2004-10-12 - Police Pension Board - Minutes Board orCommission: ❑ Police Pension Board
Document Type: 0 A e
g nda 0 Minutes
Meeting ate: 10/12/2004
Type of Meeting: ❑ Regular Meeting
BUFFALO GROVE POLICE
PENSION FUND
Police Pension Board Minutes
Regular Meeting
October 12, 2004
I. Call to Order—6:45PM
II. Attendance
Kristiansen—present Anderson—present Tenerelli -absent
Eisenmenger—present Feld—absent
Greenberg—absent Voigt—present
III. Minutes
❑ July 13, 2004 minutes read before the board
❑ Motion to accept the minutes by Trustee Kristiansen
■ Seconded by Mr. Voigt 3 ayes 0 nayes
IV. General Business
❑ Invoice paid to Mesirow Financial on 08/31/04 in the amount of$1857.16
❑ Trustee Kristiansen tendered a copy of Ofc. Mark Shreeves's retirement application to the board. Mark
will be retiring on 01/10/05 with 25 years of service
■ Motion to accept retirement application by Trustee Kristiansen
■ Seconded by Trustee Voigt 3 ayes 0 nayes
❑ Trustee Kristiansen was contacted by Oppenheimer&Co. Inc. requesting to provide oversight services to
the board. Board agreed that services were not needed at this time.
❑ Stratford Investment Advisory Group
■ Forecast—Weakening dollar; interests rates will continue to rise
■ Recommendation—
1. Purchase U.S. T-Strips due 11/15/12
2. Purchase U.S. T-Strips due 11/15/14
3. Purchase U.S. T-Strips due 11/15/20
4. Purchase S&P 500 Index Receipts
5. Purchase S&P 500 Index Receipts
6. Purchase NASDAQ 100 Trust
7. Purchase NASDAQ 100 Trust
Motion to accept recommendation by Trustee Kristiansen
Seconded by Trustee Eisenmenger 3 ayes 0 nays
■ Trustee Kristiansen requested Mr. Busby produce a year end report on all assets held by Stratford
Investment Advisory Group Financial
❑ Mesirow Financial
■ Forecast—Pessimistic due to war
■ Recommendation—
1. Purchase equities, spread out among funds
2. Sell Lord Abbett Dev Growth fund due to poor performance
Motion to accept the recommendation by Trustee Kristiansen
Seconded by Trustee Voigt 3 ayes 0 nayes
■ Trustee Kristiansen requested Mr. Ackerman produce a year end report on all assets held by Mesirow
Financial
❑ Next regular meeting scheduled for January 11, 2005
V.New Business
❑ None
VL Old Business
❑ None
VIL Adjournment — s:ooPM