9 February 2015
Moon Township Board of Supervisors and its boards · 14 subject tags
The Board of Supervisors held a special meeting on February 9, 2015, but lacked a quorum, with only two supervisors present. Despite the absence of a quorum, the board proceeded with a single agenda item: a presentation by a representative of PNC on the annual police pension review. The representative provided copies of his review and reported that the prior year was strong for both the markets and the police pension portfolio. He detailed the portfolio’s annual performance and returns, discussed the performance of domestic versus international stocks, bonds, and funds, and emphasized the importance of diversification. He noted that public pensions outperformed corporate pensions in the previous year. The funding status of the pension stood at 88% as of the last evaluation in January 2013, with the next evaluation scheduled for January 2015. The representative reviewed the history of funding evaluations and ratios, discussed portfolio allocations, and offered an economic outlook. He then answered questions from the board members and representatives of the Police Bargaining Unit. No ordinances, resolutions, zoning decisions, bids, contracts, budgets, or other business were conducted due to the lack of a quorum. The meeting was adjourned at 7:41 p.m.The Board of Supervisors held a special meeting on February 9, 2015, but lacked a quorum, with only two supervisors present. Despite the absence of a quorum, the board proceeded with a single agenda item: a presentation by a representative of PNC on the annual police pension review. The representative provided copies of his review and reported that the prior year was strong for both the markets and the police pension portfolio. He detailed the portfolio’s annual performance and returns, discussed the performance of domestic versus international stocks, bonds, and funds, and emphasized the importance of diversification. He noted that public pensions outperformed corporate pensions in the previous year. The funding status of the pension stood at 88% as of the last evaluation in January 2013, with the next evaluation scheduled for January 2015. The representative reviewed the history of funding evaluations and ratios, discussed portfolio allocations, and offered an economic outlook. He then answered questions from the board members and representatives of the Police Bargaining Unit. No ordinances, resolutions, zoning decisions, bids, contracts, budgets, or other business were conducted due to the lack of a quorum. The meeting was adjourned at 7:41 p.m.
Summarised by AI from the linked minutes, with some details withheld for privacy. The document is the record — check anything that matters against it.