Issue link: http://read.dmtmag.com/i/144562
In case you wish to monitor our MM funds, the symbols I am watching are: HEQIX (Harris Equity Fund), HSCIX (Harris Small Cap Opportunity Fund), MSEIX (Managers Special Equity Fund), and ACRNX (Acorn Fund). Those funds have lost over 152k in the last year or a return of about -2%. As of December 31, 2012 the market value for NCSF's bond portfolio was $167,792,620. Our current average replacement yield is 2.66%. "Average replacement yield" is a term that refers to the yield available if all current portfolio investments were replaced at today's values. The overall return on the portfolio was 5.25% annualized through December 31, 2012. Internal Operations The annual statement was completed on February 17th and filed on February 26th. • ohnson Lambert Co will return March 11th-22nd to work on J the final field work. • monitor the Wall Street Journal daily and I continue to I read weekly updates about the economy. • Daily CPA Finance" update letters, Nancy Webman from " "Pensions & Investments", and The U.S. Economic Outlook from Conning, also are very informational. • ontinuing to work with the Illinois Department of Insurance C Examiners. • s part of the findings of the examination, working on A developing a business impact analysis and disaster recovery plan. Fourth Quarter Financial Highlights • lease see accounting's financial report. P Other Board Business: • nformation about costs of product development and other I proposals. • pproval of annual statement. A National Secretary's Report National Secretary Patricia DeNys' report covered the following items for the months of December 2012, January 2013 and February 2013. • umber of Insurance and Annuity Certificates issued N • eath Claims paid on Life Certificates D • eath Claims paid on Annuity Certificates D • ash Surrenders on Life Certificates C • ash Surrenders on Annuity Certificates C • apsed Life Certificates L • ancelled Certificates C • eclined Certificates D • lacement of New Members in Courts P National President's Report • tate examiners arrived at the Home Office January 14th. S The exam will be approximately four months. • he state examiners interviewed all executive officers. T • he state IT examiner presented his final review on our T IT systems on February 14th. The state actuary examiner and the executive officers held a conference call with Lori Newberg, NCSF's actuary on March 5th. • isited four hotels for consideration for the 2014 National V Convention. A Marriott in Lincolnshire, IL, two Marriotts in Oakbrook, IL and a Holiday Inn Express in Palatine, IL. • eetings and conference calls were held with ADP. Options M for employee meetings were discussed. John Schnarr Safety Specialist will hold a safety presentation at our monthly employee meeting on March 13th. • en Schlott from Correll presented a 401K K investment update. • isited with representatives from Paychex. Paychex is a V professional employer organization. • elcomed the four insurance producers that attended the W sales summit held on February 7th. • isited with a few court presidents in Iowa and Minnesota V addressing their concerns and how we can assist them. State examiners joined the meeting for a question and answer period. The regular meeting of the Board of Directors recessed at 4:15 p.m. A closed session of the Board of Directors was held until 8:30 p.m. Thursday, March 14, 2013 The March quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by National President Margaret Babinat on Thursday, March 14, 2013 at 8:00 a.m. in the board room of the Home Office. All members of the Board were present except National Director Linda Ortiz. The meeting opened with prayer followed by the Pledge of Allegiance to the Flag of the United States. Executive Vice President Jay Schenk joined the meeting. Report from the Director of Accounting and Finance Re: NCSF 2012 Annual Statement Highlights continued on page 14 Summer 2013 — www.ncsf.com 13