HomeMy WebLinkAboutFIRE PENSION - 08/07/2000 - MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
August 7,2000
Page Iof2
CALL TO ORDER
A meeting of the Firefighter's pension fund was held on August 7, 2000 in the Fire Department
Administration Office 901 Brantwood Avenue. 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, Jerry Norris, Hilda
Ingebrigtsen, Mark Percudani, Brian McVeigh, and Ann Welsh. In addition Rick Puchlski,
Attorney at Law, Pension Fund Legal Counsel was in attendance. Absent were, Craig
Johnson, George Knickerbocker, and James D. MacArthur.
MINUTES
A motion was made by Jerry Norris to accept the minutes of the February 7,2000 meeting.
Hilda Ingebrigtsen seconded the motion. The motion passed unanimously.
A motion was made by Brian McVeigh to accept the minutes of the May 1, 2000 meeting.
Jerry Norris seconded the motion. The motion passed unanimously.
REPORT OF INVESTMENTS
Hilda Ingebrigtsen handed out a quarterly review/report of Elk Grove Village fire pension fund
investments with Solomon Smith Barney. She reviewed and explained its content to the
members.
The Babson fund was dropped from our portfolio and replaced by secondary fund picked by the
board. This was due to the Babson fund not fitting the criteria created by the Pension Board in
the"statement of investments policy objectives and guidelines."
TREASURER'S REPORT
A motion was made by Brian McVeigh to accept the Treasurer's Report. Mark Percudani
seconded the motion. The motion passed unanimously.
Page 2 of 2
OLD BUSINESS
An election was held the third week of April for Trustee to the Fire Pension Fund. The ballots
were counted and the winner was Brian McVeigh.
NEW BUSINESS
President Richard Dugan presented to the Board three new applications for a retirement pension,
Thomas E. Casterton, Thomas K. Morony, and Gregory T. Riddle. Creditable service time was
verified though the Fire Chief s office, along with the Finance Department. A motion was made
by Jerry Norris to accept the applications and grant retirement pensions to Thomas E. Casterton,
Thomas K. Morony, and Gregory T. Riddle. The motion was seconded by Brian McVeigh. The
motion passed unanimously.
A discussion of Fire Pension Board officers took place. A motion was made by Jerry Norris to
elect the current officers through acclamation. The motion was seconded by Brian McVeigh.
The motion was passed unanimously.
Discussion took place on the proper procedure for the Pension Fund to be notified of potential
retirees. In the future the Village is to notify the Pension Board and give to it all of the
notifications and information regarding application to the fund. This is to take place at least two
business days prior to the applicant's retirement date.
ADJOURNMENT
Motion was made by Mark Percudani to adjourn. It was seconded by Jerry Norris. Motion
passed unanimously. Meeting was adjourned at 7:40 p.m.
The next meeting will be Monday,November 6, 2000 at 7:00 P.M. at the Fire Administration
Building
Respectfully submitted by:
Mark W. Percudani, Sr. Secretary
Firefighter's Pension Fund