2007-07-10 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 07/10/2007
Type of Meeting: ❑ Regular Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
Regular Meeting—July 10, 2007
I. Call to Order- 6:30PM
I. Attendance
Kristiansen—present Feld—present Fox -present
Tenerelli -present
Eisenmenger—present Voigt—present Anderson—present
I. Minutes
April 17, 2007 minutes
Motion to accept the minutes by Trustee Eisenmenger
Seconded by Trustee Voigt Vote: 5 ayes
0 nayes
I. General Business
Invoice paid to IPPFA ($750.00 - annual fee) and ($25.00 - seminar)
Invoice paid to Illinois Dept. of Insurance ($5845.59 annual fee)
Stratford Investment Advisory Group
Forecast—inflation rising, economy strengthened in the 2nd quarter
Recommendation— Purchase t-strips due in 2010, 2012 and various stock funds
Fixed Income: 2nd Qtr. .5% increase YTD 1.0%
Trailing 12 month 6.0%
Equities: 2nd Qtr. 5.9%increase YTD 6.2%
Trailing 12 month 22.9%
• Motion to accept recommendation: Trustee Kristiansen
• Seconded by: Trustee Voigt Vote: 5 ayes
0 nays
Mesirow Financial
Mr. Ackerman introduced Brock C. Lamarca; he will be replacing Mr. Ackerman
in 2010
Mr. Ackerman suggested the board increase it's equity exposure
Trustee Kristiansen requested a report at the next meeting on the board's bond
holdings
Forecast—inflation slowly increasing, 24%increase in portfolio within next four
quarters
Recommendation -None
2nd Qtr. 5.50% increase YTD: 8.23% Trailing 12 month:19.40%
• Motion to accept recommendation: N/A Seconded by:
N/A
Next regular meeting scheduled for October 9, 2007
I. New Business
Tepfler Actuary Group provided a quote of$2500 to conduct a study of the BGPD
Pension Fund, the board decided not to proceed at this time
Research insurance riders for public pension boards
The board would like Mesirow to review our investment policy
The board would like Reimer and Associates to review the investment policy
Officer Bock's acceptance into the pension fund:
Motion to accept: Trustee Eisenmenger 2nd Trustee Kristiansen
Change broker of record reference annuity held by UBS to Mesirow
I. Old Business
None
I. Adjournment — 8:40PM