A SPECIAL 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 Monday, December 21, 2009, in the Senior Center Main Room.
Those in attendance included Mayor Ryan J. Bingham, Corporation Counsel Ernestine Yuille Weaver, members of the Board of Trustees of the City Employees Retirement Fund Paul F. Samele, Jr., Elinor Carbone, Thomas Jerram, Marie Soliani, Drake Waldron, Treasurer Arthur Mattiello, Delisse Locher, Nancy Michna, Raymond Drew, and David Prahm, Personnel Director Thomas Gritt and City Clerk Joseph Quartiero, members of the Board of Trustees of the Police & Firemen Pension Fund Gerald Zordan, Richard L. Zaharek, James E. Potter, Christopher H. Cook, and Darlene Battle, Lt. Michael Emanuel, Lt. Kevin Hayes, and Firefighter Edward Delisle. Members David Kissko, Angelo Alduini, Mark Kugler, Gail Gillette, Officer Robert Shopey and Richard Dalla Valle were absent.
Mayor Bingham called the meeting to order at 7:25 p.m.
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FIDUCIARY INVESTMENT ADVISORS, LLC. Anthony Tranghese of FIA presented an Executive Summary of the third quarter of 2009 for both pension plans.
REALLOCATE CITY EMPL. RET. FUNDS On a motion by Councilor Jerram, seconded by Councilor Soliani, the Board of Trustees of the City Employees' Retirement Fund voted unanimously to reduce the allocation to the Vanguard Intermediate Term Investment Grade Fund by half, allocate the proceeds to the Vanguard Total Bond Fund, and replace the current small cap fund with Selected Boston Trust Small Cap Fund.
REALLOCATE POLICE FIRE PENSION FUNDS On a motion by Commissioner Cook, seconded by Commissioner Zordan, the Board of Trustees of the Police and Firemen's Pension Fund voted unanimously to reduce the allocation to the Vanguard Intermediate Term Investment Grade Fund by half, allocate the proceeds to the Vanguard Total Bond Fund, and replace the current small cap fund with Selected Boston Trust Small Cap Fund.
ADJOURNMENT On a motion by Councilor Jerram, seconded by Commissioner Cook, both Boards voted unanimously to adjourn at 7:58 p.m.
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