HomeMy WebLinkAboutCCDATE=OCTOBER 26, 2001 Law
ELGIN PIRF. PENSION BOARD
MINUTES
October 26. 2001
Meeting was called to order at 390pm.
Roll: limsanL A. Nilek, 3. Nuwicki, K. Nelson,
V. heard. L. MlVuto, 'I'. Michaels
Absent EIDennis. Ed Shock
Guest: L. Rankin, Marquette Group, C. Collins
Minutes
Ma 71119 vo called to order m 9:48a by 'I'. Michaels. M1mmx of the August meeting wore read
and approved on a motion by V.lteard, '.teconded by K. Nelson, C'nrrled.
Tmia am report.
Financial reportwax covered by L. Rankim; and (INC mentborz discuceed upcoming chmiyka to the
portfolio. Thu-3- separate Annuity accounts, Hanford, Guardian, Keyport wire discussed and a
motion was mMe to liquidate them, at the proper date and erne, coni put into the GCI Pond iitil a
ce,mrimendation was made from the Investment wnmtlnce on what to reinvest them in. This
• was mode by V. ftcnd, seconded by I. Nuwicki, curried.
A soMestion eras made by C. Collins to have quarterly Vn listment percentages covered in We
Treasurers plain, comparing the portfolio' mci cases or decreases in value. This could be
dune.
flue investment aotmniucc "mold be meetingwithin dm wackier no neer reinvestment strategies
and bring back tm the Hoard their recommendation for npplam A atm before the next regular
Fri
A motion war nmdo to accept the Treasures "port by K. Nelson, seconded by A. Bialok,
Carried.
Scgretary Report
.An application was received from Dep Chief Saler for regular rctiranat. Aactlon was made
to approve his applicationby A. Rialek, seromlealby L. Mecum- tamed. Ilis monthlyparulon
will be 54140.9].
A viatica was made to pay tees Drool 2001 quarterly retainer fee to C Collins of$300.00. by A.
Rialek, seconded by v. Beard. Capped.
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