HomeMy WebLinkAboutFIRE PENSION - 05/04/1987 - Fire Pension "°� • ,�. „ MINUTES OF BOARD MEETING
ELK GROVE FIREMEN'S PENSION FUND
4 MAY 1987
A meeting of the Firemen's Pension Fund was held on Monday, May 4, 1987 in
the basement of the Headquarters Fire Station, 101 Biesterfield Road. The
meeting was called to order by President Walter J. Kriesant at 7:08 P.M.
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ROLL CALL
On Roll Call the following members were present: Walter J. Kriesant, George
C. Coney, Patricia Smith, Charles B. Henrici, Harvey R. Speiden, and Joseph
Gardner III. In attendence was Jerry L. Norris and Mr. Roger Geske and
assistant of Birger Nyborg & Co. Ltd. President W. J. Kriesant welcomed
Jerry L. Norris the new retired member of the Pension Board.
MINUTES
Motion by G. Coney, seconded by H. Speiden to accept the 2 February 1987
Minutes as written and dispence with their reading. Motion passed unanimously.
TREASURER'S REPORT
Treasurer G. Coney submitted a Balance Sheet and Schedule of Investments of
the Pension Fund as of April 30, 1987. Also attached was a Disbursement
Register covering the period from 1 May 1986 to 30 Apr 1987. Treasurer G. Coney
reviewed the Balance Sheet with the Board members and explained it's contents.
Motion by G. Coney, seconded by H. Speiden to set up a Standard Trust with
Northern Trust Co. to act as a depository on Account # 460168. This is a "NOW"
account earning interest from day of deposit. Motion passed unanimously. Motion
by C. Henrici, seconded by P. Smith to accept the Treasurer's Report and place
the Balance Sheet, Schedule of Investments, and Disbursement Register on, file
with the Pension Board Minutes. Motion passed unanimously.
REVIEW OF INVESTMENT ACTIVITY
Mr. Roger Geske and assistant reported on Birger Nyborg & Co. Ltd. investments
of the Board. A preliminary Balance Sheet was distributed to board members.
Mr. Geske reported the market since President Reagans trade restrictions of
late April has" been very volatile.After a review of the Balance Sheet with
- - board members G. Coney-asked -some -questions .about..._the future_:dire ction.._of_:_the
firms investments. J. Gardner 111 questioned why all reports continue being
only preliminary reports of past activity. Mr. Geske promised to have a final
report in the hands of each board member before the end of the month. President
W. Kriesant thanked Mr. Geske for his report.
PRESENTATION & APPROVAL OF DISBURSEMENTS
Secretary J. Gardner III reported he had received from J.L.Norris a Doctors
Report .on his condition and a preliminary Bill from a docter who had examined
D. McCulla. Motion-by-C.- Henrici, seconded by'J:- Gardner III to authorize the -"--
�0•; payment of the two Doctors fees upon the receipt of the doctors report on
D. McCulla and the fee from J.L. Norris doctor. Motion passed unanimously.
` r NEW BUSINESS
President W. Kriesant read a letter from D. Goostree stating his regret of
being anable to attend the Board meeting and his enjoyment of being apart
of the Pension Board.
Motion by H. Speiden, seconded by C. Henrici to nominate:
Walter J. Kriesant President
Joseph Gardner III Secretary
Motion by J. Gardner III, seconded by W. Kriesant to nominate:
Harvey R. Speiden . Vice-President
Both motions passed unanimously. The Secretary was instructed to cast one
-unanimous ballot for the above offices. Therefore above officers are declared _
elected. After a suggestion by H. Speiden. A discussion followed about using a
tape recorder to make recording the minutes easier for the secretary. J. Gardner
III volunteered to bring his portable tape recorder. to the next meeting to try
it out. A discussion followed about having absentee ballots in the next election.
Most members voiced their opinions. No motions were made or seconded. Elections
will be as they have been in the past
Canvas of Ballots from 20 April 1987 election was taken.
65 Ballots Cast
45 Harvey Speiden
9 Doug Goostree
6 Bob Herrmann
3 Ted Popielewski
1 Karen Bensen
0 Tom Pomey
1 Spoiled
.w Motion by C. Henrici, seconded by G. Coney to certify the 20 April 1987 election
Harvey Speiden the winner. Term of office 3 years expiring April 1990. J..L-:lNorris
to serve as retired member. Motion passed unanimously.
J. Norris asked where the board had decided to require the disabled retirees to
have their annual physicals. After some discussion President Kriesant reported
he had discussed it with D. Andersen of the Ill. Dept. of Insurance and it was
his opinion the Board had the authority to make up the rules it felt necessary.
Consensus of opinion among board members was to play it as each situation arose.
ADJOURNMENT
Motion by J.L. Norris, seconded by C. Henrici to adjourn. Motion passed unani-
mously. Meeting adjourned at 8:20 P.M.
Respectfully submi ted,
Joseph Gardner III, Secretary
Firemen's Pension Fund