NJ Cops Feb2019 | Page 36

SYSTEM CONTINUED FROM PAGE 35 ecutive director, chief investment officer and board secretary. Standardization has been achieved so that on July 3, it will be all systems go to work on solidifying the financial stability of the pension fund. “A lot of shopkeeping items have been taken care of so we can move forward,” Kompany said. “It’s going to be a learning curve 36 NEW JERSEY COPS ■ FEBRUARY 2019 for everybody involved. I want members to be patient, to just understand that everyone’s best interest is in mind. The bottom line is we’re doing this for the betterment of the system.” Because half of the first meeting was conducted in closed ses- sion, the attending public did not get a great feel for what was accomplished. Polkowitz, however, provided a report. “We’ve learned that we were fairly organized today,” he de- tailed. “I think it was a feeling-out period, but we accomplished good business today – what we had to do. We passed resolutions on a temporary basis, which was a prudent measure so we can make adjustments in the future.” The bulk of our workload will be putting the right people in place, and the new board is committed to due diligence during the next few months to do so. These are decisions that will have substantive influence over the next several years of the pension system. As Colligan asserts, the board is fast at work on creating a pension system that can make market corrections to maximize investment opportunity and achieve full funding. Anybody who has put even a momentary eye on the markets knows that these market corrections could soon be coming fast and furious. If the new pension board is doing its job, however, PFRS members should see none of that behind the scenes. They will be focused and excited about the most important outcome. “Pension checks will be coming through and pension hear- ings will be heard correctly,” Heck assured. “We have extensive training on our side to ensure not only an easy transition, but to raise that system to the next level. We’re strengthening it from within to ensure flexibility down the road. And we’re making sure that we’re constantly fluid in looking for certain key factors to solidify it and grow it from there.”