HomeMy WebLinkAbout04/28/2009 PPB Minutes
MOUNT PROSPECT POLICE PENSION BOARD
Regular Quarterly Meeting Minutes
April 28, 2009
Meeting Called to Order at 2:04 PM
Board Members Present: Adamczyk, Erb, Halachoulis, Rosenbarski, Saviano
Others Present: Richard Reimer, Rick Potter, Jeremy Seeman, Brian Floyd
1) Reviewed minutes of January 27,2009 meeting
Motion to Accept
1 st - Halachoulis
2nd - Adamczyk
Accept 5-0
2) Becker Burke Presentation
-Potter went over results for the quarter
-Potter discussed his views on market investment
-Discussed performance of Capital Gains
Motion to Accept Becker Burke report
1 st - Rosenbarski
2nd - Erb
Accept 5-0
3) Columbia Management Presentation of Columbia Acorn Fund
-Presented by Jason Martone and John Meihoff
4) Discussion of Government Fixed Income Managers
-Potter discussed Capital Gains performance issues
-Discussion of Great Lakes Advisors, Mesirow Financial, and Harris
Investment Management in comparison to Capital Gains
-May 15, 2009 1 :00 PM special meeting scheduled for presentations from
Great Lakes Advisors, Mesirow Financial, and Harria Investment
Management
5) Discussion of Perkins and Wolf Janus funds performance
-Potter to update on May 15, 2009 special meeting on Janus funds
Performance
-Remove $500,000 from Capital Gains, $250,000 from Segall Bryant,
$250,000 from Cash (lllinois Fund)
-Deposit listed removals as follows:
$400,000 American Fund World Growth
$200,000 American Fund Growth
$200,000 Dodge & Cox
$200, 000 Vanguard Morgan Growth
Motion to Accept Removal of Funds
1 st - Rosenbarski
2nd - Adamczyk
Accept 5-0
Motion to Accept Deposit of Funds
1 st - Halachoulis
2nd - Erb
Accept 5-0
6) Treasurers Report presented by Dave Erb
Motion to Accept Treasurers Report
1 st - Rosenbarski
2nd - Halachoulis
Accept 5-0
7) Discussion of Reimbursement to Rosenbarski
-$22.00 paid by Rosenbarski for postage to mail notices to retired members
Motion to Reimburse Rosenbarski
1 st - Halachoulis
2nd - Adamczyk
Accept 5-0
8) Richard Reimer Presentation
-Reimer discussed update of Michael Rose lawsuit
-Reimer discussed public act 96-006 and ethics training
-Reimer discussed clarification of gift ban act
9) Discussion of Election of new Pension Board Trustees
-Rosenbarski stated information sent to active and retired members interested
in running for Pension Board position
-Rosenbarski discussed only two active (Rosenbarski and Floyd) and one
retired (Halachoulis) responded
-Rosenbarski, Floyd, and Halachoulis new Pension Board Trustees by
Acclimation
-July 28,20092:00 PM meeting for new Officer Positions
10) Discussion of Pension Board to pay for members to attend IPPF A conference
Motion to Accept Board to Pay Members to attend October 6-9, 2009 IPPF A
conference
1 st - Rosenbarski
2nd - Erb
Accept 5-0
II)Discussion of Revisiting Investment Polict at July 28,2009 Meeting
12) Discussion of Reimer Scheduling Annual Exams for Officers under age 50
Motion to Accept Reimer Scheduling Exams for Officers Under Age 50
1 st - Rosenbarski
2nd - Erb
Accept 5-0
Motion to Adjourn
1 st - Erb
2nd - Rosenbarski
Accept 5-0
Meeting Adjourned at 4:35 PM