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LOSSES
Ernie Sanders, 60, passed away on Feb. 17, 2007. Ernie, famous
for his quick temper, raucous laugh, rapid-fire scolding, and typically
blue language, was a true original. He will be missed.
Arthur Kulek, father of retired firefighter Ralph Kulek,
passed away on Feb. 19, 2007. Mr. Kulek was 80 years old.
Stanley "Red" Maison, 91, retired Sanitation Director, died Feb.
25, 2007.
Frederick Pickrahn, 86, passed away April 13, 2007. Mr. Pickrahn
retired as Police Chief in 1977. He served the City for almost 30 years.
Marsha LaBuhn, 56, wife of retired Fire Inspector James
LaBuhn, died April 25, 2007 after a grueling battle with cancer. Mrs.
LaBuhn was a former teacher at St. Mary’s in Mount Clemens and currently
taught at Hamilton Parr Elementary School in Romeo.
PENSION FUND
The Pension Fund currently (as of May 1, 2007) sits at $59,000,000. Our
fund manager, Gabriel, Roeder, Smith & Co., and our investment firm,
Loomis-Sayles, Inc., gave the fund a glowing report. Average earnings are
8.3%, this is 1.2% above the projected target of 7.5%.
CITY POLITICS
There are six candidates running for City Commissioner in November, two
of them are retired city employees. On the ballot to fill 3 four-year
terms are:
Gary Blash, retired City Assessor
Karan Bates-Gasior (I)
Ron Campbell
John Cody, retired Dial-A-Ride Director
Jack Johns
John Milkovich (I)
Mayor Dempsey is running unopposed. There will not be a primary
election..
STARS & STRIPES FESTIVAL 2007
The City is hosting a new event this year - the Stars & Stripes
Festival will take place in the downtown area from Friday, June 29, thru
Sunday, June 31. This event is free to the public and is produced by the
team responsible for the wildly popular Arts, Beats, and Eats Festival in
Pontiac. There will be over 100 artists, 50 vendors, carnival rides, a
display of Classic American Muscle Cars, boat and jet ski dealers, and
other outdoor fun. Recording artists The Gin Blossoms, Puddle of Mud and
other top name entertainers will perform on three different stages
throughout the festival. The annual Fireworks display will kick off
the festival on Friday, June 29. For more information call 586-913-1919 or
info@funfestinc.com.
RECOVERING
Joyce Cross, retired Accounting Supervisor, successfully
underwent heart bypass surgery and is doing well.
Janet Anderson, retired from the Credit Union, had back surgery
and is on the mend. |
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CHAIRMAN’S REPORT
Retiree’s Chairperson John Farah, attended the City’s Pension
Board meeting on April 30. He reports that the City is in the process of
repaying the pension fund $800,000 in unfunded liability it created by
offering early retirements.
This repayment is coming out of the General Fund and is
expected to amortize over 12 years.
Public Act 728 of 2002 requires recovery of these funds. An actuarial
report, completed and presented two weeks prior to authorizing any
retirement benefits, is also required by law. It is unknown if the city is
addressing the unrealized earning power of the $800,000.
SEND NEWS
Retiree’s Review
One Crocker Boulevard
Mount Clemens, MI 48043
586-463-7302
tsrand18@sbcglobal.net
Visit our web site at
www.mcretirement.com
41B COURT TRANSFER
The transfer of assets to the Municipal Employees Retirement System of
Michigan (MERS) for 41B District Court employees has been approved. This
transfer of stocks and bonds will cover the employees who are now with
MERS as part of the court consolidation. Employees who retired or took a
deferred retirement from the court while vested in the City’s pension plan
will remain in our system.
BOARD MEETING DATES
July 10 & October 9, 2007
Mount Clemens Public Library, 9:30 am
RETIREE’S WEB PAGE
Ralph Shaw is overseeing the development of our Web Page. As
part of the Home Site, an introductory paragraph has been added to let
visitors to the site know who we are. The first draft of this intro reads:
"The City of Mount Clemens Retiree’s Association is a group of
individuals who have retired from the City of Mount Clemens. The
Association promotes fellowship and communication between former
co-workers and creates a personal link that is as far reaching as the
retirees themselves. The field of membership includes all retired
employees, their spouses, their beneficiaries, and their widows and
widowers.
The Association is governed by a Board of Trustees elected by the
membership. This Board is made up of a Chairperson, Treasurer, Secretary,
and four Trustees. Board members are elected to 1-3 year terms during the
Annual Membership meeting in October of each year. The Board meets
quarterly to discuss retiree issues. These meetings are posted in the
Retiree’s Review newsletter and are open to the public.
A representative from the Retiree’s Association also sits on the City’s
Pension Board, a body that regulates the Pension Fund. Our representative
keeps the retirees current on trends in investments and earnings, as well
as other pertinent City business."
John Farah, Chair & Representative
Theresa Randolph, Secretary & Editor
James Anderson, Treasurer
Trustees: Christine Genuise, Dennis Ladd, Patricia Marshall, Leighton
McKinnon,
Ralph Shaw, Web Manager |
