Police Pension Minutes

North Aurora Police Pension
Board of Trustees
Special Meeting
Minutes of the meeting – June 11, 2013

The meeting was called to order at 5:05 pm, by Greg Manko. Roll call was conducted and members present were as follows: Greg Manko, Mary Licar, Brad Brown, Robyn Stecklein and Ray Treve. Also present were Board Attorney Charles Atwell, Bill Hannah from the Village of North Aurora, Ed MacMillian and Anise Hesson.

Audience Comments
None

Approval of Minutes
No minutes to approve.

New Business
This meeting is a special board meeting for presentation of RFP’s. The 3 companies selected to give presentations were Graystone Consulting, Sawyer Falduto and MB Financial.

Each company was given 20 minutes to present to the Board. Each presentation was followed by a question and answer session from the Board.

Discussion
A discussion was held after all the presentations were complete. All companies are competent; all companies follow statutory guidelines. The Board reviewed the presentations given by the companies and discussed the different investment management styles offered by the three firms, fees and past performance over the last several years.

After considerable discussion, a motion was made by Robyn Stecklein to stay with the current investment manager, MB Financial. This motion was seconded by Brad Brown. A roll call vote was taken: Manko – no; Stecklein – yes; Brown – yes; Licar – yes; Treve – yes. Motion passes.

Bill Hannah said he would coordinate with MB Financial for the development of a new a new investment management agreement for approval by the Board at the next regular meeting in July.

The next pension board meeting will be held on July 22, 2013 at 5pm.

A motion was made to adjorn the meeting by Brad Brown; seconded by Mary Licar. Roll call vote: Manko – yes; Stecklein – yes; Brown – yes, Licar – yes; Treve – yes; Motion passes.

Meeting adjourned at 7:10 p.m.

Greg Manko – President
Brad Brown – Secretary