2010-01-28-RB-min - Laserfiche WebLink

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There was a general discussion of adding more real estate to the portfolio. Alan mentioned the debt side is the best place to look for real estate. Debt funds are earning 15 %. The move would have to be conservative due to the illiquidity of the funds. The portfolio target allocation for real estate is 5 %. Bob Cunha voiced his appreciation to Meketa and to Alan and Mike for a successful year. The Board is in receipt of the information forwarded by Atty. Sacco regarding Anthony Previte. The Board requested that Mike Sacco attend the February meeting. Anthony Previte will also be notified of the meeting and invited to attend. The Town will transfer approximately $480,000 for the Vanguard OPEB Funds in late April or early May. The decision of transferring some of the Vanguard funds from the money market to another fund is on hold until the next meeting. The buyback request from Linda Vine was unanimously approved. It was noted that an employee is working more than 18 hours per week but was informed by her supervisor that she would not be allowed to join the retirement system. This will be discussed with her supervisor and also HR. Laura Creedon bad sent $10 along with her last summons. The money is being held in the retirement office. The Board determined they are uncomfortable with accepting the funds and will ask Mike Sacco to return it to her. Administrative review put on hold again. Hartford will be asked to attend the February meeting. A motion was made, seconded and approved unanimously to adjourn the meeting at 10:05 AM. The next meeting will be held February 25, 2010 in the Selectmen's Meeting Room. Robert W. Cunha, Chairman Michael McNabb, Appointed Member Robert Addelson, Ex Officio Member Joseph Foley, Elected Member Alan Fields, Appointed Member