HomeMy WebLinkAboutPOLICE PENSION - 04/26/2011 - POLICE PENSION MINUTES ' Minutes of the
Elk Grove Village Police Pension Board Meeting
Held April 26, 2011
at 901 Wellington, Elk Grove Village, IL.
Myles Greenberg,
Secretary
RECEIVE ®
MAY 3 2011
Minutes of the April 26, 2011 Elk Grove Village Police Pension Board mecting.
VILLAGE CLERK'S OFFICE
President Ambrose called the meeting to order at 3:32 p.m. Present were Greenberg, Krzywicki, Torres,
Perkins, Schmidt, Assistant Director of Finance Smalley, and Mary Tomanek, Absent was Parrin.
r
The minutes ofthe last meeting, February 15,201 1 were read. A motion to approve the minutes was
made by Torres, seconded by Krzywicki. Unanimous.
Smalley presented the Treasurer's Report, which included balance sheet dated March 2011, and
disbursement register. A motion to approve the Treasurer's Report was made by Torres, seconded by
Krzywicki. Unanimous.
Old Business
Mary Tomanck presented an updated report on the status ofthe Fund's investments. In order to balance
the 45% equity limitation, a motion was made by Greenberg, seconded by Krzywicki, to move
$520,000.00 out of PImCO Total Return, and into McDonnell Investments. Unanimous.
Both Torres and Greenberg spoke to Mr. Kenton Manning of the Illinois Retired Officer Concealed Carry
program regarding Craig Celia's request to alter and approve the verification application form. It was
learned that the minimum required service time prior to disability to be eligible for Concealed Carry is 10
years. Since Celia had 9 years,'3 months 18 days service belore disability, he was not eligible and thus
the Board would not consider his request.
A hearing date for Craig CClia to update the Board on his medical status and fitness for duly was set for
May 03,2011.
New Business
Vile Board received a letter of retirement and request for benefits 11`0111 Officer Warren Moody. The
Finance Department provided the distribution information as follows:
Date of birth: November 03, 1956
Date of hire: January 02, 1981
Date of retirement: May 02, 2011
Date of pension: May 03, 2011
Creditable service: 30 years, 4 months, I day
Original rale of pension: 75%
Salary: $82,753.91
Original pension amOmlt $62,065.43
Original monthly benefit: $5,172.12
First month prorated amount $4,838.43
Eligible lex increase: June 01, 2012
A motion was made by Torres, seconded by Krzywicki, to approve this distribution. Unanimous.
The Board received the following bill:
$681.26 for attorney Reimcr re: February Icgal I'ecs
A motion was made by Krrywicki, seconded by Torres, to pay this bill. Unanimous.
Ambrose announced the nest Board meeting will be July 19, 2011 at 130 p.m. at 901 Wellington.
A motion to adjourn the mecting was made by Greenberg, seconded by Krzywicki. Unanimous.
My1'es Greenberg, Secretary