HomeMy WebLinkAboutFIRE PENSION - 08/19/2002 - tv
1,1 MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
August 19,2002
CALL TO ORDER
A meeting of the Firefighters pension fund was held on August 19, 2002 in the Fire
Department Administration Office 901 Brantwood Avenue. President Brian McVeigh
called the meeting to order at 7:05 p.m.
ROLL CALL
On roll call the following members were present: Brian McVeigh,Nathan Gac, Hilda
Ingebrigtsen, Mark Percudani, James MacArthur,Ann Walsh, and Bernard Goss.
Absent were: Craig Johnson and George Knickerbocker. Also in attendance were Karen
Benson, Michael Hams, 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 May 6, 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.
Due to the money market fund assets starting to built and the returns in the I%area Mary
Tomanek recommended and Brian McVeigh made the motion to move 1.5 million dollars
out of this area and into the 5 -10 year duration segment to help better balance the needs
in this area. The motion was seconded by Nathan Gac. 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 Nathan Gac to accept the Treasurers report. James McArthur
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 two new firefighters recently hired by the fire department. A motion was made to
accept Diana M. Bryl and Jorge M. Sigler into the Fund by Brian McVeigh.Nathan Gac
seconded the motion. The motion passed unanimously.
President Brian McVeigh presented an application for regular retirement pension from
Ronald M. Halvorsen 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 Brian McVeigh to accept the application and grant a regular
retirement pension to Ronald M. Halvorsen. The motion was seconded by Nathan Gac
the motion passed unanimously.
ADJOURNMENT
Mark Percudani made a motion to adjourn the meeting. Nathan Gac seconded the
motion. The motion passed unanimously. The meeting was adjourned at 8:05 p.m.
The next meeting will be Monday,November 4, 2002,at 7:00 PM,at the Fire
Administration Building.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund