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Minutes of the December 10, 2013 Elk Grove Village Police Pension Board Special
Meeting.
The meeting was called to order at 3:33 p.m. by President Ambrose. Present were
Greenberg, Parrin, Torres, Moody, Tromp, and Financial Advisors Doug Oest and Luke
Meyer of Marquette Associates.
The minutes of the last meeting, October 22, 2013 were read. Parrin made a motion,
seconded by Torres, to approve the minutes. Unanimous.
Old Business
Oest and Meyer presented a report to the Board reviewing the Fund's investments and
including recommendations. Of these recommendations, Parrin made a motion, seconded
by Torres, to concur with the recommendation that the Fund's assets should be allocated
as described in Portfolio Option D. Unanimous. Also, Parrin made a motion, seconded
by Torres, to concur with the recommendation that the Fund invest 10% of its allocated
assets in the Core Portfolio of the Principal U.S. Property Funds for Real Estate in
following the recommended allocation of Portfolio D. Unanimous.
Greenberg reported the status of the Keith Briggs matter as follows: At the September
23, 2013 hearing Briggs' attorney Dana Kurtz stated she would prepare a position
statement and forwarded it to attorney Reimer, which would then be forwarded to the
Department of Insurance for an Advisory Opinion. On November 06, 2013 after
receiving no correspondence from attorney Kurtz, attorney Reimer wrote her a letter
requesting the document. On December 09, 2013 after receiving no correspondence from
attorney Kurtz, attorney Reimer sent her an e-mail again requesting the document. She
replied to attorney Reimer via e-mail that she would respond to him the following week.
New Business
Torres reported that Officer Berens is currently taking unpaid Family Leave, and is
expected to take 20 working days of this leave. Torres inquired directly to the
Department of Insurance about this, and indicated Berens will need to contribute to the
Fund what his regular contributions would have been had he been working and paid his
salary during the 20 days. The Finance Department will calculate the required
contribution once Berens Family Leave is completed and he has returned to work.
Newly hired Officer Michael Stadler, hired September 23, 2013 resigned on October 18,
2013, and requested a refund of his contributions. The Finance Department calculated
the refund amount to be $443.11. A motion was made by Greenberg, seconded by
Moody, to pay this refund. Unanimous.
Officer Sabo submitted an application for disability benefits to the Board; however before
it was forwarded to attorney Reimer, Officer Sabo contacted Greenberg indicating his
treating physician had released him to return to full duty. Greenberg spoke to Deputy
Chief Nowacki about Sabo's return to duty and learned the Village will be sending Sabo
(continued)
(December 10, 2013 continued)
to another physician for a second opinion before he is returned to duty. Attorney Reimer
requested the application be forwarded to him to obtain medical releases and be as
prepared as possible to continue with the application if the second opinion does not
support a return to duty. The application was then forwarded to attorney Reimer.
Torres completed 8 hours of required trustee training through on-line courses from the
American Institute of CPA's, which included Business Law, Dealing with the IRS,
Frequent Government and NPO Frauds: Misuse of Assets, 2013 Governmental and
Nonprofit Update, Ethics, and Frequent Government and NPO Frauds: Misappropriation
of Benefits.
The Board received the application and request to enter the Fund from newly hired
Officer Timothy Hain, hired September 23, 2013. A motion was made by Torres,
seconded by Moody, to accept him into the Fund. Unanimous.
The Board received the following bills:
$127.85 for a new Minutes Book
$175.00 for attorney Reimer for October legal fees
A motion to pay both bills was made by Parrin, seconded by Moody. Unanimous.
Ambrose declared the next Board meeting shall be January 14, 2014 at 901 Wellington.
A motion to adjourn the meeting was made by Ambrose, seconded by Parrin.
Unanimous.
Myles Greenberg,
Secretary, Police Pension Board