APPROVED AT THE FEBRUARY 24, 2010 MEETING
TOWN OF EAST HARTFORD
PENSION AND RETIREE BENEFIT BOARD
MINUTES
REGULAR MEETING
Wednesday, January 27, 2010
The meeting was called to order by Joseph Carlson, Chairman at 5:48 P.M. in the Town Council Majority Room, East Hartford Town Hall. In addition to Mr. Carlson there were
PRESENT: Barbara-Ann Rossi, Member
Frank Vignati, Member
Scott Thompson, Member
ABSENT: Kurt Christensen, Member
ALSO PRESENT: Michael Walsh, Finance Director
Christopher Kachmar, Fiduciary Investment Advisors, LLC
Jeff Capone, Fiduciary Investment Advisors, LLC
PUBLIC PARTICIPATION: None
ACCEPTANCE OF MINUTES
a. Acceptance of Minutes of Regular Meeting of December 16, 2009:
Motion by Mr. Vignati, seconded by Mr. Thompson to approve the Minutes of the Regular Meeting of December 16, 2009.
Motion was voted; Motion was unanimously approved.
3. COMMUNICATIONS: None
4. OLD BUSINESS: None
5. NEW BUSINESS:
a. Retirements, Final Calculations, Withdrawal of Contributions:
1. Retirements:
a. Lorenzo Sacdalan, BOE Custodian, Rule of ’85 JAO, eff. 11/27/09
Motion by Mr. Vignati, seconded by Mr. Thompson to approve as presented the retirements for
#a - 1. a.
Motion was voted; Motion was unanimously approved.
2. Withdrawal of Contributions - NONE
6. REPORTS:
a. Pensions:
1. Summary of Portfolio Asset – December, 2009
2. Summary of Expenses – December, 2009
3. Fiduciary Investment Advisors, LLC Report
This information was reviewed by the Board members.
Mr. Kachmar reviewed the fixed income portions of the pension noting $53,246,698 of value. Returns were above benchmarks.
This was accepted as information for the Board members.
4. 3D Asset Management Report
Members of 3D were absent due to illness.
b. OPEB Trust:
1. Summary of Portfolio Asset – December, 2009
2. Summary of Expenses – December, 2009
3. Fiduciary Investment Advisors, LLC Report
This information was reviewed by the Board members.
Mr. Kachmar noted $1,386,652 in assets at 12/31/2009 with returns above benchmarks.
This was accepted as information for the Board members.
4. 3D Asset Management Report
Members of 3D were absent due to illness.
7. APPROVAL OF DISBURSEMENTS:
a. Clerk for Pension & Ret. Benefit Board/January 27, 2010 meeting $ 100.00
b. FIA Quarterly Fee, Inv. #3520904 dated 12/31/09 8,750.50
c. The Segal Company, Inv. #129460 dated 1/4/10 7,675.50
Motion by Mr. Vignati, seconded by Ms. Rossi to approve as presented for payment items # 7. a, b. & c.
The motion was voted; Motion was unanimously approved.
8. ADJOURNMENT:
There being no further business,
Motion by Mr. Vignati, seconded by Ms. Rossi to adjourn the regular meeting at 6:19 P.M.
The motion was voted; Motion was unanimously approved.
Respectfully submitted,
Tatia Lewis, Clerk
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