HomeMy WebLinkAbout10/26/2010 PPB MinutesVillage of Mount Prospect Police Pension Board
Regular Quarterly Meeting
October 26, 2010 — Village Board Conference Room
BOARD MEMBERS PRESENT: Erb, Halachoulis, Rosenbarski,
OTHERS PRESENT: Richard Reimer (Attorney for Pension Fund)
Jeremy Seeman (Financial Advisor)
Halachoulis called the meeting to order at 2:05 p.m.
1) Review of Minutes from July 27, 2010 Regular Meeting
MOTION: (To accept the Minutes of July 27, 2010 meeting)
1S — Erb
2nd — Halachoulis
Passed 3 -0
2) Becker Burke Report
- Seeman advised total assets increased from $39.9 to $42.2 million
- Seeman advised Seagall Bryant doing exceptional in their account for us
- Seeman advised he still believes Ariel Capital should be replaced
- Seeman advised we should do RFP for Large Cap Value to replace Dodge &
Cox
- Seeman advised we should do a RFP for Mid Cap Growth to replace Ariel
Capital
MOTION: (To accept the Becker Burke Report )
1 st — Halachoulis
2n — Erb
Passed 3 -0
3) Treasurers Report
Erb reported assets of
MOTION: (To approve Expenditures for 3rd Quarter)
1 St — Rosenbarski
2nd — Halachoulis
Roll Call /Passed 3 -0
MOTION: (To AcceptTreasurers Report)
1S — Rosenbarski
2n — Halachoulis
Passed 3 -0
Defer Investment Policy Review to 1 St Quarter 2011 Meeting
Defer Rules & Regulations Discussion to 1 St Qtr 2011 Meeting
Discussed Retirement of Sullivant, Behun & Recker
Discussed Chief Dahlbergs Creditable Military Service Application
Discussed keeping minutes of 712/10 confidential meeting until Rose matter is
finalized
Reimer advised Rose file went missing in the Circuit Court Clerks Office and the
appeal will be delayed until it is found or recreated
MOTION: (To Keep Minutes of 7/12/10 meeting Confidential)
1 st — Halachoulis
2n — Rosenbarski
Passed 3 -0
MOTION: (To accept Actuary Timothy Sharp proposed tax levy. Adopt
recommended Levy $2,467,527)
1 St — Halachoulis
2n — Rosenbarski
Roll Call /Passed 3 -0
MOTION: (To adjourn meeting at 3:20pm)
1S Halachoulis
2 nd — Erb
Passed 3 -0