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MINUTES
REGULAR JOINT MEETING OF THE BOARD OF TRUSTEES OF THE CITY EMPLOYEES’ RETIREMENT FUND
AND THE BOARD OF TRUSTEES OF THE POLICE AND FIREMEN’S PENSION FUND
August 7, 2014
A REGULAR JOINT MEETING of the Board of Trustees of the Police & Firemen Pension Fund and the Board of Trustees of the City Employees Retirement Fund was held on Thursday, August 7, 2014 in the City Hall Auditorium, having been adjourned from Wednesday, August 6, 2014.
Those in attendance included Mayor Elinor Carbone, Corporation Counsel Raymond Rigat, members of the Board of Trustees of the City Employees Retirement Fund Gregg Cogswell, Anne Ruwet, Mark Zordan, Gail Sartori, John Schnyer, Nancy Michna, Craig Audio and Mark Kugler, and Members of the Police & Firemen’s Pension Fund Angelo LaMonica, Richard Zaharek, Douglas Benedetto, Robert Conforti, Darlene Battle, Glenn McLeod, Edward Delisle, and Stephen Krzanowski. Members Paul Cavagnero, Paul Samele, Drake Waldron, Christopher Anderson, Sheryl Lewis, Raymond Drew, Michael Soliani and Oscar Segui were absent. Comptroller Alice Proulx and Personnel Director Thomas Gritt were also present, along with Anthony Tranghese of FIA.
Mayor Carbone called the meeting to order at 6:08 p.m.
PRESENTATION
On a motion by Commissioner Benedetto, seconded by Commissioner Zaharek, Mr. Tranghese updated the boards on the portfolios’ status, saying that almost every index was in positive territory during the second quarter of this year, and the portfolios were up about 3.5% for the quarter, and 4.5% for the year. He said the portfolios are positioned to continue to produce strong performance.
MINUTES - CITY EMPLOYEES’ RETIREMENT FUND
On a motion by Councilor Cogswell, seconded by Councilor Ruwet, the Board voted unanimously to accept the minutes of the meeting held jointly with the Board of Trustees of the Police and Firemen’s Pension Fund on July 7, 2014.
On a motion by Councilor Cogswell, seconded by Councilor Ruwet, the Board voted unanimously to accept the minutes of the regular meeting held on July 7, 2014.
MINUTES – POLICE & FIREMEN’S PENSION FUND
On a motion by Commissioner Battle, seconded by Commissioner Conforti, the Board voted unanimously to accept the minutes of the meeting held jointly with the Board of Trustees of the City Employees’ Retirement Fund on July 7, 2014. Commissioner Benedetto abstained.
On a motion by Commissioner Battle, seconded by Commissioner Conforti, the Board voted unanimously to accept the minutes of the regular meeting held on July 9, 2014.
PENSION COMPUTATIONS IAFF LOCAL 1567
On a motion by Commissioner Benedetto, seconded by Commissioner LaMonica, the Board voted unanimously to accept the following pension computations:
a) Michael Morris, Patrolman, effective February 28, 2014, after 25 years of service
b) Mark Zbell, Patrolman, effective May 30, 2014, after 25 years of service
c) Francis Balzano, Captain, effective June 13, 2014, after 26 years of service
d) Joseph Locascio, Sergeant, effective June 14, 2014, after 26.36 years of service
e) John Murphy, Patrolman, effective June 12, 2014, after 27 years of service
f) Bruce Whiteley, Lieutenant, effective June 21, after 27 years of service
g) David Wood, Lieutenant, effective June 20, 2014 after 25.42 years of service
h) Todd Schaller, Captain, effective June 21, 2014 after 27 years of service
ADJOURNMENT
On a motion by Commissioner Benedetto, seconded by Commissioner LaMonica, the meeting was adjourned at 6:27 p.m.
ATTEST: Joseph L. Quartiero, CMC
City Clerk
Carol L. Anderson, CMC
Asst. City Clerk
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