HomeMy WebLinkAboutFIRE PENSION - 11/04/2002 - MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
November 4, 2002
CALL TO ORDER
A meeting of the Firefighter's pension fund was held on November 4, 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, , Mark Percudani,
James MacArthur, Benard Goss, Ann Walsh and Nathan Gac. Absent were: Hilda
Ingebrigtsen, Craig Johnson, and George Knickerbocker. Also in attendance was Rich
Puchlski attorney at law pension fund legal council and Mary Tomanek of Solomon
Smith& Barney along with Nora Blazek from the finance department.
MINUTES
A motion was made by Brian McVeigh to accept the minutes of the August 19, 2002
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.
Mary recommended and Nathan Gac made the motion to place the 1.2 million dollars
from the Treasury note that is due on November 15, 2002 and place it into Pacific Income
fund. The motion was seconded by Brian McVeigh. the motion passed unanimously.
TREASURER'S REPORT
Nora submitted a balance sheet and disbursement register. Nora 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
James MacAuthur asked the pension attorney if he had heard of anything of Ralph
Blumenthal's retirement benefits. The pension attorney stated he had nothing new to
report to the board.
NEW BUSINESS
President Brian McVeigh presented to the Board an application for regular retirement
pension by Dale Banot, included in his annual salary was an additional stipen
(management enhancement package),this is the first time the board has seen this stipend
added to an annual salary. The board asked our attorney to review the regulations and
legality of this amount being attached to his salary. The attorney will report back to the
board on his findings. In the mean time Dale's retirement benefits will not include this
amount. Creditable service time was verified through the Fire Chiefs office along with
the finance department. A motion was made by Nathan Gac to accept the application and
grant a regular retirement pension to Dale Banot. The motion was seconded by Benard
Goss. The motion passed unanimously.
President Brian McVeigh stated that he is in receipt of Pension applications and all
supporting documents of Mark R. Pytlewicz. A motion was made by Brain McVeigh to
accept Mark R. Pytlewicz into the Elk Grove Village Fire Pension fund. The motion was
seconded by Nathan Gac. The motion passed unanimously.
Daniel Baus called Mark Percudani in regards to his refund of pension contributions due
him. The Board will look into receiving his request for a refund.
ADJOURNMENT
Brian McVeigh made a motion to adjourn the meeting. Nathan Gac seconded the motion.
The motion passed unanimously. The meeting was adjourned at 7:40 p.m.
The next meeting will be Monday, February 3, 2003, at 7:00 PM, at the Fire
Administration Building.
Respectfully submitted by:
XZ
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund