01-31-2007EDGEWATER POLICE PENSION BOARD
REGULAR MEETING
January 31, 2007
City Hall Conference Room
Minutes
CALL TO ORDER
Chairman Gary Conroy called The Police Pension Board Regular Meeting to order on
Wednesday January 31, 2007 at 1:06 p.m. in the City Hall Conference Room.
ROLL CALL
Secretary Blazi conducted the Roll Call for the Police Pension Board Meeting. Members
present were Chairman Conroy Daniel Blazi, Melecia Williams, and Lawrence Leaf. A
quorum was established. Also present were Jack Asherl agent of record, Dee Finneran of
Principal, Tonya Niday of Principal, Karen Voth Claypool of Principal, Deputy Chief
William Bennett, Personnel Director Donna Looney, City Manager Jon Williams, and
Jim Jolley of the Edgewater Fire Department.
APPROVAL OF MINUTES
Chairman Conroy called for a review and approval of the Minutes for the December 13,
2006 Edgewater Police Pension Board Regular Meeting. Chairman Conroy also called
for a review and approval of the Minutes for the January 5, 2007 Edgewater Police
Pension Board Special Meeting.
MOTION
Lawrence Leaf made a motion to accept the minutes as read. Malecia Williams seconded
this motion.
Motion carried unanimously
NEW BUSINESS
Fund Statement
Jack Ascherl presented the Fund Statement 10 -01 -06 to 12- 31 -06. The ending account
balance was $7, 324, 807.93. Average return was annualized at 16.4 %. Karen Claypool
then presented the Actuarial Review for the plan. Discussion followed.
Questions were also raised in regards to the buyback, and other issues in reference to the
new drop plan. Possible problems were raised in reference to the ordinance language
regarding the Drop Plan and Buyback. This was left pending further review.
Attorney Bill
Chairman Conroy presented the bill for the attorney. Discussion was raised about recent
events in which communication with the attorney had not been returned.
MOTION
Daniel Blazi made a motion to pay the attorney bill. Lawrence Leaf seconded this
motion.
Motion carried unanimously
MOTION
Daniel Blazi then made a motion to have Chairman Conroy look into the possibility o
securing new ew legal services. Lawrence Leaf seconded this motion.
Motion carried unanimously
OLD BUSINESS:
Investment Policy Review:
The investment policy review was tabled for later meetings.
ADJOURNMENT:
With no further business to discuss, Secretary Blazi called for a motion to adjourn.
MOTION
Dan Blazi made a motion to adjourn. Malecia Williams seconded this motion.
Motion carried unanimously
The meeting was adjourned at 2:52 p.m.
Secretary Dan Blazi