Minutes - 04/08/2008 - Police Pension Fund BoardVILLAGE OF OAK BROOK
BOARD OF TRUSTEES OF THE POLICE PENSION FUND - Minutes
April 8, 2008
UNOFFICIAL UNTIL APPROVED AS WRITTEN
OR AS AMENDED BY BOARD OF TRUSTEES OF THE
POLICE PENSION FUND ON April 30, 2008
CALL TO ORDER
The Special Meeting of the Board of Trustees of the Oak Brook Police Pension Fund was called to order by
President Birdsall at 9 55 a m in the Upper Level Conference Room of the Butler Government Center,
1200 Oak Brook Road, Oak Brook, Illinois
2 ROLL CALL
The roll was called with the following persons
PRESENT Secretary Alan Feldman, Trustee Susan Templeton, President Robert Birdsall
ABSENT Vice President Michael Hall, Trustee Badowski
IN ATTENDANCE Darrell Langlois, Finance Director, Brian L Goding from Fiduciary Consultants, Inc , US
Bank Representatives Stacy Stoll, Winifred F Leathers, John G Harrington and Greg W Hartle, Citi
Consulting Representatives James A Kolbusz and Thomas J McShane, and Northern Trust Company
Representatives David M Cyganiak, Robert J Dow and James D Leckinger
3 APPROVAL OF MINUTES
4 UNFINISHED BUSINESS
a Interviews of Investment Consultants and Money Managers
1 Fiduciary Consultants, Inc
2 US Bank
3 Citi Consulting
4 Northern Trust Company
Discussion regarding "active" versus "passive" management of The Fund It was stated that "active"
management usually generates higher fees than "passive" management Discussion regarding hiring
consultant, rather than money manager, may put more emphasis on the Board to make decisions
Discussion regarding splitting The Fund, wherein a consultant would handle the equity portion if it was a
small firm Discussion regarding interviewing Falduto, Sawyer and MB Financial, as well as sending
Request for Proposal to Lowery Asset Management and Fifth Third Bank
5 ADJOURNMENT
Motion by Trustee Templeton, seconded by Secretary Feldman, to adjourn the meeting at 1 45 p m
VOICE VOTE Motion carried
ATTEST
/s/ Alan Feldman
Alan Feldman, Secretary
/s/ Rosemary A Kane
Rosemary A Kane, Recording Secretary
BOARD OF TRUSTEES OF THE POLICE PENSION FUND
Minutes Page 1 of 1 April 8, 2008