HomeMy WebLinkAboutCOMM - Meeting Minutes - 226 SP - 10-23-2008 - RETIREMENTSold Qv IMR Limited Form 825 EO"1022C4
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Washington, PA October 23, 2008
The special meeting of the Washington County Retirement Board was held at
I approximately 1:30 p.m. on Thursday, October 23, 2008 in Room 704, Courthouse Squ
with the following members being present: Commissioners Larry Maggi and J. Bracken
Burns, Sr.: Treasurer Francis King; and Controller Michael Namie. Also present: Director
s
Administration Scott Fergus; and Lee Martin representing Peirce Park.
The purpose of this special meeting was to hear presentations for and to vote on a Real
Estate Investment Trust manager.
Presentations were given by the following:
DWS — Mr. Sean Clarke; Mr. Jerry Ehlinger.
The Vanguard Group — Mr. William J. LaBarge; Mr. David Wilson, via conference
Urdang Securities — Mr. Timothy Jannetta; Mr. Eric Rothman.
All presentation materials are available in the Office of the Controller for inspection.
A motion was made by Mr. Burns and seconded by Mr. Maggi to hire DWS as the
County's
I Real Estate Investment Trust manager.
A brief discussion followed. Those in favor signified by saying aye.
Motion carried unanimously.
I Other business was conducted as follows:
A motion was made by Mr. Burns and seconded by Mr. Maggi to rebalance the
j portfolio to the target asset allocation policy.
No discussion followed. Those in favor signified by saying aye.
Motion carried unanimously.
A motion was made by Mr. Namie and seconded by Mr. King to terminate B
and transfer assets to Vanguard Fixed Income Index Fund.
No discussion followed. Those in favor signified by saying aye.
Motion carried unanimously.
A motion was made by Mr. King and seconded by Mr. Namie to interview the foil
Fixed Income Managers:
Emerald Advisors
Segall, Bryant, & Hamill
PNC Capital
ing
Federated Investors
required to participate in the interview process.
No discussion followed. Those in favor signified by saying aye.
Motion carried unanimously.
A motion was made by Mr. Namie and seconded by Mr. Burns to form a
committee to interview three securities litigation firms and report their
recommendations to the Retirement Board. This committee shall consist of Mr.
Namie, Mr. King, Mr. Scott Fergus, and Mr. Roger Metcalfe.
No discussion followed. Those in favor signified by saying aye. x
j Motion carried unanimously.
The meeting was adjourned at 3:40 p.m.
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THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2008
ATTEST:
11
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