Minutes - 05/15/2007 - Police Pension Fund BoardMINUTES OF THE MAY 15, 2007 SPECIAL MEETING
OF THE BOARD OF TRUSTEES OF THE OAK BROOK
POLICE PENSION FUND APPROVED AS WRITTEN
ON JULY 25, 2007.
1. 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 7:10 p.m. in the Forest View
Room, Hyatt Lodge, 2815 Jorie Boulevard, Oak Brook, IL.
2. ROLL CALL
Pension Clerk Gonnella called the roll with the following persons
PRESENT: President Robert Birdsall, Vice President Michael Hall, Secretary
Alan Feldman and Trustee Richard Badowski.
ABSENT: Trustee Susan Templeton.
IN ATTENDANCE: Darrell J. Langlois, Finance Director; Vice Presidents
Terese Krafcheck and Douglas Madigan, MB Financial; Lt. Jeff
Weber, Detective Brian Molloy, Officers Robert Christopherson
and Scott Warren; Pension Recipients Vincent Artl, Al
Borkovec, Ed Caspers, Richard Leck and Tom Russell.
3. UNFINISHED BUSINESS
a. Ratification of Certificate of Disability — Michael Ciolino
President Birdsall requested a motion to ratify Dr. Moisan's Certificate of
Disability of Michael Ciolino's annual medical examination as presented.
Motion by President Birdsall, seconded by Vice President Hall, to ratify Dr.
Moisan's Certificate of Disability of Michael Ciolino as presented.
ROLL CALL VOTE:
Ayes: 4 — President Birdsall, Vice President Hall, Secretary Feldman and
Trustee Badowski.
Nays: 0 —None.
Absent: 1 — Trustee Templeton.
4. NEW BUSINESS
a. Investment Management Presentation — MB Financial
Tom Sawyer, MB Financial, gave the investment presentation. He indicated
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POLICE PENSION FUND Minutes
Q
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a.
that the portfolio performance review for the first quarter of the money
market return was 1.26% with a year -to -date return of 1.69 %; the fixed
income return was 1.63% with a year -to -date return of 2.19% and the equity
return was 2.21% with a year -to -date return of 6.12 %. The total account
return for the first quarter of 2007 was 1.90% with a year -to -date of 3.70 %.
Since inception the annual performance of The Fund is 6.48 %, stocks
5.95 %, bonds 5.59% and T -bills 3.63 %.
The portfolio allocations of The Fund are Large Cap US stocks 28 %, fixed
income 54 %, Small Cap US stocks 8 %, International stocks 7 %, Real Estate
Investment Trust 2% and cash 1%. Doug Madigan then gave an economic
and financial commentary from the Asset Management & Trust Group of
MB Financial.
ADJOURNMENT
Motion by Secretary Feldman, seconded by Trustee Badowski, to adjourn the
meeting at 7:45 p.m. VOICE VOTE: Motion carried.
ATTEST:
s\Alan Feldman
Secretary
s \Linda K. Gonnella
Recording Secretary
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POLICE PENSION FUND Minutes