HomeMy WebLinkAbout04/27/2010 PPB MinutesMOUNT PROSPECT POLICE PENSION BOARD
Meeting Minutes
April 27, 2010
Meeting called to order at 2:00 PM
Board Members Present: Floyd, Halachoulis, Rosenbarski, Erb
Others Present: Jeff Goodloe, Rick Potter, Jeremy Seeman
1) Reviewed minutes of 01 -26 -10 meeting
- Amended following to Section 7 of minutes: Treasurer Dave Erb appointed
as open meetings act officer
Motion to Accept Amended Minutes
1st — Halachoulis
2 " — Erb
Accept 4 -0
Board Member Saviano present at 2:05 PM
2) Becker Burke Presentation
-first full quarter for Mesirow
- Perkins and Wolf / Ariel status (transfer of funds, transparency with Janus)
-funds overall doing well due to diversification and manager selection
-due to percentage in equities, Jeremy Seemarin recommended following
transfer of funds:
Remove $400000 from American Funds Growth
Remove $250000 from Dodge + Coy:
Remove $450000 from Vanguard Morgan Growth
Add $400000 to American Funds World Growth
Add $700000 to Mesirow
Motion to Transfer Funds as Recommended by Jeremy Seemann
I" — Erb
2" d — Halachoulis
Accept 5 -0 (Roll Call Vote)
Motion to Accept Becker Burke report
I" — Rosenbarski
2nd — Halachoulis
Accept 5 -0
3) Treasurers Report Presentation
- discussion of percent funded, to be reviewed by Sharpe
Motion to Accept Treasurers Report
1' — Halachoulis
2 °d — Floyd
Accept 5-0
4) Investment Policy Review
- address allocations and assumptions
- further discussion tabled to 07 -27 -10 meeting
- recommendations /drafts to be brought for discussion
5) Discussion of 01 -26 -10 Dow Jones Benchmark Presentation
-no action, current benchmark to be kept
6) Discussion of Rules and Regulations
- Goodloe sending draft of rules and regulations (email)
- tabled to 07 -27 -10 meeting
Rosenbarski stated Officer Barrett has asked about changing disability
pension to regular retirement pension application
- Goodloe said letter for request needed from Officer Barrett
7) Discussion of Deputy Chief Rzepecki and Officer Felten retirement
- Rzepecki retirement application reviewed
- Felten retirement application reviewed
Motion to accept Deputy Chief Rzepecki retirement application
1 Rosenbarski
2 °d - Halachoulis
Accept 5 -0 (Roll Call Vote)
Motion to accept Officer Felten retirement application
1 St — Halachoulis
2" d — Floyd
Accept 5 -0 (Roll Call Vote)
Motion to adjourn
1 St — Rosenbarski
2nd — Erb
Accept 5 -0
Meeting adjourned at 3:07 PM