HomeMy WebLinkAbout01/26/2010 PPB MinutesMOUNT PROSPECT POLICE PENSION BOARD
Meeting Minutes
January 26, 2010
Meeting called to order at 2:02 PM
Board Members Present: Floyd, Halachoulis, Rosenbarski, Saviano, Erb
Others Present: Richard Reimer, Rick Potter, Jeremy Seemann, Sherri Daniels, Rex
Holsapple
1) Reviewed minutes of 10 -29 -09 and 12 -23 -09 meetings
Motion to Accept
1 Saviano
2nd — Rosenbarski
Accept 4 -0 (Erb abstain due to not being present at meetings)
2) Becker Burke Presentation
- Mesirow replaced Capital Gains but not for full quarter
- investment manager diversification benefitting funds
- overall made money
- discussed difference in bonds / equities profits
-very strong across board performance in equities
Motion to Accept Becker Burke report
1 St — Rosenbarski
2 — Floyd
Accept 5 -0
3) Treasurers Report Presentation
Motion to Accept Treasurers Report
1 st — Floyd
2 — Halachoulis
Accept 5 -0
No Reallocation of funds at this time
4) Dow Jones Benchmark Presentation
- presented by Sherri Daniels and Rex Holsapple of Dow Jones
- managers pay for Dow Jones information to explain under /over performance
-many managers already use
Sherri Daniels, Rex Holsapple, and Jeremy Seemann exited meeting
5) Review of Actuarial Assumptions
- discussed if 8% appropriate for current market
-board makes recommendation, village chooses
6) New Legislation
- Reimer discussed freedom of information act
- public record must be disclosed
-5 working days to respond to request
-board should have a FOIA officer and backup, training available
7) Illinois Department of Insurance Audit Report
- possibility of staggering terms
- treasurer will be the security administrator for the department of insurance
Motion to authorize treasurer to verify payment amounts, and if
underpayments authorize treasurer to pay correct amounts.
1 Halachoulis
2 Erb
Accept 4 -0 (Saviano absent)
Motion to appoint treasurer / Dave Erb as FOIA officer.
1 St — Halachoulis
2 — Rosenbarski
Accept 4 -0 (Saviano absent)
Motion to adjourn
1 St — Halachoulis
2nd — Rosenbarski
Accept 4 -0 (Saviano absent)
Meeting adjourned at 4:12 PM