06-28-2002
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EDGEW ATER POLICE PENSION BOARD
REGULAR MEETING
June 28, 2002
Minutes
CALL TO ORDER:
The Police Pension Board regular meeting was called to order by Chairman Conroy in the
City of Edge water, City Hall conference room, Friday, June 28,2002 at 1 :30 p.m.
ROLL CALL:
Members present were Gary Conroy, Rena Green, Ferdinand Heeb, and Jon Williams.
Phil Niebieski was absent. Also present was Donna Looney, Recording Secretary.
APPROVAL OF MINUTES:
Ferd Heeb made a motion to accept the minutes of December 11, 2001 and March 26,
2002 as submitted. Seconded by Rena Green. Motion CARRIED 4-0
OLD BUSINESS:
Chairman Conroy informed the board that the City received two (2) bids on the proposal
for Independent Consultant Services. Donna Looney told the members that Michele
Murphy, Finance Director and Debby Sigler, Personnel Director suggest forming a five
(5) member committee to review these bids and make a selection. After some discussion,
Jon Williams made a motion to. select Ferd Heeb from this board to represent the Police
Pension on the committee. Seconded by Rena Green. Motion CARRIED 4-0
NEW BUSINESS:
Chairman Conroy informed the board about the letter received from Ms. Schumaker,
Division of Retirement, denying the annual report. Chairman Conroy advised that the
City's Finance Director is on top of things and has already addressed the issues.
Chairman Conroy asked Jon Williams for any additional information. Jon told the board
there is a packet ready to go out as soon as copies from Principal are received. Jon
reviewed each issue and how it has been addressed.
Chairman Conroy has received a letter from Phil Niebieski stating he had to resign due to
other obligations. A sign up sheet was posted at the Police Department for a week; Bret
Teitelbaum was the only officer to sign. Chairman Conroy asked for this to be placed on
the agenda for council approval.
Chairman Conroy would like Principal to be contacted and find out when their new
booklets will be coming. Donna Looney will follow up with Cory at Principal.
MISCELLANEOUS:
Ferd Heeb asks the members if they have followed the Principal Stock. He is still
concerned about this investment and feels it is not possible for the board to monitor, as
they only meet once a quarter. Mr. Heeb would like to dump this and let Principal
handle. After further discussion, Chairman Conroy requested to have Principal's Plan
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Administrator attend the next board meeting. Donna Looney will contact Mr. Ascher! to
coordinate.
The board scheduled their next meeting for Tuesday, September 3,2002 at 1 :30 p.m.
Ferd Heeb asked about the investment policy. Chairman Conroy will get a copy of the
Fire Departments from Chairman Jim Jollie for the next meeting. After further
discussion, Donna Looney will take care of this through Lisa Miller. Ferd Heeb would
also like a copy of the current investment policy.
Chairman Conroy distributed a copy of the Attorney General's opinion on Chapter 185.
Ferd Heeb talked about the binders that were made up when he was on the board last
time. Ms. Green has tried to make up her own. Chairman Conroy will see if he can
locate any of them.
ADJOURNMENT:
With no further business, Mr. Heeb made a motion to adjourn. Seconded by Jon
Williams. Motion CARRIED 4-0.
Minutes submitted by:
Personnel Department
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