Board of Public Works Retirement System Trustees

08-30-11 1 BOARD OF TRUSTEES Division of Public Works Retirement System Meeting Minutes August 30, 2011 A meeting of the Board of Trustees, Public Works Retirement System was held at 11:30 a.m. on Tuesday, August 30, 2011, in the DPW Conference Room located at 9 Riverside Street. Chairman Commissioner Don Dyer presided. Trustees Present: Frank Anderson, Mayoral Appointee David Essensa, Employee Member Ben Bashua, Employee Member Trustees Absent: Kathryn Vitale, Aldermanic Liaison Others in Attendance: Kathleen Carragan, Administrative Assistant Carolyn O’Connor, DPW Finance Manager Others Absent: David Fredette, City Treasurer Expected Visitors: None Minutes of the Meeting: The minutes of the August 02, 2011 Meeting were presented for review and acceptance. MOTION BY: Trustee Anderson moved to accept, place on file, and approve the minutes of the August 02, 2011 Meeting. SECONDED BY: Chairman Dyer MOTION CARRIED: Unanimously Personnel – The resignation of John Demers was presented to the Trustees by Ms. Carragan for approval. Mr. Demers elected to receive a lump sum distribution. MOTION BY: Trustee Essensa moved to approve the resignation and lump sum distribution to John Demers as presented SECONDED BY: Trustee Anderson MOTION CARRIED: Unanimously 08-30-11 2 Old Business: The review and discussion of the Investment Policy was held until next regularly scheduled meeting. New Business: Ms. Conti presented her Invoice #86, for $ 100.00, for meeting preparation, general administrative work. MOTION BY: Chairman Dyer moved to approve the payment of Invoice #86, for $ 100.00, as submitted by Kathleen Carragan. SECONDED BY: Trustee Essensa MOTION CARRIED: Unanimously Approval of the distribution of funds for the period July 01, 2011 thru August 02, 2011, in the amount of $232,337.15 was presented to the Board. The Trustees reviewed the detail. MOTION BY: Chairman Dyer moved to approve the distribution of funds for the period as presented. SECONDED BY: Trustee Anderson MOTION CARRIED: Unanimously Correspondence – None Period for Public Comment – None Items by Trustees – None Items by the Chairman – Date for next meeting was set for Tuesday September 27, 2011 at 11:30am. MOTION TO ADJOURN: Chairman moved to adjourn at 11:50 pm SECONDED BY: Trustee Essensa MOTION CARRIED: Unanimously