HomeMy WebLinkAboutPOLICE PENSION - 04/11/2017 - Police Pension meeting Elk Grove Village Police Pension Board
April 11, 2017 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
The regular meeting was called to order at 3:34 PM by President Torres. Also present were Trustee
Gottwald,Trustee Moody,Trustee Schmidt,Christine Tromp from the Elk Grove Village Finance
Department,Doug Oest from Marquette Associates, Police Chief Charles Walsh and Deputy Chief
Michael Gaspari,Trustee Ambrose was absent. A quorum was present.
The minutes of the last meeting,January 10"', 2017,were read, A motion to approve the minutes of the
last meeting was made by Trustee Moody, Second by Trustee Gottwald. Ave to approve:Moody,
Gottwald, Schmidt and Torres. Motion carried.
Trustee Ambrose arrived at 3:58 PM.
The financial advisor Doug Oest from Marquette Associates provided the financial report. The Board's
investments and perfon-nance were discussed(up 3.9%for quarter and 9.3%for the fiscal year).Oest
discussed Marquette Associates commitment to presenting the Board with financial information and
ensured the fund will continue to be positioned in a financially responsible manner. No changes were
recommended at this time.No action was taken.
The next regular meeting date was scheduled for Tuesday,July I Ith, 2017 at 3:30PM at 901 Wellington
Ave, Elk Grove Village, IL.
The treasureCs report was presented by Christine Tromp. As of Februan,2015,the Village has recorded
S 1,532,809 in revenue for the police pension portion of the electric tax for the fiscal year.The Board was
made aware of the passing of retired Police Officer John Walters. He passed on April 8,2017.The Board
expressed their sympathies. A motion to approve the treasurer's report was made by Trustee Torres,
Second by Trustee Moody. Ave to approve: Moody, Gottwald, Ambrose and Torres. Motion carried.
The Board had no additional information on a record keeping firm at this time. The topic was tabled for a
later time.
'rhe Board received the resignation of Officer Roger Hendrickson, effective January 27,2017. At this
time.lie has not requested a refund of contributions.No action was taken.
The Board received the resignation of Officer Mickelson, effective March 2,2017, At this time,he has
not requested a refund of contributions. No action was taken.
Trustee Moody completed 8 hours of training on Continuing Pension Fund Trustee Education on
02/16/17.
The following expenses were presented:
An $11,250.00 expense was incurred on 04/01/2017 for Investment Consulting Services to
Marquette Associates.
A $415.00 expense was incurred on 04/06/2017 for Trustee Torres' registration for the upcoming
Pension Conference.
Elk Grove Village Police Pension Board
April 11, 2017 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
A $175.00 expense was incurred on 02/01/2017 for Trustee Moody's registration for the IPPFA
Seminar held on 02/16/2017.
A motion to pay expenses was made by Trustee Moody,a second by Trustee Schmidt. Aye to approve:
Ambrose, Gottwald, Moody, Schmidt and Torres. Motion carried.
Public Comment: Police Chief Walsh thanked the Board for their services.
A motion to actiourn was made at 4:39 PM by Trustee Moody,a second by Trustee Schmidt. Aye to
approve: Ambrose,Gottwald, Moody, Schmidt and Torres. Motion carried. Meeting adjoumed.
Jason Gottwald
Secretary- Elk Grove Village Police Pension Board
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