05-13-2003
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EDGEW ATER POLICE PENSION BOARD
REGULAR MEETING
Tuesday, May 13, 2003
City Hall Conference Room
Minutes
CALL TO ORDER:
Chairman Conroy called to order the Regular Meeting of the Edgewater Police Pension
Board on Tuesday, May 13, 2003 at 10:07 a.m. in the City Hall Conference Room.
ROLL CALL:
Members present were Chairman Gary Conroy, Ms. Rena Green, Mr.Ferd Heeb. Mr. Jon
Williams was absent. Also present was Mr. Tim Hollinger, Mr. Jeff Paine, Mr. Jeff
Freude, Principal Financial Group, Mr. William Lenz, Ms. Debby Sigler, Personnel
Director and Donna Looney, Recording Secretary.
APPROVAL OF MINUTES:
None at this time.
NEW BUSINESS:
Tim Hollinger reviewed the Fund Statement for the period 10/01/02 through 04/30/03.
Jeff Paine and Jeff Freude made a presentation using the Investment Review May 2003
booklet (see attached) followed by discussion.
OLD BUSINESS:
Tim Hollinger handed out an investment policy outline for the board to review. There
was discussion about blending Principals investment policy along with the one provided
by Burgess Chambers to make up a new investment policy for this board. It was decided
that Principal would review the investment policy and send their comments to the board.
Chairman Conroy stated that we have received a statement from Sugarman & Susskind
showing a $200 balance. Chairman Conroy stated he contacted them before and was told
to disregard, he will contact Mr. Sugarman himself
Mr. Heeb asked about getting another attorney. Chairman Conroy suggested meeting
with the City's attorney after they receive the comments from Principal on the investment
policy.
Mr. Heeb would like to meet more often until the investment policy is taken care of
MISCELLANEOUS:
Chairman Conroy asked about the yearly statements still not being here. Ms. Sigler
informed the board it could be due to when we requested a retirement calculation
Principal was not sure the language is correct in the document (see attached). Mr. Heeb
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asked that itbe-put in writing to the board any problems in administrating the plan so the
board can have council amend the plan.
Mr. Heeb wants the blue books put back together by the City so the board will have
everything they need. Ms. Sigler said if Chairman Conroy can give her a book that is up
to date she would have someone copy it.
ADJOURNMENT:
With no further business to be discussed, Mr. Heeb moved to adjourn. The meeting
adjourned at 11 :24 a.m.
Minutes submitted by:
Personnel Department
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