12-15-2008 Police Pension Bd MinutesCLERMONT POLICE OFFICERS PENSION BOARD OF TRUSTEES
Minutes for December 15, 2008 meeting
Meeting called to order at 4:00 p.m.
Trustees Present — Chairperson Gary Holmes, Member Keith Mullins, Member Scott Tufts.
Others Present —Joe Van Zile
Proceedings:
• Minutes of previous meeting approved
• Discussion was held regarding the actuarial study of raising multipliers. There was some
confusion as to costs of the studied proposals. Chairperson Holmes is to speak with the
actuary to clarify the study.
• A discussion was held concerning the excess 185 funds in the plan.
• A discussion was held regarding the administration of the fund. Chairperson Holmes
expressed concern about the liability and lack of control of the funds. It was pointed out
that Trustees of the fund are personally liable for the performance and administration
of the fund. It was moved by Member Tufts to obtain proposals from attorneys for legal
counsel to the board, with the motion seconded by Member Mullins.
Meeting was adjourned at 4:49 p.m.