MINUTES
SPECIAL JOINT MEETING OF THE BOARD OF TRUSTEES OF THE CITY EMPLOYEES’ RETIREMENT FUND AND THE BOARD OF TRUSTEES OF THE POLICE & FIREMEN’S PENSION FUND
February 6, 2017
A SPECIAL JOINT MEETING of the Board of Trustees of the City Employees Retirement Fund and the Board of Trustees of the Police & Firemen’s Pension Fund was held on Monday, February 6, 2017 in the City Hall Auditorium.
Those in attendance included Mayor Elinor Carbone, Corporation Counsel Jaime LaMere, members of the Board of Trustees of the City Employees Retirement Fund Drake Waldron, Gregg Cogswell, Anne Ruwet, Daniel Farley, Mark Zordan, Alan Regner, Nancy Michna, Raymond Drew, Gina Casper and City Treasurer Arthur Mattiello.
Also present were members of the Board of Trustees of the Police & Firemen’s Pension Fund Darlene Battle, Glenn McLeod, Tom Sterling and Edward Delisle.
Members Paul Cavagnero, Luisa Noujaim, Sheryl Lewis, Christopher Paganini, Richard Zaharek, Douglas Benedetto, Angelo LaMonica, Robert Conforti, Oscar Sequi and Todd Fador were absent.
Mayor Carbone called the meeting to order at 6:30 p.m. beginning with the Pledge of Allegiance.
Presentation: Fiduciary Investment Advisors
Mr. Anthony Tranghese updated the boards on the market performance saying the S & P 500 Index was up 12% so it was a good year in equity markets. He reported that both the City Employees Plan at $36,500,000 and the Police & Firemen’s Plan at $53,600,000 increased by over 6% in the year and that he has no recommendations for changes to the portfolios at this time.
Minutes
On a motion by Councilor Cogswell, seconded by Councilor Farley, the Board of Trustees of the City Employees’ Retirement Fund voted unanimously to accept the minutes of the Special Joint Meeting held November 2, 2016.
Tabled: Pension Comp. for P. Kalisz and M. Szabo AFSCME Council 15, Local 442
The Mayor tabled acceptance of the pension computations for Patrolman Paul Kalisz and Patrolman M. Szabo, due to a lack of representatives from the Police Department.
Pension Comp. for D. Larmett AFSCME Council 4, Local 2212 Public Works
On a motion by Councilor Waldron, seconded by Councilor Farley, the Board of Trustees of the City Employees’ Retirement Fund voted unanimously to accept the pension computation effective December 17, 2016 for Derek Larmett, Foreman for the City of Torrington Parks Department, after 34.82 years of service.
Pension Comp. for R. Washburn AFSCME Council 4, Local 2212 Public Works
On a motion by Councilor Farley, seconded by Councilor Ruwet, the Board of Trustees of the City Employees’ Retirement Fund voted unanimously to accept the pension computation effective January 3, 2017, for Ronald Washburn, Caretaker II for the City of Torrington Parks Department, after 18.22 years of service.
Adjournment
On a motion by Councilor Waldron, seconded by Councilor Cogswell, the meeting was adjourned at 6:45 p.m.
ATTEST: Joseph L. Quartiero, CMC
City Clerk
Carol L. Anderson, CMC
Asst. City Clerk
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