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April 2008 minutes (w0624416).docCITY OF PONTIAC, MICHIGAN
GENERAL EMPLOYEES RETIREMENT SYSTEM
BOARD OF TRUSTEES
APRIL 23, 2008
A regular meeting of the Board of Trustees was held on Wednesday, April 23, 2008 at the Shrine
Room, Main Floor, City Hall, 47450 Woodward Avenue, Pontiac, Michigan 48342. The
meeting was called to order at 1:32 p.m.
Kevin Williams (arrived at 1:33 p.m.) Mayor, Clarence Phillips (arrived at 1:45 p.m.) Debra TRUSTEES ABSENT
Shirley Barnett (excused)
Charlie Harrison (excused)
Laurence Gray, Gray & Company
Cynthia Billings, Sullivan, Ward, Asher & Patton, P.C. Ellen Zimmermann, Retirement Systems Administrator Jane Arndt, M-Administrative Assistant Tony Dombrowski, Retiree Ester Jimenez, Retiree/Rehire Paulette Poehlman, Retiree/Rehire Annie Wren, Retiree Billie Swazer, Retiree
Billie Swazer stated that she and Annie Wren recently received a letter from the Retirement
Office regarding a deduction from their retirement benefit due to a longevity overpayment
included in their annual base salary. She said that their annual base salary has always included
Ms. Zimmermann stated that in 2003 a code was changed by the Payroll Department which
resulted in an error that included lump sum holiday pay as part of the longevity calculation. She
confirmed that an adjustment was made in the pension benefits for members whose final average
calculation was affected by this error.
General Employees Retirement Regular Meeting, April 23, 2008 Ms. Billings suggested that a detailed explanation be sent to the member documenting the
Ms. Swazer asked if these deductions are being assessed to members in the Police and Fire
Retirement System. She said they have been calculating longevity the same way for thirty years.
Ms. Zimmermann said that the payroll error occurred five years ago. The error has been
corrected and affected members of both systems. The Retirement Office will document the
details in writing and forward to the member.
Vice Chairman Sauceda confirmed that the Retirement Office will supply documentation to the
member addressing her concerns.
APPROVAL OF CONSENT AGENDA
A. Minutes of Regular Meeting: February 27, 2008
B. Minutes of Special Meeting: April 8, 2008
1. Correspondence from Julius Baer Re: Annual Review / Jan & Feb 2008 Portfolio Review 2. Correspondence from Capital Guardian Re: February Performance Update 3. Correspondence from Oppenheimer Capital Re: Error correction 4. Correspondence from PFRS Re: PAS Form Documentation 5. Correspondence from HR Re: PAS Form Documentation 6. Conference Information: a. NYPERS Forum – IMN – April 30 – May 1, 2008 c. Program for Advanced Trustee Studies – NCPERS – July 22-24, 2008 d. Washington Legislative Update – IFEBP – May 19-21, 2008 e. Accounting Academy – May 5-9 August 18-22, 2008 1. Financial Reports – February & March 2008 2. Commission Recapture – February & March 2008 3. Securities Lending – March 2008 4. Accounts Payable: General Employees Retirement Regular Meeting, April 23, 2008 E. Retirements, Refunds, Final Calculations, Re-Examinations a. Marie Alldredge (deceased 03-30-08) b. Janet Burgess (deceased 03-06-08) c. Alice Clancy (deceased 03-12-08) d. Noretta DeGrazia (deceased 03-06-08) e. Dave Ewalt (deceased 03-28-08): Survivor benefit of $902.77/mo to Cornelia Ewalt f. Lucille Lundberg (deceased 03-12-08) g. Charles Prince (deceased 03-24-08) h. Elizabeth Ringle (deceased 03-02-08) i. Queenie Stablie (deceased 03-14-08) j. Thomas Vargas (deceased 03-16-08) 4. Application for Disability Retirement (information only) 5. Request to Change Effective Date of Retirement:
RESOLUTION 08–016 ByWoods, Supported by Sauceda
Resolved, That the consent agenda for February 27, 2008 be approved.
General Employees Retirement Regular Meeting, April 23, 2008 Tony Dombrowski stated that he is concerned about the recent resolution passed by City
Council. He said that after retiring from the City he went to work for Nowak & Fraus and this
could affect his livelihood.
Ms. Billings explained that she was approached by Ericka Savage on behalf of the City Council
to write an opinion of the resolution that was drafted. She said that the Chairmen of both Boards
were aware of the request and authorized Ms. Billings to move forward, pending approval of
each board. She said that the Council has signed the retainer agreement with her firm. Nothing
has been finalized and she is currently researching whether it is appropriate to execute this
resolution. The Board does not have control over resolutions from City Council or Union
agreements by law. The Board can only enforce these directives.
Ms. Zimmermann said she was contacted by Ericka Savage asking to obtain a copy of the GERS
Ordinance and with some general questions on how changes can be made for non-union
members. While she was on vacation, the Council passed the ordinance amendment. She said
there may be some unintentional consequences that affect retiree crossing guards and retirees
who work the elections and others. In the past, an ordinance amendment would always come
from or through the Retirement Office. This time it did not follow that process.
Trustee Scott asked when Ms. Billings was contacted. Ms. Billings said she was contacted one
week ago regarding the resolution that was passed over three weeks ago.
Ms. Zimmermann said that she was contacted by Ray Cochran regarding this issue and her cover
memo included in the agenda. In the memo she misstated that Ray Cochran contacted Ms.
Savage regarding changing a benefit for non-union employees and asking whether it required an
ordinance amendment. She confused another issue recorded in her planner regarding the defined
contribution plan where members were not informed of their option to join either the defined
contribution or the defined benefit plan. That issue also required an ordinance amendment. The
memo was poorly worded and misstated Mr. Cochran’s involvement.
There were questions on how this amendment applies to retiree rehires currently working for the
City or indirectly through a vendor having a contract with the City.
Trustee Bowman said that it was the Council’s intention to move forward with the ordinance
amendment when they voted. The Mayor vetoed the ordinance amendment. The Council
requested Ms. Billings’s services to make sure they had a legal opinion on record.
Ms. Poehlman stated that she worked and earned her pension benefits and came back to the City
at a lower pay rate to help the city. Trustee Bowman said that a member cannot be a retiree and
return to work for the City. The retiree cannot have it both ways.
Mr. Dombrowski said that he made a major life decision when he retired. Had he known the
City Council would pass this resolution that would impact his livelihood he may have made a
different decision. He said that 98% of the work he performs at Nowak & Fraus is not City
related and he can have them reassign the other 2%. However, he does not know whether that
General Employees Retirement Regular Meeting, April 23, 2008 would make a difference since it specifically states working with a company that has contractual arrangements with the City. There was a lengthy discussion with Trustee Scott stating he was confused by Ms. Zimmermann’s memo. Ms. Zimmermann explained that she confused another issue in her planner regarding non-union members and the defined contribution plan. She has confirmed that was the case. Ms. Savage contacted her asking how non-union benefits get changed. She told her that any non-union pension benefit changes will require an amendment to the ordinance. She apologized for her poorly worded memo. Trustee Scott discussed the amendment changes to Section II in the ordinance and the recent ordinance cleanup questioning whether Council adopted these changes during the ordinance cleanup. Ms. Zimmermann explained that the ordinance amendment was passed while she was on vacation. Upon her return, Ms. Savage contacted her stating that the Council would like to request a legal opinion regarding the amendment from the Board’s legal counsel because of their experience with pension systems. She contacted both Chairmen with the request and they authorized Ms. Billings to provide an opinion. She brought this issue to the Board because the ordinance amendment will affect the system. Trustee Bowman said that Ms. Billings was retained to work on behalf of the Council. Mayor Phillips asked if the Council can request Ms. Billing’s firm to work for them. Ms. Billing said that if the Board has issue with her firm working for the Council her first obligation is to the Board. She has not released an opinion. There was discussion on why a special meeting was not held. Mayor Phillips asked if the Chairmen can make that decision without bringing it before the Board. Trustee Scott felt that the Board should have held a meeting to discuss the issue. Trustee Bowman again stated that Ms. Zimmermann was contacted by the Legislative Auditor to inquire whether the Board’s attorney could provide a legal opinion on the ordinance amendment for the Council. Ms. Zimmermann said that it is customary for her first contact to be the Chairman; perhaps she should have also contacted the Board. She did as the Chair directed. Ms. Billings confirmed that her firm will not enter into an agreement with the Council if the Board does not agree. There was further discussion pertaining to the authority of the Chairman with regard to this issue. Mayor Phillips questioned that legal counsel acted on the authority of the Chairman circumventing the Board’s involvement in the decision. Trustee Bowman stated that he does not see a problem with Ms. Billings’s firm supplying a legal opinion. Ms. Billings and her firm were contacted after the ordinance amendment was adopted to provide a legal opinion because of their pension expertise. Ms. Billings said the Chairman acted contingent on the Board’s approval. She said that nothing has been released to date. If the Board does not approve her firm’s involvement she would step back. General Employees Retirement Regular Meeting, April 23, 2008
Ms. Zimmermann said that the Board would require a legal opinion in order to implement the
ordinance amendment. Trustee Scott questioned whether a copy of the legal opinion would be
forwarded to the Board from Council.
Vice Chairman Sauceda called for a motion to ratify the Chairman’s authorization for SWAP to
provide a legal opinion for City Council regarding the retiree/rehire ordinance amendment.
RESOLUTION 08-017 By Woods, Supported by Wright
Resolved, That the Board ratify the Chairman’s approval for Ms. Billings to provide a legal
opinion for City Council on the retiree/rehire ordinance amendment.
Trustee Bowman – Yes
Re: Gray & Company – 2008 Investment Performance Outlook
Mr. Gray said that during his last performance review he has tried to set expectations regarding
the markets and provided a thorough analysis of the portfolio and manager performance. The
marketplace is going through one of the toughest periods they have seen; however he wanted to
offer assurance that type of performance will not continue over the long-term. In other words,
there is a light at the end of the tunnel and it is not a train.
The current state of the real estate market has been compared to the Great Depression. He said it
is not pretty and some states and regions are suffering worse than others. Further, the sub prime
housing issue is not just an issue in the United States it is a global issue.
As of September 30, 2007 the total plan assets were $489 million and at one point they crossed
the $500 million or half billion mark. The total portfolio performance numbers are
approximately off 5%. The S&P is also off with up and down performance. He just wanted to
properly set the expectations of the Board. Oil has reached a historic level at $120.00 per barrel.
Trustee Bowman asked whether the emerging managers have come on board. Mr. Gray
confirmed that the following emerging managers have been added to the portfolio: Union
Heritage (Detroit), Atlanta Life (Atlanta), Lombardia Capital (Los Angeles), Piedmont
Investment Managers (Durham, North Carolina) and Alpha Capital (Detroit). He said that the
total allocation to emerging managers was $50 million with most managers demonstrating good
downside protection and providing better performance returns than most managers at large.
General Employees Retirement Regular Meeting, April 23, 2008 Trustee Bowman asked which manager is underperforming. Mr. Gray stated that Alpha Capital
is not performing well relative to the peer group.
Mr. Gray addressed the high turnover in the Oppenheimer portfolio and referred to a letter from
Geoff Mullen. He said he does not feel it is a concern at this point and that the trading, at least at
first glance, is benefiting the plan. Their turnover is much higher than other fixed income
managers but they are being nimble and their returns are up. He will evaluate the performance
relative to their trading costs in order to give a clearer picture of the high turnover figure.
He reviewed the asset allocation stating 55% is invested in domestic equity and 10% invested in
international equity totaling 65%. The allocation to fixed income is 25% with 5% allocated to
real estate and 5% to private equity.
He spent a full week in meetings in New York with various investment managers and economists
discussing the state of the market. He stated again that this will be a very difficult year due to
several macro economic concerns with have been discussed. There are no definitive predictions
about when to expect up performance in the equity markets.
Emerging markets continue to perform well. He suggested moving some of the domestic equity
into international equity, global real estate or to timber where some of the managers are returning
double digit numbers. He gave an example by which one real estate manager in New York sold
rooms at a W Hotel for $1 million per room. Global real estate is doing very well especially in
places like New York, London and Jakarta, etc.
Trustee Bowman said that trustees from the City of Detroit assist with investments in the City of
Detroit. They invested in the renovation of the Book Cadillac Building where suites are selling
for $1 million each. Those types of investments are good for the local economy.
He said despite what we are reading / have experienced in the real estate space, he does not want
to see the trustees turn away from this asset class.
This concluded Mr. Gray’s performance report.
Ms. Jimenez, Ms. Poehlman, Ms. Swazer and Ms. Wren left at 2:08 p.m.
Re: Chairman - None
Re: Secretary – None
Re: Trustees/Committees - None
General Employees Retirement Regular Meeting, April 23, 2008 Ms. Zimmermann distributed correspondence from Geoff Mullen of Oppenheimer Capital
regarding the high turnover in the portfolio and an article regarding how new changes in
accounting rules have hurt realty values.
ChrisKen Residential Trust
Ms. Zimmermann also distributed a copy of correspondence from ChrisKen regarding their final
distribution payment of $74,000. There could be another small payment pending a retroactive
tax issue that is currently under appeal in the State of Tennessee.
Retirement Coordinator Departure
Ms. Zimmermann advised the Board that Melissa Tetmeyer’s last day is April 30, 2008. She is
leaving the City to pursue a career as an echo technician. Her replacement is LaJuan Craft who
started this week.
She proposed to the Board that Ms. Tetmeyer come in two days per week for one month to assist
with Ms. Craft’s training since there were only five or six training days before her departure.
Trustee Scott questioned why this was brought before the Board. Ms. Zimmermann said that
because it is an expense paid out of the retirement fund she would not move forward without the
Trustee Wright asked what her hourly rate would be. Ms. Zimmermann said that the hourly rate
would not exceed her current rate.
Trustee Scott said that from a labor standpoint it is considered union work and Ms. Tetmeyer
would no longer be a member of the union. Trustee Woods said that should not be an issue
because it was a promotion for Ms. Craft. Trustee Scott said he would check with the union to
make sure they do not have an issue.
Ms. Billings suggested that the Board approve the motion pending the union findings.
Trustee Bowman said that normally when an employee comes back as a temporary employee
their compensation drops. Trustees Wright and Woods commented that is not always the case.
RESOLUTION 08-018 By Williams, Supported by Scott
Resolved, That the Board approve Ms. Tetmeyer to return as a temporary employee not to
exceed two days per week for one month to train the new Retirement Coordinator at 90% of her
current pay rate.
Plan Documents Ms. Zimmermann notified the Board that on March 10, 2008 the Human Resources Director and City Attorney requested copies of the plan documents. PAS Forms General Employees Retirement Regular Meeting, April 23, 2008 Ms. Zimmermann told the Board that Human Resources has informed the Retirement Office that
they will only provide PAS Forms for permanent regular employees. They will no longer supply
copies of temporary PAS Forms. A memorandum was sent by the Chairman of the Police and
Fire Retirement System regarding the issue. Human Resources replied with a memorandum
stating that they are reviewing the process.
GFOA Accounting Academy
Ms. Zimmermann requested if she could attend the GFOA Accounting Academy being held in
Chicago on August 18-22, 2008. She is wait-listed for the session being held on May 5-9, 2008.
This would be beneficial given the number of governmental changes over the past few years.
RESOLUTION 08-019 By Woods, Supported by Wright
Resolved, That the Board approve Ms. Zimmermann’s attendance at the GFOA Accounting
Academy being held August 18, 2008 through August 22, 2008 with the costs to be paid from
the investment earnings of the Fund.
CAPROC, LLC - Sale of One Michigan Avenue
Ms. Billings reported that the property at One Michigan was sold. She referred to
correspondence included in the legal report. The property sold for $9.1 million with CAPROC
receiving approximately $428,000.00 at the closing and a promissory note in the amount of
$450,000.00 at 10% interest.
The funds are to receive 60% or approximately $256,000 of the initial closing with the Police
and Fire Retirement System receiving $143,000.00 and the General Employees Retirement
System receiving $113,000.00 with the remaining 40% going to CAPROC.
The promissory note calls for CAPROC to receive scheduled principal payments of $120,000
with interest on May 1, 2008, August 1, 2008 and November 1, 2008 and a final payment due
one year from the date the note is signed. A security interest in the Promissory Note was filed to
insure that the systems collect their share of the payments.
CAPROC Annual Meeting
CAPROC’s annual meeting was held on April 22, 2008. Lora Lauer attended the meeting which
lasted approximately one hour. It was reported that there are prospects on selling the Florida
properties. She will provide a written report of the meeting.
At the March, 2008 Police and Fire Retirement System meeting the property valuations for the
three remaining properties was discussed. Ms. Billings referred to the attached copy of the
appraisal included in the legal report. If the appraisals are accurate, the gross value of the
remaining three properties is $80 million with a net value of $40 million after payment of the
General Employees Retirement Regular Meeting, April 23, 2008
She said that her firm is recommending that the Board authorize inspections of the properties to
verify valuations and tenant improvements. She said that Stuart Tompkins proposed going along
with a real estate expert to inspect tenant improvements. The approximate cost to retain a real
estate expert would be $100.00 per hour.
RESOLUTION 08-020 By Wright, Supported by Bowman
Resolved, That the Board approve Stuart Tompkins from Sullivan, Ward, Asher & Patton, P.C.
and an expert to complete an inspection to confirm appraisals and tenant improvements of the
CAPROC owned properties in Florida.
Standard Pacific Securities Litigation
Ms. Billings reported that on December 3, 2007 the General Employees Retirement System was
appointed lead plaintiff in the Standard Pacific litigation. Both parties are proceeding through
the initial discovery process.
Sunterra Securities Litigation
Ms. Billings reported that on March 19, 2008 mediation was held in connection with the
minimum settlement authority of $10 million. She requested that the Board authorize Coughlin
Stoia to settle for not less than the $10 million. The litigation is proceeding through to trial.
RESOLUTION 08-021 By Bowman, Supported by Wright
Resolved, That the Board ratify the settlement proposal for a minimum of $10 million in the
Sunterra Securities Litigation.
Tetra Technologies Inc. Securities Litigation
Ms. Billings reported that the General Employees Retirement System lost $90,000.00 and the
Police and Fire Retirement System lost $50,000.00 in Tetra Technologies, Inc. These losses
occurred because the officers and directors of Tetra Technologies, Inc. issued materially false
statements and did not disclose facts that led to a major drop in the price of their common stock.
Due to the significant loss Coughlin Stoia is recommending that the Retirement Systems
combine their losses and pursue lead plaintiff status.
RESOLUTION 08-022 By Woods, Supported by Wright
Resolved, That the Board authorize the Vice Chairman to sign the Retainer Agreement and
authorize Coughlin Stoia to pursue lead plaintiff status in the Tetra Technologies, Inc. Securities
Schering-Plough Corporation Securities Litigation General Employees Retirement Regular Meeting, April 23, 2008 Ms. Billings reported that the General Employees Retirement System lost approximately
$350,000.00 in the Schering-Plough Corporation litigation. Schering-Plough manipulated drug
testing results for their two leading cholesterol drugs Vytorin and Zetia. They withheld adverse
information related to the safety and efficacy of those drugs during the class period causing the
stock to be artificially inflated. In January, 2008 they revealed critical information that Vytorin
was not as safe or effective as previously stated.
Coughlin Stoia is recommending that the system apply for lead plaintiff status due to the
significant loss. This action needed to be filed prior to the system’s meeting, so the Secretary
signed the Retainer and Certification Agreement on behalf of the Board. Ms. Billing requested
that the Board ratify the Chairman’s signature on the Retainer and Certification Agreement.
RESOLUTION 08-023 By Cochran, Supported by Woods
Resolved, That the Board ratify the Chairman’s signature on the Retainer and Certification
Agreement in the Schering-Plough Corporation Securities Litigation.
Agreement with Loomis Sayles Ms. Billings reported that Loomis Sayles has made an amendment to their fee schedule that was in need of updating. The account is currently being billed in arrears but the fee schedules states that it is to be billed at the beginning of the quarter. They are changing the date from the end of the month to the first of the month. Trustee Bowman asked if this changes the percentage of the amount billed. Mr. Gray said that it would not change the fee and he has never seen a fee schedule that was not billed on the first day. It is normal to pay in advance of the quarter. Ms. Billings said she could find no legal issue with the amendment. IFEBP Article Titled Securities Litigation: Are Fiduciaries Leaving Money on the Table? Ms. Billings provided the attached article for the trustees’ information. She said that the article published by the IFEBP is a primer on securities litigation. She stated that the Board is complying 100% with their fiduciary responsibilities by pursuing securities litigation to protect employee benefit plan assets. Retiree Health Care Ms. Billings reported that the Police and Fire Retirement System has raised the issue regarding the City moving assets from the pension fund to pay for retiree health care. She is preparing a legal opinion to address the issue. FOIA Ms. Zimmermann asked that Ms. Billings explain the latest FOIA request. Ms. Billings explained that Ms. Zimmermann received a FOIA request from a research firm out of Chicago. They requested information regarding the custodian. The purpose of the statute was to provide residents of Michigan with information regarding their government. An argument could be made that the system does not have to comply with an out-of-state request. However, she felt that General Employees Retirement Regular Meeting, April 23, 2008 given the fact that the information requested in the FOIA was not exempt from disclosure, it
would not be worth the legal fees if challenged.
That concluded Ms. Billing’s legal report.
Union Representatives – None
Trustee Phillips left at 2:52 p.m.
Re: Employee Trustee Election Results
Ms. Zimmermann welcomed Trustee Woods back to the Board. She said that Trustee Woods ran
unopposed for the employee-trustee position.
RESOLUTION 08-024 By Bowman, Supported by Williams
Whereas, a vacancy will occur on the General Employees’ Retirement System Board of Trustees
when the Employee-Trustee term expires on march 31, 2008; and
Whereas, all members of the system have been given the opportunity to file nominating petitions
for the vacant trustee term; and
Whereas, only one nominating petition has been filed for this vacancy;
Now, Therefore, Be it resolved, that the Board of Trustees hereby declares that Debra Woods, an
employee of the City of Pontiac, having met all requirements to serve as Employee-Trustee, is
officially elected to the office of Employee-Trustee for a term beginning April 1, 2008 and
expiring on June 30, 2012.
Re: Retiree Trustee Election Results
Ms. Zimmermann welcomed Trustee Barnett back to the Board. She stated that Vice Chairman
Sauceda was the official canvasser and certified the vote tally for the retiree trustee election. She
requested that the Board receive and file the canvasser certification of the vote tally for the
retiree trustee election.
RESOLUTION 08-025 By Wright, Supported by Bowman
Resolved, That the Board receive and file the Official Canvasser Certification of Votes for the
Retiree Trustee Election.
General Employees Retirement Regular Meeting, April 23, 2008 Re: Hospital Deferred Trustee
Ms. Zimmermann said that at the last meeting she notified the Board that James Seibert had been
elected as the Deferred Trustee to replace Robert Giddings. She explained that Mr. Seibert came
into the Retirement Office after being sworn in and obtained a trustee handbook and she
provided a brief overview of trustee duties. When he was leaving, it was discovered that he is in
pay status and receiving a benefit from the system, therefore, he is not eligible to be the Deferred
Trustee. The hospital was notified of the issue. She would like to table this agenda item to the
RESOLUTION 08-026 By Woods, Supported by Scott
Resolved, That the Board table the Hospital Deferred Trustee agenda item to the May, 2008
Re: Citizen Trustee Williams Reappointment
Ms. Zimmermann welcomed Trustee Williams back to the Board and asked that the Board
receive and file the City Council Resolution reappointing Kevin Williams as Citizen Trustee.
RESOLUTION 08-027 By Woods, Supported by Wright
Resolved, That the Board receive and file the City Council Resolution reappointing Kevin
Williams as Citizen Trustee.
Re: Kenneth Smith Disability
Ms. Zimmermann explained that Kenneth Smith has been scheduled for two disability re-exams
and has not shown up at either appointment. He called after the first missed appointment to say
he was in the hospital and unable to make the appointment. Ms. Tetmeyer scheduled a second
appointment and Mr. Smith did not show up for that appointment either. His wife called two
weeks after the missed appointment stating that her husband was incarcerated at the time.
Ms. Zimmermann stated that copies of the correspondence (including policies and the ordinance
section) sent to Mr. Smith are included in the agenda packet. The correspondence was sent to
the member via regular and certified mail.
At this time Mr. Smith has not complied with the requirements for re-examination. She asked
that the Board provide direction regarding this member.
Trustee Woods said that if the member is not complying with the requirements and has been
properly notified the Board should stop his pension benefit until he complies.
General Employees Retirement Regular Meeting, April 23, 2008 RESOLUTION 08-028 By Woods, Supported by Williams
Resolved, That the Board approve the suspension of Kenneth Smith’s disability benefit until the
member has complied with the re-examination requirements.
Re: Employee Trustee Travel
Trustee Wright stated that she is having an issue with the Mayor not approving her travel to
attend educational conferences. She sent Chairman Harrison an email regarding the issue with
no reply, as well as speaking with her supervisor, Trustee Cochran.
She feels that the Employee Trustees on the Board are being singled out and cannot do the things
the other trustees can do. She has not been given a reason why she cannot attend the conference.
Trustee Cochran said based on the criticism received regarding the Hawaii trip and the City of
Detroit, the Mayor feels out-of-state travel especially to exotic locations is not appropriate.
Trustee Wright said that the Mayor has approved out-of-state education seminars for other
employees and she would understand if this policy applied to all employees.
She would have liked to resolve the issue today but the Mayor left the meeting. Trustee Woods
said she is no longer fighting the issue. She won a grievance regarding this same issue and the
Mayor is not honoring it.
SCHEDULING OF NEXT MEETING
Regular Meeting: May 28, 2008 at 1:30 p.m. in the Shrine Room of City Hall.
RESOLUTION 08-029 By Wright, Supported Scott
Resolved, That the meeting be adjourned at 3:12 p.m.
I certify that the foregoing are the true and
correct minutes of the meeting of the
General Employees Retirement System held
on April 23, 2008.
Raymond Cochran, Secretary As recorded by Jane Arndt General Employees Retirement Regular Meeting, April 23, 2008
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