HomeMy WebLinkAboutPOLICE PENSION - 10/23/2012 - POLICE PENSION Minutes of the
Elk Grove Village Police Pension Board Meeting
Held July 17, 2012
at 901 Wellington, Elk Grove Village, IL.
Myles Greenberg,
Secretary
Minutes of the July 17, 2012 Elk Grove Village Police Pension Board meeting.
President Ambrose called the meeting to order at 3:33 p.m. Present were Greenberg, Partin, Tones,
Moody, Sandy Smalley, and Financial Advisor Tomanek.
The minutes of the last meeting, May 22, 2012 were read. A motion to approve the minutes was made by
Torres, seconded by Moody. Unanimous.
Smalley presented the Treasurer's Report, which included balance sheet dated April 2012, and
disbursement register. A motion to approve the Treasurer's Report was made by Partin, seconded by
Torres. Unanimous.
Old Business
Tomanek presented an updated report on the status of the Fund's investments. Tomanek will arrange a
meeting with a Financial Advisor from McDonnell investments to discuss increasing corporate bond
allocations. This meeting shall take place sometime in August, based on availability.
Greenberg reported to the Board that he spoke with a staff member from Dr. Obolsky's office regarding
the cost of a follow up annual evaluation for disabled member Celia. This cost was estimated to be
$3,500.00. Based on this estimate, all Board members agreed Celia should return to see Dr. Obolsky.
Greenberg will contact attorney Reimer to see if medical releases are required from Celia, and who
should schedule the appointment.
The cost of required Trustee training was discussed, and a motion was made by Torres, seconded by
Partin, to allow Trustees to schedule and attend training seminars and classes without having prior Board
approval; provided the cost of the training is $1,000.00 or less. Unanimous.
New Business
The Board received a notice from the Village that Garry Partin was appointed to the Board for another
two year term, effective May 01, 2012.
The Board received the applications and requests to enter the Fund from newly hired police officers
Gregory Jones, David Johnson, and Daniel Doherty, hired July 02, 2012. A motion was made by Partin,
seconded by Moody, to accept them into the Fund. Unanimous.
The Board received the following bills:
$8,000.00 for Department of Insurance Compliance Fee
$87.50 for attorney Reimer re: May legal fees
A motion was made by Torres, seconded by Moody, to pay these bills. Unanimous.
A motion was made by Partin, seconded by Greenberg, to elect the following Board members to the listed
offices: President-Ambrose, Vice President-Torres, Secretary-Greenberg, Assistant Secretary-Moody,
and Trustee-Parrin. Unanimous.
Ambrose announced the next Board meeting will be October 23,.2012, 3:30 p.m. at 901 Wellington. A
motion to adjourn the meeting was made by Moody, seconded by Torres. Unanimous.
Myles Greenberg,
Secreta oIice Pe sion 136ard