Friday, December 24, 2010

Pension Update

This is just a quick update to address some concerns.

I know there have been a lot of questions in reference to the Amendments to Section 921, Investment of Funds, to the Pension Code. It was brought to the board’s attention by our consultant, Callan Associates, that some of the investment strategies as related to mortgage backed securities that were held as underlying positions by some of our managers may be in conflict with Georgia Law.

After seeking the advice of legal counsel, the board made a motion at the July 2010 meeting to address the issue. The motion was to update the code. There is nothing to be concerned about. The board is just taking measures to ensure that the fund is in compliance with Georgia law.

I would recommend that you vote in favor of this amendment.

The next Pension Board meeting is scheduled for January 13th, 2011.

Merry Christmas and Happy New Year to All,

Robbie Robertson
Vice-Chairman
DeKalb County Pension Board

6 comments:

Anonymous said...

So we put our name -address - date of birth - on this envelope. Where everyone can see , yes I do not trust the Post Office Employees.

Anonymous said...

Take out the language that allows you to buy mortgage securities backed by the federal government and I'll vote for it. Until then I vote NO.

Also if this was done in July why wait until Xmas to mail this out and only give us till 01/10 to send it back? Were you afraid to give us time to think about it?

Anonymous said...

Hey Robbey, I hear what you rec co mend... I rec co mend you attend all the meetings or you will be voted out......Just saying....Theres no way the county should have been ALLOWED to borrow any money from our pension...Once again, Im just saying......

Anonymous said...

I agree. Not attending meetings on such an important item of giving the county millions from the pension is unforgivable. We worry about the government getting to our pension in post's way back and here right under our noses the pension board just gives the county our money. Robertson, who missed the meeetings altogether and old chief sock in his mouth who sat there and said nothing, should resign and there should be an election of people that will actually represent the employees, to the benifit of the employees only. The agreement was in July and they send the ballot out at Christmas without a plain english explanation of what it's about is typical of this amaturish board.I'm sorry, I just do not trust you people at all.

Anonymous said...

I agree. Not attending meetings on such an important item of giving the county millions from the pension is unforgivable. We worry about the government getting to our pension in post's way back and here right under our noses the pension board just gives the county our money. Robertson, who missed the meeetings altogether and old chief sock in his mouth who sat there and said nothing, should resign and there should be an election of people that will actually represent the employees, to the benifit of the employees only. The agreement was in July and they send the ballot out at Christmas without a plain english explanation of what it's about is typical of this amaturish board.I'm sorry, I just do not trust you people at all.

Anonymous said...

Everyone who got one of these ballots needs to sit down and read the thing (as miserable of an explanation as it is) and then read Robbie's stated explanation. The two just don't jive. If it is simply a measure to comply with the State Law..then, why can't the Board Pension members simply vote on it? Why do they need us to vote on it? I'm voting no. Too many unanswered or poorly answered issues here. Just call me an old crotchedy retired person.