee applying for disability pension (appeal) was deferred until the November Board Meeting. A request was made for the addition of a web-based pension estimator to be added to the DeKalb County web site. The pension estimator will give all employees an easily accessible way to do ruff estimations of what there future pensions might be. Please post the attachment for employees that don’t have email. James Butler Pension Board Member