MUNICIPAL PENSION BOARD MINUTES
TUESDAY, April 11, 2017
The monthly meeting of the Municipal Pension Board was called to order at 5:04 p.m. by Chair, John Beardsley.
Present: ~ John Beardsley, William Kroll, Michael Lupkas, Marci Nogueira, John DiRoma, George Delmastro, Maryann Santos.
Also present: ~ Patrick Sheehan and Mark Hammond from Stifel, Nicolaus & Co., Inc.
February 14, 2017 MINUTES – A motion was made by John DiRoma and William Kroll (second) to accept the minutes. ~Passed unanimously. ~~~(There was no March 2017 meeting due to inclement weather).
FINANCIAL REPORTS - MICHAEL LUPKAS presented the financial reports for February and March 2017. ~There was a motion to accept the financial reports George Delmastro (second). ~Passed unanimously. ~~~
RFP Status – Mike Lupkas discussed the appointment for Hooker & Holcombe to assist in the request for the proposal investment advisors. Update will be given in our next meeting.
ROSE KEVORKIAN presented the following applications for retirement:
Ralph Avitable – Mechanic BOE, Normal Retirement, 50% Joint & Survivor. Effective date 3/10/17. Monthly pension benefit, $4361.31. There was a motion to accept Ralph Avitable’s pension application by John Beardsley and George Delmastro (second). Passed unanimously.
Edna Wrinn – Paraprofessional, Normal Retirement, Normal Form. Effective date 4/22/17. Monthly pension benefit, $881.61. There was a motion to accept Edna Wrinn’s pension application by John Beardsley and George Delmastro (second). Passed unanimously.
Meriden Retirement Fund
See Attached from Stifel, Nicolaus & Company
William Kroll and Michael Cardona (second) made the following motion:
Resolved, that the Meriden Retirement Board authorizes the sale of the Central Park Group Carlyle Fund from the OPEB Health Trust account, and further directs the sale of the multi-manager Futures Portfolio Fund from the City Employees Fund M and the Police/Fire Fund H with proceeds reallocated to existing alternative funds, as previously approved by Board resolution on September 10, 2013.~
(9/10/2013) – Resolved, that the Meriden Retirement Board authorizes Michael Lupkas, as its signatory, to approve additions or reductions in capital allocations to the Futures Portfolio Fund (Steben FPF) within the limits set forth in the Board’s Investment Policy Statement, and in compliance with the direction of the Board.
Adjournment at 6:11 p.m. ~Motion by Michael Cardona and Justino Sampaio(second). ~Passed unanimously.
Municipal Pension Board