MINUTES
REGULAR MEETING OF THE BOARD OF TRUSTEES OF THE POLICE AND FIREMEN’S PENSION FUND
May 6, 2015
A REGULAR MEETING of the Board of Trustees of the Police & Firemen Pension Fund was held on Wednesday, May 6, 2015 in the City Hall Auditorium. Mayor Carbone explained that the Special Joint Meeting with the Board of Trustees of the City Employees’ Retirement Fund could not proceed due to a lack of quorum on that Board.
Those in attendance included Mayor Elinor Carbone and Members of the Police & Firemen’s Pension Fund Douglas Benedetto, Robert Conforti, Glenn McLeod, Richard Zaharek, Darlene Battle, Angelo LaMonica, Lt. Edward Delisle and Det. Stephen Krzanowski. Members Off. Oscar Segui and Firefighter Alex Rehnberg were absent. Mr. Anthony Tranghese of FIA was also present as well as Board of Trustees of the City Employees’ Retirement Fund Member John Schnyer.
Mayor Carbone called the meeting to order at 6:30 p.m. beginning with the Pledge of Allegiance.
Presentation: FIA
Mr. Tranghese said the year started off very strong in markets with international equities and fixed income also doing very well. He said the Police and Firemen’s Plan ended at $55,300,000 at the end of the first quarter and the City Employee Plan ended at $36,500,000. Mr. Tranghese said that the asset allocation of the two plans is intentionally very similar, and explained their diversification categories. He said the portfolios have strong annualized returns of 8% over six years’ time in a generally positive environment for investing.
Minutes
On a motion by Commissioner Battle, seconded by Commissioner Conforti, the Board voted unanimously to accept the minutes of the regular meeting held March 4, 2015.
Pension Computation: FF R. Prince
On a motion by Commissioner Benedetto, seconded by Commissioner Zaharek, the Board voted unanimously to accept the pension computation for Firefighter Richard Prince, effective March 1, 2015, after completing 25.02 years of service.
Adjournment
On a motion by Commissioner Benedetto, seconded by Commissioner Conforti, the meeting was adjourned at
6:39 p.m.
ATTEST: Joseph L. Quartiero, CMC
City Clerk
Carol L. Anderson, CMC
Asst. City Clerk
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