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Elk Grove Village Police Pension Board <br />July 7th, 2014 Meeting Minutes <br />901 Wellington Ave, Elk Grove Village IL <br /> <br /> <br />1 <br /> <br />The regular meeting was called to order at 3:25 PM by President Ambrose. Present were Trustee <br />Ambrose, Trustee Torres, Trustee Moody, Trustee Parrin, Trustee Gottwald, Christine Tromp from the <br />Elk Grove Village Finance Department, and Doug Oest from Marquette Associates. No members of the <br />public were in the audience. A quorum was present. Minutes for the disability hearing which was <br />previously held at 1:00 PM were taken by court reporter. <br /> <br /> The minutes of the last meeting, April 8th, 2014, were read. A motion to approve the minutes of the last <br />meeting was made by Trustee Moody, Second by Trustee Torres. Aye to approve: Unanimous. Motion <br />carried. <br /> <br />The financial advisor from Marquette Associates provided the financial report. The Board’s investments <br />and performance were discussed (up 3% for quarter, 4.5% for YTD), as well as an update on the <br />economy. Policy updates will be presented at the next meeting. No action items were needed with <br />respect to investments <br /> <br />The next meeting date was scheduled for October 14th, 2014 at 3:30PM at 901 Wellington Ave, Elk <br />Grove Village, IL. <br /> <br />The treasurer’s report was presented by Christine Tromp. The Village has budgeted $1.6 million in <br />expected revenue for the police pension portion of the electric tax for the new fiscal year. A motion to <br />approve the treasurer’s report was made by Trustee Parrin, second by Trustee Gottwald. Aye to approve: <br />Unanimous. Motion carried. <br /> <br />Former Officer G. Jones submitted a request for a refund of contributions in the amount of $10,614.68 to <br />be directly transferred to a designated qualified retirement plan. A motion to approve the refund was <br />made by Trustee Parrin, Second by Trustee Gottwald. Aye to approve: Unanimous. Motion carried. <br /> <br />With regard to the status of Ret. Commander Briggs with the Illinois Department of Insurance and IRS, <br />no further action will be taken following the resignation Ret. Commander Briggs from his civilian <br />position effective 5/14/2014. <br /> <br />Police Pension Board elections were held. Inv. Christopher Torres and Inv. Jason Gottwald were elected <br />to the position of trustee for two year terms. Board officer position selections were deferred until next <br />meeting. <br /> <br />The Board has been in contact with the Illinois Secretary of State to file an Application for Authority to <br />Dispose of Local Records. The Board will be working to file the required paperwork. <br /> <br />The following bills from Reimer & Karlson were presented: <br /> <br />A bill from Reimer & Karlson dated 4/21/2014 in the amount of $760.07 was received for legal <br />services rendered. <br /> <br />A bill from Reimer & Karlson dated 5/21/2014 in the amount of $375.09 was received for legal <br />services rendered. <br /> <br />A bill from Reimer & Karlson dated 6/21/2014 in the amount of $389.47 was received for legal <br />services rendered. <br />The following bill from the State of Illinois was presented: