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Elk Grove Village Police Pension Board <br /> January 14a', 2014 Meeting Minutes <br /> The meeting was called to order at 5:00 PM by President Ambrose. Present were Trustee Ambrose, <br /> Trustee Torres, Trustee Moody, Trustee Greenberg, Sandy Smalley from the Elk Grove Village Finance <br /> Department, Doug Oest fi-ora Marquette Associates, Luke Meagher from Marquette Associates, and Inv. <br /> S. Berens in the audience. Absent was Trustee Partin. A quorum was present. <br /> The minutes of the last meeting, December 10"i, 2013, were read. A motion to approve the minutes of <br /> the last meeting was made by Trustee Moody, Second by Trustee Torres. Aye to approve: Moody, <br /> Torres, Greenberg and Ambrose. Motion carried. <br /> The treasurer's report was presented by Sandy Smalley. A motion to approve the treasurer's report was <br /> made by Trustee Moody, second by Torres. Aye to approve: Moody, Torres, Greenberg and Ambrose. <br /> Motion carried. <br /> Trustee Partin arrived at 5:05 PM. <br /> The financial advisors fiom Marquette Associates provided the financial report. A review of the Board's <br /> investments for fixed income, international small cap, and emerging markets were discussed. Oest and <br /> Meagher addressed their search recommendations and the reasons behind their recommendations. <br /> Trustee Partin requested an executive summary or"cheat sheet"to summarize the changes the Board has <br /> made with the new financial advisor. <br /> A motion to move the fixed income portfolio to a 50%-50% split between McDonnel Investments and CS <br /> McKee was made by Trustee Torres, Second by Trustee Partin. Aye to approve unanimous. Motion <br /> carried. <br /> A motion to move 2 '/z % of overall portfolio to DFA International Small Cap was made by Trustee <br /> Partin, Second by Trustee Moody. Aye to approve unanimous. Motion carried. <br /> A motion to move 2 '/ % of overall portfolio to Vanguard Emerging Markets was made by Trustee <br /> Parrin, Second by Trustee Greenberg. Aye to approve unanimous. Motion carried. <br /> A motion to adjust the asset allocation utilizing the 10% real estate allocation with 50% going to fixed <br /> income and 50% going to equity asset classes on a pro-rata basis was made by Trustee Torres, Second <br /> Trustee Moody. Aye to approve unanimous. Motion carried. <br /> A motion to allow the Treasurer and Elk Grove Village Finance Department work with Investment <br /> Advisor Marquette Associates as it relates to liquidity with a goal of being 100% invested was made by <br /> Trustee Moody, Second by Trustee Parrin. Aye to approve unanimous. Motion carried. <br /> The next meeting date was scheduled for April 8"i, 2014 at 3:30PM <br /> An update was presented regarding the disability application of Ofc. Sabo. The Board's attorney sent <br /> Ofc. Sabo a letter requesting his authorization of the release of personnel files from the Village of Elk <br /> Grove Village to the Police Pension Board. The Board and attorney are presently awaiting a response. <br /> An update was provided regarding the retirement of Commander Briggs. The Board's attorney has not <br /> received any response letter from Cmdr. Briggs's attorney to forward to the Illinois Department of <br /> Insurance. <br /> 1 <br />