HomeMy WebLinkAboutPOLICE PENSION - 07/07/2014 - POLICE PENSION MINUTESElk Grove Village Police Pension Board
July 7th, 2014 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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The regular meeting was called to order at 3:25 PM by President Ambrose. Present were Trustee
Ambrose, Trustee Torres, Trustee Moody, Trustee Parrin, Trustee Gottwald, Christine Tromp from the
Elk Grove Village Finance Department, and Doug Oest from Marquette Associates. No members of the
public were in the audience. A quorum was present. Minutes for the disability hearing which was
previously held at 1:00 PM were taken by court reporter.
The minutes of the last meeting, April 8th, 2014, were read. A motion to approve the minutes of the last
meeting was made by Trustee Moody, Second by Trustee Torres. Aye to approve: Unanimous. Motion
carried.
The financial advisor from Marquette Associates provided the financial report. The Board’s investments
and performance were discussed (up 3% for quarter, 4.5% for YTD), as well as an update on the
economy. Policy updates will be presented at the next meeting. No action items were needed with
respect to investments
The next meeting date was scheduled for October 14th, 2014 at 3:30PM at 901 Wellington Ave, Elk
Grove Village, IL.
The treasurer’s report was presented by Christine Tromp. The Village has budgeted $1.6 million in
expected revenue for the police pension portion of the electric tax for the new fiscal year. A motion to
approve the treasurer’s report was made by Trustee Parrin, second by Trustee Gottwald. Aye to approve:
Unanimous. Motion carried.
Former Officer G. Jones submitted a request for a refund of contributions in the amount of $10,614.68 to
be directly transferred to a designated qualified retirement plan. A motion to approve the refund was
made by Trustee Parrin, Second by Trustee Gottwald. Aye to approve: Unanimous. Motion carried.
With regard to the status of Ret. Commander Briggs with the Illinois Department of Insurance and IRS,
no further action will be taken following the resignation Ret. Commander Briggs from his civilian
position effective 5/14/2014.
Police Pension Board elections were held. Inv. Christopher Torres and Inv. Jason Gottwald were elected
to the position of trustee for two year terms. Board officer position selections were deferred until next
meeting.
The Board has been in contact with the Illinois Secretary of State to file an Application for Authority to
Dispose of Local Records. The Board will be working to file the required paperwork.
The following bills from Reimer & Karlson were presented:
A bill from Reimer & Karlson dated 4/21/2014 in the amount of $760.07 was received for legal
services rendered.
A bill from Reimer & Karlson dated 5/21/2014 in the amount of $375.09 was received for legal
services rendered.
A bill from Reimer & Karlson dated 6/21/2014 in the amount of $389.47 was received for legal
services rendered.
The following bill from the State of Illinois was presented:
Elk Grove Village Police Pension Board
July 7th, 2014 Meeting Minutes
901 Wellington Ave, Elk Grove Village IL
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A notice for payment from the Illinois Department of Insurance, dated 5/13/2014, in the amount
of $8,000, was received for Public Pension Fund Compliance Fee per 40 ILCS 5/1A-112.
A motion to pay the State of Illinois was made by Trustee Torres, Second by Trustee Parrin. Aye to
approve unanimous. Motion carried.
The following bills from INSPE were presented:
A bill from INSPE Associates LTD dated 5/19/2014, in the amount of $4,290.00, was received
for services provided by Dr. Stevan Weine MD in regards to the disability application of Ofc.
Sabo.
A bill from INSPE Associates LTD dated 5/19/2014, in the amount of $3,600.00, was received
for services provided by Dr. Edward Tudor MD in regards to the disability application of Ofc.
Sabo.
A motion to pay INSPE was made by Trustee Parrin, Second by Trustee Moody. Aye to approve
unanimous. Motion carried.
There was no comment from the public.
A motion to adjourn was made at 4:05 PM by Trustee Moody, Second by Trustee Parrin. Aye to approve:
Unanimous. Motion carried, meeting adjourned.
Christopher Torres
Trustee, Elk Grove Village Police Pension Board