2006-01-10 - Police Pension Board - Minutes Board or Commission: ❑ Police Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 01/10/2006
Type of Meeting: ❑ Regular Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
Regular Meeting - January 10, 2006
I. Call to Order- 6:30PM
II. Attendance
Kristiansen-present Feld-present Greenberg-present Tenerelli -present
Eisenmenger-present Voigt-present Anderson-present
III. Minutes
❑ October 25, 2005 regular meeting minutes read before the board
❑ Motion to accept the minutes by Trustee Goldberg
■ Seconded by Trustee Feld Vote: 5 ayes 0 nayes
IV. General Business
❑ Invoice paid to Illinois Public Pension Fund Association (membership dues) $400.00
❑ Invoice paid to Mesirow Financial $10,093.20
❑ Invoice paid to Chicago Orthopedic & Associates $400.00
❑ Invoice paid to Chicago Orthopedic & Associates $700.00
❑ Stratford Investment Advisory Group
■ Forecast-Economy strong; may be on the verge of a downtrend within 2-4 quarters
■ Recommendation-move funds into bonds, especially if yield curve becomes inverted
❖ Motion to accept recommendation: Trustee Kristiansen
❖ Seconded by: Trustee Feld Vote: 5 ayes 0 nays
❑ Mesirow Financial (report via e-mail)
1. Forecast- economy remains strong but signs of weakening
2. Recommendation-purchase B1ackRock Health mutual fund
❖ Motion to accept the recommendation: Trustee Greenberg
❖ Seconded by: Voigt Vote: 5 ayes 0 nayes
3. Equity account up 10.6% YTD (2005)
❑ Next regular meeting scheduled for April 11, 2006
V. New Business
❑ Received actuarial report from Hewitt& Assoc.; report showed account funded at 71.5% which
was determined to be unacceptable by the board; meeting with village revealed an assurance of
additional funding
❑ Received Sgt. Clyburn's retirement application
■ Motion to accept the retirement application and retirement payouts: Trustee Kristiansen
■ Seconded by: Trustee Voigt Vote: 5 ayes 0 nayes
❑ Ofc. Jaime Veuduzco and Ofc. Greg Hill tendered applications to the fund
■ Motion to accept both officers into fund: Trustee Kristiansen
■ Seconded by: Trustee Voigt Vote: 5 ayes 0 nayes
VI. Old Business
❑ None
VIL Adjournment — 7:30PM