CITY OF KNOXVILLE PENSION BOARD

 AGENDA

THURSDAY – February 9, 2012

8:15 A.M.

917B E. 5TH AVENUE

 

 

CALL TO ORDER:

 

Audit Presentation – Ted Hotz and Kristi Paczkowski, Pugh and Company

 

APPROVAL OF REGULAR MEETING MINUTES FOR January 12, 2012 and December 20, 2011:

 

APPROVAL OF REVISED AGENDA:

 

ADMINISTRATIVE MATTERS:

 

Donald Sams – request to establish prior service as creditable service

 

Elect Personnel Committee

 

Adoption of voting rules

 

Schedule Pension Board Meetings for Second Quarter 2012

 

                        Thursday, April 12, 2012 – 8:15 a.m.

            Thursday, May 10, 2012 – 8:15 a.m.

            Thursday, June 14, 2012 – 8:15 a.m.

 

EXECUTIVE DIRECTOR COMMENTS:

 

CONTRACTS: 

           

ENROLLMENTS:

 

The following General Government employees have filed applications to become members of the Plan G1 pension system.

 

            Tracy H. Derrick

            Thomas G. Fournet

            Gary N. Johnson

            Scott A. Raley

            Marshall Stair

 

WITHDRAWALS:

 

The following employees have filed an application to withdraw employee pension contributions plus 4% interest and the supplemental retirement account as applicable in Plan G Option 1.

 

Becky Acuff, General Govt. – Plan G1, vested

Blake A. Barham, Police Dept. – Plan C, vested

Karen Buchanan, General Govt. – Plan G2, vested

            Phyllis Patterson, General Govt. – Plan G1, vested

 

APPLICATION FOR DEFERRED RETIREMENT:  PLAN G2

CHARTER SECTION 1360.28

 

            Diana Hall, General Government                         Option to be determined

            Date of birth, January 4, 1950:  62 years of age

            Total credited service:  6 years 5 months

            $553.69 pension effective February 1, 2012

 

APPLICATION FOR NORMAL RETIREMENT:  PLAN G2

CHARTER SECTION 1360.12

 

            Frederick D. Downs, General Govt.                                  Option B-11

                                                                                                            10 Yr. Certain & Life

            Date of birth, August 2, 1947:  64 years of age

            Total credited service:  39 years 9 months 16 days

            $2,770.87 pension effective February 1, 2012.

 

            Floyd R. Smith, General Govt.                                           Option A-4

                                                                                                            50% without reinstatement

            Date of birth, July 2, 1945:  66 years of age

            Total credited service:  15 years 9 days

            $1,594.02 pension effective February 1, 2012.

 

 

APPROVAL OF INVOICES FOR PROFESSIONAL SERVICES: 

           

Bryan, Pendleton, Swats & McAllister – Actuary (Dec. 2011)           10,401.00

Kennerly, Montgomery & Finley – Attorney (General – Jan 2012)     pending      

Kennerly, Montgomery & Finley – Attorney (G1 – Jan 2012)             pending       

Kennerly, Montgomery & Finley – Attorney (Frye Lit. – Jan 2012)     pending      

State Street – Trustee (Dec 2011)                                                 3,403.01

Acadian – Money Manger (4th Qtr. 2011)                                               53,959.00

AQR – Money Manager (4th Qtr. 2011)                                                   36,920.00

Calamos – Money Manager (4th Qtr. 2011)                                          26,258.00

Eagle – Money Manager (4th Qtr. 2011)                                                 80,069.44

IRM – Money Manager (4th Qtr. 2011 – Core Fund)                           18,311.38

IRM – Money Manager (4th Qtr. 2011 – TIPS Fund)                             2,898.20

STW – Money Manager (4th Qtr – 2011)                                                  25,936.94                  Tortoise – Money Manager (4th Qtr. 2011)                                        49,704.26

                          

                

Mr. Cherry, Executive Director, has reviewed the bills and certifies that they are consistent with the services provided and are within the budgeted figures of the system’s financial plan.

 

INVESTMENT MATTERS:

 

            Dan Holmes – Summit Strategies

 

                        Quarterly Review

 

                        Aether II

 

Investment Committee Minutes (see folder)

 

ATTORNEY COMMENTS:

 

G1 Litigation – Calendar update only; no action required

 

Derrell Frye Litigation

 

OTHER:

           

PUBLIC COMMENTS:

 

ADJOURNMENT:

 

ESTIMATE OF TIME FOR MEETING: 2.5 hrs.