HomeMy WebLinkAboutPOLICE PENSION - 10/13/2015 - POLICE PENSION MINUTESElk Grove Village Police Pension Board
October 13, 2015 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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The regular meeting was called to order at 3:30 PM by Vice President Ambrose. Present were Trustee
Gottwald, Trustee Moody, Trustee Parrin, Christine Tromp from the Elk Grove Village Finance
Department, and Doug Oest from Marquette Associates. No members of the public were present. Trustee
Torres was absent. A quorum was present.
The minutes of the last meeting, July 14th, 2015, were read. A motion to approve the minutes of the last
meeting was made by Trustee Moody, second by Trustee Gottwald. Aye to approve: Ambrose, Gottwald,
Moody and Parrin. Motion carried.
The financial advisor Doug Oest from Marquette Associates provided the financial report. The Board’s
investments and performance were discussed (down 3.8% for the quarter). Oest expected volatility in the
Fixed Income Fund over the next quarter, but suggested that no portfolio rebalancing was needed at this
time. A copy of Addendum E – GASB Statement 67 was presented to the board for adoption into the
investment guidelines. No other changes were recommended at this time. A motion to incorporate
Addendum E – GASB Statement 67 into the investment policy was made by Trustee Moody, second by
Trustee Gottwald. Aye to approve: Ambrose, Gottwald, Moody and Parrin. Motion carried.
The next regular meeting date was scheduled for Tuesday, January 12th, 2016 at 3:30PM at 901
Wellington Ave, Elk Grove Village, IL.
The treasurer’s report was presented by Christine Tromp. As of August 2015, the Village has recorded
$490,823 in revenue for the police pension portion of the electric tax for the fiscal year. Christine Tromp
indicated the village needed more information from the Actuary to complete the actuarial report. A
motion to approve the treasurer’s report was made by Trustee Parrin, second by Trustee Moody. Aye to
approve: Ambrose, Gottwald, Moody and Parrin. Motion carried.
Applications were received from newly hired Probationary Police Officers – Ofc. Eric Guzik, Ofc.
Anatoli Mironov and Ofc. Amy Petrouski. Motion to accept the new hires into the fund was made by
Trustee Parrin, second by Trustee Moody. Aye to approve: Ambrose, Gottwald, Moody and Parrin.
Motion carried.
Trustee Moody, Trustee Gottwald and Trustee Torres completed 8 hours each of training for Retirement
Coordinator on 09/24/15.
Trustee Gottwald completed 4 hours of training on Pension Fund Trustee Certification on 10/01/15.
The following expenses were presented:
A bill dated 10/01/2015 in the amount of $11,250.00 was received from Marquette Associates
for Investment Consulting Services.
A bill dated 08/09/2015 in the amount of $179.50 was received from Reimer, Dobrovolny &
Karlson LLC for services regarding the review of Dr. Tuder’s annual medical report of former
Police Officer Carl Sabo.
A bill dated 09/11/2015 in the amount of $398.25 was received from Reimer, Dobrovolny &
Karlson LLC for services regarding Sgt. Randy Nelson’s Quildro.
Elk Grove Village Police Pension Board
October 13, 2015 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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An invoice was received from the Illinois Public Pension Fund Association in the amount of
$795.00 for 2016 Annual Membership Dues.
A receipt in the amount of $150.00 was submitted for reimbursement by Trustee Moody for
registration fees for his training class on 9/24/15.
A receipt in the amount of $150.00 was submitted for reimbursement by Trustee Torres for
registration fees for his training class on 9/24/15.
A motion to pay expenses was made by Trustee Ambrose, a second by Trustee Moody. Aye to approve:
Ambrose, Gottwald, Moody and Parrin. Motion carried.
There was no comment from the public.
A motion to adjourn was made at 3:57 PM by Vice President Ambrose, a second by Trustee Parrin. Aye
to approve: Ambrose, Gottwald, Moody and Parrin. Motion carried. Meeting adjourned.
Jason Gottwald
Secretary, Elk Grove Village Police Pension Board