HomeMy WebLinkAboutCCDATE=APRIL 25, 2006 (2) ELGIN FIRE_PENS1O\.PUND,MlNUCES
April 25, 2006
• Meeting was called to order at 8:B0am by V. Beard
Roll Call:
Present. A. Bialek, 1. Lnppino, K. Nelson, S. Nmcicki. L. Mecum, M Falese, V. Beard
Absent E. Schuck.
nese Pat from Mm'gneue
C. Colliaq Board Councilor
LT FF S. Born
FF B. Schmidt
Miniil
The minute of the March muni meeting were roimred. A motion was made by J. Nolciebi to
remote a portion of the Treasurer repon %s hick bested that we were just under our
benchmark for the 2005 year. This implied thatwe had been under perfarming, but in fact
were doing slightly abmv our comparable market indexes. This was seconded by I.. Mecum.
Carried. A notion em, then made to nppmve tlae amnnded minutes by, INC Anlcae, seconded
In LTMcurti. Carried
TFaas%Report
Pat Kroleeh, from Margnntte and Associates covered -3- areas of discussion. Mptlml/Bund
• Fonds, Perfotmanse of Ariel, and Sudan Free Act. Afte.rdiscossingvariousfimdsandtlreir
performnnce it was recommended that $200.000 should be moved from Lyth the EuroPaci0c
and First Eagle to the, Northern 'I'rest fixed income to rebalance. This wzs motioned to
approve he M. Falese, seconded by 1 . Lnppino. Curried.
Further discussion ensued on specific flmds. It crus recommendsd that Hartford Capital
should remain on alert and Ariel Small Cap should he replaced by another fund. -g Funds
ere briellc discussed and would be sent to the hwestrnm committee for intervieos. The
International fiords ;could be left alone for now as ere are in compliance with the Sudan Free
Act at prroa.nL A detailed explanation can be found In Exhibit I, puges 3 through 5. Exhibit III
has signed letters of munagers of the fimda we ham that hoe signed off on the Sudan Free.
A motion was made to accept the Treasurer report, as presented by Pat form Marquette
Assoc, by K. Nelson, seconded by A. Rialele. Curried.
Seci_etnp_Reliurt
The new Statute cowering Fire Pension Fund Boards took affect on April t], 2006. The -2-
frefightarpositionsand er-retiredwere inplace bomelections held in April. K. Nelsovand
A. Bia ek ran unopposed for the -2- Broflghler positions. A motion was Bonds to accept the
results by V, Beard, seconded by M. Falese. Carried, with Nelson end Bialek abstaining.
• V. Bearal %%a, elected from the retired members for the retired position as follow<.