HomeMy WebLinkAboutPOLICE PENSION - 04/21/2008 - BOARD ELECTION/FUND'S INVESTMENTS REr.FIVED
MAY 16 2008
VILLAut UrItK'S OFFICE
Minutes of the
Elk Grove Village Police Pension Board Meeting
Held April 21, 2008
at 901 Wellington, Elk Grove Village, IL.
Myles Greenberg,
Secretary
Vice President Krzywicki called the meeting to order at 3:37 p.m. Present were Greenberg,Garr,Tromp,and Mary
Tomanek of Smith Barney. Ambrose arrived at 3:45 p.m. Gaspari was absent.
The minutes of the last meeting,January 22,2008 were read. Motion made by Garr,seconded by Greenberg,to
accept the minutes. Unanimous.
Tromp presented the Treasurer's Report,which included balance sheet dated February 2008,and disbursement
register. Motion made by Garr, seconded by Greenberg,to accept the Treasurer's Report. Unanimous.
Old Business
Tomanek presented an updated report on the status of the Fund's investments. A motion was made by Garr,seconded
by Krzywicki,to approve a merger of Allegiance Capital with Macquaire Funds. Unanimous. A motion was made by
Garr,seconded by Krzywicki,to replace Flippen Bruce Porter Large Values with Great Lakes Advisors. Unanimous.
A motion was made by Garr, seconded by Krzywicki,to move$2,000,000.00 to a defensive strategy portfolio as
outlined by Tomanek;by replacing Summit Advisors,and the remainder of money to come proportionately from
Large Cap managers. Unanimous.
Ambrose and Greenberg did not contact Board attorney Reimer regarding Schumert. They will attempt to do so.
New Business
The Board received an application to enter the Fund from newly hired Officer Miguel Mosqueda,hired December 31,
2007,and Officer Bryan Lyp,hired March 24,2008. A motion to approve both applications was made by Garr,
seconded by Greenberg. Unanimous.
There was no Board election required for the active members,as only two members,Greenberg and Torres,were
nominated for the two positions. Greenberg and Torres are appointed by acclamation. Similarly,there was no Board
election required for the beneficiaries,as only one member,Krzywicki,was nominated for the one position.
Krzywicki is appointed by acclamation.
The Board received a letter of retirement and request for pension benefits from Sergeant Anthony Konetzke,to
become effective April 27,2008. This was provided to the Finance Department,and Konetzke's distribution
information will be provided at the next meeting.
Ambrose announced the next Board meeting would be July 21,2008 at 3:30 p.m. at 901 Wellington,Elk Grove
Village.
A motion to adjourn the meeting was made by Garr,seconded by Greenberg. Unanimous.
Myles Greenberg,
Secretary