HomeMy WebLinkAbout10/16/2006 PBB MinutesMount Prospect Police Pension Board
Regular Quart rly Meeting Minutes
October 16, 2006
Meeting Called to order ay 2:00 PM.
Board Members Present:
Others Present:
Rosenbarski, Eddington, Halachoulis,
Saviano, and Kruchten
Jerry Marzullo, Carol Widmer, Richard Potter
1) Review of minutes from July 17, 2006 regular meeting.
Motion: (To accept minutes of the July 17, 2006 meeting)
1 St- Eddington
2nd- Saviano
Passed: 5-0
2) Treasurer's/Financial Report:
A) Review of financial statements and reports presented by Carol
Widmer. Saviano had a question about the amount of fees paid to
Segal Bryant and Capital Gains. Widmer explained the difference in
fees is due to the number of times each are paid during the year.
Motion: (To accept the Treasurer's Report)
1St: Saviano
2nd: Halachoulis
Passed- 5-0
B) Rick Potter from Becker Burke said that the fund's equities are slightly
above the 45% limit. Saviano asked if we could eliminate Ariel to get
the fund to 45%. Potter said we could not replace Ariel with another
manager because of the current status of the Sudan act. Since Sudan
was brought up, Potter was asked if the fund's managers had signed
the Sudan compliance letters. Potter said Ariel signed, Dodge & Cox,
Van Guard, Morgan Stanley, and American Fund said no to the
request. Segal Bryant did not respond.
Potter suggested we take the amount over 45% and put the money into
the fund's bond managers.