HomeMy WebLinkAboutFIRE PENSION - 08/09/1999 - MINUTES OF BOARD MEETING
ELK GROVE FIREMEN'S PENSION FUND
AUGUST 9, 1999
CALL TO ORDER
A meeting of the Fireman's pension fund was held on August 9, 1999 in the downstairs meeting
room of station 7, 101 Biesterfield Road. The meeting was called to order by President Richard
Dugan at 7:05 p.m.
ROLL CALL
On roll call the following members were present: Richard Dugan,Hilda Ingebrigtsen, Mark
Percudani, Brian McVeigh, and Ann Welsh. In addition members Bob Falk, Pete Gutzmer,
Frank Wilhelm, Attorney Rich Puchlski, and Mary Tomanek of Solomon Smith Barney.
Absent were,Jerry Norris,James MacArthur, Craig Johnson, and George Knickerbocker.
MINUTES
A motion was made by Ann Walsh to accept the minutes of May 3, 1999. Brian McVeigh
seconded the motion. The motion passed unanimously.
A motion was made by Brian McVeigh to accept the minutes the special meeting held
June 14, 1999. The motion was seconded by Mark Percudani. The motion passed unanimously.
TREASURER'S REPORT
Treasure Hilda Ingebrigtsen submitted a balance sheet, disbursement register, and open
investment listings. Hilda reviewed and explained the contents of these reports to the members.
Hilda also stated the initial transfer of money to Solomon Smith Barney took place in July 1999.
A motion was made by Mark Percudani to accept the treasurer's report. Brian McVeigh
seconded the motion. The motion passed unanimously.
REPORT OF INVESTMENTS
Mary Tomanek handed out a quarterly review/report of the Elk Grove Village fire pension fund
investments with Solomon Smith Barney. She reviewed and explained its content to the
members. She also presented to the Board an updated and signed copy of the"statement of
investment policy objectives and guidelines."
A discussion took place on changing the quarterly contributions to monthly contributions. After
the discussion it was decided by the board that monthly contributions would be more beneficial
to the fund. This will be effective immediately.
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OLD BUSINESS
None
NEW BUSINESS
Some discussion took place on the new pension laws. It could not be determined at this time if
the Bill was signed into law. The pension board members and its attorney would look into this
matter.
Flowers were sent to Pat Smith for her seventeen years of service on the Fire pension board. A
Thank you card was received from her.
ADJOURNMENT
Motion was made by Brian McVeigh to adjourn. It was seconded by Mark Percudani. Motion
passed unanimously. Meeting was adjourned at 8:00 p.m.
The next meeting will be on Monday,November 8, 1999 at 7:00 P.M.
Respectly submitted by:
Mark W. Percudani,Sr. Secretary
Firefighter's Pension Fund
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