HomeMy WebLinkAboutPOLICE PENSION - 02/22/1979 - 101
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Baz.RD OF TRUSTEES
POLICE PENSION FUND
Minutes of Reqular Quarterly Meeting held Thursday,
February 22, 1979. Meeting was held in the Trustee
Conference Roan, Municipal Building, 901 Wellington
Avenue, Elk Grove Village, Illinois.
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Prepared by: Robert T. Canary
Vice President
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President Diener called the meeting to order at 7:05 P.M.
Roll Call of Officers: President Diemer, Vice President Canary, Assistant
Secretary Farley, Treasurer Coney, Acting Secretary John Bantner. All
present.
Minutes of the previous meeting held on October 10, 1978 were read.
Motion by Farley, seconded by Diener to accept as written. Motion carried.
Motion by Farley, seconded by Diemer that contributions made to the Pension
Fund by former Patrol Officer Michael Ginski and forner Police Sergeant
Eugene Brandt be returned to them. Total of Eugene Brandt's contribution
$13,552.51. Motion carried.
New applications were received from Edward Dahlquist and John Canary for
participation in the Police Pension Fund,
Treasurer's Report: Mr. Coney reported an investment on February 12, 1979
of $24,000 in Treasury Bonds due August 15, 2000 at 8.378, actual cost
$22.620. Motion for approval made by Diener, seconded by Canary, carried.
It was requested by President Diener that Canary look into the facts
concerning farmer Chief Harry P. Jenkins' pension funds. It is unknown
at this time whether Jenkins funds were refunded or frozen at the time
of his resignation.
Notion by Diemen, seconded by Farley that the Board accept Donald Jones'
resignation as Trustee of the Pension Fund effective February 28, 1979,
due to personal reasons; and, accept the resignation of Eugene Brandt
frau the Pension Board due to his resignation from the Elk Grove Village
Police Department. Motion carried.
The Board directed Vice President Canary to make plans for the election
of two (2) trustees for the Elk Grove Village Pension Fund by May 1, 1979.
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Treasurer Coney reported that the Illinois Municipal League requested
! a study be made by them of the Police Pension Fund that will cost the
Fund a total not to exceed $450 due April 1, 1979. Motion by Diener,
seconded by Canary. Carried.
Discussion was held by the entire Board reference future plans by the
State of Illinois concerning the fate of various police pension funds.
More material to be gathered and presented at a future meeting.
The next regularly scheduled Pension Board Meeting will be held the
first Tuesday in May, May 1, 1979.
Motion to adjourn made by Dienes, seconded by Farley. Carried.
Meeting adjourned at 8:00 P.M.
Submitted by:
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Robert T. Canary
Vice President
c: Diener
Canary
Farley
Coney
P. Turner
F. Bishop
Willis
B.B.
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