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HomeMy WebLinkAboutFIRE PENSION - 06/14/1999 - MINUTES OF SPECIAL MEETING ELK GROVE FIREMEN'S PENSION FUND JUNE 14, 1999 CALL TO ORDER A special meeting of the Fireman's pension fund was held on June 14, 1999 in the Fire department administrative offices, 901 Brantwood Avenue. The meeting was called to order by President Richard Dugan at 7:15 p.m. ROLL CALL On roll call the following members were present; Richard Dugan, Jerry Norris,Hilda Ingebrigtsen, Mark Percudani, James MacArthur,and Brian McVeigh. Absent were; Craig Johnson,Patricia Smith, and George Knickerbocker. Also in attendance were, Richard Kreiger and Mary Tomanek of Solomon Smith Barney. MINUTES Three plans of investment were presented to the Board by Solomon Smith Barney and discussion in length took place on all three. A motion was made by Jerry Norris to accept investment asset allocation analysis option`B", seconded by Mark Percudani. Motion passed unanimously. A motion was made by Jerry Norris to start with initial investment of 25%of available funds. Then to contribute gradually in a timely quarterly and equal manor over a two year period, and to graduate at an amount of 35%. Seconded by Hilda Ingebrightsen, motion passed unanimously. A motion was made by James MacArthur subject to further review of our pension attorney that the board authorize our pension board president to sign the contract with Solomon Smith Barney with the noted changes that were discussed. Seconded by Jerry Norris the motion passed unanimously. A motion was made by James MacArthur to approve the statement of investment policy objectives and guidelines as presented at the previous meeting. Seconded by Jerry Norris, motion passed unanimously. TREASURES'S REPORT None OLD BUSINESS None NEW BUSINESS None ADJOURNMENT A motion was made by Jerry Norris to adjourn, seconded by Brian McVeigh. Meeting was adjourned at 8:33 p.m. The next meeting is, August 9, 1999 at 7 p.m. at the Fire department administrative offices.