2008-05-13 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 05/13/2008
Type of Meeting: ❑ Special Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
SPECIAL MEETING—May 13, 2008
I. Call to Order- 6:30PM
I. Attendance
Kristiansen—present Feld—present Fox -present
Eisenmenger—present Voigt—present Andersen - present
I. Minutes
N/A
I. General Business
Next regular meeting scheduled for July 8, 2008
I. New Business
Mr. Wall with Wall & Associates provide the board with four (4) asset allocation models
to choose from reference the board's future investment strategy (see handouts).
Discussion of investment strategies resulted in two questions needing to be answered by
the board:
Should the board attain 45% equities? The board agreed that 45% equities would
be prudent in light of achieving expected returns
Should the board with assistance from Wall & Associates manage investments in
the International asset class and REIT asset class? The board agreed that
managing these asset classes with assistance from Wall & Associates would
also be prudent
Motion: Trustee Eisenmenger2nd Trustee Voigt ayes 5 0
nayes
Mr. Wall stated that he would create a new investment policy for the board
Mr. Wall stated that the annuity held by UBS has been liquidated
Mr. Wall presented investment manager information (see handout)to the board
After the board reviewed the handout of manager profiles provided by Mr. Wall, the
board agreed to have Wall & Associates send out requests for proposals (RFP's) to
several investment managers.
Mr. Wall recommended opening two new Schwab accounts; one account for the REIT
asset allocation class and one for the International asset allocation class.
Motion: Trustee Feld 2nd Trustee Fox ayes 5 0
nayes
Mr. Wall recommended funding the two Schwab accounts with $500,000.00 each.
Motion: Trustee Kristiansen 2nd Trustee Feld ayes 5 0
nayes
I. Old Business
None
I. Adjournment — 8:15PM