Wilmette's police and fire department pension boards recently held a joint meeting.
Pension membership and financial updates were on the agenda for Thursday's joint meeting of the Wilmette Police Pension Board of Trustees and the Firefighters' Pension Board of Trustees.
The boards reviewed the pension membership changes. Included were the approvals of new pension members and new pensioners and approval of the annual pension increase. The board was also updated on deaths and refunds of member contributions.
A presentation of bank account activity and approval of disbursements was also on the agenda, and the boards heard updates on cash flows.
Graystone Consulting gave a presentation on the 2015 fourth-quarter investment results. The board discussed a potential management fee reduction. Also under discussion were strategies to fund the cash flow needs, asset allocation and a possible portfolio rebalance. Furthermore, the Harbor International Fund was reviewed.
The boards also reviewed the joint board meeting schedule for the year. Conferences, seminars and trainings were each discussed.