Firefighters propose cuts

Discussion in 'Local Government and Groups' started by Bob Wells, Apr 22, 2011.

  1. Bob Hudson

    Bob Hudson Beach Fanatic

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    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.
     
    Last edited: May 27, 2011
  2. 30ashopper

    30ashopper SoWal Insider

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

    Bob Hudson Beach Fanatic

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    Yes they would be subject to a public records request.
     
  4. beachFool

    beachFool Beach Fanatic

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    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?
     
  5. Bob Hudson

    Bob Hudson Beach Fanatic

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    I will make sure it gets asked.
     
  6. Bob Hudson

    Bob Hudson Beach Fanatic

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    It appears that the fire fighters have left the building
     
  7. idlewind

    idlewind Beach Fanatic

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    Hope the fire's out.
     
  8. Bob Wells

    Bob Wells Beach Fanatic

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    :wave:Still here
     
  9. Henry Apfelbach

    Henry Apfelbach Beach Lover

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    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.
     
  10. Henry Apfelbach

    Henry Apfelbach Beach Lover

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    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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