07-25-2007
"
u
Q
u
EDGEW ATER POLICE PENSION BOARD
REGULAR MEETING
JULY 25, 2007
City Hall Conference Room
Minutes
CALL TO ORDER:
Dan Blazi called The Police Pension Board Regular Meeting to order on Wednesday July
25,2007 1 :04 p.m. in the City Hall Conference Room.
ROLL CALL:
Dan Blazi conducted the Roll Call for the Police Pension Board Meeting. Members
present were Gary Conroy, Daniel Blazi, Ferdinand Heeb, Lawrence Leaf and Malecia
Williams. A quorum was established. Also present were Bill Bennett, John Asherl acting
agent of record and Dee Finneran of Principal (1:10 p.m.).
APPROVAL OF MINUTES:
Dan Blazi called for a review and approval of the Minutes for the June 20, 2007 regular
Edgewater Police Pension Board Regular Meeting.
MOTION
Gary Conroy made a motion to accept the minutes as read. Ferdinand Heeb seconded
this motion.
Motion carried unanimously
NEW BUSINESS:
Appointment of New Chairperson
Gary Conroy is stepping down as chairperson of the Police Pension Board and remaining
as an active member of the board. Leaving a vacancy for the position.
MOTION
Ferdinand Heeb made a motion that Dan Blazi be the Chairman for the Police Pension
Board. Lawrence Leaf seconded this.
Motion carried unanimouslv
Appointment of New Secretary
With Dan Blazi being appointed to the position of the chairperson for the board this has
caused a vacancy for the position of Secretary for the board.
MOTION
Gary Conroy made a motion that Matecia Williams be the Secretary for the Police
Pension Board. Lawrence Leaf seconded this.
Motion carried unanimouslv
Miscellaneous Discussion
(\
'-' Ferdinand Heeb inquiring into the Board's opinion of the new attorney Mr. Lee Dehner.
At this time the Board has positive feedback regarding the change to the new attorney
and the items of concern Mr. Dehner was asked to address.
Gary Conroy informed the Board of the information he acquired for insurance
requirements and a few applications from companies that are able to provide insurance
coverage. All Board members are interested in acquiring insurance coverage.
Contact companies for insurance quotes
Chairperson Dan Blazi will contact the insurance companies to obtain quotes and bring
this information back to the Board.
MOTION
Ferdinand Heeb made a motion that Chairperson Blazi contact and obtain quotes for
insurance. Gary Conroy seconded this.
Motion carried unanimously
Gary Conroy informing the Board that his term would be expiring within a few months.
Chairperson Blazi will post the opening.
o OLD BUSINESS
Investment Policy Statement
Discussion of the investment policy by Dee Finneran of Principal was tabled until a
meeting can be established with attorney Lee Dehner and Jim Robinson (Investment
Manager with Principal).
Further discussion occurred in reference to a different plan manager/actuary to discuss
actuarial services. Also Ferdinand Heeb wishes to discuss buyback plan with attorney
Lee Dehner.
ADJOURNMENT:
With no further business to discuss, Chairman Blazi called for a motion to adjourn.
MOTION
Gary Conroy made a motion to adiourn. Lawrence Leaf seconded this motion.
Motion carried unanimously
( ....
'-" The meeting was adjourned at 2:45 p.m.
Secretary Malecia Williams
2