The URL can be used to link to this page

Home My WebLink AboutFIRE PENSION - 08/07/2017 - Fire Pension Minutes MINUTES OFBOARD MEETING ° - ELK GROVE FIREFIGHTERS PENSION FUND August T20D7 CALL TO ORDER A meeting of the Elk Grove Firefighters Pension Fund was held on August 7, 2017 in conference room "A" 8tthe Charles Zet gk K8UD|dpa| Center located @t90IWellington Ave. Vice President Mike 82lped|O called the meeting toorder at1:3SPM. ROLL CALL The following board members attended the meeting: Bernard Goss, Mike Belpedio, and Joe Hamilton. Absent were Richard Miku| and Tim Sexton.Also in attendance were Finance Director Christine Tromp, aswell asJose Sanchez and Paul Marchese ofMarquette Associates. MINUTES Goss made a motion toaccept the minutes from the May l' 2017 board meeting. Be|pedioseconded the motion.The motion passed unanimously. REPORT OF INVESTMENTS Paul Marchese of Marquette Associates submitted the Elk Grove Village Firefighters Pension Fund Executed Summary dated June 3D, 2017. In summary,the Total Fund had a return of 2.5% (net)for the quarter, in line with the policy benchmark AV*11 return of 2.5%.The Total Fund had a return of 10.5%(net)for the year, slightly underperforming the policy benchmark return of 10.6%.The Total Fund value as of March 31, 2017 was$78,859,015. Noactions were recommended. TREASURER'S REPORT Christine Tromp submitted an open investment listing, disbursement register and a balance sheet dated May]1, ZO17.Tromp reviewed and explained the contents tothe members. � There were noincreases topension payments. � The Village isinthe middle oftheir annual auditTrnmpexp|ainedtha�with�henewactuaria| tab|e�. � ' \ she anticipates the funding level to increase above 60%for the next actuarial report. Belpedio made a motion to accept the Treasurer's report. Goss seconded the motion. The motion passed unanimously. , OLD BUSINESS None. NEW BUSINESS Hamilton stated that he was in receipt of FF Doug Brammer's application for regular retirement. �—� Application checked against pension records,and all paperwork was in order. Doug Brammer began his career on March 13, 1995, and he is currently married with three children, which two are under the age of 18. Brammer is retiring with 23 years and 6 months of service to the Elk Grove Fire Department. Brammer served in the US army and bought-back 1 year and 1 month of credible military time. Brammer is retiring on 8/17/2017 and will have initial annual benefit of$56,505. Goss motioned to accept Doug Brammer's application, and Belpedio seconded the motion.The motion passed unanimously. PUBLIC COMMENT None. ADJOURNMENT Belpedio made a motion to adjourn the meeting. Hamilton seconded the motion.The motion passed unanimously.The meeting adjourning at 2:05 PM. The next regular meeting date will be November 6, 2017 at 1:30 PM in conference room "A"at the Charles Zettek Municipal Center. Respectfully submitted by: Joe Hamilton Secretary, Elk Grove Village Firefighters Pension Fund Ktc t +VBG ; v; fC1r'P VILLAGE OF ELK GROVE REVENUE AND EXPENSE REPORT FIRE PENSION TRUST FUND FOR PERIOD ENDED MAY 31,2017 ANNUAL BUDGET YTD REVENUES: Property Taxes 3,176,320 1,292,224 41% Electric Use Tax Ic ac ry x-to c� Px ct n �1 �G , ss:> + _� �7 K— .1C C.6 ;� svre.r r - 0°/n Intergovernmental-PPRT 349,430 66,784 190/. Interest Income 5,000,500 467,906 9% Member Contributions 820,000 65,091 8% Portability Buy Back: - 0% Other01/0 TOTAL REVENUES 9,346,250 2,892,005 20% EXPENSES: MONTHLY BENEFIT PAYMENTS: Member Pensions 6,525,000 419,466 Surviving Spouse Pensions 53,326 Disability Pensions 37,280 Quildros 2,610 Sub-Total 6,525,000 512,682 8% Aoot#520200 Office Supplies 250 - 0% Acct#530300 Publishing/Advertising 250 0% Acct#540100 Dues&Memberships - 0% Acct 4541000 Career Development 5,000 0% Acct 4560000 Professional Services 65,000 0% Includes quarterly payments to Marquette: Acct#560500/560501 Professional Management Fees Equity Managers 20,000 0% Professional Management Fees Fixed Income 50,000 240 0% Acct#571000 Other Services&Charges Compliance Fee 10,000 - 0 Acct#570500 Refund-Member Contributions 5,000 0% Sub-Total 155,500 240 0% TOTAL EXPENSES 6,680,500 512,922 8% Revenues Over(Under)Expenses 2,665,750 1,379,083 G:IFINANCEIACCT1Acctg Supervisor\Fire Pension Reports\Reports for Meetingst[17-18 Fin Pension Meeting Reports.xlsx]Mayl7 INC.ST-Aug 2017 mtg AMW VILLAGE OF ELK GROVE STATEMENT OF PLAN NET ASSETS FIRE PENSION TRUST FUND AS OF MAY 31,2017 BALANCE GAIN/(LOSS) EARNINGS FEES ASSETS Cash and Investments US Bank 1,851,851 J.P.Morgan Chase 456,742 Insurance: Metlife Life Insurance 558,521 3/27/03 Goss $350,000 acct# 9200519341 Principal US Property Fund 7,152,814 - U.S.Bank Managed Accounts: U.S.Bank Mutual Fund 38,226,126 504,559 McDonnell 12,185,073 38,726 (61,115) 113 Ryan Labs-C.S.Mckee 12,187,337 28,289 (42,588) 127 Total Cash and Investments $ 72,618 464 571,574 (103,703) 240 Due From General Fund 329,843 Accrued Interest Total Receivables $ 329,843 Total Assets $ 72,948,307 LIABILITIES: Accounts Payable Deferred Property Taxes - Due To General Fund - Liability/Other Benefits 4,958 Total Liabilities $ 4,958 Net Assets Held in Trust for Pension Benefits $ 72,943,349 Note Per an independent actuarial report, the fund is 58.6%(entry age)funded as of May 1, 2016 G:\FINANCE\ACC RAcctg Supervisor\Fire Pension Reports\Reports for Meetings\[17-18 Fire Pension Meeting Reports.xlsx]May BS-Aug 2017 mtg VILLAGE OF ELK GROVE STATEMENT OF PLAN NET ASSETS FIRE PENSION TRUST FUND AS OF APRIL 30,2017 BALANCE GAINI(LOSS) EARNINGS FEES ASSETS Cash and Investments US Bank 1,851,820 J.P.Morgan Chase 837,548 Insurance: Metlife Life Insurance 558,521 3/27103 Goss $350,000 acct# 9200519341 Principal US Property Fund 7,152,814 571,381 U.S.Bank Managed Accounts: U.S.Bank Mutual Fund 40,221,358 5,012,838 736,744 3,939 McDonnell 10,876,991 (250,881) 303,259 23,850 Ryan Labs-C.S.Mckee 10,886,292 (188.513) 268,297 27,865 Total Cash and Investments $ 72,385 344 5,144,825 1,308,300 55,654 Due From General Fund 329.843 Accrued Interest 146,261 Total Receivables $ 476,104 Total Assets $ 72,861,448 LIABILITIES: Accounts Payable - Deferred Property Taxes 1,292,224 Due To General Fund - LiabilitylOther Benefits 4,958 Total Liabilities $ 1,297,182 Net Assets Held in Trust for Pension Benefits $ 71,564,266 Note: Per an independent actuarial report, the fund is 58.6%(entry age)funded as of Afay 1, 2016. G:IFINANCEIACCT1Acctg SupervisorTire Pension ReportslReports for Meetingsl[16-17 Fire Pension Meeting Reports.xlsx]Aprl7 INC.ST-Aug 2017 mtg VILLAGE OF ELK GROVE REVENUE AND EXPENSE REPORT FIRE PENSION TRUST FUND FOR YEAR ENDED APRIL 30,2017 ANNUAL BUDGET YTD % p REVENUES: Property Taxes 2,654,846 2,571,515 97% Electric Use Tar // 2,000,000 2,138,514 107% intergovernmental-PPRT 54,;-1, ,.r Ad, �i C t`� 358,440 357,536 100% Interest Income �� 7,t �t �_ fry y[L 1 5,000,100 6,472,136 129% Member Contributions 750,000 808,397 108% Portability Buy Back: - 94,546 0% Tsoulos buy back $12,499 Naida military buy back $54,345 Other 100 0% TOTAL REVENUES 10,763,386 12,442,744 1160/. EXPENSES: MONTHLY BENEFIT PAYMENTS: Member Pensions 6,200,000 5,025,987 ' Surviving Spouse Pensions 543,634 Disability Pensions 433,747 Quildros 30,708 Sub-Total 6,200,000 6,034,076 97% Acct#520200 Office Supplies 250 0% Acct#530300 Publishing/Advertising 250 0% Acct#540100 Dues&Memberships 800 795 99% Acct#541000 Career Development 5,000 2,125 43% Acct#560000 Professional Services 64,200 46,664 73% Includes quarterly payments to Marquette: July 2016 $11,250 October 2016 $11.250 January 2017 $11,250 April 2017 $11,250 Acct#560500/560501 Professional Management Fees Equity Managers 50,000 3,939 8% Professional Management Fees Fixed Income 50,000 51,717 103% Acct#571000 Other Services&Charges Compliance Fee 10,000 8,204 82% Acct#570500 Refund-Member Contributions 3,000 - 0% Sub-Total 183,500 113,444 62% TOTAL EXPENSES 6,383,500 6,147,520 96% Revenues Over(Under)Expenses 4,379,886 6,295,224 G:\FINANCEwcCPAcctg supervisorlFire Pension ReportslReporu for MeetingsA 16-17 Fire Pension Meeting Reports.xlsx]Aprl7 INC.ST-Aug 2017 mtg IS P�fd�v�cl ' D 7162017 it FIRE PENSION FUND 3ROSS MONTHLY PENSION PAYMENTS FISCAL YEAR -2 18 A/C HTE:721.2101491-19-M A/C MUNIS:7210211510721 I Benefit Data May-17 R BANOT DALE 11/05/02 7,764.91 BECK PATRICK 12/22/04 S 100.83 BENSON KAREN 06/04/11 5,899.46 BLUMENTHAL RALPH 05/11/02 6,306.76 j BOULANGER LEO 07/21101 5,801,79 CASSATA BRET 08/28/18 CASTERTON THOMAS 05/15/00 6,818.61 CLARK WILLIAM 0728/01 8,436.34 COLMAN DOD 12/26/2018 EDWIN 11/08196 DENNA SR. JAMES 11/29/12 7.971.31 DUGAN RICHARD 05!08/04 6462.56 FALK ROBERT- 06/09/01 5803.03 j FORDE,JAMES JAMES 1 06/01/05 8733.19 i FORDS JOHN JOHN 07/30108 6,863.61 FRERES RONALD i i/07/91 3,59&96 GARCHIE RICHARD 05/14/16 7,442.61 GARDN€R JOSEPH 06/02!94 3,978.63 GAUSS THOMAS 06/04/98 6,061.98 GOOSTREE DOUGLAS 06110/06 9,931.03 GOSS BERNARD 11107/99 7,053.64 GREEN OWEN 03/17/05 5336.79 GUGLIELMO BELINDA 04/06/22 GUGLIELMO JOHN 01/18/11 5054.94 GUSTAVSEN HANS 11/16/13 5343.10 ALL HOWARD 06124/12 4731.35 ALVORSEN RONALD 05/25102 3700.51 ,4ANKO JOHN 05/04/95 4,723.16 HANSELMAN FRED 11/17/10 6,398.72 HARRIS MICHAEL 06/01/10 7,392.67 HAVERLAND PHILIP 08/12/08 6,077,64 HENRICI CHARLES 03/28/86 5,452.69 HERRMANN ROBERT 05!04196 6285.48 HOPKINS WILUAM 07/06/10 6106.63 KEMP DOD 216!2017 JAMES 09/03/96 KEYWORTH RICHARD 12/31/00 6412.50 KOPINSKI LEONARD 06/10/97 5,274.78 KRIESANT DOD 9!30/2016 WALTER 05/12/89 KUHN DONALD 11/28/88 508617 LACKMAN MICHAEL 08/25/01 6,720.36 LAMKA _ DANIEL 06/01/10 8106.63 LANGLAND DONALD 07!31/94 5173.67 MACARTHUR JAMES 02/18/03 9,840.17 MARSHALL ROBERT 1 09/13/04 5,881.16 MERGENS JOHN 09!16199 7 345.06 MIKENAS ROBERT 07/04!07 5746.16 MILLER DAVID 07/02/11 10693.25 MILLER SCOTT 12117/13 8,047.03 MORONY THOMAS 07/17/00 5 973.92 NOVAK LAWRENCE 06/08/95 4,440.28 OGOREK EDWARD 11/18/10 7100.59 PASSAGLIA PETER 05/31/15 5,907,35 PENN CARLA 05120/15 4,642.33 PILKINGTON WILLIAM 06104/07 7170.06 POPIELEWSKI THADDEUS 05/31/01 5,706.30 QUINLAN GERALD 01124/11 6,212.35 QUINN KEVIN 11/16/13 4,738.93 RATHKE ARTHUR 08/10/96 4,593.01 REID WILLIAM 11/17/10 6106.63 REINHARDT THOMAS 0925/15 5975.25 ENNACK CRAIG 05/15/02 5,8404 !ESZUTKO KENNETH 05/03/90 3070.30 .CHLOTTMAN RANDALL 07/18/1D 6398.72 SELLERS WILLIAM 05/19/15 7.522.16 SINGEL WAYNE 08/12/88 4,5W.76 STECKI ROBERT 0520/15 6,855.91 FY 2017aGross_Pensial_Fire MONTHLY PAYMENTS - 7/6/2017 FIRE PENSION j FUND_ 3ROSS MONTHLY PENSION PAYMENTS FISC Y 18 AIC HTE:721-2101491-19-00 A/C MUNIS:7210211510721 Smeflt Data Ma-17 STILLSON MELVIN I 11/16/13 5,914.84 STROKER HOWARD 05/18/92 4,084.35 SUNAGEL JAMES 08/01/89 5,283.91 TOSTO MICHAEL 05/17/14 5,765.68 TURNER MICHAEL 11/29/14 7,098.25 VRSHEK ALBERT 06/02/10 9,469.22 WILHELM FRANK 09/15103 5,&10.64 WISNIEWSKI THOMAS 05/02/99 6,246.71 Sub-total Retirees j 419,466.36 DfSABIU'Y-DUTY JOHNSON JAMES 12121/10 7092,92 NORRIS JERRY oatm85 3,174.91 ROHRER FREDERICK 02103/95 4,48157 SCOTT RANDALL 01121/95 3,859.68 SPEIDEN HARVEY 12/08/96 4108.33 STERZEL GARY 12/21/10 7,29521 Sub-total Du Disabiii 30 014.62 Q{.,�A¢ TY-NQN DUTY RYAN LARRY 12/30192 4186.65 TERNBERG RONALD 11/04/94 3,078.15 Subtotal Non Du Dfsablti 7 264,80 R HOOD EILEEN 03/07/05 4,340.96 KRIESANT LENA 10/0176 3,361.95 WELLWERTS DIANE 07/05/98 3639.00 BARSEAU KEMP LAURA 4,372.50 COLMAN BARBARA 4,467.86 MAYER RENVEIG 1010195 2,045.54 MC CULLA, IDARLENE 01/"10 2,420.53 MEYER GERALDINE 09/14/10 2 736.48 RIDDLE CHARLENE 06/28/14 7,080.28 MENAS LORNA 07/31/14 6273.61 LANTZ LINDA 03/22/15 3,711.15 ZGONINA MARIA 06!01!15 3 442.71 SCHULZ SHIRLEY 0727915 5,433.13 Sub-total Survivors 53 326.00 S MARCONI HALVORSEN LYNN 1,574.34 - GUGLIELMO BELINDA 1,035.36 Sub-total Ouildros 2,609.70 ` TOTAL GROSS FIRE PENSION 512 581.48 Tom Reinhardt retro increase Total Pension Payments 512,661.48 ' FY 2017aGross Pension Fire MONTHLY PAYMENTS lomm 29P 9 "a 11 i P I 0 1 C. Nam E iz i2 ��`� =i��"i��la��'��A�1�; �(8 �!w � ,p�l�� I" ��, I�o I r $�z � �� , �a �`�s��!�� ("��s; f ��!� ��15�=� �g�f ' ;fit�I�, ' �I_s�i ��i I I I��._.. ty ra. N 12 Z- is . �1. i 13, Z:1 it ja is u 3:18 1. !i 5 Is Sit 4 is�c it v 12 I III a 13 3 zg z'Ic r 8 NO 11 k 11 i�; ri a1 a;r �k p! jig m�r i;-: 0 ic a z itj 9 is zi f t i I I ; I , I 1 I i i k i 2 5 st'o. it;3 6 J; I is Z t� t t�t is lv� uIVI "is im r"U;!w FS ts V 5;a 6; -1 8 FIRE PENSION FUND GROSS MONTHLY PENSION PAYMENTS FMCAL YEAR 2016-201 HTE ......... " 7-41-21 -19�W AXMUMS 72160MI9.11.21 Ch-ki.9 P.,nn- ------------- J-118 JU&.16 A-2-16 it 0.4-16 0-46 as.1 ifir2olo J-io I-- X A-17 F.1-17 Mu-17 47 STROKERHOAARP_--Maw 3 9WIS 3.965,39 _3 Gqk*-�_-3,96k,39 388 A -3985 N.. 3.1!g�w 11895 30m, 4.W4.3S 10,01 15390 300% 5 91 5.23agi SUNAGEL,. JAMES t 5 01 S,130LOI 30.01 S 1XIM 5,130.01 513001 --...6'430,01 $.130,01 . ...._..528]81-1 05M7114 75 167.Y3 5165.68 S.76SU ......... S,24370 S-Z4319 5,241,79 5 ......... 569715 - ilrM4 6.891.49 6091.40 680149 aSO1.4. 6.891,49 200767,0�6 --A-491AS -600119- 7.M.25 ALBERT 0502110 9.193.42 0.193,42 O.Ipkq. 0193.42 9.103.421 275,00 3 0% 9�46 12 9469,32 6�22 9.469.22 111113 2 .......... WU*LM FRANK S Sm 6-.q., 565062 588082 lftQ 300% 5.830.64 _583qd4_-_ SWC-64t, -_64 _Wsw ............. --------q-- --, -- ......�qjq _ 5,00292 ........S_Cq2,92 152,19 300% 5245.71 5.24511 616711 54 U64I,W Rtk- 41111,93iAll 418.931.4? 41 86] 416.092,015 1 414.00-85 416-IM112.1115 7 S24,96 1.81% 4,23617.41 23636.66 419A" 419496.]8 ------------ -------- DMASILI7Y-pury.11-1--.- JOHNSON S 1287l10 16033 261% 7092.92�7 W*1 .7092. 7082.83 A-91-zlo---------euv........ ...... kq 2,50 0.91Z59 ................. NORRIS ARRY 09AW3,125-56 ._._31 58-....M25.56. Sigso 912558 3,125.56 _3 jP_Sd...... 4935 1,58% 117491 3 3174-91, 82�2 1 88% a!- -, FREMRICK 3.95 .06 01-06 440185 4,401 O!L 4,40105 41�401.05 4,401.05 4401.04 57 _4 . 4, �j 4 M57 -9� 4AM ........:4,L _4 SCOTT R"� 3 3,MM 3 71MAM. 3789.$4....... 3,7841.64 8464 3,788,64 710. 188% $1 3 Wee 965988 _ 12jos30 403130 4031,30 4031.30 403130 4.03119 4,031.30 4�wlm 7703 191% 4,106,33 4,106.33 6 lazma 38 T�WS 21 STERM _4 03130 6.182.36 6.102.35 0162 M 11283 1800, 7,285.21 Sul,4otml Du!l DisabOi 28,441.62 29441.51 441. 28441¢52' 28441.82 481 441.32 ..4l..! 0 5.53% 30.014.62 30,(M462 3DM462 30.0% W(m ou 4d- RYAN LARRY 12/30M 4113,63 4.11153 4,11363 U"63 41203 411163 4,113 63 411363 7102 78% 4,`8665 4.186,65 4,18665 4,111665 TERNBERG 302351 51 3023 513023 5l3-D23-511 3,023:51 54 fi4 1.81X -_3_07615 3,07815 3,07815 3,X8 15 , r Ljub4eld Non G,�D 7137.14 7.137.14 7.137.14 7,137.14 73714 7,137.14 7.1137.14 1 7.137.14 127" 1.79% 7.2UM 7.264,W 7.264.00, 7.2".40 Ho -A 000% 4,34090 ,-QP-- _EMN MWMS 4L340.W 4,30.90 4,340.0 4.340.96 4.340.96 4,14,98 4310.98, 13$4.96 "SAN' LENA 3.381.16 3301." 000% 30125 31361 as 336195 WELLWERTS 017.1.0sm 9839.00 3"j0q. &WRL 3,0N.011 IWPL 3'.039,00 oxo% 3moo 3A"W 30.10,00......... k BARBEAM MEW) LAURA -A-17 4�372.50 446786 4.467,06 1 4.49.15 so 0 MAYER RENVIEG Z04S.84 _,_ZjK.b4 2,045.64 2,00.04 000% Z045AM 84 04S -1- 44SAL 20/5.26 MC CULL o9w10 42053 .._3.4 ...... 1112(k63 Z-CL- 420.53 -0§! 2.42D 53 C 00% 2.420M 2.420.53 2,42D.53 ..;,4;_063 .......2-4p�pr 2- .-12 53 Z MEYER 09114110 2TM48 .--Z736.48 -2-71-6-48 2,73848 ----------?7-*'4@.. --Z7-364kr -"'-'-2- 0,00,�, 2,736.41 2,736.40 ZTM.48 ROME TAMP 70WAr ...7000.20 7060. 7_000 7080.28 ------- 7,M25.........76 627).11 V.3-v3 - -s-v 61 7:L,#1 6273.61 "'27-161 a 273 00096 -- 6I 627361 49 .........0-_'7361 LANTZ 0342VIS- 3,-1L is 711A- 711,15 _ 3JI115 ------Atj�- 3,711,15 ----- 3.71115- ZGON14A oaoms 344211 3442.77 326271 3#271. 3,442.71 11,442,71 3,442.71 442 0,0091 3,44271,1 3441.71 3442.718 .71 SCHLR.Z __jSHlRLE 07/22M5 5,433,13 _._. 43413 5433 L S 5, 5433.13 000% ...____5433113:__5433,11... 5433,13 S433.14. -r-rr. 433.13 k%11_3_ I -- -------- 411.112169 4112169 41.12369 411323.69 4CUL64 4&4lW64 44,465.64 26,953.50 53� ........... lk"CIONKtALVORSIEN--- L" I I'We 48 1.528-48 1,5284 8,48 .5m 3 W% "574,34 1 1 .34 r-r r 11-574L34--L-1 574-l!t..... BELL '.005'19 3017 3,00%- tmwT 103& GWUELWO 1'005 1 r 1006 19 100519 9 '19 ................. ;036.30 1038.38 2 - =70 86.705".70 Z-06.70 2.S33.67 M.67 2 Laum LH3.67 21311" 2.w3i7- 76,03 3.0c TOTAL GROSS FIRE PENSM 494,473A7 "Cl 67.119 498 167.88 49&167-"1 4116.52115 r 4MM.92 498 690.82 46.66.02 St .43 1 512 601,44 512,661.0 t .......... .......... 494,473.17 495,1167A6 3 46.167. 1 48.167,1141 1 4".021,45 4ftM,82 41,111.1151IL79 49&6N.82 12,641AS I 512,26mvt�:�.M.1.4.