HomeMy WebLinkAboutPOLICE PENSION - 04/16/2013 - POLICE PENSION MIUTES Minutes of the April 16, 2013 Elk Grove Village Police Pension Board meeting.
The meeting was called to order at 3:35 p.m. by President Ambrose. Present were
Greenberg, Moody, Torres, Tromp and Financial Advisor Tomanek. Absent was Parrin.
The minutes of the last meeting, January 29, 2013 were read. A motion was made by
Torres to approve the minutes, seconded by Moody. Unanimous.
Tromp presented the Treasurer's Report, which included balance sheet dated March 30,
2013 and disbursement register. A motion was made by Moody to approve the
Treasurer's Report, seconded by Torres. Unanimous.
Old Business
Tomanek presented an updated report on the status of the Fund's investments. Based on
Tomanek's recommendation, a motion was made by Moody, seconded by Tones, to
transfer $1,100,000.00 from McDonnell Fixed Income to Jackson National Life Annuity,
with the following allocation: $500,000.00 JNL Invesco Global Real Estate, $300,000.00
JNL Templeton Small Cap Value, and$300,000.00 JNL Eagle Small Cap Equity
(Value); with Tomanek and Tromp to identify the annuitant from among the Fund's
beneficiaries. Unanimous.
New Business
Ambrose and Tromp indicated they will send out notices to Financial Consultants for
proposals as required under Public Act 95-950, due by August 2013.
A motion was made by Moody to authorize actuary Tim Sharpe to update the Fund's
asset liability analysis when he is preparing his Actuarial Report for the Fund, seconded
by Torres. Unanimous.
The Board received the application and request to enter the Fund from newly hired
officer Kevin Wsol,hired April 01, 2013. A motion was made by Moody to accept him
into the Fund, seconded by Torres. Unanimous.
The Board received the following bill: $178.60 for attorney Reimer for December legal
fees. Motion made to pay this bill by Greenberg, seconded by Moody. Unanimous.
Torres indicated he completed his required trustee training, some of it video training, and
will provide specifics on the video training by the next meeting.
Ambrose declared the next Board meeting will be July 16, 2013, 3:30 p.m. at 901
Wellington, Elk Grove Village. A motion to adjourn the meeting was made by Moody,
seconded by Torres. Unanimous.
Myles Greenber ,
Secretary, olice Pension Board