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:LQWHU²ZZZQFVIFRP Minutes of the quarterly meeting of the Board of Directors of National Catholic Society of Foresters. Thursday, December 4, 2014 The December quarterly meeting of the Board of Directors of the National Catholic Society of Foresters was called to order by National President Margaret Schmitt on Thursday, Dec. 4, 2014 at 2:00 p.m. in the Home Office board room. Board Spiritual Director Father Fred Licciardi led the group in prayer and meditation. The Pledge of Allegiance to the flag of the United States of America was recited and roll call was taken. Present were National President Margaret Schmitt; National Vice President Sally Egan; National Secretary Catherine Hensel; National Treasurer Lisa Bickus; also present were National Directors David Bonacker, Terence "Patrick" Coleman, Jeanne Filipp, Linda Ortiz, Sandra Troyanoski, Maria Tupaz, and Jane Uselman. Also present was Executive Vice President John "Jay" Schenk. The proposed agenda was reviewed. A motion was made by Jeanne M. Filipp, second, by Lisa M. Bickus that the Board of Directors accept the agenda for the December 2014 board meeting with additions of the oath of office and unfinished business for the 401k plan mechanism and decision. Motion adopted 11-0. NATIONAL SECRETARY'S REPORT The National Secretary's report was given by National Secretary Cathy Hensel, which included motions and votes that were completed between the quarterly meetings. Jeanne Filipp brought forward corrections to the September board meeting minutes. The paragraph that starts the "National Treasurer's report was given" should read as "The National Treasurer's report was given by Frank Janczak." As Controller, Frank also reported on second quarter (Q2) financial results. On a motion made by Jeanne Filipp, and second by David Bonacker, the Board voted unanimously to approve the Q2 2014 NCSF Investment Guideline Verification as presented. NATIONAL TREASURER'S REPORT The National Treasurer's report was given by the National Treasurer Lisa Bickus. Included was information on our investments. COMMITTEE REPORTS Reports were available prior to the meeting. Any report that did not need additional action was accepted. Audit Committee: Report was given with no changes required. Bylaws and Constitution Committee: Reported that they have heard from the Illinois Department of Insurance, with a few minor changes on the wording of the new constitution. These changes will be made and resent to the state for verification that their changes were made. Finance Committee: Report was given, with a list defining the duties of financial oversight of all aspects of the business. Information Technology Committee: Lisa Bickus and Jay Schenk gave an updated report of the progress on finding a vendor for a new Policy Administration System. Lisa Bickus of the IT committee presented a motion that Andesa will provide our Society with a new Policy Administration System, New Business Portal and Illustration Software. The implementation fee is $250,000 to be paid in five installments over two years. In addition, there is a monthly fee of $13,900 for the first two years and then $14,900 a month in year three and thereafter. Motion adopted 11-0. Marketing Committee: Nothing to report at this time. Investment Committee: The committee report included a list of objectives for their committee. Motion presented by Jeanne M. Filipp that NCSF utilize Parkway Advisors as our Investment Advisors in 2015, 2016 and 2017 beginning Jan. 1, 2015, at an annual fee of 10 basis points on assets under management. Motion adopted 11-0. Motion presented by Maria Tupaz, that NCSF utilize Raymond James Bank, NA as Custodian of Assets at no cost to the Society for three years (2015, 2016 and 2017) starting Jan. 1, 2015. Motion adopted 11-0. Personnel Committee: This committee's report was tabled until Friday. FRATERNAL REPORT Fraternal report was provided by Karen Kruger for the Board review. Fraternal Committee: Recommendations from this committee were tabled until Friday. From the National Secretary continued on page 8