HomeMy WebLinkAboutPOLICE PENSION - 04/16/2002 - Police Pension Minutes 1- 83
Minutes. of the meeting of the Elk Grove Village
Police Pension Board, held on April 16,. 2002 at
901 Wellington, Elk Grove Village, IL
Myles Greenberg,
Secretary
1-84
The meeting was called to order by:Vice President Lancaster at 3:40 p.m. . ' Present were
Greenberg, Garr, Roeske, Hilda INgebrgsten, and Mary Tomanek of Soloman Smith Barney.
Absent was Ambrose.'
The minutes of the last meeting, January 15, 2002, were read. Motion made by Garr,
secinded by Roeske to accept the minutes Unanimous
Hilda Ingebrigtsen presented Treasurers Report which included balance sheet dated
March 31, 2002 and disbursement register. Motion made by Garr, seconded by Roeske
to accept Treasurers Report. Unanimous.
Old Business
Hilda Ingebrigtsen corresponded with former Officer Guenther regarding his refund of
his contributions. Guenther has still not contacted the Finance Dept. to indicate
how he would` like his contributions returned to him., Hilda Ingebrigtsen will contact
Board attorney Reimer regarding the matter.
Mary Tomanek presented an updated report on the status of the Fund's investments. Motion made
by Garr, seconded by Roeske to transfer excess available cash up to $5,000,000.00 into
the 2-5 year duration segment, the 5-10 year duration segment, the 5-10 year duration
segment, and the 10-20 year duration segment as recommended by Tomaneks report. Unanimous
New Business
The Board received notice that Officer Capparelli resigned and desires to use Portability
to transfer her service time and pension contributions to Northlake Police Pension Fund.
Actuary Tim Sharpe provided an analysis of the, amount :required to be transferred out of
the Elk Grove Village Police Pension Fund into the Northlake Police Pension Fund. This
amount was found to be $22,881.00. Motion made by Garr, seconded by Roeske to approve
this transfer. Unanimous.
The Trustee election for the active members of the Board was not necessary due to only
two members, Sabo and Greenberg, interested in the two available positions. Sa'bi1�1._
"appa ntied'"by a0p. amat3a Msy'; $4`s 2QO •
The ballots for the Trustee' election for the beneficiaries were counted, with the .
following results:`
27 ballots
Bantner 9
:lraneY,asnerr!i�;�r._
( 1 ballot spoiled by voter)
Lancas�te = sf"el d ,4d" to` the Board.
The Board received notice from Sgt.Roeske that he will be retiring effective May 03, 2002,
and he also provided an application for retirement benefits. This will be forwarded to
the Finance Dept. for calculation of his benefits.
The Board received an application to enter. the Fund from newly hired Officer Matthew Skanberg;
hired April 01, 2002. Motion made by Garr, seconded by Roeske to accept Skanberg into
the Fund. Unanimous.
Lancaster announced the next Board meeting will be held May 14, 2002 at 3:30 p.m. at
901 Wellington, Elk Grove Village, IL.
Motion to adjourn the meeting made by Roeske, seconded by Garr. Unanimous.
Myles Greenberg,
Secretary