HomeMy WebLinkAboutCCDATE=APRIL 21, 2004 (2) • EEGINFIREYENSIVN�PUNDrMINUTF.S
April -" 2004
Meeting wys called to order at 8:42anr President V. Beard.
Moll Call by Secretary- K. Nelson.
Pre5cnC
V. Beard, K, Nelson, E. Scho ib, T. Miahacle, A. 6ialel:, J. Nowicki(0940)
Ahscng 1.. Mecum, M. Palace
Guest P. Krolak, C, Collins
Mliutns
Theminntnanfthe.Ianuury22, 2004ureeHngwerereadewed. Mofiontoamept
the minutes was made by A. Bialck, seconded by E. Schock. Carried.
Knox reports from December 2003 through March 2004 were revimved.
Anionic repairs from January through March 2004 were reviewed.
Marquette Executive Summary for s* quarter, 2004 was presented to the Board
by P. Kwdak. I'lie Pension Fund finished the litquarterof 2004 with a balance of
439,949,x64. Return for the quarter was 3.5% and 21.5% for the trailing twelvw,.
musith period.
Motion to anoopt the Marquette and Knox March reports made by J. Nowicki,
seconded by K. Nelson. Carried.
P. Kallak advised the Board that we ars aver weighted in equities and
reconimonded a rebalance; recommendation is to move 3600K from Euro Pacific
and $2o9K from Hartford into the internally managed Northern Trust Fund.
Motion to approve recommended fimd transfers made by K Nelson, seconded by
A. Bialek. Roll call vote held, motion approved 5-m
Marquette contract is rip, P. Kmlak advised Board they are working on drawing
up new paperwork.
$E:LtiryIR p-d
The Board was notified of o letter of notice received by C. Callim office advising
of an increase in attorney fees. The quarterly retainer per quarter will be $65o,
and an hourly rate of 8150 £oradversmial matters. Motion to approve new fee
• schedule made by T. Michaels, seconded by A. Bialek. Carried.