HomeMy WebLinkAboutMinutes - 05/10/2019 - Police Pension Board 0-1
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McHe
Police Pension Board of Trustees
May 10,2019,2:30 PM
Special Meeting Minutes
Call to Order
A special meeting of the City of McHenry Police Pension Board of Trustees was called to order at 10:56
a.m. in the Police classroom at 333 S.Green Street,McHenry, IL.
Roll call:
President Jeffery Foerster, Nick Clesen, Ann Buss, Cheryl Kranz, Marc Fisher. Others present: recording
secretary Monte Johnson.
Public Input:
None.
Discussion and Possible Action as to Investment Activity and the Transfer of Cash for Further
Investment:
Mr.Schmidt from LPL Financial was not present but was reported to have recommended the investment
of the$500,000 in cash. There was a discussion of the difference between A Shares and C Shares. It
was also discussed if the money should be invested in the 1-5 year range or longer. There was a
discussion about the costs or fees involved for the investment,and Ms. Kranz stated that there would be
an upfront fee for the investment.With no further discussion, a motion was made by Sergeant Clesen
and seconded by Ms. Kranz to invest the funds as recommended by Mr.Schmidt. Vote: 5-ayes by
unanimous voice vote. 0-nays,0-abstained. Motion carried.
Motion to adjourn
There being no further business to discuss, a motion was made by Sergeant Clesen and seconded by
Officer Fisher to adjourn from the public meeting at 2:50 pm.Vote:2-ayes by unanimous voice vote. 0-
nays,0-abstained. Motion carried.
Respectfully submitted,
7n" a.
,eo.,
Monte Johnson