MINUTES
REGULAR MEETING OF THE
BOARD OF TRUSTEES OF THE POLICE AND FIREMEN'S PENSION FUND
June 6, 2012
A Regular Meeting of the Board of Trustees of the Police and Firemen's Pension Fund was held on Wednesday, June 6, 2012 in the City Hall auditorium.
Mayor Ryan Bingham opened the meeting at 6:30 p.m.
Present were Mayor Ryan Bingham, Corporation Counsel Ernestine Yuille Weaver, Commissioner Douglas Benedetto, Commissioner Christopher Cook, Commissioner James Potter, Commissioner Angelo LaMonica, Commissioner Richard Zaharek, Commissioner Darlene Battle, Firefighter Ed Delisle, Firefighter Michael Soliani, Police Lt. Michael Emanuel and City Treasurer Arthur Mattiello. Officer Oscar Segui was absent.
MINUTES
On a motion by Commissioner Benedetto, seconded by Commissioner Battle, the Board voted unanimously to accept the minutes of the regular meeting held March 7, 2012.
ACCEPT RETIREMENT COMPUTATION: P. Misani
On a motion by Commissioner Potter, seconded by Commissioner Cook, the Board voted unanimously to accept the pension computation for Peter Misani, Lieutenant for the City of Torrington Fire Department, effective February 26, 2012, after having completed 28 years of service.
ACCEPT RETIREMENT COMPUTATION CORRECTION: Francis Hine
On a motion by Commissioner Benedetto, seconded by Commissioner Zaharek, the Board voted unanimously to accept the pension computation correction for retiree Francis Hine.
ACCEPT RETIREMENT COMPUTATION: R. Currier
On a motion by Commissioner Potter, seconded by Commissioner Benedetto, the Board voted unanimously to accept the pension computation for Ronald Currier, Patrolman for the City of Torrington Police Department, effective April 29, 2012, after having completed 26 years of service.
PRESENTATION: Third Quarter Results
City Treasurer Mattiello recounted FIA's recommendation for Torrington's Police and Firemen's Pension Fund, from their first quarter results presentation on May 7, 2012. He said the Fund is now at $41,904,000, a 3.5% increase in that first quarter. It performed at its benchmark but in the next six weeks it did go down a little bit, reflective of the economy, he said.
Mr. Mattiello said the Eaton Vance manager has been on watch status for four quarters. Because Eaton Vance was not performing, FIA recommended they be eliminated, he said.
TRANSFER FUNDS
On a motion by Commissioner Potter, seconded by Commissioner Cook, the Board voted unanimously to approve FIA's recommendation and close out the Eaton Vance Large Cap Value Fund, moving those funds to MFS Value Fund.
BUSINESS
On a motion by Commissioner Cook, seconded by Commissioner Benedetto, the Board voted unanimously to consider business from Board of Trustees. No business was presented.
ADJOURNMENT
On a motion by Commissioner Benedetto, seconded by Commissioner LaMonica, the Board voted unanimously to adjourn at 6:34 pm.
ATTEST: Joseph L. Quartiero, CMC
City Clerk
Respectfully Submitted,
Carol L. Anderson, CCTC
Asst. City Clerk
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