2007-04-17 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 04/17/2007
Type of Meeting: ❑ Regular Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
Regular Meeting—April 17, 2007
I. Call to Order- 6:30PM
I. Attendance
Kristiansen—present Feld— absent Fox -present
Tenerelli -present
Eisenmenger—present Voigt—present Anderson—absent
I. Minutes
January 2007 minutes
Motion to accept the minutes by Trustee Voigt
Seconded by Trustee Fox Vote: 4 ayes
0 nayes
I. General Business
Invoice paid to Stratford in the amount of$8566.95
Sudan issue is dead at this point; ruled unconstitutional
Stratford Investment Advisory Group
Forecast—Economy is slowing
Recommendation— Purchase t-strips due in 2010, 2012 and various stock funds
• Motion to accept recommendation: Trustee Eisenmenger
• Seconded by: Trustee Fox Vote: 4 ayes 0 nays
Mesirow Financial
Forecast—No report, Mr. Ackerman not present
Recommendation -
lst Qtr. 3.23% increase
• Motion to accept recommendation: N/A
• Seconded by: N/A
Next regular meeting scheduled for July 10, 2007
I. New Business
Ofc. Montgomery was provided procedures on the transfer of credible service from
Highland Park
It was suggested that Mr. Ackerman send a representative if he can not attend the
meeting
The board's investment policy was discussed; it was suggested that the policy be
reviewed by legal counsel for Illinois Public Pension Fund Association (IPPFA)
Procedure for paying invoices was discussed, it was agreed that two signatures should
still be required before invoices can be paid; however, we can utilize the village's
warrant system.
Mr. Anderson stated that Tim Sharpe—Village Actuary would not be available to make a
presentation
Mike Green from UBS reviewed our annuity and stated the cash value of it is $355,239.
He also provided investment information to the board regarding potential use of the
$355,239.
I. Old Business
None
I. Adjournment — 9:10PM