HomeMy WebLinkAboutOrd 2783 04/18/1978
.II
II
II
jl
I'
II
Ii
H
Ii
n
II
I'
il
II
II
II
II~VHEnEAS, the Village of 1\Iount Prospect is 2 Home R;11e Unit of ].oc,'11 gcY~:}'r.'r"j~'t)::
11<13 d?fined :m the H.l'i"O Constitution of the StetE: of HUrLoi:;;; and
I',
!vn-lEREAS 1 as a HO:-Il8 :'Rule 'l:nit. the Village ,)f Mount P~ospect .is ej~.,po','yered to
1.'IU!ldertal.:e to regul<lte ::.nd control d1 nlattCl'S 8Jfeding its governmellt !:md aiIe~I.:~;:,;
I bcluding those mHtters involved v!.\th cr:1f.J:lOY.lT;cmt and personnel; i:-;nd
Ii
I \VHEREAS, on Decem.:::;er S. 1971, the VillJ.g'e of hkunt Prospect e:1tS:l~(;O m::o an
, .
'I Agreed Order in_the matter of.a p~~~itim: to :,G1l1E;X territory tc the 'lillaze L"'f I\kun~
,jProspect under CURe No. 71 cu O~<;5; ,:nd .
II 0"
I! .
1'1 ~ R - . 1 ,.. . < 0 1 .~. d 't .... C' r" ~. '1" s
II N~'1E b.('~,S, t 18 ~uo:?esa2<: ~G~r SpeC1118 tDe.. C8r:mn .~r81l~.ntel'S 01 tEe;: ore,':L ,
'IRl'f:22 FIre ProtectIon .L.Jlstr-lCr would he Hecepted Into tHe FIremen' s Pe:L3;::.;:~{!. : '.J,::,,(~
lof the Vil1cg.o of l\'LQunt Prospect and that other accrued benefits, rig:hts m:.(~ " u,.y,,>'
! ... ... .. .... .. . .........
le:r:pectanc183 snail De presGrved, I'ema:ml'ng InVlOlate and U!Ump:T!J.'BU; mea
~
d
on DINA.NCE NO.
..... t.~ ,,,, t,
.~.{O~
11..N O].i.!)Il\7!~.j~CE Es'rA.r~J..JIs:tIIr-1(i CEn~j:~A"Il~
OY' J--..,........l...."..r C'."''f-'~1\T(-' 'j"'(}'T
.PI.!..:\}[S _ J! _J!IX:.t~~.Lt~!~.IJ ,.~J_~.:.~.~_~,~~.:.~.'.~J~Jc~
I
I
iWlIEREAS) the Illinois Department of Insur.'3.nce has made its deterIi11nhtiG!1 :l:i~;~
ir:ttE:mpts by the I\Iounf: PrOslJBct Fh'.sp.~enf s Pension Fund Board to con;pJ'y ,v::th : j '.'
lafore:"aid Order of Court a:r:e not in compliance vlith the stt:h~tes ;;ovc.1'nir!g '~}'-(~
II. ........-q].t....... ':: .:) "(1' ""!+r'!h"'f. (.' .,:,.; ')0 '- l' r ......,+~..., J:!' .,. J1 f" "':I. :) ...~r'i-{' r ;:r"'~~'~I".....::.~~,r,i. "'j; ;-.... :'~ ".r.'"
ti li.... l~y "na Co. €a~lc:..,.,le ",er ,. .ce requ_1'eLle~ ,..:J lor a. II l:, men .. I.1_l ..;;)c.,. ' ...., l~ ".ct.. .'.,. > ,... ,.:.
Inen~s p8nsion funds throughout the State; and ,.
11\'.'l-1EREL\S, the IlliIlois General Asscrnbly h[iS 8dopted Public Act 78-127';') crnc'::-L<
IlbY Pu1:.)ic Act 79-1425 Hnd PabJj~: Act 80'-];.80, ,,,,hich legislation enables r:mri-
Ilcipalities to establish deferred c:ompensation agreements; :md
Ii
'I
111::iHEEEAS) the F:irernen's Pensio,n F~nd Bo~:~ h~s complied with the di,'c(:t:','C'3 t;~
I b1.e Department of Ins-::u:'aw::e of 'fEe :state of J.llm01s; and
.1
Ii .
IIWHEREAS, it is the desire and obUgaUon of the V1Ho.ge of l\lount Pro-sJ/,ct to cor-;:'
livlith its ugreement b~1'8tafor(> made and enter'cd under the 2..-I'cresald (}'d;-:;o~ .r)~
IICo;,;:rt; and ' .
Ii
II
Illf1:';HER~t'AS' the ~l'Pt_.Sident sa~')al-" ~oar~ Of.T~u~ttees 0: the Vf"idll2..fge of .Mount :'rc.~?F';'::
I C8GD 1 ;:;.ppl':Jprla e to eSl8,\ :lsn hl~U ac.m:!lllS er plans 0 e l:l'r('(l CO::-~JpEms~~!,:,("'J .:~.
i well ;'is an agre8ffient f:tte:'ldant th~::'cto as set forth herein;
i,
IINO'Vl, TBEl\EFORE, BE IT ORD/dNED BY TH~ PR'::::SrDl~NT AND Eo.:\~?C. CF '; ~~IJ:)"J
IFF THE VILLAGE OF MOUNT PHOSPEC'T) COOK CO\JNTY. ILLiNOIS:
'I . .
Cf.{C1..rO....; ill".:v. "J"[' .,~. D,n'~t",.,~t t.o t~-la"L' ")()\'/"'l.' 8'1d a""h."-l'l't"'~ g~"'T(\~.l ;Icm"'. -'.".1;'.....,. ..',_.-.'.7,'.'
~~___':':"'-_":.~_~~'" . .JO......,. .A. .......;..::;, ".:....". , ~J. 1: '-'"'.. (~ L.1~\......,v ~i .l \...:...1 ..,1, ..l~; (:.. I.....~_ '
. " . - "( f r ".. C\'\ Ct'. . J . 1;' '1 <.:: t t ~ '.1" . . ,- ... .
HI L~l'llc:j.r~ "it OJ. Lr:>.e 1.;;71.. .;0:08 nU';lOn oj. [-1(::; ../[~ e ot 1. l:Ul01~~5 tD.e .r.l'i::s:ldc2l:~ '.>. ~,..i.;
Vcll!'r:ro "'1' l\"CU1>t P""o'~nc'cl ;<. l}('reh'lr autho~"L::f'd dYJil djre,..t':>d +0 c."'te'r' ;'..'(' \P1"~F("'.,
I J. - J.O <..- ... t . - . H .....:: ..~. v I. t' -~ .' ~ h .)1 " ;. . 1 ~ y:. 1.' .. "r - ,- '- . ,- ".. 1- .... "., T ~' . ~. ....
lagreemc:ll S V.iJ.<.l!. !..'lrei.lglel'S C ,l11'.es l"le~\., .'L1Cl1Hl'Q \.lHCenZO, :~,nci .:',;,U1. ,\;,'t"..>'.:;"
1:-<0 ,-pLl r".~~(1/.. .r,,,,,.t nf 'L..l.lL'l" .....,.oSS C''''lUE''1''a'..io'1 ('whioll ......"1.t (,11",11 b'" .~Y'> ':;."1 ')l.""."'~.i.i
;L .:.,).... r..lV,1,. ~,~, ,j.:.L.Io..... <oJ.- '.:.. J.. 1:'_ ,_ .........J,.. J_ v ..._ .10" _-...... 1".... v,L -r.:.4,', .........:...J..l \:"",J" c. ......' '-"'"
Ilover a...::d Jb~~ve fhe I'\:;.gti.l~.lr sillary and benefits paid aU firefig'hters of :::irrl~l:~': ,.
b'om time to time, anti v;hkh part shan be in an 2mount ,,:qu,;l to the ammnrt tt:.l':
rlillage 'would have pDid tov.rards funding tr.J;; pBndons of 1he said F{refighh::r.s h::,i.:
~,.h(;v be..:;::1 D(,;.'!.,ticiJ:;r..\3tiwr Hicmber's of the Mount PI.'OSp<O'.:::,t .l~':;)"\;men~s ?cT'.sion FUll-:~"
I! . J.J,.- <;) ". "
liH nrder H12t the ViJl:,gc Treas1A.rer may i1r~"est such bericfits.
I
i,
!.-'i. .
d It
Ii
II
.._,.,.JJ_ "'" ",.,.......,."._".~...~,...__.~,~..~,..........".,.._..'._.___.'
l)~J~ctjcil:!::ition v;itl1"i.ri ~il'is pJ.:111 of (1efr.;1".rt:~d. compeI1sation s[l.all be "lJ:{ V,i1'>1'~.tr'-::~
2g:r'ee:':!c:.rlt i)et"t.,et~I1 eC1c:J1 (Jf t}1C sairj Fi~~'cfir:h.tel.s 2.I'ld tl1J~ 'lil1ar>3 (i' j.lk:)1~j,I1."\.
hereinabove mentioned no later th8.n April 30, 1978.
p].'i)Sl.J€C-::, ~lJ!lj.ch 5,g~re~;:r'!Cl1t 111:"..18t Ul:: Sig'!1t3C1: if c!t r3JJ:, by arl~l .Fir~2i'jg'11t(~1"
2.
The Vill&ge Treasurer is hereby authorized to establish and admi..'1i3ter a
separate fund (in the form of a savi::1gs account and other additional accounts
as may be necessary) for each of the aforesaid agreements, sufficient to enabJ.(~
such Fireman upon his death, disability. 01-' retirement from active serF lee ~t)
receive paymf.:mts equal in number, duration, and amount to payments l.m.d(;l'
the laws found i:gthe Firemen's Pension :fund Act of the State of lllir:.oi::;
Q3.R.A. lOBt, Article 4, as establisb.cd on the date hereof 01' as it may 0(;
amended hereat."1er), had such Firefighter heen a partic5pating mernbc-r' cd:'
the Mount Prospect Firemen T s Pension Fund.
1.
For purposes of administration of said deferred compensation funds.
the Village Treasurer shall be guided by the aforesaid regulations
contained in the Ininols Firemen r s Pension Fund Act.
2.
In view of the fact that Firefighter Ch8.r18s Nick is not now and
sl};~11 11lTt
3.
In view of the fact that both Firefighter Richard Vincenzo and Firefighte:::'
Paul l'Yatkins are presently members of the I\lount Prospect Firer:1cn ~ s
Pension Fund. in computing the amount of each of the sald F:iTefightcL'!~;
deferred compensation payments hereunder. v.rJ1ether for death, di::;;"lji1~t'.t.
or retire.ment. the Village Treasurer shall utilize an amount equaj tC! thr~
. additional benefits and payments such Firefighters would have l'ecc;')v;'d
irem th0 Mount Prospe.;::tFiremenfs Pension Fund had such Fjrefi GU 0:.::' $
been partidpating members of the said Mount Prospect Fir~men's Pens:icn.
Fund caJ cuIated on the basis of:
a.
Three (3) additional years of service, in the case of Firefighter
Richard Vincenzo; H!,1d
II
II . Watkins.
siiliTIQ~~ TV~O: That the Village Clerk be and is hereby dhected to pubE,~h thf;
-__"._.E:lt:~~~~~"~::f ~\r:-:15~:.meein .p!:'.~ph~~t fo:r':-'l.!J2...l2:SUar~!.~~.tht~ statuJc?_gf the Si8fc' 'J1'.
b.
One (1) c:.dditjollal year of service, :In the case of Firefighter Paul
~~--
'i
Ii
.'1,.1
~
Ii
Ii.
!J
il
'I
Illi~ois made ond provided.
~J
II
~E[TION THREE: That this Ordinance shall be in full force and effect from ;md
. aft ~r its passage, approval and publication in the manner provided by 1m'".
II
'I
A"'R7 .... .
J.. ~;:).
I
il
NArks: 0
II
II
AB~ENT: 0
PA~SED this 18th
il
AP~ROVED this
II
II
'II
.1
p
d
Ii
II
II
Ii
I
ATlfEST:
II
VilW~~ ~)
II
II
'I
Ii
II
II
i!
6
day of
April
,'19'/8.
18th
day of
Aprll
, 1978.
APPROVED:
(/~/ I JF/
'..../a:xt~} ~/~.. ,II /1'1?U-?/'IL->Z-'
\Tillage P~sidEmt
,;;1
---8~. '..
1"""''''. ,-'~ - . or"::
. ti (S ;::t---r)-,"r;J:""~;'
--3-
.11
!i
!i.
Il
I
Ii
I
3/3u
AN A.GREEl\1m-rT FOR A PLAN OF DEFERRED COMP:ENSATION
I
I
HEI~,EAS, tIle Village of l\Jount Prospect, a municipal corporation undel' the JarTS of
.e State of Illinois, hereinafter referred to as llVillagelT, is a Home Rule Unit of
caI govermlient as defined in the 1970 Constitution of the State of Illinois; and
1
ilHEREAS, as a Home Rule Unit, the Village is empowered to undertake to regulate
, nd control all matters affecting its governm~mt and affairs, including those matters
lfvolved with employment and personnel; and : .'
~..'THEREAS' on December' 8, 1971, the Village enter-ed into an AgreGd Order in the
Altier of a petition to annex territory to the ViHag'e under Cas8 No. 71 CO 0526;
, d
I
I
WHEREAS, the aforesaid Order specified that certain firefighters of the Forest River
lhre Protection District would be accepted into the Firemen's Pension Fund of the
~.i11age and that other accrued benefits, rights, and future expedancic.s shall b(;1
, reserved, r(~maining inviolate and unimpaired; and
I
HEREAS, the Illinois Department of Insurance has made its determination that
ttempts by the Mount Prospect Firemen's Pension Fund Board to comply with the
fOY'eshld Order of Court are not in compliance with the statutes governing ~ht.:
uality and ereditabl,3 service requirements for all firemen who participate in fire-.
len's pensio:1 funds throughout the State; and
\ HEREAS, the Illinois General Assembly has adopted Public Act 78-1277, amCEC1eo.
y Public Act 79-1<:125 and Public Act 80-1180, which legislation enables muni--
. ~pajjties to establish deferred compensation agreements; and
~ 7HERE/:..S. the Firemen's Pension Fund Board has complied with the directives of
i 1e Departrr.ent of Insurance of the State of Illinois; and
" TrEREAS, it is the desIre I:md obligation of the Village to comply with its ag:i.'eerilent
eretofore made and entered under the aforesaid 01'der of Cou:rt; and
'HEREAS, Paul Watldns, hereinafter referred to as "Firefighter", is one of thr'ee
i'efig'hters named in the aforesaid Order of Court, who had certain vested rights
ithin the Forest River Firemen's Pension Fund prior to the time that fund was
,erg-ed. with the M:ount Prospect Firemen's Pension Fund pursuant to the terms of
li~ said Order of Court; and
, hereas, pursuant to its Home Rule powers, the Village has heretofore adopted
rdinance No. _~'l83_, passed and approved on the -.!?tJ!_. day of April, 19'78,
hich Ordinance exists as enabling legislation authorizing the exeeuJion of this
recmcnt; a:i.1d
t. HEREAS, both the Village and the Firefighter believe it to be in the best intt::r~8ts
.. the ViHage and the Firefig'hter to establish, administer, and pd.rticipate 5n a
"rtain plan of deferred compensation as set forth he1'ei.nbelow;
J~Ollll, THE!-tEFORE, in consjderation of their mutual promises, cO'\TelHHLts, l:nde.c-
~fkingS' and 9greements, the Village and the Firefighter' agree as follows:
II 1. That the Fi.refighter shalJ continue to serve the 'linage c.s a ;3Vlorn
I member of its Fire Department in compliance ""lith an of the rules and
I l'egl.:latlcm; thereof as well as the orders of its Chief a::1c1 hny superior
I nj+.~(tr:.'.rs (.,f ..,.l..;~ ''!:r-i''~r\r~l.''r''rl'~''-YP Ul-,"-J'l r11'8' ",.,(~,tl-r~\'f':"'pnt '1..,....~.1"1 hJ"c dr"lA.l'\ (,." '1'"rJ'!'1
I J ...- -'., o;L dJ:.. .. ... \.: l::" ,"'., . .l. - .. j. '. _..H.,. '. HL .. .'.' .,-,<_l. dO )~ ".H <
i l' d ' " 1 . . 1- - 1 Po' .
II .1" ,,",,~,.~~:~~~~occur~n~st
I
Ii
Ii
II
II
Ii
I
I
I
I
II
I
I
I
I
I
i
I
I
I
1
I
I
Ii
n
...
I
I
I
I
I
i
I
I
I
I
I
I
That upon the execution. hG}:ecf, that amount of money heretofore ecntributed I
to the account of the Firefighter as it has been established within the Mount i
Prospect Firemen's Pension Fund for Creditable Service accruing befo:1.'e I
August 1, 1970, whether such. payment was made by the Firefighter, by the ,
Village, or by the Forest IUver Fire Protection District, shall be removed ~I
and withdrawn from the Mount Prospect Firemen's Pension Fund and deposite
in a Village savings account (hereinafter referred to as "Account") to expedit
his individual plan of deferred compensation as agreed to herein. i
<.
That the Village shaH CC'1.:',p'2~"."J(~ tJ.l.r3 Firefighter at the rate and with the,
same benefits paid othe:e s'w'orn m.~mbt2rs of its Fire Department of the
same rank as the Firefighter at the time of such payment--and that such
payment shall be made at the same intervals as the other SWOl'n members
of the Village's Fire Department.
n
,).
4.
That the Village's Treasurer shall oversee this plan and make payments there-'
under. The administration of the A~count shall be such that, upon the i
I
Firefighter's death, disability, or retirement from active service, to receive I
payments hereunder equal in number, duration, and amount to paymer:.ts I
under tho laws found in the Firemen's Pension Fund Act of the State of IllinoiS
_(S .H.A. 108.~, Article 4, as established on the date hereof or as it may be i
amended hereafter), had the Firefighter been a participating member of the !
Mount Prospect Firemen's Pension Fund for an additional one year less .
any amounts actually paid to the Firefighter or his family by the Mount
Prospect Firemen's Pension Fund (since the Firefighter is a participating
member of the 1\1ount Prospect Firemen's Pension Fund).
I
That, in the event the balance of the Account is insufficient to make any of thJ
payments contemplated herein at the time the payment is to be made pursuant 1
to the terms hereof, the Village shall pay the Firefighter from other sources I
I
That during the term hereof, the Firefighter shall continue to be a partic:tpat-I
ing member of the Mount Prospect Firemen's Pension Fund and the terms I
hereof shall not in any way affect the Firefighter's pension and Social i
Security benefits or other compensation or other defer'red compensation I
plans. I
I
I
I
I
I
I
5.
6.
n
( .
That no revision of this Agreement shall be valid unless made in writing
and duly authorized and executed by the Firefighter and the Village or
by their successors in interest.
8,
That this agreement shall be binding upon the Firefighter Hnd his heirs
and successors, as well as the Village and its successors in interest,
and.its officials and their successors in office.
9.
That this agreement shall continue in full force and effect for a period of
e.lxty (60) years from the date of its execution.
IN WITNESS WHEREOF,
rth day of April, 1978.
~mAJ" )
.L1~~E8,~r:
1~
\m1Jp,!;(, Clsl'h:
I'
Ii
II
II
I
_~J. ~_____~__~_
the parties hereto have set their hands and seals this
.,td_~, ~1!Al"'_~
VILLAGE OF IVlOUNT PROSPECT
h' .~.. . ';(//
By: _. L~/[,ei..~A._ /,/ /'I/lct"'~:':,::::_,_
Mayor .. :>$ '."
/."-:/;~.:~~//Yj:::t:
~4",O.' ../~/# k/~1/ c..-5::_,~-_._._.
--.raul Watkins ---"-
-2-
:!
n
II
.l!
I
II
H
II
I.
II
j::
n
d
Ii
.'
p
:1
p
~. HEREAS, the Villag. e of Mount Prospect, a municipal corporation under the laws of
~he State of Illinois, hereinafter referred to as fTVillage", is a Home Rule Unit of
1!bcal government as defined in the 1970 Constitution of the State of Illinois; and
H
Ii
~HEREAS, as a Home Rule Unit, the Village is empowered to undertake to regulate
4hu control all matters affecting its government and affairs, including those matters
.j~Yolved with employment and personnel; and
11' . ..,'
H
!ibHEREAS, on December 8, 1971, the Village entered into an Agreed Order in the
. atter of a pe tition to 2nnex territory to the Village under Ca8e No. 71 CO 0526;
11d
II
i:ftHEREAS, the aforesaid Order specified that certain firefighters of the Forest River
l!rre Protection District would be accepted into the Firemen's Pension Fund of the
~. iHage and that other accrued benefits, rights, and future expectancies shaH bA
rlreserved, remaining 2nviolate and unimpab~ed; (,illd
,
I
I,
'UHEREAS, the Illinois Dep&rtment of Insurance has made its determination thEt
<if~temPts by the Mount Prospect Firemen's Pension Fund Board to comply with the
< .:oresaid Order of Court are not in compliance with the statutes governing the
JluaEty and creditable service requirements for all firemen who participate :n fire-
~ell's pension funds throughout the State; and
II
~HEREAS. the illinois General Assembly has adopted Public Act 78-1277. amended
1WY Public Act 79-1425 and Public Act 80-1180, which legislation enables muni-
qfpalities to establish deferred compp.nsation agrp.ements; and
Ii
V~"HEREA8' the Firemen's Pension Fund Board has complied with the directives of
t e Department of Insurance of the State of Illinois; and
I
l~HEREAS, it is the desire and obligation of the Village to comply with its agreement
l1rretofore made and entered under the aforesaid Order of Court; and
\1
1~HEREAS' Charles Nick, hereinafter referred to as '''Firefighter'', is one of three
f refighters named in the aforesaid Order of Court, who had certain vested rigllts
't Jithin the Forest River Firemen's Pension FUl1.d prior to the time that fund was
erged with the lVIount Prospect Firemen's Pension Fund pursuant to the terms of
t e said Order of Court; and
I
3/30/78
AN AGREEMENT FOR A PL.A,N OF DEfERRED COMPENSATION
\ 'hereas, pursuant to its Home Rule powers, the Village has heretofore adopted
Irdinance No. 2783 , passed and approved on the 18th day of April, 197 S,
'\ Ihich Ordinance exists as enabling legislation authorizing the execution of this
aJfreemcnt; and
I,
Vf1HEREAE, both the Village and the Firefighter believe it to be in the best interests
the VEl&ge and the Firefig'hter to establish, administer, and participate in a
c rtain plan of deferred compensation as set forth hereinbelow;
W, THERE'20RE, in 0onsiderztion of their IGutual promises, eovenants, under-
1; kings, and agreements, the Villag'e and the Firefighter agree as follows:
1. That the Firefightp.r shall contin:"7.e to serve the Village as a sworn
member Gf its Fir-(~ Department in compliance with all of the rules and
regulations thereof as 'Nell as the orders of its Chief and any superior
I
'j
II .
II
II
I!
d
.,
I
L
I! 2.
IJ
II
I
I'
,I
Ii 3.
il
II
il
II
I
II
II
II
I
I
I
II 4.
II
II
I
I
i
!
I
Ii
II
I
II
II
,
,
,
!
I
,I
I
,
1
I
>I
II
'I 5.
I
I
II
II
I 6.
I
I
I
I
II
II
Ii
II
II
I-
"
II 7.
II
I
I
I
officers of the Firefighter until ~is retirement until his death or until
his disability, whichever occurs firf;;t.
That th.3 Village shall compensatz the Firefighter at the rate and with the
same benefits paid other sworn members of its Fire Department of the
saIne rank as the Firefighter at the time of such payment--and that such
payment shall bz made at the same intervals as the other sworn members
of the Village's Fire Department.
I
I
I
,
I
I
I
i
I
I
made by the Firefighter, by the VjIlag'e, or by the Forest River Fire I
Protection Distriet, shall be removed and withdrawn from the Mount ProspE.ct I
Firemen's Pension Fund and deposited in a Village savings account (herein-- I
after referred to as TfAccountll) to expedite his individual plan of deferred I
compensation as agreed to herein. Thereafter, the Firefighter and the ViHagt
shall pay into the said Account whatever amounts would have been deducted
from or added to his compens8tion as a sworn member of the VilJage's Fire I
Department had the Fh"efighter been a participating member of the Mount I
Prospect Firemen's Pension Fund. :
,
I
I
That ~he Village's Treasurer> . shall oversee this plan and make payments there~
unde.l . i
That upon the execution hereof, the total amounts of money heretofore con-
tributed to the account of the Firefighter as it has been establishe.d within
the Mount Prospect Firemen's Pension Fund, whethej. such pf:iyment was
a. 'The administration of the aecount shall be such that, upon the Firefigllt(~r s
death, disability, or retirement from active service, the funds oVaHHb!.e ,
shall be sufficient to en8.Dle such Firefighter or his family to receive pay--I
ments h.ereinabove equal in number, duration, and amount to payments ,
under the laws found in the Firemen's Pension Fund Act of the State of I
I
Illinois (s..JLJt.. l08L Article 4, as established on the date hereof or as I
it may be amended hereaft(~r), had the Firefighter been a participating- i
member of the Mount Pr ospect Firemen's Pension Fund. \
b. For purposes of calc-uIating benefits and! or dates of retirem('nt and I
eligibility to receive benefit.s her(:;under, the Village's Treasurer shDJI I
be guided by the :.;,Joresaid regulations contained in the Ulinois Firemen I s I
Pension Fund Act. However, in computing the Creditable Serviee Time
of the Firefighter, the Village's Treasurer shall consider each year I
the Firefighter worked for the Village's Fire Department as well as I
twelve (12) additional years of servicc--the total of whi.ell shall be the I
.Creditable Service Time of the Firefighter. I
i
I
That. in the event the balance of the Account is insufficient to make any of the I
payments contemplated herein at the time the payment is to be made pursuant I
to the terms heree:,f, the .Village shaH pay the Firefighter from other sources. I
That dudng the term hereof> th{>, Firefighter shan not be a participating I
member of the l\1cunt Prospect f;[rernen's Pension Fund and shall ac:cept the i
payment made hereunder in lieu of any Gt11er pension benefits from the Villagel
01' the Forest River Fire Protection District. However, the terms hereof shaH I
I
not in any v.Jt.lY affect the Firefighters Social Security benefits or other i
compensHtion or other defe:~'red compe:nsation plans. I
That no revision of this Ag::'eement shall be v.alid unless made in writing
and duly author'ized and pxecuted by the Firefighter and the Village or
-- ?..-
.~
i
I
I
._L_
...._----------------'""'"'~,~~~~,."'""'"'~
II
~ I-
II
II
Ii
i'
d
;1
'Ii 8.
,I
h
II
II
Ii
II !: .
II
II IN WITNESS WHEREOF, the paTties hereto have set their haTlds and seals this
2~th day of April, 1978. .
,I
Ii
II
h
I,
Il
Il
l!
II
I'
(~EAro)
II
II
~l'P'T"" Cl 'f
1" j.! ..~ J.~)..,;.. :
I
1
I
I
by their successors :in interest.
That this agreement shell be binding upon the Firefighter and his heirs
and succeEsors, as wen as the Village and its successors in interest and
:its officials and their successors in offiee.
Tnat tbis agreement shall continue in full force and effect for a period of
fifty (50) years from the date of its execution.
VILLAGE OF MOUNT PROSPECT
By:
(''P' 17 1(/ .,..~, /
1/ /.I
6f 1:' i;Yz;:>/ _.. /c.I. ".r~1p.. <A. ..." ,
......,/ u'. ~~;......._~_~~. ' ~~.
M~~' ,. .
,(.o.~"...~
, --
V Huge Clerk
II
Ii
Ii
II
/':; t/ \
~~.~~ ~~~----
Charles NICk
-3-
I
--'---
I
'I
I
I,
!
I
II
II
!
i
""";I!,.:"""'''',
?j31.
'.
AN AGR1i~lymNT l'~OR A PLAN OF I?EFE1~!~_!:D COM_~El'!~:&'::~ION
iHEREAS, the Village of IvIount Prospect, 3. municipal corporation under the laws of
18 State of Illinois, hereinafter referred to as IIViJ.1age IT, is a Home Rule Unit of
,:':0.1 government as defined in the 1970 Constitution of the State of Illinois; and
1HEREAS, ss a Home Rule Unit, the Village is empowered to undertake to :pegulate
nd control all matters affecting' its government and affairs, including those matters
volved "dth employment and personnel; and ,"
HEREAS, on December 8, 19'{1, the Village entered intc an Agreed Order in th.e
latter of a petition to annex territory ~_o the Village under Case No. 71 CO 052G;
nd
HEREAS, the aforesaid Order' specified that certain firefig'hters of the Forest River
ire Protection District would be aecepted into the Firemen's Pension Fund of the
IEJage Hnd that other accrued benefits, rJ.ghts, and future expectancies shall be
'reserved, remaining inviolate and unimpaired; and
HEREAS, the Firemen's Pension Fund Board has complied with the directives of
t ,e Department of Insurance of the State of Illinois; and
{HEREAS, tIle Illinois Department of Insurance has made its determination that
'ktempts by the Mount Pl'ospect Firemen's Pension Fund Board to comply with the
. I ol'escid Order of Court are net in complian.ce v,rith the statutes governing the
uality" ~md c:redit&ble service requirements for all firemen who participate in, fire-
en's pension funds throughout the State; and
. fHEREAS, the Illinois General Assembly has adopted Public Act '18-1277, amended
" Public Act 79-1425 and Public Act 80-1180, which legislation e:1ables muni-
palities to establish deferred eompensation agreements; and
\ HEREAS, it is the desire and obligation of the Villag'e to comply with its ag'reement
"1'etofore made and entered under the aforesaid Order of Court; and
~ HEREAS, Richard Vincenzo, hereinafter referred to as llFiref:ight~~r", is one of three
~ refighters named in the aforesaid Order of Court, who r.ad certain vested rights
'\ ithin the Forest River Firemen I s Pension Fund prior to the time that fund v{as
: erged with.the Mount Prospect Firemen's Pension Fund pursuant to the 'i€l'ms of
t e said Order of Court; and
\ HEREAS, both the Village and the Firefighter- belil::ve it to be in the best int8rests
( . the Vi1l3.ge and the Firefighter to estt..blish, ad:ninistej"', and participate 1."'1 a
_rtain plan of deferred compellsatioD 88 set forth hereinl">elow;
hercas. pursuant to its Home Rule powers,. the Village has he:c'etofore adopted
( Y'dinance No. ~8~, passed and approved on the 18th _ day of AprH, 1978,
hic.:h Ordinance exists as enabling legislation author] zing the execution of thi s
W, 'J.'HEREFORE, in cmlsideratJ.on of their mutual promises, covenants, under-
t kings, and agreements, the Villflge and the Firefig'ht0l' agree as follows:
1. That the FirefIghter shall cendnue to 2erve the Village as a f;worn
member of its Fire Dcpcl.l'tmen: in. compLiance vlith all of the rules and
regcJatior1;'; thCI'f.":Clf as \\'(;';ll as th(~ crde:.'s of its Chief an.d any superior
II
t
I
I
I
I
I
I
I
I
I
II
I
I
11
I'
Ii
I
I
I
I
I
II
II 5.
I
II
I' 6.
II
I,
,I 7,
!
j
I
I 9.
i
I
I IN WITNESS WHEREOF, the parties hereto have set their hand[; and seals this
~rth day of April, J.978.
I
,~~~~;~
.AI.1.;:,.:....:
1~~4.~
;1 '1; '" 0'(. C'erk
H_J~~b' " .
II
II,
II
r
',' ,..,
'Or,.
officers of the Firefighter until his retirement until his death or until
his disability, whichever occurs first.
2.
That the Village shaH compensate the Firefighter at the rate and with the
same benefits pai.d ether sworn members of its Fh'fJ Department of the
same rank as the Firefighter at the time of such payment--and that such
payment shall be made at the same interv&.ls as the other sworn members
of the Village's Fire Depm>tment.
3.
That upon the execution hereof, that amount of money heretofore contributed
to the account: of the Firefighter as it has been established within the Mount
Prospect Firemen's Pension Fund for Creditable Serv~ce'~tccruing before
Augrust 1, 1970, whether such paymE':nt v.ras made by'the Firefighter, by the i
. I
Village, or by the Forest River Fire Protection District, shall be removed I
and withdrawn from the Mount Prospect Firemen I s Pension Fund and depositeh
in a Village savings account (hel'eirwfter referred to as "Account") to expeditbl
his individual plan of deferred eompensation as agreed to herein. ,
I
That the Village's Treasurer shall oversee this plan and make payments therq-
under. The administration of the Account sh8.11 be such that, upon the I
Firefighter's death, disability, or retirement from active servic€:, to receive
payments hereunder equal in number, duration, and amount to payments i
under the laws found in the Firemen's Pension FUD.d Act of the State of Illinoi9
(S.II ,A. 108~, Article 4, as established on the date hereof or as it may be '
ar.'1ended hereafter). had the Firefighter been a participating lTlember of the I
Mou:nt Prospect Firemen's Pension Fund for an additional three years less I
any amounts actually paid to the Firefighter or his family by the Mount I
Prospect Firemen's Pension Fund (since the Firf;fighter is a participating I
member of the Mount Prospect Firemen's Pension Fund). I
I
That, in the event the balance of the Account is insufficient to make any of th~
payments contemplated herein at the time the payment is to be made pursu,ant I
to the terms hereof, the Village shall :ray the Firefighter from other sources.
I
i
!hat during the term hereof, the Fi~efighter shall. continue to be, 11 participat-j
lng member of the Mount Prospect FIremen's PenSIOn Fund and tne terms '
hereof shall not in any way affect the Firefighter's pension and Sodal I
Security benefits or other compensation or other deferred compensation I
plans,
I
I
'1.
That no revision of this Agreement shall be valid unless made in writing
and duly authorized and executed by the Firefi ghter and tlle Village or
by their successors in interest.
8.
That this agreement shall be binding upon the Firefighter and his heirs
and successors, 8S well as the Village and its succeSSGrs in interest
and its officials and their successors in office.
That this agreement shall continue in full force and effect for a period of
sixty (6D) years from the date of its execu.tion.
VILLAGE OF MOUNT PROSPECT
L");: ';t'- /
B : !'_~:<l-'" fi'..,:
y _ .-Ct.;u ,,~ /I .. t. (0:.(....,1..5:'....._.
Mayor ! . .
-~2-
flciA1rd7J/J. J~1:k-:cd!4~___.
t~aI d V:rr;;-e~ ,?/
. .. ......L
"c,.)'=,~JO,c,"',.,",..~,.s.,.".,~=~,....,"',.,..,.."..,"'.."".~..'.",.,',.',,,.,c.<-""'.,=.,"""'.-.....,""'..~""'-.,~-___~__~~__"~".~-~~