HomeMy WebLinkAboutFIRE PENSION - 02/02/1987 - Fire Pension / /V() A9G-X7-/1/6
MINUTES OF BOARD MEETING
{
p'{.ti af4, ELK GROVE_Fi'_ a-ION. .FUND
�
2 FEBRUARY 1987 `
A meeting of the Firemen's Pension Fund was held on Monday, February 2, 1987 in
the basement of the Headquarters Fire Station, 101 Biesterfield Road. The meeting
was called to order by President Walter J. Kriesant at 7:04 P.M.
ROLL CALL
On Roll Call the following members were present: Walter J. Kriesant, George C. Coney,
Patricia Smith, Douglas C. Goostree, Harvey R. Speiden, and Joseph Gardner III.
MINUTES
Motion by P. Smith, seconded by H. Speiden to accept the 6 August 1986 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 29 January 1987. Also attached was a Disbursement Register
covering the period from 1 May 1986 to 29 January 1987. Plotion by D. Goostree,
seconded by H. Speiden 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.
NEW BUSINESS
The Secretary was directed to contact Jerry Norris and inform him to have his
Doctor send the Pension Board a Report of Jerry's present physical condition.,.
President W. Kriesant Was directed to contact the Ill. Dect. of Insurance for
their opinion of where-we should require the yearly exam for disabled pensioned
members living out of state.
The Treasurer reported House Bill #2630 was passed and signed by the Governor on
23 January 1987. This Bill amended Section 4-109.1 INCREASE IN PENSION. Members
retiring after 1 January 1987 will receive the 3% increase each year at age 55
instead of age 60. Members contribution will increase by .5% to a total of 8.25%
of earnings. There was some discussion about the Amendment.' It was agreed among
all board members the 3% increase would begin after a menber had 1 year on pension.
These increases would not apply to the widows pension of 40%.
Roger Geske of Birger Nyborq & Company, Ltd. was present and presented each board
member with a. notebook. He submitted and reviewed a Report on Investments from
Sept. 1, 1986 to Dec. 31, 1986. Motion by'H. Speiden, seconded by D. Goostree to
accept the report and keep a copy on file. Motion passed unanimously. President
W. Kriesant thanked Mr. Geske for his report.
The Secretary was directed to contact the retired members and ascertain if any
were interested in running for the retired members position on the Board. Both
D. Goostree and H. Speiden are up for election 20 April 1987, both members voiced
their interest in running for re-election.
ADJOURNMENT
Motion by D. Goostree, seconded by H. Speiden to adjourn. Motion passed unanimously.
ctfl s ted,
Meeting adjourned at 7:55 P.M. 7Qs:ep'-h�OLardner
�— � ,III` Secretary
Firemen's Pension Fund