APPROVED AT THE 3/26/14 BOARD MEETING
TOWN OF EAST HARTFORD
PENSION AND RETIREE BENEFITS BOARD
MINUTES
REGULAR MEETING
Wednesday, February 26, 2014
The meeting was called to order by Joseph Carlson, Chair at 5:45 P.M. in Conference Room B, East Hartford Town Hall. ~In addition to Mr. Carlson there were:
PRESENT: Esther Clarke, Member
Scott Thompson, Member
Frank Vignati, Member
ALSO PRESENT:~~~ Michael Walsh, Finance Director
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Ann Gineo, The Segal Company
John O’ Connor, 3D Asset Management
Chris Kachmar, Fiduciary Investments Advisors
ABSENT: Robert Damaschi, Member
- PUBLIC PARTICIPATION: ~None
2. ACCEPTANCE OF MINUTES:
a. ~~Acceptance of Minutes of Regular Meeting of January 29, 2014.
Esther Clarke made a motion to accept the minutes of January 29, 2014. Seconded by Frank Vignati.
Correction by Frank Vignati: Page 4 – motion was APPROVED
Minutes approved with stated correction.
3. COMMUNICATIONS:
Retirements and Final Calculations:
1. Phil Serkosky, Police Dept. DROP eff. 1/1/14
2. Erik Hanson, Police Dept., Retired from DROP eff, 1/24/14
3. Maurice Barksdale, Police Dept., DROP 12/26/13
4. Gregg Donato, Insp. & Permits, JAO 50% eff. 12/12/13
5. John Moreau, Pub. Works, JAO 50% eff. 12/3/13
Michael Walsh distributed two additional communications:
- Governor Malloy announces historic agreement to secure long-term commitment from United Technologies Corp. to Connecticut.
- Connecticut State Board of Mediation and Arbitration Labor Department (ruled in favor of the Town of East Hartford)
4. ~OLD BUSINESS: None at this time.
5. ~NEW BUSINESS: None at this time.
6. ~~REPORTS: ~
a. Pensions:
1. Summary of Portfolio Asset – January, 2014
2. Summary of Expenses – January 2014
3. Fiduciary Investment Advisors, LLC Report
4. 3D Asset Management Report
Discussion by Chris Kachmar, Fiduciary Investments Advisors.
This was accepted as information for the Board members.
b. OPEB Trust:
1. Summary of Portfolio Asset – January, 2014
2. Summary of Expenses – January 2014
3. Fiduciary Investment Advisors, LLC Report
4. 3 D Asset Management Report
Discussion by John O’Connor, 3D Asset Management
This was accepted as information for the Board members.
7. ~APPROVAL OF DISBURSEMENTS:
a. ~~~~Clerk for Pension & Ret. Benefit Board – February 26, 2014 ~~~~~~ ~~~~~~$ ~100.00
b. Convicer & Percy, #29925 dated 2/4/14 2,695.00
Motion by Frank Vignati, seconded by Esther Clarke to approve as presented for payment items
# 7. a-b.
Motion was voted; Motion was unanimously approved.
8. ~~~~~Adjournment: ~
There being no further business,
Motion by Scott Thompson, seconded by Frank Vignati to adjourn the meeting at 6:17 PM.
Motion was voted; Motion was unanimously approved.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Respectfully submitted,
Theresa Godreau, Clerk
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