The Delegates' Voice

Newsletter for the House of Delegates of AAPG

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NOVEMBER, 2001

GeoVest Retirement Savings Plan

by Terry Hollrah, Chairman-Elect

Approximately ten years ago, past-president Jim Gibbs initiated a 401(K) investment and profit sharing program for AAPG members. In late 1993 and early 1994, this program became effective under the management of the Retirement Trust Fund Group. This plan was moderately successful and was primarily used by small companies or self-employed individuals.

The problem with the original plan was that not all members of AAPG could participate and members who left larger companies could not transfer their 401(K) accounts. In April 2001, the AAPG Investment Committee (this group oversees all of AAPG's investments) met and recommended to the Executive Committee that the member retirement program be moved from the Retirement Trust Fund Group to Milliman USA, Inc. effective October 1, 2001.

Milliman USA, Inc. is now the record keeper for GeoVest. They have offices located in twenty-nine cities in the United States plus Bermuda, Hong Kong, London, Melbourne and Tokyo. Marquette Alliance, which has a long-standing relationship with the AAPG Pension and Operating Funds, will be the financial advisory group and provide the investment direction. Charles Schwab, Inc. will provide the investment choices.

Individuals will be able to choose from fourteen selected mutual funds such as value, growth, large cap, mid cap, small cap and international funds. The AAPG Investment Committee has approved all funds. The GeoVest funds will have the same-day exchange so participants can make trades at daily market close prices.

Milliman is dedicated to make this program work. Perhaps you have already met with their representatives at the conventions. Participants will be able to access their accounts through the Internet to find current balances, change contribution percentages, apply for loans or withdrawals, or redistribute balances among the funds offered.

This is truly an exciting program offered by AAPG. As past-president Gibbs states, "We may be the only professional society in the world with its own customized retirement savings plan."

For more information on GeoVest, contact Gerald Erickson with Milliman USA, Inc. at (800) 652-6672.

In this issue ...

Committee Reports:

> Nomination and Election
> Resolutions
> Constitution and Bylaws
> Deadlines for Business

> AAPG Members Initiate GEM Program
> AAPG Officer Nominations
> Meeting of the EC, AC, and the HoD Officers
> Membership
> GeoVest Retirement Savings Plan
> 16 YEARS AGO: Milestones for AAPG/HOD

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Visit the House Forum for Updates

The House officers and committee chairs will be posting on the House Forum more updates and additional information for the House meeting on March 10, 2002. Be sure to visit Delegate's Forum often, and discuss the issues with fellow delegates and AAPG members before the meeting.