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HomeMy WebLinkAboutFIRE PENSION - 03/06/2006 - MINUTES OF BOARD MEETING ELK GROVE FIREFIGHTER'S PENSION FUND February 6,2006 CALL TO ORDER A meeting of the Firefighter's pension fund was held on February7, 2006 in the Fire Department Administration Office 901 Brantwood Avenue. Viceresident Nathan Gac called the meeting to order at 7:10 p.m. ROLL CAL On roll call the following members were present: Nathan Gac, C 'stine Tromp,Mark Percudani, Douglas Goostree, Bernard Goss and Ann Walsh. Absse�nt were: Brian McVeigh, Craig Johnson and George Knickerbocker. Also in attendance was pension fund legal council Mary Tomanek of Solomon Smith& Barney. MINUTES A motion was made by Doug Goostree to accept the minutes of th November 7,2006 meeting.Nathan Gac seconded the motion. The motion passed ously. REPORT QF INVESTMENTS 7 Mary Tomanek submitted a quarterly review/report of the ElkGrove Village Fire Pension Fund investments with Solomon Smith Barney. She reviewed and explained its contents to the members. Due to the new regulations put in place by the Illinois state legislaLa prohibiting our pension funds from being invested in the SUDAN, Mary recommended and Nathan made the motion to allocate money from Vaughan Nelson Small Value and Vanguard Small Value to Golden Capital Management and move the funds in the Growth fund of America to Alliance Capital and take the monies that are in the International funds and distribute them in accordance with our current asset allocations. Mary stated that she will continue to seek out compliant intemational investment alternatives due to the SUDAN investment limitation now in place. TREASURERS REPORT Treasurer Christine Tromp submitted a balance sheet, open investm nt listing and disbursement register. Christine reviewed and explained the contentI6to the members. A motion was made by Mark Percudani to accept the Treasurers repbrt. Bernard Goss seconded the motion. The motion passed unanimously. OLD BUSINESS Christine stated that firefighter Howard Hall has elected to participate in the reciprocity option provided by the state pension codes and has paid all monies due to Elk Grove Village and will continue to pay the additional I%of his salary into the Elk Grove Fire Pension Fund. NEW BUSINESS Mark Percudani stated that he received notification from Victor J. Jakobsons regarding questions about reciprocity. Christine stated that she would get b k to Mark with the amount that Mr. Jakobsons received from the Elk Grove Village fire pension fund when he separated March 23, 1993,this information would then be forwarded to Mr. Jakobsons. Mark Percudani handed out literature about the changes in the makeup of the Fire Pension Boards throughout the State. The current nine-member bo ard will change to a five-member board made up of two active firefighters, one active retired firefighter (elections to be held for these positions)and two members appointled by the Mayor of Elk Grove Village. The pension board will be having elections held in I e fire stations for a one-year term and a two-year term while the retired members will elect a member to serve a three-year term. This new board would be in place on Apri 17, 2006. ADJOURNMENT Nathan Gac made a motion to adjourn the meeting. Mark Percuda seconded the motion. The motion passed unanimously. The meeting was adjourned at 8:10 p.m. The next meeting will be Monday May 1, 2006, at 7:00 PM, at the(Fire Administration Building. Respectfully submitted by: Mark W. Percudani, Sr. Secretary Firefighter's Pension Fund F1RV VILLAG VILL�{►GE FIREFI N FUND 40epl• 10 ANNUAL STATEMENT Fire Pension Trustees NAME STATUS OCCUPATION TERM EXPIRES Percudani, Mark Secretary Firefighter 04/30/2007 McVeigh,Brian President Firefighter 04/30/2008 Goss, Bernard Vice—President Retired Firefighter 04/30/2009 Miller, David Trustee Mayoral Appointment 04/30/2008 Ingebrigtsen, Hilda Trustee Mayoral Appointm nt 04/30/2009 As of May 2007 v 901 Brantwood Av. — Elk Grove Village, Illinois ¢0007 (847) 734-8000