MINUTES
BOARD OF TRUSTEES OF THE CITY EMPLOYEES’ RETIREMENT FUND
FEBRUARY 2, 2009
A REGULAR MEETING of the Board of Trustees of the City Employees’ Retirement Fund was held on Monday, February 2, 2009, in the Council Chambers.
Present were Mayor Ryan J. Bingham, Corporation Counsel Ernestine Yuille Weaver, Administrative Assistant to the Mayor Stephen Nocera, members of the Board of Trustees of the City Employees’ Retirement Fund Rick E. Dalla Valle, Elinor Carbone, Thomas Jerram, Marie P. Soliani, and Drake Waldron, Richard J. Friday, Joseph Manes, Delisse Locher, Nancy Michna, Raymond Drew, Gail Gillette, David Prahm. John Schnyer, Mark Kugler and Michael Colangelo were absent.
Mayor Bingham called the meeting to order at 6:30 p.m.
MINUTES #025
On a motion by Councilor Waldron, seconded by Councilor Dalla Valle, the board voted unanimously to accept the minutes of the regular meeting held January 20, 2009.
MINUTES #031
On a motion by Councilor Waldron, seconded by Councilor Dalla Valle, the board voted unanimously to accept the minutes of the special meeting held January 26, 2009.
FUNDS ALLOCATION #49
On a motion by Councilor Jerram, seconded by Councilor Soliani, the board voted unanimously to Initiate a 5% allocation to the Vanguard Intermediate Term Investment Grade Fund from Vanguard Total Bond Market Index Fund as recommended by Anthony Tranghese from FIA.
FUNDS ALLOCATION #56
On a motion by Councilor Waldron, seconded by Councilor Soliani, the board voted 6 to 2 to re-balance a 2% portion of the current fixed income overweight by reducing fixed income (Vanguard Total Bond Market Index Fund) and increasing equity (Vanguard 500 Index) as recommended by Anthony Tranghese from FIA. Councilor Jerram and Joseph Manes were opposed.
BUS: BD OF TRUSTEES #066
On a motion by Councilor Jerram, seconded by Richard Friday, the board voted unanimously to consider business presented by the Board of Trustees of the City Employees’ Retirement Fund.
ADJOURNMENT #074
On a motion by Councilor Jerram, seconded by Councilor Waldron, the board voted unanimously to adjourn at 6:33 p.m.
ATTEST: JOSEPH L. QUARTIERO, CMC
CITY CLERK
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