MINUTES
BOARD OF TRUSTEES OF THE CITY EMPLOYEES’ RETIREMENT FUND
JANUARY 5, 2009
A REGULAR MEETING of the Board of Trustees of the City Employees’ Retirement Fund was held on Monday, January 5, 2009, in the Council Chambers.
Present were Mayor Ryan J. Bingham, members of the Board of Trustees of the City Employees’ Retirement Fund Rick E. Dalla Valle, Michael Colangelo, Elinor Carbone, Thomas Jerram, Marie P. Soliani, and Drake Waldron, Richard J. Friday, Joseph Manes, Delisse Locher, Raymond Drew, Gail Gillette, David Prahm, and Mark Kugler. John Schnyer and Nancy Michna were absent.
Mayor Bingham called the meeting to order at 6:30 p.m.
MINUTES #025
On a motion by Councilor Jerram, seconded by Councilor Waldron, the board voted unanimously to accept the minutes of the regular meeting held November 3, 2008.
TREASURER’S REPORT #030
On a motion by Councilor Waldron, seconded by Councilor Jerram, the board voted unanimously to accept the Treasurer’s Report for 7/1/07 to 6/30/08.
LETTER OF RETIREMENT: MICHAEL MICHAUD #040
On a motion by Councilor Waldron, seconded by Councilor Dalla Valle, the board voted unanimously to accept the letter of retirement from Michael Michaud, Fleet Manager, effective January 3, 2009 after having completed 35 years of service with the City of Torrington.
PENSION COMPUTATION: MICHAEL MICHAUD #050
On a motion by Councilor Waldron, seconded by Councilor Colangelo, the board voted unanimously to accept the pension computation for Michael Michaud.
Mayor Bingham noted that the retirement of Mr. Michaud is a big loss for the City.
Councilor Dalla Valle requested a letter of appreciation be sent to Mr. Michaud for his many years of service on behalf of the Mayor and the Council.
BUS: BD OF TRUSTEES #060
On a motion by Councilor Waldron, seconded by Councilor Jerram, the board voted unanimously to consider business presented by the Board of Trustees of the City Employees’ Retirement Fund.
Joseph Manes inquired when the board might hear a presentation from their new pension consultant, Fiduciary Investment Advisors, LLC.
Mayor Bingham indicated that has office was in touch with Fiduciary Investment Advisors in November to see how the process was going and was informed that they will give the board a report on its progress at the beginning of the year. A combined trustees meeting will be held in the near future.
ADJOURNMENT #095
On a motion by Councilor Colangelo, seconded by Councilor Dalla Valle, the board voted unanimously to adjourn at 6:35 p.m.
ATTEST: JOSEPH l. QUARTIERO, CMC
CITY CLERK
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