 |
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
May 3, 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 Wednesday, May 3, 2017 in the City Hall Auditorium.
Those in attendance included Mayor Elinor Carbone and members of the Board of Trustees of the City Employees Retirement Fund Drake Waldron, Anne Ruwet, Daniel Farley, Mark Zordan, Alan Regner, Gina Casper and City Treasurer Arthur Mattiello. Also present were members of the Board of Trustees of the Police & Firemen’s Pension Fund Angelo LaMonica, Richard Zaharek, Douglas Benedetto, Robert Conforti, Darlene Battle, Glenn McLeod, Oscar Segui, Tom Sterling and Edward Delisle.
Members Gregg Cogswell, Paul Cavagnero, Luisa Noujaim, Sheryl Lewis, Nancy Michna, Raymond Drew, Christopher Paganini, 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 first calendar quarter had strong positive returns across most segments of the market, and the S & P 500 Index was up 6.1% in the quarter.
He reported that the City Employees Plan is at $38,200,000 and the Police & Firemen’s Plan is at $56,100,000, an increase of 4.8% in the quarter and approximately 10.5% for the year. Mr. Tranghese said that he has no recommendations for changes to the portfolios at this time.
Minutes
On a motion by Commissioner Benedetto, seconded by Commissioner Conforti, the Boards voted unanimously to accept the minutes of the Special Joint Meeting held February 6, 2017.
Pension Computation: P. Kalisz
On a motion by Commissioner Battle, seconded by Commissioner Conforti, the Board of Trustees of the Police and Firemen's Pension Fund AFSCME Council 15, Local 442 voted unanimously to accept the revised pension computation effective November 3, 2016, for Paul Kalisz, Patrolman for the City of Torrington Police Department, after 12.76 years of service, tabled on February 6, 2017.
Pension Computation: M. Szabo
On a motion by Commissioner Benedetto, seconded by Commissioner Zaharek, the Board of Trustees of the Police and Firemen's Pension Fund AFSCME Council 15, Local 442 voted unanimously to accept the pension computation effective October 30, 2016 for Michael Szabo, Patrolman A for the City of Torrington Police Department, after 13.73 years of service, tabled on February 6, 2017.
Pension Computation: L. Venclauskas
On a motion by Commissioner Benedetto, seconded by Commissioner LaMonica, the Board of Trustees of the Police and Firemen's Pension Fund AFSCME Council 15, Local 442 voted unanimously to accept the pension computation effective April 4, 2017 for Linas Venclauskas, Lieutenant for the City of Torrington Police Department, after 29.88 years of service.
Pension Computation: D. Masciarelli
On a motion by Councilor Ruwet, seconded by Councilor Farley, the Board of Trustees of the City Employees' Retirement Fund, AFSCME Council 4, Local 2212 Public Works voted unanimously to accept the pension computation effective February 10, 2017, for David Masciarelli, Foreman for the City of Torrington Street Department, after 31.48 years of service.
Adjournment
On a motion by Commissioner Benedetto, seconded by Commissioner Conforti, the meeting was adjourned at 6:50 p.m.
ATTEST: Joseph L. Quartiero, CMC
City Clerk
Carol L. Anderson, CMC
Asst. City Clerk
| |
