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2006-07-11 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board Document Type: ❑A e g nda 0 Minutes Meeting ate: 07/11/2006 Type of Meeting: ❑ Regular Meeting BUFFALO GROVE POLICE PENSION FUND Police Pension Board Minutes Regular Meeting - July 11, 2006 I. Call to Order- 6:30PM I. Attendance Kristiansen—present Feld—present Greenberg—present Tenerelli - absent Eisenmenger—present Voigt—present Anderson—present I. Minutes April 2006 regular meeting minutes read before the board Motion to accept the minutes by Trustee Greenberg Seconded by Trustee Voigt Vote: 5 ayes 0 nayes I. General Business Invoice paid to Illinois Department of Insurance (compliance fee) $5527.99 Stratford Investment Advisory Group Comparison between BG Pension Fund vs. Downstate/Chicago/Suburban Pensions Funds Forecast—Economy continues to weaken, bullish on bonds Recommendation— Purchase T-strips and stock funds if value is seen • Motion to accept recommendation: Trustee Greenberg • Seconded by: Trustee Kristiansen Vote: 5 ayes 0 nays Mesirow Financial B1ackRock Health performed poorly this quarter, portfolio has beaten S&P 500 in past years Forecast—Economy is weakening, increased volatility Recommendation - Adopt policy to place money into equities on regular basis until goal is reached • Motion to accept recommendation: Trustee Greenberg • Seconded by: Trustee Eisenmenger Move $250,000.00 each quarter into equities • Motion to accept the recommendation: Trustee Voigt • Seconded by: Trustee Greenberg Vote: 5 ayes 0 nayes Next regular meeting scheduled for October 10, 2006 I. New Business Trustee Greenberg reported that this would be last meeting, the board thanked him for his tenure Trustee Eisenmenger and Trustee Voigt attended a IPPFA seminar in June 2006 — Bensenville, IL. Scott Andersen reported that the village has hired a new actuarial — Tim Sharpe Trustees Kristiansen and Eisenmenger were present for a presentation by Oak Brook Bank-Falduto Ofc. Robert Broussard, Ofc. Daniel Dineler, Anthony Turano tendered applications to the fund Motion to accept all officers into fund: Trustee Kristiansen Seconded by: Trustee Feld Vote: 5 ayes 0 nayes I. Old Business None I. Adjournment — 7:30PM