HomeMy WebLinkAboutFIRE PENSION - 11/05/2001 - MINUTES OF BOARD MEETING y
ELK GROVE FIREFIGHTER'S PENSION FUND n1w 'v
November 5,2001
CALL TO ORDER 9 "
A meeting of the Firefighter's pension fund was held on November 5,2001 in the Fire Department
Administration Office 901 Brantwood Avenue. The meeting was called to order by President Brian
McVeigh at.7:05 p.m.
ROLL CALL
On roll call the following members were present: Brian McVeigh,Hilda Ingebrigtsen,Mark Percudani,
James MacArthur, &Nathan Gac. Absent were: Craig Johnson,Jerry Norris,Ann Walsh,and George
Knickerbocker. In addition also in attendance were Rich Puchlski attorney at law pension fund legal
council and Mary Tomanek of Solomon Smith& Barney.
MINUTES
A motion was made by James MacArthur to accept the minutes of the August 13,2001 meeting. Nathan
Gac seconded the motion. The motion passed unanimously.
REPORT OF INVESTMENTS
Mary Tomanek submitted a quarterly review/report of the Elk Grove Village Fire Pension Fund
investments with Solomon Smith Barney. She reviewed and explained its contents to its members.
A new Management Team was put in place with the Guardian portfolio. This could possibly change the
make-up of this portfolio. Solomon Smith Barney will keep an eye on this portfolio watching out for any
drastic changes in strategies. If this new management team starts to drive this portfolio into a different
direction other than what was initially approved by this board,a change might be necessary.
A motion was made by Mark Percudani to continue to fund the 2 - 10 year segment with fixed income
assets as they mature. The motion was seconded by Brian McVeigh. The motion passed unanimously.
TREASURER'S REPORT
Treasurer Hilda Ingebrigtsen submitted a balance sheet and disbursement register. Hilda reviewed and
explained the contents of the balance sheet to the members.
A motion was made by Mark Percudani to accept the Treasurer's report. James MacArthur seconded the
motion. The motion passed unanimously.
OLD BUSINESS
Secretary Mark Percudani mentioned additional information was needed for the files of retirees, William
Clark,Leo Boulanger,Thaddeus Popielewski, Robert Falk,along with some information need in F/F
Kevin Cottes file. Hilda Ingebrigtsen and Chief MacArthur will work with Mark Percudani in providing
this information.
NEW BUSINESS
An audit was completed of the EGVFD pension fund files by the Department of Insurance. Resulting with
the state finding some errors in the pension amounts of Retirees Leo Boulanger, Edwin Colman,Bernard
Goss, Leonard Kopinski, Michael Lackman,Ms. Meyer,Thomas Morony, Kenneth Rzeszutko,James
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Sunagel,Larry Ryan,Randy Scott,and Ronald Temberg. Adjustments were discussed and will be made.
The changes will take effect on the November 2001 pension check.
Other findings that were also discussed and are being addressed at this time are as follows:
1 meeting was missed in 2000
Ex-officio officers do not routinely attend meetings
Temporary appointments not pensionible (I.E.acting pay)this was corrected in 2000
Coupon treasury receipts are in portfolio and should be disposed of when appropriate
Some membership files need additional documentation
Expand minutes of meeting
A copy of the order the from the hearing to grant Diane Elliot 100%pension is to be forwarded to the
DOI.
Accounting has to review and confirm member equity records up to date.
James MacArthur made the motion to verify DOI findings and make calculation corrections as needed.
The motion was seconded by Nathan Gac. Motion passed unanimously.
President Brian McVeigh presented to the Board an application for regular retirement pension by Michael
Lackman. Creditable service time was verified through the Fire Chiefs office along with the finance
department. A motion was made by Brian McVeigh to accept the application and grant a regular
retirement pension to Michael Lackman. The motion was seconded by Nathan Gac. The motion passed
unanimously.
President Brian McVeigh stated that he is in receipt of Pension applications and all supporting documents
of James H. Schlesser Il, David W. Rill and Daniel L. Baus. A motion was made by Mark Percudani to
accept James H. Schlesser II into the Elk Grove Village Fire Pension fund as of May 29, 2001 and David
W. Rill and Daniel L. Baus as of September 10,2001. The motion was seconded by Brain McVeigh. The
motion passed unanimously.
The Pension Board is still awaiting documents from Daniel M. Ryan.
ADJOURNMENT
Brian McVeigh made a motion to adjourn the meeting. Nathan Gac seconded the motion. The motion
passed unanimously. The meeting was adjourned at 8:25 p.m.
The next meeting will be Monday, February 4,2001,at 7:00 PM,at the Fire Administration Building.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund
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