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FUTURE MEETINGS
The 2007 Board of Trustee Meetings will be held on Tuesdays at 9:30 a.m. in the Mount Clemens Public Library. The dates are January 9, April 10, July 10, and October 9, 2007. The October meeting will be our Annual General Assembly.
A NEW BEGINNING
Mike Convery, retired Mount Clemens Police Lt., has moved on. He married Suzanne Merkau
on October 7, and they moved to Florida a week later. On Nov. 6, Mike
begins his new career as a Deputy Sheriff with the Lee County Sheriff's
Department. The hiring process started last February with Law
Enforcement Certification in the State of Florida and the hiring
process with the Sheriff's Department. Suzie Convery was a Respiration
Therapist at St. John's Hospital and is a retired U.S. Air Force
Reserve. Mike says "Hello" to all his friends back home. He and Suzie
are looking forward to building a life in SW Florida.
Congratulations to Mike and Best Wishes to Suzie.
CONTACTS
Board Chair John Farah 586-463-1002 Theresa Randolph, Editor 586-463-7302 Mount Clemens Retirees
Association One Crocker Boulevard Mount Clemens, MI 48043
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RETIREMENT BOARD MEETING
Chairman John Farah
reports that the Retirement Board Meeting was held October 9, at City
Hall. The Board was surprised by a pitch from the Municipal Employees
Retirement System of Michigan (MERS) to take over the retirement fund
from Loomis-Sayles, Inc. The Board declined to act on the proposal at
that time so another meeting has been scheduled for Nov. 9. The MERS
group was invited to the meeting by city administrators who are pushing
for the transfer to save paperwork. MERS investing is very aggressive
compared to the conservative Loomis-Sayles, Inc. and the Board isn't
anxious to move the retirement fund to a riskier venue. With MERS, the
Board will also forfeit any influence on how and where our retirement
fund is invested.
Loomis-Sayles, Inc. has
consistently reached or exceeded target goals and the Board is
satisfied with their performance. Gabriel, Roeder, Smith & Co. has
been approached to compare the two investment firms. They will make
their presentation at the January 8, 2007, Retirement Board meeting.
WEB SITE APPROVED
The Board of Trustees acted to adopt the web site plan proposed by Ralph Shaw through his oaktreemail@yahoo.com
firm. $10.00 was approved for the annual domain fee and Ralph has four
suggested templates or prototypes. He will store all of the Retiree
Review Newsletters in the site archive, plus have space for
discussions, photographs, postings, etc. Ralph will be working with Pat Marshall and Theresa Randolph to set things up and would appreciate input and suggestions from other retirees.
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