HomeMy WebLinkAboutPOLICE PENSION - 07/12/2005 - 2 7 "
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Minutes of the Elk Grove Village
Police Pension. Board meeting, held
on July 12, 2005, at 901 Wellington,
Elk Grove Village, IL.
Myles Greenberg,
' Secretary
2 7 ()'
The meeting was called to order by Vice President Krzywicki at 3:43 p.m. . Present were
Greenberg, Gaspari, Tromp, and Mary Tomanek of Smith Barney. Absent was Ambrose.
The minutes of the last meeting, April 19, 2005 were read. Motion made by Krzywicki,
seconded by Garr to approve the minutes. Unanimous. '
Tromp presented the Treasurer's Report which included balance sheet dated May 31, 2005
and disbursement register. Motion made by Garr, seconded by Krzywicki to approve
Treasurer's Report. Unanimous.
Old Business
Mary Tomanek presented an updated report on the status of the Fund's investments. Motion
made by Garr, seconded by Gaspari, to approve 3 of the recommendations from the report:
1) Shifting passive internal funds to market duration manager, 2)change remaining assets of
Oppenheimer to Vaughn Nelson Small Cap Value due to Oppenheimer downgrade, and 3)Reduction
of Allegiance Capital trading strategy. Unanimous.
The Board received a form letter from Alexian Brothers Medical Center Occupational Health
indicating Nicholas Langendorf is fit for full duty. There was no medical report that
Occupational Health would be willing to provide. Motion made by Garr, seconded by Gaspari,
to approve Langendorf into the Fund based on the form letter alone. Greenberg-aye,
Krzywicki-nay, based on the brevity and lack of information in a form letter. Motion
carried. Krzywicki indicated he would contact the Police and Fire Commission regarding
clarification of medical screening and the reports for newly hired officers, and he would
report to the Board at the next meeting.
The Board received approval from Board attorney Reimer to allow the minutes of the meetings
to be posted on the Fop Lodge 35 website.
The Board recieved notice from the Finance Department of the distribution information '
for Officer Matthew Skanberg who resigned June 30, 2003 and requested a refund of his
contributions. The distribution was as follows:
Date hired: April 01, 2002
Date resigned: June 30, 2003
Refund amount: $5,373.99
Date paid: July 31, 2003
Motion to approve this refund made by Gaspari, seconded by Krzywicki. Unanimous.
New Business
The Board received the following bill:
$750.00 for IPPFA annual dues, 2005-2006. Motion made by Garr, seconded by Gaspari
to pay this bill. Unanimous.
Tromp receiveda letter from former Officer Dennis Raucci inquiring about fees for
his possible use of portability. Tromp will contact actuary Timoth Sharpe regarding his
fee for a report for the cost of portability when it is requested. Motion made by
Krzywicki, seconded by Garr, that any person seeking the cost of a portability transfer
shall pay the current actuarial fee at that time by the actuary designated by the Board.
Unanimous..
Krzywicki announced the next Board meeting will be held October 18, 2005, at 3:30 p.m.
at 901 Wellington, Elk Grove Village, IL.
Motion to adjourn the meeting made by Krzywicki, seconded by Garr. Unanimous. '
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