HomeMy WebLinkAboutFIRE PENSION - 05/12/2008 - FIRE PENSION MEETING MINUTES MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
May 12, 2008
CALL TO ORDER
A meetingof the Firefighter's pension fund was held on May 12. 2008 in the Fire Department
Administration Office 901 Brantwood Avenue. Vice-President Bernard Goss called the meeting
to order at 7:15p.m.
ROLL CALL
On roll call the following members were present: Mark Percudani; Bernard Goss and Hilda
Ingebrigtsen. Also in attendance were Christine Tromp (Finance Director), Scott Miller and
Mary Tomanack financial consultant to the pension board. Absent was Brian McVeigh and Dave
Miller.
MINUTES
A motion was made by Hilda Ingebrigtsen to accept the minutes of the Febuary 4; 2008 meetings
Bernard Goss 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 recommended and Bernard Goss made the motion to transfer another $1.2 million into the
defensive diversification strategies equities. increasing the total amount to 15% of equities. The
monies would come from the following; $200;000 from the international equities and $500;000
from each MacKay Shields large value and Voyageur Large Growth. The monies would be
invested proportionately between Calamos, Gateway and Ivy. Hilda seconded the motion. The
motion passed unanimously.
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 Bernard Goss to accept the Treasurers report. Hilda seconded the motion.
The motion passed unanimously.
OLD BUSINESS
None
NEW BUSINESS
Brian McVeigh's and Dave Miller's terms had expired on April 30, 2008. Dave Miller was
appointed to another three year term. Brian McVeigh ran unopposed for his threeyear term of
office. Both Dave and Brian's term will expire April 30, 2011.
Election of this years officers was held. Brian McVeigh will serve as President of the fund.
Bernard Goss will serve as Vice-President and Mark Percudani will serve as the Secretary of the
fund. The motion was made by Bernard Goss and seconded by Hilda. The motion passed
unanimously.
Belinda Gualielmo has applied for a none duty related disability and Brian is working with our
pension attorney Richard J. Reimer and moving forward with the application.
ADJOURMENT
Bernard Goss made a motion to adjourn the meeting. Hilda Ingebrigtsen seconded the motion.
The motion passed unanimously. The meeting was adjourned at 7:43 p.m.
The next meeting will be Monday August 11, 2008 at 7:00 PM, at the Fire Administration
Building.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund