HomeMy WebLinkAboutFIRE PENSION - 05/11/2009 - INVESTMENT REPORT/OFFICER ELECTION REPORT MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
May 11, 2009
CALL TO ORDER
A meetingof the Firefiahter's pension fund was held on May 11, 2009 in the'Fire Department
Administration Office 901 Brantwood Avenue. President Brian McVeigh called the meeting to
order at 7:05p.m.
ROLL CALL
On roll call the following members were present: Brian McVeigh, Mark Percudani, Bernard
Goss, David Miller and Hilda Ingebrigtsen, Also in attendance were Christine Tromp (Finance
Director) and Mary Tomanek financial consultant to the pension board.
MINUTES
A motion was made by Bernard Goss to accept the minutes of the February 2, 2009 meeting.
Brian McVeigh seconded the motion. The motion passed unanimously.
REPORT OF INVESTME\TTS
Mary Tomanek submitted a quarterly reviexv/report of the Elk Grove Village Fire Pension Fund
investments with Solomon Smith Barney. She reviewed and explained its contents to the
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members.
Mary recommended and Brian McVeigh made the motion to adjust our strategy to add to the
equities on market declines, we would transfer funds in the amount of$500,000.00 from long
' duration manager C.S. McKee via notification from Mary through an email. Mark Percudani
seconded the motion. The motion passed unanimously.
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Mary stated that C.S McKee has been put on watch and she recommended starting a search for a
replacement, the board agreed.
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 Mark Percudani to accept the Treasurers report. David Miller seconded
the motion. The motion passed unanimously.
OLD BUSINESS
NONE
NEW BUSINESS
Bernard Goss ran unopposed for the position of retired trustee with the Elk Grove Village fire
pension board and this term will expire on April 30, 2012. Hilda Ingebrigtsen was appointed to
another three-year term as trustee by Mayor Craig Johnson; her term will also expire on April 30,
2012.
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 Brian McVeigh and seconded by Dave Miller. The motion
passed unanimously.
ADJOUIUMENT
Mark Percudani made a motion to adjourn the meeting. Bernard Goss seconded the motion. The
motion passed unanimously. The meeting was adjourned at 7:50 p.m.
The next meeting will be Monday August 17; 2009 at 7:00 PM, at the Fire Administration
Building.
Respectfully submitted by:
Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund
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