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Minutes of the December 20, 2011 Elk Grove Village Police Pension Board meeting. <br /> Vice President Krzywicki called the meeting to order at 3:35 p.m. Present were Greenberg, Parrin, <br /> Tromp, and Mary Tomanek. Absent were Ambrose and Torres. <br /> The minutes of the last regular meeting, September 27, 2011 and the special meeting, November 15, <br /> 2011 were read. A motion to approve the minutes was made by Parrin, seconded by Greenberg. <br /> Unanimous. <br /> Tromp presented the Treasurer's Report, which included balance sheet dated November 30, 2011 and <br /> disbursement register. A motion to approve the Treasurer's Report was made by Parrin, seconded by <br /> Greenberg. Unanimous. <br /> Old Business <br /> Tomanek presented an updated report on the status of the Fund's investments. Establishing a second <br /> custodian for the Fund's assets was discussed, but the Board will take no action on the matter until the <br /> full Board is present. The length of contracts for investment advisors to be in compliance with PA 95- <br /> 950 was discussed, but the Board will take no action on the matter until the full Board is present. <br /> New Business <br /> The Board received a letter of retirement and request for benefits from Officer Daniel Meyers. The <br /> Finance Department provided the distribution information as follows: <br /> Date of birth: October 24, 1952 <br /> Date of hire: January 02, 1981 <br /> Date of retirement: November 11, 2011 <br /> Date of pension: November 12, 2011 <br /> Creditable service: 30 years, 10 months, 10 days <br /> Original rate of pension: 75% <br /> Salary: $82,754.00 <br /> Original pension amount: $62,065.50 <br /> Original monthly benefit: $5,172.13 <br /> First month prorated amount: $3, 275.88` <br /> Eligible for increase: December 01, 2012 <br /> A motion was made by Krzywicki, seconded by Parrin, to approve this distribution. Unanimous. <br /> (Continued) <br />