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Bob Hudson

Beach Fanatic
May 10, 2008
1,066
739
Santa Rosa Beach
I am a person that was trained to accept but verify.

In my opinion if and when we gain access to prior studies you will find that over the lifespan of the plan those assumptions on return and salary growth will be very close.

Two many variables have been introduced into this discussion whose only source was "someone" told me or I heard.

Perfect example is the 109 year lifespan. Once verified it proved to be inaccurate.
 
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30ashopper

SoWal Insider
Apr 30, 2008
6,846
3,471
56
Right here!
I am a person that was trained to accept but verify.

In my opinion if and when we gain access to prior studies you will find that over the lifespan of the plan those assumptions on return and salary growth will be very close.

Two many variables have been introduced into this discussion whose only source was "someone" told me or I heard.

Perfect example is the 109 year lifespan. Once verified it proved to be inaccurate.

Do you have any idea how we can make that happen? Are these studies public records?
 

beachFool

Beach Fanatic
May 6, 2007
938
442
My CRM calendar has a pension board meeting this coming Wednesday at 1PM.

I cannot attend

If possible someone should ask the professionals who are in charge of the investments:

Why does the plan use Class R-1 shares with a higher annual expense ratio instead of Class A shares or other share classes with lower annual costs?

Can Class A shares be purchased with a commission waiver?

Has the fund made any attempt to appropriately diversify, specifically allocation to small-cap stocks?
 

Henry Apfelbach

Beach Lover
May 14, 2011
61
13
Hi Henry,

Well, all I can say is that the 100 hours was discussed by management many times during my tenure and the overtime problem was said to be directly related to the increase in hours, which many considered a raise that the admin staff did not get. I heard this time and again, so I couldn't help but think otherwise. All I am saying, is that if tough economic times were upon the District, I don't think there should have been raises or more time given, which again, time is money.

Have a good night!

Diane, Sorry for the delay. I had a computer crash and I was out of town for the last weekend. I have not left the building. I am just pointing out that what you heard was the same thing we were being told at every meeting. It was not until we asked and then researhed the question that we got a better answer. It seems that what was really causing OT was that fact that we had two members on extended military leave, and one person on a leave of absense, another on medical leave and things like that. The contract does not count thoes people against the daily staffing.

As far as the increase, its a double edge sword. If you will recall and I am sure you read we were given 72 more hours a year but were also required to take 72hrs a year minimum. When we take a day off on PTO we then give up our overtime. This is something that seems to get overlooked. I hope you had a great Memorial Day and I hope all is well.
 

Henry Apfelbach

Beach Lover
May 14, 2011
61
13
Since Bob Wells was the only person I know on here that was in attendance at the Pension Board meeting I am hoping he can answer any of your questions. I heard it was a good meeting, but since the 8pm start time is a little late for my family life I had to abstain from attendance. With that Bob, feel free to tell what was discussed about the investments and such.
 
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