Newtown Pension Committee
Minutes
February 13, 2012
The Newtown Pension Committee met on Monday, February 13, 2012 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Tom Murtha, Barbara Bloom, Mark Korotash, Frank Krasowski.
Also in attendance: Westport Resources, John Vaccaro, Rudy Polanski, Chris DeLaura and Joseph Tatusko, Carole Ross, HR
John Vaccaro introduced Mr. DeLaura as the new Portfolio Manager under the guidance of Mr. Polanski who is now semi-retired. Mr. DeLaura then advised the Committee of his background and qualifications. He gave an overview of the portfolio and the positioning of Westport Resources strategy for the Town Pension Plan. Mr. Tatusko gave a summary of the Fixed Income portion of the plan.
Mr. Vaccaro discussed his recommendation to reduce the targeted rate of return to 7.50%. Mr. Murtha requested of Mrs. Ross to contact Mr. Leonard to cost out this further reduction before sending the recommendation to the Board of Selectmen.
Approval of Minutes: Motion to approved and passed
Correspondence: None
Approval of bills: None
Report or requests from retirees: None
Election of Officers: Mr. Korotash moved to re-elect the current slate of officers. Motion passed.
Motion to adjourn: adjourned at 8:10
Carole Ross
Clerk
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