06-28-1994
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Edgewater Firefighters' Pension Fund
Minutes
Regular Meeting, June 28, 1994
Fire Administration Office, 1605 S. Ridgewood A venue
6:40 p.m.
Call to Order: The Regular Meeting of the Edgewater Firefighters' Pension Fund was
called to Order at 6:40 p.m. in the Fire Administration Office at 1605 South Ridgewood
A venue, Edgewater.
Roll Call: Members present were: Mr. Ben Wagner, Mr. Robert Morin, and Chairman
Al Gilbert. Mr. William Vola and Firefighter Michael Hayes were absent. Also present
was Mr. Steve Burkhalter from Smith Barney Shearson and Recording Secretary Lisa R.
Miller.
Minutes: The Minutes of the April 19, 1994 Regular Meeting were submitted for
approval. Mr. Wagner moved to approve the Minutes as submitted. Mr. Morin seconded.
Motion CARRIED 3-0.
Investment Re9ort: Mr. Burkhalter informed the Board the total account value was in
excess of $152,000 at this time. He added the current cash position was approximately
$29,300. Mr. Burkhalter presented his proposal to the Board at this time. There was
discussion regarding his proposal. Mr. Morin moved to accept Mr. Burkhalter's proposal
to put $30,000 in a FNMA for 3 1/2 years at 7%. Mr. Wagner seconded. Motion
CARRIED 3-0. There was discussion regarding how investments were figured, in
particular face value vs. original cost. The Board thanked Mr. Burkhalter for his
presentation and he left at this time.
Old Business: There was discussion regarding the Summary Plan. It was decided to
table further action on it until there was a full board.
New Business: There was no new business at this time.
Adiournment: There being no more business to come before the Board at this time Mr.
Wagner moved to adjourn the meeting. Mr. Morin seconded. Meeting adjourned at 7: 10
p.m.
Minutes Respectfully Submitted By:
Lisa R. Miller, Recording Secretary