04-26-2006
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EDGEW ATER POLICE PENSION BOARD
REGULAR MEETING
April 26, 2006
City Hall Conference Room
Minutes
CALL TO ORDER:
Chairman Gary Conroy called The Police Pension Board Regular Meeting to order on
Wednesday March 29, 2006 at 1:00 p.m. in the City Hall Conference Room.
ROLL CALL:
Secretary Blazi conducted the Roll Call for the Police Pension Board Meeting. Members
present were Gary Conroy, Ferdinand Heeb, Lawrence Leaf, Melecia Williams, and
Daniel Blazi. A quorum was established. Also present were Jack Acherl Agent of
Record, and Donna Looney of the Personnel Department.
APPROVAL OF MINUTES:
Chairman Conroy Called for a review and approval of the Minutes for the March 29,
2006 Edgewater Police Pension Board Regular Meeting.
MOTION
Ferdinand Heeb made a motion to accept the minutes as read. Malecia Williams
seconded this motion.
Motion carried Unanimously
NEW BUSINESS:
Bogdon Consulting Presentation Review:
Chairman Conroy explained that Bogdon Consulting did not have our investment policy
statement, and due to this fact, presented an example policy statement. Chairman Conroy
explained that the presentation was another example of services available from Bogdon,
and that no motions or decisions had been made at that time.
Fund Statement:
Jack Acherl presented the fund statement through March 31, 2006. Jack Acherl showed
an ending balance of 6, 000,709. The return on the account for the first six months was
3.33% annualized at 6.66%. Jack Acherl then showed a break down of the performance
of the separate accounts.
Retirement Discrepancies:
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Chairman Conroy showed the Board that discrepancies still existed in the retirement
dates for several employees. The discrepancies were due to the general employee/police
department pension times, and the fact the employees had been general employees before
becoming police officers. Jack Acherl would be working on the discrepancies.
Miscellaneous:
Miscellaneous discussions were opened in reference to the drop plan, disability benefits,
and other issues involving the police pension fund. There were no motions of note made
during the course of the meeting.
Adjournment:
MOTION
Dan Blazi made a motion to adiourn. Ferdinand Heeb seconded this motion.
Motion carried Unanimouslv
Meeting was adjourned at 2:40 p.m.
Secretary Dan Blazi
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