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Home My WebLink AboutFIRE PENSION - 02/03/2003 - MINUTES OF BOARD MEETING ELK GROVE FIREFIGHTER'S PENSION FUND February 3,2003 CALL TO ORDER A meeting of the Firefighter's pension fund was held on February 3, 2003 in the Fire Department Administration Office 901 Brantwood Avenue. President Brian McVeigh called the meeting to order at 7:00 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 was Bob Zelek attorney at law pension fund legal council, Mary Tomanek of Solomon Smith &Barney and pension fund member Douglas Goostree. MINUTES A motion was made by Bernard Goss to accept the minutes of the November 4, 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. He reviewed and explained its contents to its members. Mary made the recommendation to fund the 2-5 year segment by investing monies from the money market account in a fixed rate annuities in insurance companies. The rate will be locked in at the time of investment. The account would only include well known high quality insurance companies. Mary stated that this would help to offset the accounts that will not be performing very well when the interest rates start to go up,while maintaining account diversification. Brian McVeigh made the motion to have Mary start looking into possible investments Mary will contact two board members if and when this account can be established. Nathan Gac seconded the motion. The motion passed unanimously TREASURER'S REPORT Treasurer Hilda Ingebrigtsen submitted a balance sheet, open investment listing and disbursement register. Hilda reviewed and explained the contents to the members pointing out that a new classification"QUILDROS"is included in the Fire Pension Gross Monthly Payments. This is a result of the court order involved in the Halvorsen Pension. A motion was made by Nathan Gac to accept the Treasurers report. Brian McVeigh seconded the motion. The motion passed unanimously. Hilda presented the board with a list of all automatic increases for January 2003. This will be marked as "EXIBIT A"and is attached to these minutes. Brian McVeigh made the motion to accept and approve these automatic increases. The motion was seconded by Nathan Gac. The motion passed unanimously. Hilda reported that the .11age Board has adopted and approve(, e tax levy that was required for the fire pension fund per the actuarial. OLD BUSINESS Hilda presented the Board with the refund application that Daniel Baus filed with the Finance department. Brian McVeigh made the motion to grant a refund of$3204.00. Bernard Goss seconded the motion. The motion passed unanimously. Hilda stated she was in contact with the Illinois Department of Insurance regarding the management enhancement package involved with the Dale Banot pension. Hilda stated that this is a permanent amount that will always be included in the yearly salary of an individual receiving this stipend, the amount may very from year to year but this is a component of his salary and will paid every year (similar to the longevity stipend given to the firefighter), except this amount is to be paid in a one lump sum every November. Hilda stated that the lump sum payment is considered part of the salary therefore the proper amount of monies is paid to the pension fund. This item is to be included in the pension of Dale Banot. NEW BUSINESS The Board was presented an application for a regular retirement pension for James MacArthur . Creditable service time was verified through the Fire Chiefs office along with the Finance department. A motion was made by Brian McVeigh to grant a regular retirement pension to James MacArthur. Hilda Ingbrigsten seconded the motion. The motion passed unanimously. With regards to the passing of retired pension fund member John Serbec on December 25, 2003, Hilda stated that the December check was mailed prior to the notification of his death. Hilda reported that she was in contact with the family advising them of this and that an amount of$559.18 is to be returned to the pension fund(This is the pension amount paid for December 26,2002 through December 31, 2002). Hilda stated that the family understood this and that a check for this amount along with a death certificate would be returned to the pension fund. ADJOURNMENT Bernard Goss made a motion to adjourn the meeting. Brian McVeigh seconded the motion. The motion passed unanimously. The meeting was adjourned at 7:50 p.m. The next meeting will be Monday, May 5, 2003, at 7:00 PM, at the Fire Administration Building. Respectfully submitted by: Mark W. Percudani, Sr. Secretary Firefighter's Pension Fund _ FIRE PENSION 21312uvj J''b GROSS PENSION PAYMENTS I 2002-2003 FISCAL YEr,r Benefit Current Pension as of Date DOB Pension Increase., Jan-03 RETIREE .yr yJtr. r BANOT DALE 11/5/2002 5/15/1947 4,984.00 ... .. 4,984.00 BLUMENTHAL RALPH 5/11/2002 10/14/1950 3,386.43 'Y'"pa�.�,J; 3,386.43 BOULANGER LEO 7/21/2001 8123/1949 3,616.25 '4q 3,616.25 CASTERTON THOMAS 5/15/2000 5121/1941 4,376.61 t :1`Q7.30 4.50291 CLARK WILLIAM 7/28/2001 11117/1943 5,414.97 y 5,577.42 COLMAN EDWIN 111811996 7/1511943 2,953.79 S^i;;136.67! 3,04240 FALK ROBERT 6/9/2001 11/20/1943 3,724.74 "117,741 3,836.48 FRERES RONALD 10/7/1991 10/7/1941 2,30686 �272,376.07 GARDNER JOSEPH 6/2/1994 2/13/1941 2,55372 :; 61: 2,630.33 GAUSS THOMAS 6/4/1998 9/28/1942 3,89096 ; ".#f673 4,007.69 GOSS BERNARD 11/7/1999 2113/1943 4,5274582; 4,663.27 HANKO JOHN 5/4/1995 2/2311939 3,03161 'ro `"9095? 3,122.56 HALVORSEN RONALD 5/25/2002 619/1950 2,375 73 ( +Oen§,yjpF :` 2,375.73 HENRICI CHARLES 312811986 11/21/1935 3,49990 s � qjJ'' 00 3,604.90 HERRMANN ROBERT 514/1998 1/14/1948 3,64513 RffAY `+ 3 3.645.13 HOHMAN RAYMOND 7/20/1996 6/4/1931 3,81127 k `'g 3,925.61 HOOD CLYDE 611511996 6/3/1938 3,97259 „It11 "''e118.f 4,091.77 KEMP JAMES 9/311996 5/12/1939 2,806.55 ,Vie;", e 7 2.890.75 KEYWORTH RICHARD 12/31/2000 11/15/1942 4,115.94 ,. .76 4,239.42 KOPINSKI LEONARD 6/10/1997 12121/1937 3,387.39 �'lyija'' 7;fi ° 3,489.01 KRIESANT WALTER 5/12/1989 511311935 2,223.03 NrroN'p„/, x,691 2.289.72 KUHN DONALD 11/28/1988 10/2311934 3,264.51 "1' 3 3,36245 LACKMAN MICHAEL 8125/2001 121611950 4,296.17 .:4 4.296.17 LANGLAND DONALD 7/31/1994 7/911941 3,320.78 x823 3,420.40 LANTZ JOHN 9/10/1988 9/6/1933 2,527.21 . 2,603.03 MENAS ROBERT 7/2511998 12/11/1935 4,400.18 4,532.19 MERGENS JOHN 911611999 6/26/1935 4,714.51 4,855.95 MEYER JOSEPH 5/19/1990 3131/1940 2,160.21 2,225.02 MORONY THOMAS 7/17/2000 1/10/1944 3,834.44 3,949.47 NOVAK LAWRENCE 6/8/1995 3/4/1939 2,851.61 2,937.16 POPIELEWSKI THADDEUS 5/31/2001 7/811941 3,662.66 3,772.54 RATHKE ARTHUR 8110/1996 8/1811937 2,948.08 3,036.52 RENNACK CRAIG 5/15/2002 6/4/1948 3,751.13 3,751.13 RIDDLE GREGORY 7/1/2000 6/11/1949 4,704.03 4,704.03 RZESZUTKO KENNETH 5/3/1990 12/25/1943 1,970.74 2,029.86 SERBEC JOHN 8/1/1995 12/1/1939 2,889.10 2,975.77 SINGEL WAYNE 8112/1988 2/20/1938 2,927.39 3,015.21 STROKER HOWARD 5/18/1992 6/18/1934 2,621.33 2,690.97 SUNAGEL JAMES 811/1989 8/4/1938 3,391.46 3,493.20 WISNIEWSKI THOMAS 5/2/1999 9/22/1939 3,366.93 3,467.94 ZGONINA LEONARD 7/31/1986 1/15/1932 2,344.29 2,414.62 Sub4ctal Refi aes 140,551.68 143 845.48 DISABILITY MC CULLA 5/8/1986 3/1/1940 2,076.77 2,119.74 NORRIS 8/5/1965 12/14/1942 1,645.04 2,484.02 ROHRER FREDERICK 2/311995 8/23/1941 3,245.77 3,328.29 RYAN 12/30/1992 4/9/1939 3,117.24 3.191.01 SCOTT RANDALL 1/21/1995 3/20/1933 2,794.08 2,86.5.12 SPEIDEN HARVEY 12/8/1996 319/1942 2,567.72 3,029.91 IERNBERG RONALD 11/4/1994 6/12/7936 2,258.54 2.313.18 Sub4otal Dlsabil 17 705.16 19 351.27 SURVTVORS CLIFFORD PATRICIA 12/21/1982 12/14/1944 1,000.00 1.000.00 WELLWERTS DIANE 7/5/1998 2/11/1965 3,639.00 3,679.00 MAYER 10/10/1995 8/7/1951 2,045.83 2,045.83 Sub4ohl Survivors 6,684.83 6884.83 OUILDROS HALVORSEN LYNN 1,010.70 1,010.70 Sub4otal Ouildros 1,010.70 TOTAL GROSS FIRE PENSION 165 952.37 170 872.26 Refund of Member Contributions-Schlosser Alw Total Pension Payments ..16=59S2.37 170 872.28 cc: Hilda Ingebrigtsen,Gross Pension File G:L..Flnarrcet4cctWaneyUPonsionsWPF-DEC-02 Gross Pension