Retirement Advisory Board 10/23

The Retirement Advisory Board met tonight and there were a lot of people there, including the Town Manager.

Here is a breakdown of the plan's $52 million in assets as of September 30, 2008:And here is a breakdown of the plan's $60 million in assets as of June 30, 2008: Also worth mentioning... I think there was a cash injection of $200,000 on July 1. And again, I asked for the June 30 2008 liabilities, but was told that they're still unavailable.

Anyway, it's late and I'm not getting into the details now, but the conversation was interesting... though at one point I decided that I was hearing too much Happy Talk and chimed in myself. I pointed out that while some people were suggesting the market may have bottomed out... I see absolutely no reason to believe that... and that's totally independent of my Gold Standard school of thought. Rather, I think common sense says that no one truly knows if the market is going up or down... so there's no reason to keep up with the Happy Talk.

Finally, no action was taken... though there was discussion regarding how "quick action" could be taken if deemed necessary in the near future.

Tim White