HomeMy WebLinkAboutPOLICE PENSION - 10/17/2017 - Police Pension Minutes MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES
ELK GROVE VILLAGE POLICE PENSION FUND
October 17,2017
The regular meeting of the Board of Trustees of the Elk Grove Village Police Pension Fund was held on
Tuesday,October 17,2017 at 3:30 pm at 901 Wellington Avenue,Elk Grove Village, Illinois,in Meeting
Room C.
CALL TO ORDER: President Christopher Torres called the meeting to order at 3:33 p,m.
ROLL CALL:
Present: President Christopher Torres,Assistant Secretary Warren Moody and Trustee Stephen
Schmidt(quorum present)
Absent: Vice President Allan Ambrose and Secretary Jason Gottwald
Also Present: Christine Tromp, Elk Grove Village Finance Department; Doug Oest, Marquette
Associates
APPROVAL OF MEETING MINUTES:
The Board reviewed the July 11, 2017 meeting minutes.A motion was made by Trustee Moody and
seconded by Trustee Schmidt to approve the meeting minutes as written. Motion carried unanimously by
voice vote.Trustee Ambrose and Trustee Gottwald were absent.
FINANCIAL ADVISOR'S REPORTANVESTMENT REVIEW:
Doug{lest from Marquette Associates provided the financial report.The Boards investments and
performance were discussed.The Total Fund had a return of 3.1%for the quarter, 10.6% for fiscal 2017.
There were no recommended changes at this time,and no actions taken
TREASURE'S REPORT:
Christine Tromp,presented the Treasure's Report.As of August 2017,the Village has received 93%of
property taxes allocated to the police pension fund.The treasurer's report reflected the Fund's net assets
at$81,827,142 and reflected the fund was 65.1 %funded as of May 1,2017, A vendor bill was incurred
on October 1,2017 in the amount of$11,250.00 for investment consulting services from Marquette
Associates.An expense was incurred on October 1, 2017 in the amount of$795.00 for membership dues
to Illinois Public Pension Fund Association.The reports were received and all questions were answered
by Ms. Tromp.A motion to accept the treasurer's reports, including the vendor checks, expenses and
pension benefits,was made by Trustee Schmidt and seconded by Trustee Moody.
AYES: Trustees Moody, Schmidt,Torres
NAYS: None
ABSENT: Trustee Ambrose and Trustee Gottwald
RETIREMENT APPLICATION:
The Board was notified that Officer Kristina Jedlink has resigned effective September 25,2017,and
Sergeant Randall Nelson was scheduled to retire on November 3,2017.An interim meeting of the Board
may be scheduled to process these two events.
TRAINING STATUS/UPDATES:
It was reported that Trustee Moody completed 6.5 hours of training on September 29,2017.
PUBLIC COMMENT:
None
MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES
ELK GROVE VILLAGE POLICE PENSION FUND
October 17,2017
With no further business to discuss,a motion to adjourn the meeting at 4:43 p.m.was made by Trustee
Moody,and seconded by Trustee Schmidt. Motion carried unanimously by voice vote,Trustee Ambrose
and Trustee Gottwald were absent.
The next regular meeting is scheduled for Tuesday,January 9,2017 at 3:30 pm.
Respectfully submitted,
Christopher Yorres, Board President Date Approved by Board —221 1-7
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Warren Moody, B r�'"ssistant Secretary
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