HomeMy WebLinkAbout01/24/2005 PPB MinutesVillage of Mount Prospect Police Pension Board
Regular Quarterly Meeting
January 24, 2005
BOARD MEMBERS PRESENT: SAVIANO, ROSENBARSKI (Quorum Not Present)
OTHERS PRESENT:
Richard Potter (Pension Fund's Financial Advisor)
David Erb (Village Finance Director)
Thomas Radj a (Pension Fund's Attorney)
Saviano called the meeting to Order at 2:28PM.
Presentation by Joel Babbit, Tony Halachoulis and Tim Schoolmaster of IPPFA on their
organization.
Minutes of October 25, 2004 Regular Meeting
Deferred until next meeting
Treasurer's Report
Read but not voted on due to lack of a quorum
Becker, Burke Associates Report
Richard Potter reviewed his report, which explains the fund's investment performance for the
fiscal 4th quarter ending December 31,2004
Discussions included reducing Dodge & Cox Fund and Guardian Fund to American World
Growth, Morgan Stanley and Ariel Capital Funds as follows:
- Increase Morgan Growth Fund $200,000
- Increase American Fund World Growth Fund by $300,000
- Increase Ariel Fund by $200,000
No official vote taken due to lack of a quorum.
Discussed having Capital Gains in to do a presentation at the April 25, 2005 meeting.
MOTION TO ADJOURN: I'`. — Saviano
2na -Rosenbarski
Passed 2-0
MEETING ADJOURNED: 3:20 p.m.