HomeMy WebLinkAbout07/17/2006 PPB MinutesMount Prospect Police Pension Board
Regular Ouarterly Meeting Minutes
July 17, 2006- Village Hall Conference Room
Meeting Called to order ay 2:00 PM.
Board Members Present:
Absent:
Others Present:
Rosenbarski, Eddington, Halachoulis, and
Saviano
Kruchten
James Smith and John Miller- Ariel
Margarett H. Gorodless- Becker, Burke
1) Review of minutes from April 17, 2066 regular meeting.
Motion: (To accept minutes of the April 17, 2006 meeting)
I'`- Saviano
2"d- Halachoulis
Passed: 4-0
2) Treasurer's/Financial Report:
A) Review of financial statements and reports presented by Dave Erb.
Motion: (To accept the Treasurer's Report)
1 St: Halachoulis
2"d: Saviano
Passed- 4-0
B) Margarett Gorodless reported the fund's equities were at 48.7% and
she recommended we move3.5% to 4% to come back into compliance
with the 45% rule.
C) Ariel representatives James Smith and John Miller were present at the
Board's request due to recent lower than expected returns. They gave
an overview of Arial and reasons for Ariel's performance. Mr. Miller
said Ariel has a history of being cautious.
Old Business
Dave Erb reported that Dave Okon had taken advantage of the transfer of pension
funds from his TMRF pension into the Mount Prospect Police Pension Fund. But has
since changed his mind due to his higher than expected out-of-pocket expenses didn't
warrant the approximately two years the transfer bought. Okon has requested his IMRF
money be returned.
Motion: To refund Officer Okon's IMRF funds subject to approval
by IMRF and instructions by Okon.
I": Eddington
2"d: Rosenbarski
Passed- 4-0
Dave Erb also advised the board the IMRF transfer of pension funds for Officer
Miguel Martinez to the Mount Prospect Police Pension Fund has been completed.
Board Attorney Rick Reimer reminded the board that it needs to ask all its fund
managers for signed Sudan compliance forms. He also recommended the board not join
the NFTC suit against the state because of on-going dialogue with State Senator
Jacqueline Collins. Mr. Reimer said his advice might change if Senator Collins doesn't
agree to get statute changed to exempt Article 3 and 4 funds from the statutory
requirements.
Mr. Reimer told the board about Speaker Madigan's project for pension boards to
voluntarily not do business with Predatory Lenders.
The subject of a stenographer came up. The Fire Department pension board is willing
to share the expense. Other alternatives are to alter a police records clerk's hours to take
minutes or look for a court reporter. Trustee Eddington will ask people in police support
staff if anyone is interested.
Rick Reimer told the board that Officer Mike Barrett's medical records have been sent
to three doctors for review. If the doctors agree Mike is not able to return to duty Mike
can waive a formal hearing and the board can hold a special meeting to vote on his 50%
non -duty related disability pension request.
The board then discussed the possible upcoming disability pension requests from Sgt.
Cathy Schmidt and Officer Al Wilcox. Rick Reimer said he has received the applications
from both officers but needs releases for medical records.
Trustee Eddington made a motion to authorize Mr. Reimer to have a service pick three
doctors to review the medical records/examine Sgt. Schmidt and Officer Wilcox. The
motion was seconded by Rosenbarski and passed 4 to 0.
Trustee Halachoulis asked if Officer Mike Jolie had made a decision to apply for a
disability pension. As of this date Officer Jolie had not applied.
Former Officer Sienkiewicz has made a written request for a refund of his pension
contributions. Trustee Saviano made a motion to grant Sienkiewicz's request. The
motion was seconded by Eddington and passed 4 to 0.
At a past meeting Trustee Halachoulis had inquired if old, out of date pension records
(such as disability hearing testimony where the disabled officer and all known dependants
are deceased) can be destroyed. Rick advised us they can't be destroyed but can be
electronically saved.
New Business
Village Clerk Lisa Angell has requested that copies of all meeting agendas, minutes
and meeting notices be forwarded to her.
Meeting adjourned 3:55 PM
Tony Halachoulis- Secretary