HomeMy WebLinkAboutPOLICE PENSION - 01/22/2008 - FU ND INVESTMENT/HELP/MEDICAL REPORT V 1y
Minutes of the
Elk Grove Village Police Pension Board Meeting
Held January 22, 2008
at 901 Wellington, Elk Grove Village, IL.
Myles Greenberg,
Secretary
President Ambrose called the meeting to order at 3:48 p.m. Present were Greenberg,
Krzywicki, Gaspari, Tromp, and Mary Tomanek of Smith Barney. Absent was Garr.
The minutes of the last meeting, October 23,2007 were read. A motion was made by
Krzywicki, seconded by Gaspari, to approve the minutes. Unanimous.
Tromp presented the Treasurer's Report, which included balance sheet dated November
2007, and disbursement register. A motion was made by Gaspari, seconded by
Krzywicki, to accept the Treasurer's Report. Unanimous.
Old Business
Tomanek presented an updated report on the status of the Funds investments. A motion
was made by Krzywicki, seconded by Gaspari, to move all assets out of
AllianceBernstein Large Growth into Fayez Large Cap Core. Unanimous.
A Special Meeting will be conducted on February 04, 2008 at 5:30 p.m. to discuss
alternative investment options.
The Board received the medical report from Dr. Rezak regarding disabled member
Schumert. Dr. Rezak indicates that Schumert continues to be disabled. This matter was
discussed, and Ambrose and Greenberg will contact Board attorney Reimer about it.
Tromp notified the Board that on November 07, 2007 that portability transfer of
creditable service was completed for former officer Michael Nash. Nash provided Tromp
the required $26, 976.00. Tromp then forwarded the required$60,158 to the Barrington-
Inverness Police Pension Fund.
The HELPS program was again discussed. Tromp indicated the Technical Corrections
bill has successfully passed one chamber of Congress, and it is pending in the other
chamber.
Now Business
The Board received notice from the Fire and Police Commission that Officer Brandi
Mathis completed her one-year probationary period July 03, 2007, and Officer Meredith
Heyland has completed her one-year probationary period November 20, 2007. Both were
appointed to the permanent position of Police Officer on the respective dates.
1'he Board received the following bills:
$312.50 for IPPFA, 8/08-12/08 for change to calendar year membership
$126.50 for atty Reimer re: Oct legal fees of$308.25 less$181.75 retainer applied
$1,020.00 for lir. Rezak re: medical evaluation of Officer Schumert
A motion was made by Krzywicki, seconded by Gaspari, to pay these bills. Unanimous.
(CONTINUED)
(January 22, 2008 continued)
The Board received a request for a refund of contributions from Officer Demetrios
Malamis, as a transfer to the Thrift Savings Plan. The distribution is as follows:
Date hired: July 02, 2006
Date resigned: April 16, 2007
Refund amount: $4029.44
Date of transfer: December.20, 2007
A motion was made by Gaspari, seconded by Krzywicki, to approve this refund.
Unanimous.
Ambrose announced the Pension Board elections would be held on Monday April 21,
2008. Ballots to be mailed to beneficiaries April 01, 2008, and a nomination list for
active members will be posted April 01, 2008. Nominations for active members to close
April 18, 2008 at 2:00 p.m. Ballots available on day of election 6:00 a.m. through 2:00
p.m. Ballots will be counted April 21, 2008 at 3:30 p.m.
Ambrose announced the next Board meeting will be April 21, 2008 at 3:30 p.m.
A motion to adjourn was made by Krzywicki, seconded by Gaspari. Unanimous.
Myles Greenberg, Secretary