09-07-2005
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EDGEW A TER POLICE PENSION BOARD
REGULAR MEETING
Wednesday September 7, 2005
City Hall Conference Room
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Minutes
CALL TOnRDER:
Chairman Gary Conroy called The Police Pension Board Regular Meeting to order
on Wednesday September 7,2005 at 1 :OJ'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 Ferdinand Heeb, Rene Green, Gary Conroy, and Dan Blazi. Malecia
Williams was not present. Also present was Jack Ached Agent of Record, and
Donna Looney. A quorum was established.
APPROVAL OF MINUTES:
Chairman Conroy called for an approval of the Minutes for the August 3, 2005
Edgewater Police Pension Board Regular Meeting.
MOTION:
Ferdinand Heeb made a motion to accept the minutes as read. Rene Green
seconded this motion.
Motion Carried Unanimously
NEW BUSINESS:
William Lenz Retirement
Chairman Conroy forwarded a letter from William Lenz requesting calculations for
retirement options available. Donna Looney had forwarded the request to David
Williams of Principal, and results were pending.
The City had supplied the monies necessary to supplement the Pension, in reference
to the funds that had been given to Joan Simmons in error. This satisfied the State
requirements regarding this issue.
Portfolio Review
Jack Ached gave a presentation on the City of Edgewater Police Retirement Plan
Portfolio. Jack Ached explained the Actuarial Valuation Report for the plan year
October 1, 2004 through September 30, 2005. Other areas covered were the
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Current Funds Statement, the Fund
Principal Due Diligence Program.
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Selection Service Annual Report, and the
OLD BUSINESS:
Attorney's Bill
ChaIrman Gary Conroy forwarded the Bill from the Law Firm of Sugarman and
Susskind.
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MOTION:
Ferdinand Heeb made a motion to pay the Bill to the Law Firm. Rene Green
seconded the motion.
Motion Carried Unanimously
Bogdahn Consulting
Chairman Conroy inquired if the Board wished to enter into contract with Bogdahn
Consulting.
MOTION:
Dan Blazi made a motion to give Chairman Conroy the authority to enter into
contract with Bogdhan Consulting. Ferdinand Heeb seconded the motion.
Motion Carried Unanimously
Investment Policy Statement
Chairman Conroy presented the Investment Policy Statement sent by Harrison.
MOTION:
Ferdinand Heeb made a motion to adopt the Investment Policy Statement. Dan
Blazi seconded the motion.
Motion Carried Unanimously
MISCELLANIOUS:
Communication from the State Division of Retirement
Chairman Conroy presented the packet sent to the State Division of Retirement.
Chairman Conroy announced that the State Division of Retirement approved the
Pension Plan. Other areas of discussion were a proposed revision of the City's
Duties and Responsibilities, Continuing Education requirements in reference to
Trustees, and separation from City involvement in the administrative duties on the
Pension Board funding of bills.
The next meeting was set for Wednesday October 5, 2005 at 1 :OOp.m.
ADJOURNMENT:
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MOTION:
Ferdinand Heeb made a motion to adiourn. Dan Blazi seconded the motion.
Motion Carried Unanimously
The meeting was adjourned at 3:07p.m.
Minutes submitted by: Secretary Dan Blazi
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