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Which is what they did in that quarter, but as you can see here this quarter the stock portfolios helped and drove returns.  Lastly, with the economic events from 2008-2010 , bonds have done well, but this has come at the expense of driving down interest rates, so in this extremely low interest rate environment, we can expect that future returns will need to come from over assets classes, not fixed income, if we wish to achieve the 7. --After reading pages 2-9, what one area accounts for this decline and when can we expect to recoup this quarters lost and perhaps make some gains? I certainly understand there are no crystal balls when dealing with the stock market, but allegra d 24 hour ingredients would like your best estimate. In other words, how would I justify this quarters lost to those with vested interests in this plan? Well, I feel like I am cheating on the test as I have the benefit of the recent market movements to help me, as you can see in the quarterly report attached, the Plan re-cooped those losses and the Plan is up 5. So to your questions, these losses have been recouped. I would justify this to those with a vested interest by explaining that-- it is important to understand the long-term nature of the Plan and that quarterly movements may be allegra d 24 hour ingredients negative, but we believe over the long-term in order to achieve our earnings goal, we have to incorporate elements of risks, like stocks into the Plan. We can offset these risks by diversifying the portfolio across other asset classes, so we seek to achieve our earnings goal with as little risks as possible, unfortunately that is a required trade-off. --What allegra d 24 hour ingredients steps, if any or necessary, have been taken to address the portfolio’s allegra d 24 hour ingredients decline? What steps should be allegra d 24 hour ingredients taken to make sure the pension allegra d 24 hour allegra beck versace anorexic ingredients fund takes advantage (at a comfortable level, not too aggressive) of what allegra d 24 hour ingredients appears to be a growing (albeit slow) allegra d 24 hour ingredients economic trend? As I mentioned, we have actually added new asset classes including international equity and inflation-protected fixed income, and an actively managed bond portfolio vs.

I feel that these changes will help the Plan achieve its returns over the long-term, I actually have concern about fixed income in this low interest rate environment, and feel comfortable with the active manager who can help us in the bond portfolio and protect us if rates start to rise, as well I feel the international equity portfolio will assist with creating more opportunities for returns. These changes I do not believe would be consider (too aggressive) but I feel can each add value to the Plan and assist with achieving our goals. I hope all of this allegra d take helps, and again I sincerely appreciate the questions. Please let me know if there is anything else that I can do to help—and I will look forward to further discussions with you in the future.

Dan Pension Advisory Committee Meeting, 02/09/11 -A +A ALACHUA COUNTY LIBRARY DISTRICT PENSION ADVISORY COMMITTEE AGENDA DATE:   WEDNESDAY – FEBRUARY 9, 2011 TIME:   3:30 PM PLACE:   HEADQUARTERS LIBRARY FOUNDATION ROOM, 401 EAST UNIVERSITY AVENUE, GAINESVILLE, FL I.   UNFINISHED BUSINESS       (There were no items submitted in this category. Introduction of Regions Morgan Keegan Trust Representative – Mr.

 Alachua County Library District Pension Trust Fund Performance Review – for the Period Ending December 31, 2010 – Mr.

Defined Benefit Actuarial Valuation Report as of October 1, 2010 – Ms.



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