09-18-2006
Edgewater Firefighter's Pension Fund
Regular Meeting
September 18, 2006
Station 57
2626 Hibiscus
5:30 p.m.
CALL TO ORDER:
Chairman Jollie called to order the regular meeting of the Edgewater
Firefighters' Pension Fund Board on September 18, 2006 at 5:36 p.m. at
Edgewater Fire Rescue Station 57.
ROLL CALL:
Members present were Chairman Jim Jollie, Laura Reilly, and Ron
Hayward. Also present was Molly Ha1com of Trusco Capital Management
and Shontella Jackson, Recording Secretary. Absent and excused was
Marty Tse and Gary Butt.
APPROVAL OF MINUTES:
The minutes of the August 1, 2006 meeting was submitted for approval.
MOTION bv Laura Reillv. SECOND bv Ron Havward to aoorove the
minutes of Remlar Ede:ewater Firefie:hter's Pension Board on Aumst
1. 2006. MOTION CARRIED UNANIMOUSLY.
NEW BUSINESS:
Sugarman & Susskind invoice
The Board reviewed and voted to pay the Sugarman & Susskind invoice
for draft ordinance. MOTION bv Ron Havward. SECOND bv Laura
Reillv to oav the outstandine: invoice in the amount of $262.50 to
Sue:arman & Susskind. MOTION CARRIED UNANIMOUSLY.
Presentation bv Trusco
Molly Ha1com of Trusco Capital Management presented the Board with
the second quarter portfolio. Molly Ha1com gave a brief overview of the
performance of the funds and noted the areas of concern. Molly Ha1com
recommended that the Board take all fees into consideration and observe
how the fees will impact the plan.
Edgewater Firefighters' Pension Fund
Regular Meeting
09/18/06 Page 2
Investment questionnaire
The Board discussed the investment questionnaire. Chairman Jollie
stated that Bogdahn wanted to know if the Board wanted an all-inclusive
manager or contract it out. MOTION bv Laura Reillv. SECOND bv Ron
Havward to table the auestionnaire until a meetine: with the
Boe:dahn GrouD. CARRIED UNANIMOUSLY.
Acceptance of ordinance change
The Board reviewed the ordinance change. MOTION bv Laura Reillv.
SECOND bv Ron Howard to forward the ordinance chane:e to Citv
Council for aDDroval. MOTION CARRIED UNANIMOUSLY. Chairman
Jollie stated that the ordinance change will provide a $16 a month
stipend for year of service, payable on 20 years minimum; increase the
payroll deduction from 6% to 7% and will cost the City nothing.
OLD BUSINESS:
None.
DISCUSSION ITEMS:
None.
ADJOURNMENT:
Chairman Jim Jollie adiourned the meetina;! at 6:25 p.m.
Minutes respectfully submitted by:
Shontella Jackson
Recording Secretary
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