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HomeMy WebLinkAboutFIRE PENSION - 05/06/2002 - MINUTES OF BOARD MEETING �q\ ELK GROVE FIREFIGHTER'S PENSION FUND May 6, 2002 1 CALL TO ORDER A meeting of the Firefighters pension fund was held on May 6, 2002 in the Fire Department Administration Office 901 Brantwood Avenue. The meeting was called to order by President Brian McVeigh at 7:00 p.m. ROLL CALL On roll call the following members were present: Brian McVeigh, Hilda Ingebrigtsen, Mark Percudani, James MacArthur, Ann Walsh, and Nathan Gac. Absent were: Craig Johnson, George Knickerbocker and Jerry Norris. Also in attendance were Bob Zelek attorney at law pension fund legal council and Mary Tomanek of Solomon Smith& Barney. MINUTES A motion was made by Nathan Gac to accept the minutes of the February 4, 2002 meeting. Hilda Ingebrigtsen 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. Mary Tomanek recommended and Nathan Gac made the motion to close the fire pension fund account with Lincoln/National Insurance Company who was charging a fee for investing in American Mutual Fund Company. The fire pension fund would invest directly in the American Mutual Fund cutting out the Lincoln/National insurance company and the fees associated with them. Mark Percudani seconded the motion. The motion passed unanimously. Nathan Gac made the motion to stop the dollar cost averaging until our next meeting at witch time we can decide what we would do with this money based on different options presented to the board at that time. Hilda Ingebrigtsen seconded the motion. The motion passed unanimously. TREASURERS 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 Treasurers report. Nathan Gac seconded the motion. The motion passed unanimously. OLD BUSINESS None NEW BUSINESS The Pension Board is in receipt of pension applications and all supporting documentation for the four new firefighters recently hired by the fire department. A motion was made to accept James A. Denna Jr., Robert A. Deena, Scott W. Korona and Jason M. Santeler into the Fund by Nathan Gac. Mark Percudani seconded the motion. The motion passed unanimously. James A. Schlesser II has applied for a refund. Mark Percudani stated that all of the paper work was in order and that a motion was required to grant the refund. Brian McVeigh made the motion to grant the refund. Nathan Gac seconded the motion. The motion passed unanimously. James A. Schlesser will receive a refund in the amount of$2296.88 this amount is the total payroll contributions Jay has paid into the fund. A motion was made by Brian McVeigh to certify the elections for both the active member and the retired member of the board. This election took place in April of 2002. Nathan Gac seconded the motion. The motion passed unanimously. Mark Percudani will serve a three-year term as the active member on the board and Bernard Goss will serve a three-year term as the retired member of the board. Election of officers was held for next year. Brian McVeigh was elected President. Nathan Gac was elected Vice-President and Mark Percudani was elected Secretary. The board would like to thank Jerry Norris for his many years of service and hard work he has provided to the Firefighters Pension board and its members. President Brian McVeigh asked Nathan Gac to look into the possibilities of purchasing a plaque from the board and the members of the fund showing our appreciation for the dedication that he has given in the past many years. President Brian McVeigh presented an application for regular retirement pension from Craig Rennack to the board. Creditable service time was verified through the Fire Chiefs' office, along with the Finance Department. All other paper work was in order. A motion was made by Hilda Ingebrigtsen to accept the application and grant a regular retirement pension to Craig Rennack. The motion was seconded by Brian McVeigh the motion passed unanimously. Chief James MacArthur stated that he was in contact with both Ralph Blumenthal and the pension boards legal counsel Rick Puchalski regarding the application for Occupational Disease Disability pension and the hearing that the pension board must have by law to proceed with this application. Rick Puchalski recommended that Ralph Blumenthal should apply for regular retirement pension at this time, without prejudice or forfeiture of his right to apply for Occupational Disease Disability pension. Bob Zelek pension fund legal counsel present at this meeting, agreed with this and would be in contact with Ralph as far as what procedures need to be followed so that the board could start to move forward with the Occupational Disease Disability application of Ralph Blumenthal. The motion was made by Hilda Ingebrigtsen to grant this regular retirement pension to Ralph Blumenthal at this time pending the outcome of the Occupational Disease Disability pension hearing. The motion was seconded by Brian McVeigh the motion passed unanimously. Bob Zelek stated that he would keep the board informed as to the status of this case. ADJOURNMENT Brian McVeigh made a motion to adjourn the meeting. Nathan Gac seconded the motion. The motion passed unanimously. The meeting was adjourned at 8:06 p.m. The next meeting will be Monday, August 19, 2002, at 7:00 PM, at the Fire Administration Building. Respectfully submitted by: Mark W. Percudani, Sr. Secretary Firefighter's Pension Fund