Mark Frey of the Board of Pensions reported to Council. He reviewed the soundness
of the investment portfolios in light of the recent economic upheavals. 
Loses were 15.5% in the first 3 quarters, 7.5% since August. 
The fund came into the current period with very healthy reserves
and is very capable of paying pensions and other responsibilities. 
Statements are on the website.  The Board of Pensions has always
had conservative, long-term investment strategies and has no plans
to shift that now.

Healthcare benefits have been designed with good coverage and
concern for stewardship of costs.  As a result, there has been no
dues increase for several years.  It is strong with an emphasis
on personal health care.  Unlike the pension plan, it is funded
totally from current dues.  They keep an eye on Highmark and
Cigna, and have created a new patient advocate position for conflicts. 
There has been a $3 million savings to members & the plan by using
mail-order prescriptions.