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EMPLOYES' RETIREMENT SYSTEM OF THE CITY OF MILWAUKEE

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					    EMPLOYES' RETIREMENT SYSTEM OF THE CITY OF MILWAUKEE
                  ANNUITY AND PENSION BOARD

                  Minutes of the Special Meeting held January 22, 2001

The meeting was called to order at 9:02 a.m.

Board Members Present:               Gary J. Brazgel, Chair
                                     Patrick J. Cronin
                                     Edward Heidemann
                                     W. Martin Morics

Board Members Not Present:           William C. Carey (Excused)
                                     Alvin Madison (arrived later in meeting)
                                     Michael J. Murphy (arrived later in meeting)
                                     Marvin E. Pratt (arrived later in meeting)

Retirement System Staff Present:     Anne M. Bahr, Secretary and Executive Director
                                     Martin Matson, Deputy Director
                                     Jennifer Shannon, Chief Financial Officer
                                     Jon Granger, Information Systems Manager
                                     Suzanne Fortier, Board Stenographer

Others Present: Hattie Billingsley, LRB; Greg Borowski, Milwaukee Journal/Sentinel;
Michael Castle and Floyd Connell, Arthur Andersen; Paul Claybaker, Charter
Consulting; Bradley DeBraska, MPA; Eugene Duffy, John Fuchs, Timothy Hawks and
Barbara Quindel, Global Settlement Class Counsel; Konrad Ellenberger and Edward
Kunicki and Jeanette Wilke-Ziarnik MPSO; James Greer and Dwight Ellis, Whyte
Hirschboeck Dudek; LaQuisha Harrell, Budget Office; Thomas E. Hayes, Special Deputy
City Attorney, Donald Sanford and Scot Marcotte, Buck Consultants; Joseph Sullivan
and William Fris, AXA Advisors; Gil Vosswinkel, Assn. of Retired City Employees.

Due to the lack of a quorum, the meeting convened as a sub-committee.

Status Report on Global Pension Settlement Agreement. As a matter of information,
Board members received a copy of a Report on Implementation of Global Pension
Settlement Agreement, a Status report on the military service credit, a copy of the Global
Pension Settlement lump sum payment processing approach, and list of the different
types of data problems. Mr. Claybaker and Mr. Granger discussed the following:

           •   ERS continuing to work on the top ten tasks. Staff reported on the
               following:
                   o Federal Law Compliance No. 1 and 2/Attorney Fees
                   o Participant Benefit Analysis and Implementation Order
                   o Communications Plan
                   o Project Management Team
                                                                           1/22/01 Special

           •   ERS has initiated ten additional activities:
                 o Implementation Approach/Coordinating Committee
                 o Business Process Models Modification Proposal
                 o Lump-sum Payment Processing Approach
                 o Pension Benefit Calculator
                 o Data Remediation
                 o Mainframe Application Modifications
                 o Consent Information Status
                 o Military Service Credit Bonus
                 o Fire & Police Survivorship Deductions
                 o Overpayment Notification Audit

Discussion ensued throughout the presentation.

(During the above discus sion, Mr. Pratt arrived at 9:07 a.m. and Mr. Madison arrived at
9:14 a.m.)

The meeting convened as a Special Meeting at 9:07 a.m.

Discussion ensued with respect to the City Attorney’s legal opinion on Global Settlement
Implementation Questions, dated January 5, 2001. ERS staff members answered
questions from Board members and people in attendance regarding implementation.

(At this point the agenda was taken out of order.)

       Approval to Refer Proposals for Project Management to the
Information/Automation Committee. After discussion, it was moved by Mr.
Heidemann, seconded by Mr. Morics and unanimously carried, to approve referral of the
Proposals for Project Management to the Information/Automation Committee for review
and recommendation to the full Board.

       Approval of Whyte Hirschboeck Dudek to Represent the Board on
Attorney’s Fees. As a matter of information, Board members received a copy of a letter
from the City Attorney’s Office, dated January 11, 2001, which indicated the City
Attorney’s Office had a conflict in representing the Board with respect to attorney’s fees.
Mr. Fuchs and Mr. DeBraska addressed the Board on this matter. After discussion, it was
moved by Mr. Morics, seconded by Mr. Cronin and unanimously carried, to hold this
item for discussion during the Annual Meeting, which would immediately follow the
Special Meeting.

        Approval of Buck Communications Plan. As a matter of information, Board
members received a copy of a draft of the City of Milwaukee Employes’ Retirement
System GPS Communication Plan, dated January 16, 2001. Mr. Sanford and Mr.
Marcotte, representatives from Buck Consultants, handed out a bound copy of the
Communication Plan, dated January 22, 2001. After discussion, it was moved by Mr.
Heidemann and seconded by Mr. Morics, to approve the Communications Plan submitted
by Buck Consultants, and refer the overall contract negotiations back to staff. After
further discussion, the motion carried.

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                                                                       1/22/01 Special
        Approval of Contract(s) for Business Process Modeling under Global
Pension Settlement Agreement. After discussion, it was moved by Mr. Morics and
seconded by Mr. Madison, to approve that Arthur Andersen continue to perform cross-
indexing and process models updates under the Global Pension Settlement, under a not to
exceed contract for $1,877,280. The motion carried with Mr. Brazgel being recorded as
objecting.

There being no further business, it was moved by Mr. Morics, seconded by Mr.
Heidemann and unanimously carried, to adjourn the meeting at 10:55 am.



Anne M. Bahr
Secretary and Executive Director




(NOTE: All proceedings of the Annuity and Pension Board Meetings and related
Committee Meetings are recorded. All recordings and material mentioned herein are on
file in the office of the Employes’ Retirement System, City Hall, 200 E. Wells St., Room
603.)




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