HomeMy WebLinkAboutPOLICE PENSION - 01/11/2000 - Police Pension Minutes 9�
Minutes of the Elk Grove Village Police Pension Board
meeting held on January '11, 2000, at 901 Wellington,
Elk Grove Village, IL.
Myles Greenberg,
Secretary
97 .
The meeting was called to order by President Ambrose at 3:40
Lancaster, Vrchota, Greenberg, Hilda Ingebrigtsen, and Mary Tomanek ofeSal omonsentrSmithrBarney.
The minutes ,of the last meeting, October 12, 1999 were read. Motion made by Lancaster,
seconded by Vrchota,. to accept the minutes. Motion carried.
Hilda Ingebrigtsen presented Treasurers report which included balance sheet dated
November 30, 1999 and disbursement register. Motion made by Garr, seconded by, Lancaster to
accept Treasurers report. Motion carried.
Mary Tomanek presented an updated report on the status of the Funds investments. Motion
made by Ambrose, seconded by Garr to transfer assets not to exceed $4,000,000.00 from the
duration segments 0 thru 5, into duration segment 4. Motion carried.
Old Business
The Board received notice that Robert Arnold has voluntarily withdrawn his appeal to the
Appellate Court regarding the lawsuit he brought against the Board.
The Board received a correspondence from Dr. James Ryan clarifying his annual medical report
of disabled member Stone. This correspondence clarifies that Stone continues to remain
disabled.
New Business
The Board received a request for refund of contributions from Ofc Adam Kapfhamer.
Finance Dept provided the distribution information as follows: The
Date hired: October 15, 1990
Date resigned: August 9, 1998
Refund amount: $26,969.50
Date refund paid: November 301, 1999
Motion made by Vrchota, seconded by Ambrose to approve this payment. Motion carried.
The Board request for pension benefits from Ofc Anthony Cimino. The Finance Dept provided
the distribution information as follows:
Date of retirement: May 17, 1998
Effective date of pension: November 17,1999
Date of hire: April 10, 1978
Creditable service: 20 years, 0 months
Date of birth: November 17, 1949
Base salary at retirement: $50,202.00
Longevity adjustment: $300.00
Pension base: $50,502.00
Retirement base salary: $50,502 (50%)
Monthly benefit amount: $2104.25
Eligible for increase: December 01, 2004
Amount of increase: $3,787.65 (15%)
New monthly benefit amount: $2,419.89
The Board received the following bills:
P
$887.30 for Sept legal fees for atty Reimer re: Arnold and Celia ,
$394.35 for Oct legal fees for atty Reimer re: Arnold and Celia
$93.75 for Nov legal fees for atty Reimer re: Arnold
Motion made by Garr, seconded by Lancaster to pay these bills. Motion carried.
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Ambrose announced the Pension Board electionswillbe held on Monday, April 17, 2000. Ballots
to be mailed to beneficiaries April 01, 2000. Nominations closed for active members on
April 14, 2000 at 2:00 p.m. , ballots available on .day of election 6:00 a.m. thru 6:00 p.m.
Ballots for both elections will be counted on April 17, 2000 at 6:00 p.m.
i
Ambrose announced the next meeting will be held on April 11, 2000 at 3:30 p.m. at 901 Wellin tn !
Elk Grove Vlg, IL. Motion to adjourn by Garr, seconded by Lancaster. Motion carried. g