CIVILIAN AND POLICE PENSION BOARDS

The Civilian and Police Pension Boards met on June 21, 2006 at 9:40 a.m. with Chairman Ruane presiding. Members present were Mrs. Mitchell, Mrs. Braun, Ret. Lt. Knotts, Ret. Lt. Mullaney, Mr. Lucas, and Ret. Capt. Gray. Members absent were Mr. DePrima, Mr. Hogan, Chief Horvath, and Mrs. Rigby.

AGENDA ADDITIONS/DELETIONS

Mr. Lucas moved for approval of the agenda, seconded by Ret. Lt. Knotts and unanimously carried.

Contract Renewal - Michael Shone of Pierce Park Group

Mrs. Mitchell advised members that the terms of the original contract was for three (3) one (1) year periods commencing on October 1, 2003 and shall be renewed annually, unless written notice is provided by either party at least sixty (60) days prior to the next subsequent one year contract. She also noted that the annual fee for extending this contract is $38,000 per year.

Members expressed their satisfaction with the performance of the Pierce Park Group.

Ret. Lt. Mullaney moved to extend the original contract for three (3) one (1) year periods to be renewed annually, seconded by Ret. Lt. Knotts and unanimously carried.

Ret. Lt. Mullaney moved for adjournment, seconded by Mr. Lucas and unanimously carried.

Meeting Adjourned at 9:49 A.M.

Respectfully submitted,

Timothy Mullaney                                                                  Eugene B. Ruane

Chairman - Police Pension Board                                          Chairman - Civilian Pension Board

JCR/

S:ClerksOfficeAgendas&MinutesMisc-MinutesPENSION2006