Newtown Pension Committee
Minutes
June 24, 2013
The Newtown Pension Committee met on Monday June 24, 2013 in the lower meeting room of Town Hall South. The meeting was called to order at 7:35pm.
Present: Barbara Bloom, Tom Murtha, Dunham Smith, Mark Korotash, Frank Krasowski, Joe DiCandido.
Also in attendance: Carole Ross, HR.
Public Participation: None
Approval of Minutes: Minutes were approved as written for April 2013
Correspondence: None
Approval of bills: None
Reports or requests from retirees: None
Continued discussion of rate of return and investment plan:
A discussion took place regarding reducing the rate of return for budget year 2014-2015. The rate of return will be reduced for the budget year 2013-2014 to 7.5% as recommended to the Trustees and motion passed at the August 2012 Board of Selectman meeting. It was decided to delay any further reduction, if at all, until next year.
Further discussion was held regarding the suggestion by Westport Resources of changes to the investment policy. It was decided to invite Westport Resources to the September meeting prior to making a recommendation to the Trustees.
Motion to adjourn: adjourned at 8:15
Carole Ross
Clerk
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