December 7, 2007

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City of Rockville Retirement Board

Thursday December 7, 2007
Black Eyed Susan Conference Room
2:30pm-5:00pm

I.	Appointment of Chairperson/Welcome new members to the committee (2:30-2:35)
	Attachment(s):	Memorandum presented by staff
II.	Approval of minutes (2:35-2:40)
	Attachment(s):	Minutes from meeting of June 14, 2007 Minutes from conference call July 16, 2007
III.	Review of Actuarial Valuation Report dated 4/1/2007 (2:40-3:00)
	Attachment(s):	April 1, 2007 Actuarial Valuation Report Presented by Michael Clark, Principal Financial Group
IV.	Review of quarterly performance report March 1 07 - June 30 07 (3:00-3:15)
	Attachment(s):	Analysis of Investment Performance Through June 30, 2007 Presented by Segal Advisors
V.	Review of quarterly performance report July 1- September 30 (3:15-3:45)
	Attachment(s):	Analysis of Investment Performance Through September 30, 2007 (TO BE DISTRIBUTED AT MEETING) Presented by Segal Advisors
VI.	Selection of Funds and Fund Managers (3:45-4:45)
	Attachment(s):	Recommendation from the Sub-Committee Presented by Segal Advisors
VII.	Discussion and Recommendation of Retiree COLA for 2008 (4:45-5:00)
	Attachment(s):	Memorandum presented by staff.
VIII.	Discussion for Future Agendas (June 2008 Board Meeting):
	Board Members Fiduciary Duties and Responsibilities (Deferred from October 2006) Board Members Liability Coverage (Deferred from October 2006) Pension Protection Act, 2006 (Deferred from October 2006) Review of quarterly performance report Oct 1- Dec 31 – Segal Advisors Review of quarterly performance report Jan 1- Mar 31 – Segal Advisors Review of DB Investment Policy – Segal Advisors Review of Educational Topic – Staff Review of Plans Vesting Schedules (Board Members can ask for items to be placed on the agenda)

Agenda
City of Rockville Retirement Board
Sub Committee Meeting
Thursday December 6, 2007
Black Eyed Susan Conference Room
12:00pm-4:30pm

LUNCH 12:00-12:30PM

I. Fund Manager Interviews – Small Cap Equity

Jennison     (12:30-1:00)
Manning    (1:00-1:30)
Wellington    (1:30-2:00)

BREAK 2:00-2:15PM

II.    Fund Manager Interviews – Real Estate

Morgan Stanley    (2:15-2:45)
Prudential        (2:45-3:15)
UBS            (3:15-3:45)

III. Deliberations and recommendations finalized for Board meeting. (3:45-4:30)

Attachment(s):

Memorandum From Segal Advisors dated 10/23/07.
Real Estate Manager Search
Small Cap Equity Manager Search