HomeMy WebLinkAboutFIRE PENSION - 02/04/2008 - FIRE PENSION MEETING MINUTES MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
February 4, 2008
CALL TO ORDER
A meetingof the Firefighter's pension fund was held on February 4. 2008 in the Fire
Department Administration Office 901 Brantwood Avenue. President Brian McVeigh
called the meeting to order at 7:1 Op.m.
ROLL CALL
On roll call the following members were present: Brian McVeigh, Mark Percudani,
Bernard Goss; Dave Miller and Hilda Ingebrigtsen. Also in attendance were Christine
Tromp (Finance Director) and Mary Tomanack financial consultant to the pension board.
MINUTES
A motion was made by David Miller to accept the minutes of the November 5, 2007.
Brian McVeigh 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. She reviewed and explained its contents
to the members.
Mary reported that Alliance Capital Large Growth was placed on Watch status.
Discussion took place on transferring monies into an account with Atalanta Sosnof. or
Red Granite. Bernard Goss made the motion to transfer the funds into Atalanta Mark
Percudani Seconded the motion. The motion Passed unanimously.
Mary agreed to attend a special informative meeting to present to the board a more
defensive strategy. This meeting took place after the regular pension board meeting. See
attached notes.
TREASURERS REPORT
Christine Tromp submitted a balance sheet, open investment listing and disbursement
register. Christine reviewed and explained the contents to the members.
A motion was made by Dave Miller to accept the Treasurers report. Brian McVeigh
seconded the motion. The motion passed unanimously.
OLD BUSINESS
HELPS information was sent out to all retirees by Secretary Mark Percudani via email
and regular mail.
NEW BUSINESS
Brian McVeighs and Dave Millers terms are due to expire on April 30, 2008. Secretary
Mark Percudani will contact the Mayors office in reference to Dave Millers appointed
position. Mark will also place notices in all four fire stations stating that a three year term
to the Fire Pension board is available to any active Firefighter that wishes to run. Brian
has indicated that he would be interested in this position again.
ADJOURNMENT
Dave Miller made a motion to adjourn the meeting. Hilda Ingebrigtsen seconded the
motion. The motion passed unanimously. The meeting was adjourned at 8:00 p.m.
The next meeting will be Monday May 12; 2008 at 7:00 PM, at the Fire Administration
Building.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund