HomeMy WebLinkAboutPOLICE PENSION - 04/24/2012 - POLICE PENSION BOARD Minutes of the April 24, 2012 Elk Grove Village Police Pension Board meeting.
President Ambrose called the meting to order at 3:30 p.m. Present were Greenberg,
Krzywicki, Torres, Moody, Asst. Dir. of Finance Smalley, and Financial Advisor
Tomanek. Absent was Parrin.
The minutes of the last meeting, December 20, 2011 were read. A motion to approve the
minutes was made by Krzywicki, seconded by Torres. Unanimous.
Smalley presented the Treasurer's Report, which included balance sheet dated March
2012, and disbursement register. A motion to approve the Treasurer's Report was made
by Torres, seconded by Krzywicki. Unanimous.
Old Business
Tomanek presented an updated report on the status of the Fund's investments.
A motion was made by Greenberg, seconded by Torres, to change the target percentages
of the"other" category of assets, which combine for 25% of the Fund's equity
investments, to the following targets: Global-5%, Natural Resources-4%, Real Estate-0%,
Defensive-10%, Emerging Markets-3%, and High Yield-2%. Unanimous.
A motion was made by Krzywicki, seconded by Torres, to transfer $200,000.00 from
each of Diamond Hill, Calamos, and Gateway into Fayez; and also transfer $600,000.00
from Blackrock Global to Vertis Emerging Markets. Unanimous.
The Board will take no action on which doctor(s) Craig Celia should see for his next
annual evaluation until the full Board is present. The Board will schedule a special
meeting sometime in May for this purpose and other business that may arise.
Smalley indicated she would check with the Village Administration about being in
compliance with the Department of Insurance audit for the annual Board request of the
property tax levy for the Fund, so the Board can communicate with and properly request
of the Village for this levy.
New Business
There was no Board election required for the active members, as only 2 members,
Greenberg and Torres, were nominated for the two positions. Greenberg and Torres are
appointed by acclamation. There was a Board election for the beneficiaries, with the
following results:
Moody-22
Kirkpatrick-11
Romme-9
Mack-1
Krzywicki-1 (write-in)
Moody is elected to the Board.
(continued)
(April 24, 2012 continued)
The Board received applications and requests to enter the Fund from newly hired police
officers Anthony Mazzuca and Justin Wedekind, hired March 26, 2012. A motion was
made by Greenberg, seconded by Krzywicki, to accept them into the Fund. Unanimous.
The Board received the following bills for 8 hours of Greenberg's 16 hours of required
Trustee Training: $125.00 registration/tuition for IPPFA/NIU, and $18.10 lunch and
mileage. A motion to approve these bills was made by Krzywicki, seconded by Torres.
Unanimous.
Ambrose announced the next regular Board meeting will be July 17, 2012, 3:30 p.m. at
901 Wellington. A motion to adjourn was made by Greenberg, seconded by Krzywicki.
Unanimous.
Myles Greenberg,
i n
Secret ry,,,/Police Pension Board