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MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM THREE YEARS ENDED JUNE 30, 2000 - page 12 / 16

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MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT SYSTEM HISTORY, ORGANIZATION, AND STATISITICAL INFORMATION

The Missouri Local Government Employees Retirement System (LAGERS) was created under an act of the 74th General Assembly, commenced actual operations on April 1, 1968, and is governed by Sections 70.600 to 70.755 of the Revised Statutes of Missouri. The LAGERS is an agent multiple-employer, statewide public employee retirement plan for units of local government. The LAGERS is a defined benefit plan providing retirement, death, and disability benefits to its members.

The responsibility for the operation and administration of the retirement system is vested in the LAGERS Board of Trustees, consisting of three elected LAGERS members, three employer trustees who are not members of LAGERS and are elected or appointed by the governing bodies of employers, and one trustee appointed by the governor, who is neither covered by LAGERS nor a member of a governing body of any participating political subdivision. All members serve four year terms. As of June 30, 2000, the members of the Board of Trustees were:

Name

Position

Jeffrey D. Moreland

Chairperson

J. Robert Ashcroft

Vice Chairpe

Dr. Donald E. Clark*

Member

Victor Gragg

Member

Nancy Yendes*

Member

Gary Findlay**

Member

rson

Membership Member Trustee Employer Trustee

Term Expires December 31, 2002 December 31, 2001

Employer Trustee Employer Trustee Member Trustee Citizen Trustee

December 31, 2000 December 31, 2002 December 31, 2000 December 31, 1999

  • *

    These members were re-elected for another term expiring in December 2004.

** Although term had expired, continued to serve until a new Citizen Trustee was appointed by the Governor in October 2000. Claire West currently fills the position of the Citizen Trustee. The term expires December 31, 2003.

As of June 30, 2000, one Member Trustee position was vacant due to the resignation of Steve Ellsworth during June 2000. The position was filled by Tara Calvin in October 2000.

William R. Schwartz serves as the Executive Secretary to the board. The Executive Secretary acts as advisor to the board on all matters pertaining to the system and, with the approval of the board, contracts for professional services and employs the remaining staff needed to operate the system. At June 30, 2000, the retirement system had twelve employees, including the Executive Secretary.

The Board of Trustees has appointed Gabriel, Roeder, Smith and Company, of Southfield,

Michigan as actuarial investments for the Chartwell Investment

consultants. LAGERS: Partners, of

As of June 30, 2000 the following investment managers held Barclays Global Investors, of San Francisco, California; Berwyn, Pennsylvania; Dimensional Fund Advisors, of Santa

Monica, California; Hansberger Global Investors, of Fort Lauderdale, Florida; Investment Management, of Austin, Texas; INVESCO Capital Management,

Hoisington of Atlanta,

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