HomeMy WebLinkAboutPOLICE PENSION - 01/13/2015 - POLICE PENSION MINUTESElk Grove Village Police Pension Board
January 13th, 2015 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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The regular meeting was called to order at 3:38 PM by President Ambrose. Present were Trustee
Gottwald, Trustee Moody, Trustee Torres, Christine Tromp from the Elk Grove Village Finance
Department, and Doug Oest from Marquette Associates. Elk Grove Village Police Department Deputy
Chief Charles Walsh was in the audience. No other members of the public were present. Trustee Parin
was absent. A quorum was present.
The minutes of the last meeting, October 15th, 2014, were read. A motion to approve the minutes of the
last meeting was made by Trustee Moody, Second by Trustee Torres. Aye to approve: Moody, Gottwald,
Torres, and Ambrose. Motion carried.
The financial advisor Doug Oest from Marquette Associates provided the financial report. The Board’s
investments and performance were discussed (up 2.1% for quarter). Oest gave his perspective on the
effect of an interest rate rise on the economy and fund. No changes were recommended at this time, and
no action was taken.
The next meeting date was scheduled for Tuesday, April 14th, 2014 at 3:30PM at 901 Wellington Ave,
Elk Grove Village, IL.
The treasurer’s report was presented by Christine Tromp. As of November 2014, the Village has
recorded $1,031,489 in revenue for the police pension portion of the electric tax for the fiscal year. A
motion to approve the treasurer’s report was made by Trustee Gottwald, Second by Trustee Moody. Aye
to approve: Moody, Gottwald, Ambrose and Torres. Motion carried.
The board was also made aware of the retirement of Ofc. Thomas Froelich. Ofc. Froelich will receive
$3,308.50 as a prorated first month, with a monthly pension of $4,661.98. Annual pension amount will
total $55,943.73. A motion to accept Ofc. Froelich’s application for pension disbursement was made by
Moody, Second by Gottwald. Aye to approve: Moody, Gottwald, Ambrose and Torres. Motion carried.
President Ambrose sent a letter to the Elk Grove Village Board requesting an annual tax levy based on the
actuarial evaluation of Timothy Sharpe for the upcoming tax year. The Police Pension Board has
requested the amount of $2,222,356 to satisfy the requirements of the Police Pension Fund for the
upcoming tax year.
The Board has received the Illinois Secretary of State to file an Application for Authority to Dispose of
Local Records. This record was added to the permanent files.
Applications were received from newly hired Probationary Police Officers – Ofc. Eric Moore, Ofc.
Michael Machnik, Ofc. Joshua Swoboda, Ofc. David Irving and Ofc. Chris Palmese. Motion to accept
the new hires into the fund was made by Torres. Second was Moody. Aye to approve: Moody, Gottwald,
Ambrose and Torres. Motion carried.
The Board was recently contacted by a retired office in regard to Illinois Retired Officer Concealed Carry.
In a previous form, IROCC requested a signature from a pension trustee or department head. Changes in
the form now request a certification under penalty of perjury, that the officer, amongst other things
separated the department in good standing. A discussion was held amongst the board members and DC
Walsh. It was determined that further review would be done and that this issue would be tabled until the
next meeting.
The following expenses were presented:
Elk Grove Village Police Pension Board
January 13th, 2015 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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A $9.22 charge was incurred for postage on 10/16/2014 to send the order for disability to Ofc.
Sabo USPS certified mail, and a copy mailed to legal counsel.
A $6.45 expense was incurred on10/16/2014 to Miller Industrial for new keys to the permanent
records cabinet at the Police Department.
A motion to pay expenses was made by Moody. Second by Gottwald. Aye to approve: Moody,
Gottwald, Ambrose and Torres. Motion carried.
There was no comment from the public.
A motion to adjourn was made at 4:30 PM by Ambrose, Second by Moody. Aye to approve: Moody,
Gottwald, Ambrose and Torres. Motion carried. Meeting adjourned.
Christopher Torres
Secretary, Elk Grove Village Police Pension Board