HomeMy WebLinkAboutPOLICE PENSION - 07/17/2001 - The meeting was called to ordr at 3:35 p.m. by President Ambrose. Present were Garr,
Greenberg, Roeske, Hilda Ingebrigtsen, and Mary Tomanek of Solomon Smith Barney.
Absent was Lancaster.
The minutes of the last meeting, April 24, 2001 were read. Motion made by Garr,
seconded by Greenberg to accept the minutes. Motion carried.
Hilda Ingebrigtsen presented the Treasurers report which included balance sheet dated
May 31, 2001, and disbursement register. Motion made by Garr, seconded by Roeske
to accept Treasurers report. Motion carried.
Old Business
Mary Tomanek presented an updated report on the status of the Fund's investments.
Motion made by Garr, seconded by Greenberg, to continue funding the 20+ duration
segment with $230,000.00 per month. Motion carried.
Motion made by Roeske, seconded by Garr, to ammend the proposed changes to the investment
policy guidelines wording recommended by Solomon Smith Barney from "seek to rebalance"
to "consider rebalancing". Motion carried.
A motion was made by Ambrose at 4:28 p.m. for the Board to enter into Executive Session
for the purposes of discussing pending litigation. Greenberg, Roeske, and Garr all
voted in favor of Executive Session. A motion was made by Greenberg at 5:10 to end
Executive Session. Ambrose, Roeske, and Garr all voted in favor of ending Executive
Session.
A motion was made by Garr to hold an evidentiary hearing regarding Ofc Celia's request
to return to duty. Ambrose, Greenberg, and Roeske all voted in favor of this bearing.
The matter will be referred to Board attorney Reimer by Ambrose.
"New Business
Former Officer Don Suchomski has decided to use portability, and has forwarded his
required payment of $31,136 to the Fund. Motion made by Garr, seconded by Greenberg,
to forward the actuarial determined amount required, $75,984 to the Schaumburg Police
Pension Fund. Motion carried.
The Board received a copy of the letters to the newly hired Officers, Daniel Burke,
Kristen Julian, and Shaun Berens indicating they were hired July 02, 2001. The Board
also received the applications to enter the Fund from each of the newly hired Officers.
Motion made by Roeske, seconded by Greenberg to accept all three Officers into the
Fund. Motion carried.
The Board received the following bills:
$447.50 for April legal fees for atty Reimer re: Celia
$75.00 for May legal fees for atty Reimer re: Celia
$225.00 for June legal fees for atty Reimer re: Celia
$2,310.00 for Dr. Harris for evaluation of Celia
$650.00 for IPPFA annual membership dues
Motion made by Roeske, seconded by Greenberg to pay these bills. Motion carried.
The Board received notice from the Police and Fire Commission that four officers,
Chmelik, Kreczyk, LaPak, and R. Meyers have successfully completed their one year
probationary period, effective June 19, 2001, and are appointed to the permanent
position of police officers.
The Board received notice from Ofc. Anne Kapolnek that she resigned her position effective
May 11, 2001, and she was requesting her contributions be refunded. A payout packet
was provided to Kapolnek, but as of this Board meeting, she has not returned the packet
to indicate method of payment.
Ambrose announced the next meeting will be held on October 16, 2001 at 3:30 p.m. at 901
Wellington. Motion to adjourn by Roeske, seconded by Greenberg. Motion carried.
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