HomeMy WebLinkAboutPOLICE PENSION - 04/19/2010 - POLICE PENSION BOARD MINUTES i
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Minutes of the April 19,2010 Elk Grove Village Police Pension Board meeting.
President-Ambro le called the meeting to order at 3:30 p.m. Present were Greenberg, Krzywicki,Torres,
Garr,Tromp, and financial Advisor Mary Tomanek. Also present was Village attorney Knickerbocker,
Gary Parrin, and Flund members Kirkpatrick,Zinnel, Mason and Schmidt.
There was no Board election required for the active members,as only two members,Greenberg and i
Torres,were nominated for the two positions. Greenberg and Torres are appointed by acclamation.
Similarly,there was no Board election for the beneficiaries,as only one member, Krzywicki,was
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nominated for the one position. Krzywicki is appointed by acclamation. i
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The minutes of the last meeting, February 23, 2010,were read. A motion to approve the minutes was
made by Krzywic I seconded by Garr. Unanimous.
Tromp presented he Treasurer's Report,which included balance sheet dated March, 2010 and
disbursement register. A motion was made by Garr,seconded by Krzywicki,to approve the Treasurer's
Report. Unanimous.
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Old Business
Mary Tomanek prLIented an updated report on the status of the Fund's investments. A motion was
made by Garr,seconded by Krzywicki,to approve and adopt a new investment policy with corrected
language. Unani ous.
The Board discuss d the earl retirement incentive contained in the one year contract recent)
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approved by the Police Union. The Board was aware the Department of Insurance had been sent a
different contract than the one year contract recently approved by the Police Union,and that there was
a modification in the retirement incentive language in the one year contract in hopes of meeting with
Department of Insurance approval. Greenberg reported to the Board that Board attorney Reimer
advised the Board to pay retirement benefits under the present rates with no salary increase included,
without prejudice until such time that the Department of Insurance provides an opinion on the
language of the erly retirement incentive. If approved, increased retirement benefits could be paid
retroactively. Knickerbocker, however,felt those retiring should receive the increase for retirement
calculations immediately, and if the Department of Insurance opinion finds such an increase not proper
for retirement purlposes,the Village would seek corrected language to allow.for such an increase. The
Board will follow t e advice of Board attorney Reimer,and delay the inclusion of the'early retirement
incentive increase until it has an opinion about such an increase issued by the Department of Insurance.
Greenberg has been forwarding all documents relating to this issue to Mr. Reimer.
New Business
The Board received the medical report from Dr. Baron regarding disabled member Celia. Dr. Baron
indicates that Celia continues to remain disabled.
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April 19,2010 continued
The Board received notification that Bonita Jenkins passed away on February 15,2010. She had been
receiving a survivors pension,which will now be considered ended.
The Board receive a request for retirement benefits from Officer Richard Mason to be effective May
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15,2010. This was provided to the Finance Department for a benefit calculation.
The Board received a request for retirement benefits from Deputy Chief Dion Zinnel,to be effective June '
01,2010. This was provided to the Finance.Department for a benefit calculation. . '
The Board received the following bill:
$900.00 for Dr. Bron re: Celia evaluation
A motion was ma a by Greenberg,seconded by Garr,to pay this hill. Unanimous.
Ambrose announced the next Board meeting will be July 20,2010 at 3:30 p.m.at 901 Wellington, Elk.
Grove Village.
A motion was ma e by Garr, seconded by Krzywicki,to adjourn the meeting. Unanimous.
Myles Greenberg, .
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. ecretary ..
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