Quarterman Questions Douglas County Pension Plan

From: James Quarterman, Democrat Candidate for Douglas County Ga. Chairman

Chairman (Tom) Worthan:

It has come to my attention that the county plans to transfer the 50 to 60 million dollars county retirement plan over to GEBCOR as of July 1, 2008. It is also my understanding that GEBCORE is a division or agency of the Georgia County Commission Association.

It is my understanding that if this transfer is allowed, isn’t it going to cost each employee up to $400.00 per year in fees and cost the county an additional $130,000.00 a year?

My question is how can you transfer 50 to 60 million dollars without any bids or due diligence of service to protect this fund balance. And isn’t all this being done so that the county can use its employee’s retirement and pension to secure and anchor future debt to build a new county jail and other projects?

I would also like to know why employees have a pension and retirement plan. Meaning when they retire won’t they get their 401k and a pension? Isn’t that kind of double dipping at the taxpayers’ expense?

Can you please explain why and how elected official are covered under this new pension plan and what is the vested period and percentage of salary they receive under the plan?

Can you please forward the Record Request below to have the request documents prepare for inspection and or copying or forwarded to me, and I would appreciate your written response to the questions asked above.

Thank You,

James Quarterman

OPEN RECORD REQUEST June 11, 2008
James Quarterman

Dear Mrs. Becky L. Hébert

Pursuant to the Georgia Open Record Law (O.C.G.A. 50 – 18 – 70 et. seq.) you are hereby requested to make available for review and copying all files, records and other documents in your (the County) possession that refers, reflect or related to:

1) Contracts with GEBCOR to transfer funds including all fees. (Both Pension and 457/401(a))
2) Pension and 457/401(a) Committee minutes for last 12 months.
3) Most recent investment returns for GEBCOR’s pension plan, and the County’s Current DB Plan Provider.
4) Any fee comparisons made between current 457/401(a) plan vendor and GEBCOR.
5) Details showing total ending believed 13 million dollar fund balance – investment paid into county Pension Plan since 2006 – amount contributed by employees and amount contributed by county.
6) Copy of all bids receive regarding the fund transfer or statement of why no bids were advertised.
7) Copy of advertisement for bid notice.

If this request is denied in whole or in part, I ask that you cite in writing the specific statutory exemption upon which you have relied, as required by law. I also ask that you release all separate portions or otherwise exempt material. Please waive any costs associated with this request, or first inform me about such costs as required by Georgia Law.

As you know, the law requires a response by you within three business days of your receipt of this letter (email) and provides sanctions for non-compliance. I look forward to hearing from you.
Sincerely,

James Quarterman

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