Friday, May 28, 2010

May 26, 2010 Pension Board Meeting Minutes

Two new pension board members took the oath of office, Gale Walldorff and Ms Simons.

Minutes of the March, 4 2010 were approved.

Amended minutes of the May 8, 2009 were approved.

Ratification of payment of 17 invoices was approved.

Callan Associates reviewed 1st quarter of 2010 investments. Returns for 1st quarter ending March 31, 2010 were 4.44%. Last year returns were 39.09%.

Securities litigation law firm Robbins Geller Rudman & Dowd, LLP was hired.

Two lawyers were interviewed to represent the DeKalb County Pension Fund. Patricia Keesler, P.C. of the Benefits Law Group was hired.

Review of the early retirement incentive results by The Segal Company were discussed.

Request from 4 employees to repay contributions withdrawn from the pension plan were approved.

Request from 1 employee to pay contributions for employment on leave without pay was approved.

Request from 2 employees for disability pensions were approved.

Pension Board annual 2010 budget was discussed.

The new “Pension Estimator” was viewed and will be on the county website soon. This is a tool for employees to use to input there information and receive a estimate of the future pension payout.

Pension Board had a discussion of early retirement incentive retirees who might be rehired on a part time basis without benefits. This will have no impact of the pension fund!

International money manager T Row Price was hired.

I want to thank all of the employees who have supported me while on the Pension Board. This is my last day of employment with DeKalb County and I have resigned form the Pension Board. Thank you for the opportunity to service you. I wish all the employees of DeKalb County a great future and much prosperity.

James Butler

8 comments:

Anonymous said...

What about the millions the pension GAVE or LOANED to the county for the early retirements...Yea, I know ignore them and they will go away...the Dekalb answer to every question. We should get any answer on this but it seems no one really cares what the real info is...do you? And was Jones allowed to buy back pension time for "time served in the Ga General assembly" or not and if so why and why can't anyone else in a similar " related" previous employment? Do you give a damn?? Richard Belcher , please grab hold of this and get us some answers......no one else will

Cara Gigante said...

So now that Butler is out, are we going to receive updates on the fund? Before he was on the board I never heard a damn thing about the pension or the board. It was good to get updates on changes and the status of our money.

LoFlyer said...

So Butler voted for the cushy incentive that lead to the mass exodus of 820 employees, twice the targeted number the county wanted.

I should get my first retirement check on the first. Life is grand, mates!

I will out myself next week. Some of you already know who I am, thanks for keeping the info to yourselves! Best of luck, guys!

Anonymous said...

Mr Butler thanks for posting the information my retiree rep Robbie Robertson never communicates. Thanks for your service.

Anonymous said...

"Two lawyers were interviewed to represent the DeKalb County Pension Fund. Patricia Keesler, P.C. of the Benefits Law Group was hired".

Who the hell represents the employees? We need our own attorney.You people better get interested in your future !

Anonymous said...

Yes, I agree. Who represents the retirees? Never hear anything from whoever he is...what a joke.

Anonymous said...

So what about this gift or loan or what ever it was to the county from our pension. Seems a bit unethical if the pension board members got in on something they fluffed from the pension. Am I wrong?

Anonymous said...

OK, I really don't get it at all. The county offers an early retirement package with gravy for those wo take part in order to help the county and get people off the payroll. Our pension gives or loans millions to the county to make it happen (will we ever get an answer on that? How about you Mr. Butler?)Too many people take advantage of the grave train incintive and now the county need to hire to replace the retirees. If this is not the bigges showboat example of total inco,petence I have ever seen...I don't know what..who answers these questions? Who cares?