Loading...
HomeMy WebLinkAboutFIRE PENSION - 02/07/2011 - FIRE PENSION MINUTES MINUTES OF BOARD MEETING ELK GROVE FIREFIGHTER'S PENSION FUND February 7, 2011 CALL TO ORDER A meeting of the Firefighter's pension fund was held on February 7, 2011 in the Fire Department Administration Office 901 Wellington Avenue. President Brian McVeigh called the meeting to order at 7:00 PM. ROLL CALL On roll call the following members were present: Brian McVeigh,Mark Percudani, Bernard Goss and David Miller,also in attendance were Christine Tromp(Finance Director) and Mary Tomanek financial consultant to the pension board. Absent was Hilda Ingebrigtsen. MINUTES A motion was made by David Miller to accept the minutes of the November 1,2010 meeting. 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 recommended and David Miller made the motion to move$500,000.00 from Congress Large Growth and another$500,000.00 from Eaton Vance Large Value,into the Golden Small Core Value fund. This provides for an adjustment that will adjust the fund on the Large cap side of the fund. Mark Percudani seconded the motion. The motion passed unanimously. Mary also recommended and Brian made the motion to terminate the Pacific Income Fund transferring over the management of the assets to McDonnell to include Corporate and Government bonds in addition to Municipal bonds. Bernard Goss 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 David Miller to accept the Treasurers report. Mark Percudani seconded the motion. The motion passed unanimously. OLD BUSINESS Mark Percudani asked Brian McVeigh to look into when the Board would receive the transcripts from the hearing of Sterzel and Johnson, both awarded a Duty Related Disability as a result of the hearing held by this board on December 29, 2010. Brian stated that he would look into this matter and advise as to the outcome. David Miller stated that he would touch base with the Police and Fire commissioners' office about getting copies of the new hires physicians' physical exams for the pension files_David stated that he would report back to the board at our next meeting. Judy Keegan was contacted about being the Freedom of Information Officer for the Fire Pension fund, Judy stated that she would accept that position for this board. David Miller made the motion to appoint the Clerk of Elk Grove Village,Judy Keegan as the Fire Pension board freedom of information officer. Bernard Goss seconded the motion. The motion passed unanimously. NEW BUSINESS The pension board is in receipt of four applications for regular retirement pension,the applicants are John P. Guglielmo, Fred R. Hanselman, Edward W. Ogorek and William M. Reid. Gerald J. Quinlan retired filling out an application for a duty related disability and will be receiving pension payments until a hearing is held,Brian McVeigh stated that he is in receipt of two doctor reports at this time waiting for the third. Copies of three documents have been placed in the files of the above-mentioned retirees. These three documents show a history of the communications/language between the Village of Elk Grove Village,the Firefighters Union Local 2340 and the Illinois Department of Insurance pertaining to the salary of the above mentioned firefighters. Fred R. Hanselman has a salary of$83,244.00 at the time of retirement(November 17, 2010). Creditable service time of 30 years 0 months and 14 days was verified through the Finance and the Fire Chiefs office. Fred will receive an annual pension in the amount of $62,433.00 to include his longevity and paramedic pay equaling a monthly pension in the amount of$5,202.75 with his first increase taking place on December 1, 2011. Bernard Goss made the motion to accept the application for Regular Retirement pensions. David Miller seconded the motion. The motion passed unanimously. William M. Reid has a salary of$79,444.00 at the time of retirement(November 17, 2010). Creditable service time of 30 years 0 months and 14 days was verified through the Finance and the Fire Chiefs office. William will receive an annual pension in the amount of$59,583.00 to include his longevity pay equaling a monthly pension in the amount of $4,965.25 with his first increase taking place on December 1,2011. Bernard Goss made the motion to accept the application for Regular Retirement pensions. David Miller seconded the motion. The motion passed unanimously. Edward W. Ogorek has a salary of$92,375.00 at the time of retirement(November 18, 2010). Creditable service time of 30 years 0 month and 15 days was verified through the Finance and the Fire Chiefs office. Edward will receive an annual pension in the amount of$69,281.25 to include his longevity pay equaling a monthly pension in the amount of $5,773.44 with his fast increase taking place on December 1,2011. Mark Percudani made the motion to accept the application for Regular Retirement pensions. Dave Miller seconded the motion. The motion passed unanimously. John P. Guglielmo has a salary of$99,599.00 at the time of retirement(January 17, 2011). Creditable service time of 24 years 10 months and 8 days was verified through the Finance and the Fire Chiefs office. John will receive an annual pension in the amount of $61,834.35 to include his Lieutenant, longevity and paramedic pay equaling a monthly pension in the amount of$5,152.86 with his first increase taking place on January 1, 2016. Mark Percudani made the motion to accept the application for Regular Retirement pensions. Brian McVeigh seconded the motion. The motion passed unanimously. Gerald Quinlan has a salary of$83,244.00 at the time of retirement(January 23,2011). Creditable service time of 32 years 5 months and 3 days was verified through the Finance and the Fire Chiefs office. Gerald will receive an annual pension in the amount of $62,433.00 to include his longevity and paramedic pay equaling a monthly pension in the amount of$5,202.75 with his first increase taking place on February 1, 2012. It is noted that Gerald has applied for a duty related disability pension that is still in process at this time.Mark Percudani made the motion to make pension payment as a Regular Retirement pension at this time,noting that the amount paid to Gerald will not change if it is found that Gerald will be awarded a duty related disability pension. David Miller seconded the motion. The motion passed unanimously. Brian McVeigh and David Miller terms are due to expire on April 30,2011. David Miller will contact the Mayor's office in reference to the appointed position. Mark Percudani will 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. Mark Percudani received the Fire Pension Fund Annual statement on November 18, 2010.Mark stated that he placed the Statement in the pension file. ADJOURNMENT David Miller made a motion to adjourn the meeting.Bernard Goss seconded the motion. The motion passed unanimously. The meeting was adjourned at 8:05 p.m. The next meeting will be Monday May 2,2011 at 7:00 PM,at the Fire Department Administration Building. Respectfully submitted by: Mark W.Percudani, Sr. Secretary, Firefighter's Pension Fund