NOTE THAT THE SMALL, MEDIUM, & LARGE REPRESNTATIVES ARE HOSTING A BRIEFING FOR THEIR CONSTITUENTS FROM 8:30 TO 9 AM --- PLEASE ATTEND!
EXECUTIVE COMMITTEE MEETING
Subcommittee Reports:
Standing in for Jeff Ristau, Al Hatten will review the key points of the Strategic Symposium and look to the Committee for feedback on the priorities for study and action. As a follow-up to the salary survey discussion at the previous meeting, Kara Turner has gathered salary data on part-time general counsels and proposed COLA for 2009. Board members are urged to review the consultant’s report on staff salary ranges (2008 Staff Salary Survey) which was adopted by the EC pending the full Board’s approval of the budget at the annual meeting.
Action Items:
(1) Review and adoption of the revised versions of the three remaining “CFMP” policies .
(2) Discussion and recommendation to the full Board regarding the petition of two potential new members.
(3) Renewal of General Counsel’s contract for a “3+ year” term until 12/31/2011 with annual salary adjustments.
Discussion:
(1) At least for me, new issues regarding the fiduciary oversight of retirement plans were raised by a presentation I attended at WFOA last week. I will provide a quick overview of the matter and ask the Committee to consider (1) establishing a best practices for this area of risk, and (2) exploring whether it is desirable (and possible) to jointly engage in fiduciary oversight of common plans.
(2) A brief overview of the proposed direction for IRM with an opportunity for feedback. If time becomes an issue, this discussion will be deferred to the next day, as it is also on the full Board agenda.
Executive Session:
An opportunity to provide Ron Franz feedback.
WORK SESSION:
Look forward to an educational afternoon: Listen to our actuary demystify underwriting, the Jerry & Al show on the proposed 2009 budget (to be adopted at the December annual meeting), and different activities at the properties.
DINNER “Musical”
Enjoy a nice meal, convivial conversation, and local musicians.
BOARD MEETING:
Staff Reports: Not to be missed: update from Tracey Christianson & Al Hatten on the IRM contract and direction and Rick Steddom on the financial market’s impact on AIG and other insurers.
Executive Session:
An opportunity to provide Al Hatten feedback.
Action Items:
(1) Bylaw changes to complete the transformation of WSTIP’s governance documents to the policy statement format.
(2) Address the petition of Pierce and the City of Union Gap for membership.
If there is time, there will be an opportunity to share what is going on at member properties.