Rotary is an organization of business and professional persons united worldwide who provide humanitarian service, encourage high ethical standards in all vocations and help build good will and peace in the world.

"Doing good in the World is more than a motto.  It is our goal, our mission, and our reminder.  It expresses in the clearest terms why we have a Foundation, and it challenges us to reach as far as we can to do the most good possible with everything we have.  Our Foundation exisits to support the good that we can do through Rotary.  It expands our reach, increases our strength, and makes our service more powerful and more effective.  Because of our Foundation we can, very simple, do more of our Rotary work."

2004-2005

President Glenn Estess Sr. 

President, Kevin Dewaele, opened the meeting with the Pledge of Allegiance followed with a prayer by Don Johannes.

 ANNOUNCEMENTS

• Kevin Dewaele sent around a sign up sheet for people to volunteer on a committee to help with the float and Milestone Walk at the Jubilee celebration.
• Rotary Board meeting will be held on Thursday at 8 a.m. at Kevin's office on the Square.
• Next week we will have lunch at Michaels Restaurant and then go over to Steve Schmitt Chevrolet for the car raffle drawing.
• Car Raffle: We have sold 415 tickets so far.Just one week left to sell tickets!

Our fiscal year 2013 goal is to increase membership by 4% for a total of 72 members. We need to focus on retention, as well as recruitment. We currently have 70 members.

Please remember to read the Fling to see who has missed a meeting. Reach out to members you know haven't made it to a meeting in a while and encourage them to come back and join us. If you know someone who might be interested in becoming a member of our Club, please see Cliff.

Guests: Joann Barton and Kevin Doak (Bank of Edwardsville)

Make-ups: None

Birthdays: Don Johannes (8/1) and Jennifer Whitten (8/4)

Anniversaries: None

Club Anniversaries: Jon Greve (21 years), Bob Nagel (27 years), Wayne Steiner (17 years)

Please let these people know that they were missed: Dave Daiber, Len Daiber, Bob Englemann, Dan Fieker, Mike Gould, Bret Gruender, Robert Hagerman, Luke Harris, Roland Harris, Ron Hesson, Katrina Hodous, Lisa Hunsche, Angela Kim, Jack Klaus, Rich Knebel, Brian Knobloch, Kelly Korte, Terry Leitschuh, Henry Metzger, Greg Miranda, David Peters, Keith Poss, Jim Rankin, Jr., Mark Reaka, Brad Rench, Adrian Rogier, Bill Schaefer, Ron Schneider, Art Schutz, Peggy Sebastian, Wayne Steiner, Michael Sutton, and Jennifer Whitten.

Reminder that 2012-2013 we will be tracking service hours again to see Rotarians' collective IMPACT.  This year's goal is 5000 hours. We currently have 68 hours.

The float is at Mark's shed and ready to be worked on for the parade. We need to find a design and then put together a committee to work on the float. If you are interested, see Mark.

 We also need some people to volunteer to put together a booth for the Milestone Walk.

There is a blood drive at St. Joseph's Hospital on Wednesday, Aug. 1 from 2-6 p.m.

A volunteer sheet was passed around to help usher at the Hard Road Theater prouctions on Saturday and Sunday. Another sheet was passed around to volunteer at Street Art Festival.

Members can go to the website and log your hours or email them to him directly: swconstruct@agtelco.com

There was $744 in the pot this week. The 10 of hearts was drawn.

Phil fined everyone who didn't recruit a new member. Kevin Dewaele was able to draw from a deck of 25 to try to pull out the joker and win the new pot that was started by the Rotary Board with $100. This is part of the incentive developed to increase membership.

Promotional Bucks:

Tricia Blasdel reminded us that Relevant Care Center needs help with the 5k run they have coming up on Sept. 8. We will use this as a community service project and will need 15-20 people to serve as marshals.

 Joann Barton and Kevin Doak joined us to discuss the new 401k reporting and fee disclosures that just went into effect this month.

There are regulations: 408(b)2 Employer Disclosures and 404(a)(5) Participant Disclosures.

The 408(b)2 Employer Disclosures were published Feb. 22, 2012 and were effective 7/1/12. In this regulation, the fiduciary of the plan gets the disclosures. Disclosures are provided by covered services provides, which are broken into three categories:

• Trustees
• Record keepers or brokers
• Any other service providers, such as legal or accounting fees

This regulation requires disclosure of who is acting as a fiduciary, any direct compensation paid by the plan, any indirect compensation paid by the plan, incentive compensation paid, termination charges, and record keeping costs.

Required investment disclosures include the name of designated investment alternatives, compensation charged against it, annual expense ratio, and ongoing expenses.

If regulations are not complied with, an excise tax of 15% may be imposed, due every year until corrected. Also, the service contract may be rescinded.

The 404(a)(5) Participant Disclosures was published in February and has two effective dates. The annual disclosure is effective 8/30/12 and the quarterly disclosure is effective 11/14/12.

This regulation applies to all participant directed 401k plans. Anyone participating in a plan, beneficiary of a plan, or anyone eligible for the plan (even if they have elected to not participate) must receive these disclosures. This disclosure is provided by the employer.

The regulation covers plan related information, as well as investment related information. Plan related information that must be provided includes general information, administrative expenses paid, and individual expense information. Investment related information includes identifying information, performance data, benchmark information, and fee and expense information.

Disclosures must also include a website address for each designated investment alternative, as well as a glossary of terms.

UPCOMING PROGRAMS -  George Jones

Wood River - St. John's UCC 12:00 PM

O'Fallon - Katy Cavins Community Center 12:00 PM

Alton-Godfrey - Alton Sports Tap, 3812 College Ave 6:00 PM