2016-03-24-RB-min - Laserfiche WebLink

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by Kent Stahl are responsible for selecting and monitoring the strategies. The report listed the top ten holdings with Bristol -Myers Squibb bring the largest and the sector weights with consumer discretionary being the most over - weighted and energy being them most underweighted. 2016 started slower but the fund is showing an improvement in March. Privately held companies are positive with UBER showing a 40% return. Health care and information technology have also done well. The underweight in industrials detracted from the portfolio. There was a White Oak distribution of $493,304.91, and two calls for $58,955 and $110,578. There was also a Golub call for $100,000. Dan Sherman will be attending the May meeting to discuss the "once a member" issue. When queried, he responded that he had not done a study on his issue. He feels the size of the liability is small and the impact on the system is minimal. He will also discuss decreasing the assumption to 7.5% There is nothing new to report on the Creedon or O'Leary DALA cases. There are investment calls for Golub on March 31 for $100,000 and White Oak on April 5� ` for $110,578. The Board did the 3/1/16 review for Karen. It was noted that she would like to have her title changed to Assistant Administrator and she requested a double step increase and more hours as she feels she is doing more work than an assistant. The Board noted they do not want to increase her hours at this time as the 18 hours per week seems sufficient and they will address the title change at another time. They unanimously voted to move her to step 5 grade 4 and carry over the COLA granted last July. She will also receive the July 2016 COLA when granted to LMEA. Loomis will be asked to attend the April meeting for a review. A motion was made, seconded and approved unanimously to adjourn the meeting at 10:25. The next meeting will be held April 27, 2016, 8:00 AM at Cary Memorial Library. Robert Cunha, Chairman Alan Fields, Appointed Member Absent Robert Addelson, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member