Pension Committee
Friday, February 05 2010
Pension Committee Meeting
February 5, 2010
On Friday, February 5, 2010, a joint meeting of the Non-Uniformed
and Uniformed Employees Pension Committee was held at 8:30 a.m. at the Township Administration
Building.
Members present were:
Walter Henkel, Chairman, Non-Uniformed and Uniformed Employee
Pension Committees
George F. Komelasky, Member, Non-Uniformed and Uniformed
Employees
Pension Committees
Lonnie Murdock, Member, Non-Uniformed Employees Pension
Committee
Excused:John Gross, Member, Uniformed Employees Pension
Committee
Others present were:
Robert M. Pellegrino, Township Manager
Robert Armelin, Finance Director
Dolores C. Mitchell, Administrative Assistant
Mr. Henkel called the meeting to order at 8:30 a.m.
Investment Policy Statement
The pension committee members reviewed and discussed the revised
Investment Policy Statement and the comments and suggestions submitted by Ken Coniglio and Floyd Carl.Mr. Pellegrino
will revise the IPS in accordance with the discussion and comments of this meeting, i.e., Prohibited Securities,
Asset Allocation and Manager Risk. Mr. Henkel requested that the Uniformed Employee Representative, John Gross, be
supplied with a copy of the changes to the IPS, and that he provide a written statement that he has reviewed it and
is in agreement. A motion (Komelasky-Murdock) that the Investment Policy Statement as revised in accordance with the
discussions of this meeting, be
submitted to the Board of Supervisors on February 24, 2010, for
approval and adoption. Motion Passed unanimously.After adoption a copy of the revised Investment
Policy Statement should be given to all members and the investment advisors.
Consent Items:
Minutes of January 26, 2010.Mr. Henkel requested that the minutes be revised to include on page 2, under
Investment Policy Statement:"The adopted IPS will remain in force until amended."A motion (Komelasky-Murdock) was
made to approve the minutes of January 26, 2010, as amended.Motion passed unanimously.
Pension Committee Meeting
February 5, 2010
Page 2
Mockenhaupt Benefits Group
Mr. Pellegrino advised that Mockenhaupt, the Township's Actuary,
will attend the April meeting of the Pension Committee.They are currently determining the stress level of our pension
plans and also providing pension statements for all employees.
Next Pension Meeting
The joint pension committees decided that regular meetings will
be held in the fourth week of the month following each quarter.Mr. Pellegrino will send a tentative meeting schedule
to the committee members.
Adjournment - Mr. Henkel called for a motion for adjournment at 9:35 a.m.A motion was made (Murdock-Komelasky)
and Passed unanimously.
Prepared by:
Dolores C. Mitchell, Administrative Assistant
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