Newtown Pension Committee
Minutes
July 18th, 2011
The Newtown Pension Committee met on Monday, July 18th, 2011 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Tom Murtha, Barbara Bloom, Frank Krasowski, Dunham Smith, Rich Monckton.
Absent: Steve Schaeffer (pending letter of resignation), Mark Korotash
Also in attendance: Carole Ross, Human Resources Administrator.
Public Participation: None
Approval of Minutes: The minutes for the meeting of March 21st, 2010 were approved as written.
Approval of bills: 4 invoices from TR Paul totaling $6017 were approved for payment.
Correspondence: Westport Resources sent a Performance Review for the second quarter of 2011 which was distributed to the members.
Reports or requests from retirees: None
Old business: A discussion took place regarding the survey of area towns to be done by David Leonard. A motion was made by Rich Monckton to have David Leonard conduct a study of more than five but less than twelve towns. Seconded by Frank Krasowski. The following questions will be asked:
What is the assumed rate of return?
What are the actual results in a five year period?
How is the fund balance divided?
What is the level of funding?
What are the fees paid to the investment manager?
Who is the investment manager?
A 60 day return date will be expected.
Motion to adjourn: 7:46
Carole Ross
Clerk
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