HomeMy WebLinkAbout01/25/2011 PPB MinutesMOUNT PROSPECT POLICE PENSION BOARD
Meeting Minutes
January 25, 2011
Meeting called to order at 2:04 PM
Board Members Present: Floyd, Halachoulis, Rosenbarski, Saviano, Erb
Others Present: Richard Reimer, Rick Potter, Jeremy Seemann
1) Reviewed minutes of 10 -26 -10 and 12 -03 -10 meetings
Motion to Accept Minutes of 10 -26 -10 and 12 -03 -10 Meetings
I s '— Saviano
2 „ d — Halachoulis
Accept 5 -0
2) Becker Burke Presentation
- change to Mesirow has worked out to advantage
- Seemann feels no need to replace Dodge + Cox
- diversification helping funds
- discussed difference in bonds / equities profits
- Ariel outperforming Perkins, Ariel good style for portfolio
- suggested reallocation of funds from equities to bonds
-now allowed to invest in corporate bonds
- managers will ask to raise fees with corporate bonds due to research
- recommend make contracts with managers regarding corporate bonds
-need to incorporate corporate bond changes into investment policy
Motion to remove $75000 from AF Growth, $250000 from Vanguard Growth,
$100000 from American Funds WG, $450000 from Morgan Stanley, $150000
from Ariel and transfer same amounts (total $1025000) to Mesirow
I s '— Saviano
2nd — Halachoulis
Accept 5 -0 (roll call vote)
Motion to Accept Becker Burke report
1 st — Rosenbarski
2nd — Floyd
Accept 5 -0
3) Treasurers Report Presentation
Motion to Accept Treasurers Report
1" — Rosenbarski
2nd — Halachoulis
Accept 5 -0
Saviano, Potter, and Seemann exited meeting at 3:15 PM
4) General Discussion
- Military Buyback — rules need to be consistent
-New Two -tier pension system
- Upcoming trustee elections
Motion to participate in NCPERS membership
1 S ` — Halachoulis
2nd — Rosenbarski
Accept 4 -0 (Saviano absent)
Motion to adjourn
1 s ` — Rosenbarski
2nd — Halachoulis
Accept 4 -0 (Saviano absent)
Meeting adjourned at 3:55 PM