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regulations and some due to the size of the investment. The Meketa report included information <br />for each of those who responded. Mcketa will narrow it to two finalists for discussion at the <br />April meeting and interviews will be held in May. <br />John Bartenstein, a member of the appropriation committee and Andrei Radulescu -Banu, <br />attended the meeting. After the Board's investment discussion which included a discussion of <br />fees and the use of mutual and commingled funds, they seemed satisfied that the questions had <br />been answered effectively. In response to a question John Bartenstein had regarding a Globe <br />article "Mass. State pension fund strong in 2012 ", Meketa ran a LRS comparison report that <br />showed LRS outperformed the State in 2010 and 2012. The Board reviewed PERAC's 2009 <br />Retirement Board Professional Services Report. Henry noted LRS fees are average compared to <br />peer groups. The system's investments with Fidelity, Hartford, FMI, Matthews, PIMCO All <br />Asset and PIMCO Global Multli -Asset are mutual funds which are lower in fees. Mutual funds <br />are utilized because these managers do not offer commingled funds. The Board determined that <br />the quarterly Meketa reports are sufficient to download to the Town's website. <br />Rob mentioned that the Town has agreed to pay half of the $8,378 charge from Buck Consultants <br />for the "computation of valuation results under alternative funding assumptions..." An invoice <br />will be created. <br />Acadian will be invited to attend the April 25t" Board meeting. <br />The Board members were given PERAC memo 48 regarding On -Line Training for Educational <br />Credit and the PERAC Pension Newsflash regarding Open Meeting Law Regional Workshops. <br />There are four regional workshops upcoming set up by the Atty. General. <br />The 2012 Annual Report was reviewed and signed. <br />An effort will be made to post the minutes on the Town of Lexington website. <br />Karen's review will be done in April. <br />A motion was made, seconded and approved unanhnously to adjourn the meeting at 10:45. <br />The next meeting will be held April 25, 2013, 8:00 AM at Cary Memorial Library. <br />Robert W. Cunha, Chairman <br />Michael McNabb, Appointed Member <br />Robert Addelson, Ex Officio Member Joseph Foley, Elected Member <br />Alan Fields, Appointed Member <br />