8-11-22 Police Officers' Pension Board of Trustees Adopted MinutesYS 1 4j- MINUTES
�s Police Officers' Pension Board of Trustees
Meeting
Thursday, August 11, 2022 - 6:30 PM
Commission Chamber
Present: Chase Jamison, Member
Ed Peck, Member
Tim Anderson, Member
Robert (Bob) Liggero, P-PBOT Chair
John Miller, P-PBOT Member
Absent:
Also Present:
1.
2.
3.
4.
CALL TO ORDER
Melissa Burns, Director of Finance
COURTESY OF THE FLOOR TO VISITORS
APPROVAL OF MINUTES
A. Approve minutes of the May 12, 2022 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION. Motion to approve minutes as presented.
Motion: Robert (Bob) Liggero
Second. John Miller
Robert (Bob) Liggero (Moved By) For
Chase Jamison For
Ed Peck For
Tim Anderson For
John Miller (Seconded By) For
Motion passed 5 to 0.
REPORTS
A. Recap of investment performance for the period ended June 30, 2022
David Wheeler and Timothy Haugaard of Graystone Consulting presented the 2nd
Quarter 2022 Performance Report. The total value at the end of the quarter was
$14,376,874.31.
Police Officers' Pension Board of Trustees
August 11, 2022
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Quarter to Date (4/l/2022-6/30/2022) - (11.04%)
Performance Since Inception - 6.99%
Recommendations were made to allocate the additional funds invested in the fund.
B. Update of Investment Policy Statement
David Wheeler presented a change needed to the Board's Investment Policy Statement
(IPS) to include Atlernatives in is Specialty asset class with a maximum target of 15%.
Additionally, verbiage was included as needed in the body of the IPS referencing the use
of alternative investment funds.
C. Effect of changing the target rate of return on investments
Item was discussed and will be brough back as an agenda item at the next board meeting.
D. Expenditure and Fund Balance reports for the period ended June 30, 2022
Reports are for informational purposes only. No discussion occured.
5. DISCUSSION WITH PENSION BOARD ATTORNEY
No actionable items.
-Reminded board members to send in their financial disclosure forms if they haven't already
-Apprised board members of possible legislation in the future related to police officers and
health insurance.
A. Application for Disability Retirement
Outlined the process of granting disability retirement as there is a potential applicant
submitting an application to the Board.
6. NEW BUSINESS
A. FY2023 Proposed Police Officers' Pension Budget
MOTION: Motion to approve as presented
Motion: Tim Anderson
Second: Chase Jamison
Chase Jamison (Seconded By) For
Ed Peck For
Tim Anderson (Moved By) For
Robert (Bob) Liggero For
John Miller For
Motion passed S to 0.
Police Officers' Pension Board of Trustees
August 11, 2022
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7.
Attest:
ADJOURNMENT
There being no further discussion, Chair Liggero declared the meeting adjourned at 7:50 p.m.
Melissa Burns, Plan Administrator
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Robert (Bob) iggero
Police Officers' Pension Board of Trustees
August 11, 2022
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