Newtown Pension Committee
Minutes
April 22, 2013
The Newtown Pension Committee met on Monday April 22, 2013 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Barbara Bloom, Tom Murtha, Dunham Smith, Mark Korotash.
Also in attendance: Carole Ross, HR, Westport Resources
Presentation by Westport Resources:
Westport Resources presented possibilities to discuss changes to allocation of the investment policy. Included in the scenarios would be a lowering of the bond/equity distribution which now is 60% - 40% to 65% - 35%. Another idea would be to include BB rated bonds in the portfolio. Including Exchange Traded Funds (ETF) was also discussed. The rate of return as of July 1st, 2013 will be 7.5%. This will also be discussed by the Pension Committee to continue lowering to 7% for next fiscal year. A total review of the portfolio was presented with historical background.
The Pension Committee will discuss these ideas at the May 20th meeting with further discussion with Westport Resources in September before presenting any policy changes to the Board of Selectmen.
Public participation: None
Approval of Minutes: The minutes of February 25th, 2013 were approved
Correspondence: None
Approval of bills: 2 invoices in the amounts of $280 and $2490 were approved
Requests from retirees: None
Motion to adjourn: adjourned at 8:42
Carole Ross
Clerk
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