HomeMy WebLinkAboutFIRE PENSION - 08/05/2019 - Fire Pension Board MeetingMINUTES OF BOARD MEETING
ELK -GROVE FIRF I HTERS PFNSION FUND
August 5, 2 019
CALL TO ORDER
A meeting of the Elk Grove Firefighters Pension Fund was held on November 26, 2018 in
Conference roam "A" at Village Hall located at 901 Wellington Ave. Belpedio called the meeting to
order at 1.,31 PM,
ROLL CALL
The Following board members attended the meeting: Mike Belpedio, Benard Gass, Tire Sexton,
Rich Mikel, and Joe Hamilton. Also, in attendance were Christine Tromp, Brian Koehler, Kyle
Pochat, Chris Torres, Doug Oest of M arquette ?associates and Allison Barret and ivlicehie Rice of
Lauterbach and Amen.
MINUTES
?Minutes were submitted to arid reviewed by the board f -om the general hoard meeting dated
August 5, 2019.
A motion was made by Belpedio to accept the minutes From the August 5, 2019 Pension
Board Meeting. Hamilton seconded the motion. The motion passed unanimously.
REPORT OF INVESTMENTS
Doug Oest of Marquette Associates submitted to the board copies of the Elk Grove Village
Firefighters Aenyion Fund Executive Summary dated June 30, 2019 for explanation and revie3v.
In summary, the Total Fund had a return of 2,9% (net) for the quarter, underperforming the
policy benchmark returns of 3.1%, The Total Fund had a Year -to -Date return of 11- 2 % [net),
performing in line with the policy benchmark. The Total Fund market value as of June 30, 2019
was $80,734,020, Segall, Bryant & Hamill was fund on June 19, 2 019.
No act!ons recommernded or taken at this time.
TREASURER'S REPORT
Christine Tromp submitted a balance sheet, open investment listing and distribution register
dated June 30, 2019 and April 30, 2019 to the board. Tromp reviewed and explained the contents
to the board. The Fund total cash and investment balance as of June 30, 2019 was 81,575,8 5. No
benefit increases or decreases since last meeting. Trornp did receive a request for distribution
from FF Keith Yatsko.
A motion was made by Belpedio to accept the Treasurer's report. Hamilton sec-onded the
motion- The motion passed unanimously.
PAYMENT OF BILL
The fund received and paid the following bills:
Illinois Department o(Insurance $8,000.00
OLD BUSINESS
Semi-annual ex-ecutive session meeting approval - Approval of Executive Session minutes frorn
November 22, 2 018. Board mernbers had the opportunity to review the verbatim minutes
previous general board meeting. The board received further clarification on approval procedures
From board attorney.
A inotion was made to accept the executives ess i o n minutes from November 2 2, 2019 by
Belpedio. The motion was seconded by Hamilton. The motion passed unanimously.
Annual Training - Review of annual training requirements. Please submit any certificates to
Hamilton- No action taper,.
NEW BUSINESS
Application for Distribution - Hamilton stated that he was in receipt of an Application for
Distribution of Benefits for a regular retirement from active member Keith Yatsko. Yatsko began
his career with the Elk Drove V!IIage Fire Department on August 7, 1989 and will have served 30
years, 0 months and 10 days by his retiremea date of August 16, .019 at the rank of Pirefighter-
Yatsko's initial annual benefit is $76,214,67 effective August 17, 2019, with Isis first increase on
August 1.7, 2020- Yatsko is not married and has no dependents.
Belpedio made a motion to accept Keith Yatsko application for Distribution of Benefits —
regular retirement. Hamilton seconded the motion. The motion passed unanimously.
Review of services - The accounting Firm Lauterbach and Amen, LLP was invited to present to the
board their Publ is Services Administration (PSA) service- As part of the PSA service, Lauterbach
and Amen will provide preparation of meeting agendas andminutes: and schedule board
meetings. They will also maintain -electronic member files, administer elections and Prepare
annual affldavits to pensioners.
Lauterbach will also provide an electronic data management portal to access an archive of active
and current member files. This Portal will also house historical financial documents and will
supplement flies maintained by the Pension Fund, Lauterbach and Amen will also maintain cyber
and professional liability insurance and provide documentation of such -coverage upon request
For these services, Lauterbach and Amen, LLP will charge a one-time set up fee of $4,750,00.
Monthly services will be- milled on an annual basis at a rate of $19,200.00
The hoard discussed and deliberated the acceptance of the PSA services_
Belpedio moved to hold a roil call vote to accept and hire Lauterbach and Amen, LLP for
their Pub] is Services Administration services,
Belpedio
Yes
Hamilton
Yes
Sexton
Yes
Mike]
Yes
Goss
Yes
Kotice of Passing — The board received worts of the passing of FF Ronald J Freres. Ronald Freres
passed array on July 19, 2019 at the age of 77. Ronald Freres spent 35 years with the Department
as.a 1~ireFighterand as an inspector. Ron is survived by his kwife of 53 years, Bunny (nee Leahy)
Freres_ The Board has reached out to Funny Freres to update pension information.
No action needed.
Adiournment
8elpedio rnade a -notion to adjourn the meeting. Hamilton Seconded the motion. The motion
passed unanimously. The meeting was adjourned at 2.37 ?M.
The next regular meeting datewill he October 28th at 1.90 ISM in cartferenol� ruaM "A' at Charles
J. Zettek Municipal Center.
Resp&ctfully sub mitterd byy
Joe Hamilton
Secretary, Elk Grove Village Firefighters Pension Fund
1"C -% �Vcd 14 w ws74 ck�v��
VILLAGL OY ELK GROVE
vTATi=41F.NT OF PLAN' N'KT ASSETS
FIFE PENSIOVrRUS`I' F'L'ND
AS OF JUNE 30,201f
ASSETS
C'a_Sh and InvcsimenU
J.?. Mti Chasc
IfLsufBni ;
M. ctlif� [5rc Insurance
31-2M3 Ci ?m S353,000 amt b 92005 L9341
Principal US Propcns fund
U.S. dank Nlanagr..d AccvuntS:
U.9. Bank Mutual Fknd
gill Rryanl
C.S. McK c
Taal Cash and rnvestm mts
Prepaid expenses
AccrunLq R=iva$lc
Due From Cbmml Fund
hoGi-ued IntcTu3,t
TXal Reui wables
Total A=w
If1ABII.IT[1<S-.
Acaomms Pa}ablr
L3efemad Fropegy 'Cars
Due To C',enoml Fund
babililyA30 cr RaKfals
TOW 1 _iaWWC$
Net Asset# Held is Twat for PeASIGa Benefits
13ALANC E CAfNi(I SS) FARNFWUS FF:S
5i5,415
9.308,476
43X9,M
(222,010)
217,243 -
15,519.3
24OV3
(23,094) 6.926
14.932.128
2K.522
(15.W) 205
fr 81,575.$
273,295 _
178.297 .7,�z 1 _
S -
3 A1.575.925
flare: An rndepenikm wfiuuy rtp&v fbe f ndiv prr merge err of ,44ay 1. 2018_
57.4% fenfryage)
59 f+pro�rclel� wnie Credit;
REL.N,I.,FS-
rmp:rtp Taxcs
f 1ca6c 11 w Tax
InwNcRn tma=nul-PPkT
Interest Inoome
NUmbu Cornribuiions
TOTAL REVENUES
EXPENSES:
MONTii1-Y RFNFFIT PAY.MFN'TS:
Member Pcnsians
Surviving SpuuL< PcnsiOM
kmhility Pcnsk rex
Qi Idros
Se b-Tuuh
Aq;5=< 45401
Duns & Memberships
LA$4100U
C ester Dcnelapmenl
Awm
Pwkss ianal 4ervkcs
Aw 495(A0& 60&!
OfCSfi44xi� 4iAnao�rrtitn� FtM
Prv�cssiana[ene}emtnt Foes
A571 DO�i
Other Serb ices & Charges
Srb.Toa I
TOTAL EXPENSES
Reveorrs Cuter (1L mkr) Yx proses
VILLAGE OF ELK ORDVE
FLEVEN E AND EXPENSE REPORT
FIRE PENSIDN TRUST FUND
FOR PE RI OD YN DE D J UN E 50, 2019
A14NUAL
RUM YTQ +.
3,476,I75
7
I,786,$9b
Al' ��*,
3l°�e�Ri �
R
Q.OiIQ
1 rct Goof* #01.434
i3.08
�qfa
26� f
�1045M73
5,500,OW
-r/a
�s,oDa
r3�,o37
1C��v
10,982,505
2.482.666
23%
7,200,000
90#1M
124,ii01
86,M
iLU7
7.200., "
1,127,3 8 I fi° o-
80D
- 03'e
fr0,0OD
- 0'le
F�quity Mp+ugers IO,"
-
Q
NxW Income 50,000
7.221
14%
Compliance Pee 10-0(M)
9,00D
80%
135,900
15.'21
1 1 ,4
713 +5.8(H(1
1,1a2,589
1e' k
1,646,305
1,340,077
FIFE PENSION FUND
GROSS MONTHLY PENSION PAYMENT
FISCAL YEAR 2019-20 0 �
A4 AAUM .7210211-51-0721
BANOT
IBEGK
EENSON
R L.AC KALL E R
k LUMENTHAL
BOU LAN ER
BRAMMER
CAS SATA
CASTERTON
CLARK
UU AN
FALK
!DALE _
PATRI�,K
KAREN �
MARK �
RALPH_.
L EO
DOUGLAS
BR ET
THOMAS
_ WI LLIAM
RICHARD
ROBERT
8,237.80 6.23780
5.411.47 5.411.47
6.255.73 6.258.73
6,- 87 _38J 8.887.38
5.829.94 5,629.94
6.155.12 6.155.12
4.995.52 4.995 52
3.521.02 3.52102
7.233.87 7, 33 87
a.95D,,1 6,950.11
6,856_13 6,856.13
6.156.43 6,156.43
_ROE JAMES
ZRD'E
DAME
9.265.05
3,265.05
JOHN
JOHN
7.281.61
7.281.61
,FRERES
RONALD
3.812.83 _
3,812 83
!GARCHIE
-RICHARD
8.132.75
8.13275
GARIDNER
JOSEPH
4,220 03
4.22093
GAUSS
THOMAS
6, 1 ,6
6.431.16
OOSTR E E
DO U LAS
10,535.133
10.535.83
GOBS
_ BERNAR_D
7.483.21
7.453.21
GREEN
WEN
5.661.80
5,661.80
GUGLIELMD
I'JOHN
5,362.64
5.362_60
OUSTAVSEN
HANS
5,666.49
5.668.49
HALL
H OWAR D�T
5.015.49
5,019-49
HALVORSEN
RONALD
3,625,87
3,925 87
HANKO
JOHN
5.010.60
_ 5.01080
H4N E E LMAN
F RED
6.788.40
6,768_40
HARRIS
MICHAEL
7.842.88
7,842.88
HAVERLAND
PHILIP
6,447.77
6.447.77
HERRMANN
ROBERT
6.66826
6,6u 26
HOPKINS _ WILLIAM �
6.478.52 6,478-52
KEYWORTH
l IGNARD
6.803..31
6,803_03
KOPINSKI
LEONARD
5,506.01 _
5.596.01
KRIE ER
RICHARD
7.910.09
7.910 09
KUHN
DONALD
5,395.92
5.395.92
IACKMAN
MICHAEL 7,129.63
7,129-63
--6.478.52
LAMKA
RANIEL
6.47852
I.ANGLAND
DONALD
5.488.75
5,488_75
IMACAR7HUR
JAMU___T_-
10,439.44
10,439_44
MARSHALL
ROBERT �
6.239.32
6.230.32
MERGENS
JOHN
7,792.37
7,7$2.37
MIKENAS
ROBERT�
6.09610
6,096.10
MILLER
DAVID _
1 l.M4 47
11,344.47
MILLER
SCOTT
8.537 09
8.637.09
FIRE PENSION FUND.
GROSS MONTHLY PENSION PAYMENT
FISCAL- YEAR D 1 -2020
NC MUNIS' 7210211-510721
MORONY 'THOMAS
NEJEDLO KEVIN
NOVAK : LAWRENCE
Q OREK EDWARD
PASS,AGLIA PETER
PENN CARLA
Jury-19
Ma -19
_ 6,337.73 6.337.73
5,577.50 5,577.50
4.710 fig 4,710.69
7,533_02 � 7,533.02
6,26711 6.267.11
4,925_05 4,925.05
7,606.71
_
RI L KI N GTON
POPIELEWSKI
QUINLAN
I WI LLIAM —
THADDEUS
—7,506.71
6,053.81
5,053.81
OERALD
KE IN
ARTHUR
6.590-68
5.027.53
6,590.88
5,027.53
QUINN
BATH E
4.872.72
4.872.72
REID
WILLIAM
THIOMAS
6.478.52
3.169-58
_ 5,478.52
3.169.58
6,200.04
REINHARDT
RENNACK
CRAIG
6,200.04
RZESZUTKO
_
KENNETH
RANDALL
3.257.28
61788.40
7.980.26
3,257 28
6.788.40
CHLOTTMI'A 4
SELLERST'
WILLIAA+M
7,980.25
SINOEL
WAYNE
4.838.51
7,273.44
6,215.06
4.W8.51
7.273.44
6.2_75.06
STECK[ IROBERT
STPLLSON !MELVIN
SUNAGEL .JAMES
TOSTO _ IMIIC_HAEL
TURNER MICHAEL
VRSHEK ALBERT
IJ HEI-M PRANK
WISNIEWSKI `THOMAS
YAT KO �XEITH
_
5,6.05.70 5.605.70
6,116.81 6,116.81
7,MO1 52 7,530.52
10.045.90 10,04540
.18.5.73 6.18.5.73
5565.17 _ 5.565.17
Subtotal retirees
452P396.IT 452,396.17
D�SABiLITY-DUTY' .
JOHNS v ,J:AMES 7,463.58 7.453.5a
N O R R I S J ERRY 3,273.61 3,273.61
ROHRLR FREDERI K 4,648.61 4,648.61
OTT RANDALL _4.401.74,001.76
SPEEIDEN HARVEY 4,262.39 4,M.39
STERZEL OARY 7.666.16 7,666.15
SU440ul Duty Diisablll 31 3006.10
M WAO
BLSAWLITY-NON DUTY
RYAN LARRY
TERNSER0 RONALD
ZBIKCWSKI EDMLJND
4.332.69
3,187.43
4,332.69
3,187.43
4222,96
4222.96
Sub -total Non Duty Disabll
111I.-MAX
11 P743.01
FIRE PENSION FUND:
CROSS MONTHLY PENSION PAYMENTS
FISCAL YEAR 2019-20 0 ,
NC MUNIS. 7210211 10721
M -i$
Jun-19
SURVFVORS
BARBEAU (KEMkP)
4,372-54
4,372.50
AURA_
COLMAN
-
! BARBARA
4,467-86
4,467.86
RUIZ-DENNA
MIELISSA
8,210.45
8,210.45
HOGID
EILEEN
4,340-96
4,340.96
KRIESANT
LANTZ
MAYER
ADO CULM
MENAS
MEYER —
'ZI'7C' E
SCHULZ
STROKER _
WELLWERTS
LENA
_LINDA
-RENVEIO
DARLENE
LORNA
GERALDINE
CHARLENE
SHIRLEY _
PATRICIA
DIANE
3,361-95
3,711-15
2,445-34
2.420-53
6.273.61
2.736-48
7,0150.28
5.433-13
4,206-86
3,639.00
3.361.95
3,711.15
2,046.84
2.420.53
8.273.51
2.738.48
7.080.28
5.433.13
4.206.88
3,639,00
Sub -total Survivors
62,300A2
62,300,62
ILDROS
GUULIELMO
MARC ONI(HA_LVORSEN)
REINHARDT
BELINDA
LYNN
LESLIE
-
1,098-40
1,67-0-22
3.169.57
1.098.40
1.670.22
3.16957
Sub -total Qildros
5.939.19
5,938.19
,TOTAL GROSS FIRE PENSION
563,684.16
563.684.16
x�cv.,-asd 14v.�,,Fs -� o7Dr-9
VIL1L.A{;I~ OF ELK GRi VE
STATE.1ENT OF PLA NiET ASSETS
FIRE PENSION TRVST FUND
AS OFAPR1LA2019
WiFTS
Ca-sh and Inymunanui
J.P. Morgan Chase
lasuranct-
.tetlife Life Insaramm
MV03 Class $350,OW assl # '92005t9341
Prin6pal US Prcqcrt)' Fund
U.S. Bank ManaBccl Accounbq:
U.S. Hank .tulu,al Fund
MCD4mmll
C-S_ McKoc
Twal Cush and Int•cstmcnl.s
Prcp~aid expenses
Accounts Rmrivable
Due F:rum Crentrul land
ACCrurd IriCcresi
Total Ftectivables
ToLal Assebq
LIABII_ITIF-S=
Aunls Payable
UrfcrmJ PmTcr y Taxes
Duc To ('3cn sl F
t.itbi 1 it) -0zhct Benefits
1'nW t_iaw I i Cie$
flirt ,assets Held in Trust for Ftnslaa Beasflts
IIIA1_ANCi:i GAINf(LASS) FARNINGS
1,636.092
595,414 18,674
8r3O8.476 54 f,832
43,233,035 21295,057 879,457 6,395
13.215,660 300,902 342,393 33,123
14,49$.461 _ 267,653 360,377 3 k.907
$ 81.534,138 3,408,4" 1,599,401 71,425
loo
170,175
191.1i26
# 362, M
S 91,$ 234
L,6tt,441
5 I.6fr0,491
$ 80,235,748
NOle: An rrdePeR&"l o[rar-rrY `tPOfl lax- frr rrrg wr-tertr a as Of Way 1. 2018:
S? 4 eemr}. oge{
S9 8 fprv7ecL;ed vm1r cre&et
REVENUES,
Property Tixes
Elsctric Use Tax
ln[etgowcmnvmtal-PPRT
Intrxcst Income
M m bu Contributions
Othcr
TOTAL "VE NVES
F-X PENSFS:
W)NTHLY BENEFIT PAYMENTS:
Member Pension&
Survi+ing Spouse pcosions
Disabilify Pcnsioms
QWros
Sub-T•ocal
Acct 452020D
Office Supplies
Accl 040100
Ihhc:5 $ mcmbmhips
Cm= 0cwkVu cnt
5600M
Profe:sskoaI S-miccs
IngIwdcs quarwly pa}-mnts ro Maralu nc:
Jury 2018 S11,250
()ctA 2018 S11,230
lanvar} 2019 S11,250
&W VAM-1� 00LO1
Profcssional 37aj,agcment F ocs
Pmfcssirmal-Sanagcmmt Foes
Asg+#5.71 409
odd Swim & chugrs
A"rN 5 70500
Kefund-lMember Cm=ibutiaras
Sa�Toul
TOTAL EX PENS S
Re*4a1MelOva (Loder} f.IPtose-3
YILLACE OF ELK CROV
RF;VF.5i4'E AND EXPENSF REPORT
FIRE; PE NSION TRUST FUND
FOR PERIOD E.'N'DE;D APR]L 30, 2U19
A NUA.I.
B['DGle.T
3,361,w
3,246,756
97%
SU0.o00
373,411
115%
373,500
425,699
1114%
5,500,0{10
5,019,513
91%
645,004
859,542
102t/0
-
73
0%
10.590.100
10.124,054
96%
k725,000 5,384,847
689,524
481,405
66.797
6.72.5,000 6,622.573 49%
250 - 0%
- 79$ "o
5,000 1,392 28%
b5.W 48,392 74%
Equity Managen. 2000
6,395 32 0
Fixed Iacame 55,000
65,030 L 18%
Comph nce Fcc 111000
B.00U 90%
160,250 130.OB4 SI
6.885.250 6.752.577
3.694,850 3.371.477