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HomeMy WebLinkAbout11/16/2010 FPFB MinutesMinutes of the Special Meeting of the Mount Prospect Firefighters Pension Fund Meeting November 16, 2010 I. CALL TO ORDER — ROLL CALL Secretary Baas called the meeting to order at 9:07 a.m. Present upon roll call: David Erb — Treasurer Sam Baas — Secretary Joe Knoll — Firefighter Absent: Mike Figolah — President Jeff Ricker — FIOA /OMA Officer /Firefighter Also present was Jeremy Seeman and Luis Bendan of Becker, Burke Associates, and John Malcolm. Motion by Sam Baas, seconded by Joe Knoll, to appoint David Erb ® President Pro Tem. Motion was approved. II. APPROVE AGENDA Motion by Sam Baas, seconded by Joe Knoll, to approve the Agenda as submitted. Motion was approved. III. NEW BUSINESS A. Presentations were given from the following International Investment Managers: 1. Capital Research and Management Company, by Mario DiVite. 2. Harbor Capital Advisors Inc., by Edward Leedom. 3. The Vanguard Group Inc., by William Horvath. Discussion by the Board as to the Corporate Structure, Investment Philosophy, Portfolios, Performance, Investment Experience and Fees of the three International Investment Managers. O Motion by Sam Baas, seconded by Joe Knoll, to select Capital Research and Management Company as the International Fund Manager. Motion was approved. B. Request for Benefits /Refunds 1. Charles Livingston has submitted his application for Retirement Benefits from the Fund after 34 years, 2 months of Creditable Service. Joe Knoll, seconded by Sam Baas, moved to accept this application, with a monthly pension amount of $6,303.59 Motion was approved. 2. Dan Ackerman has submitted his application for Retirement Benefits from the Fund after 37 years, 5 months of Creditable Service. Joe Knoll, seconded by Sam Baas, moved to accept this application, with a monthly pension amount of $7,119.74. Motion was approved. © 3. Don Burger has submitted his application for Retirement Benefits from the Fund after 35 years, 11 months of Creditable Service. Joe Knoll, seconded by Sam Baas, moved to accept this application, with a monthly pension amount of $6,068.87 Motion was approved. 4. Mark Wojtkiewicz has submitted his application for Retirement Benefits from the Fund after 25 years, 4 months of Creditable Service. Joe Knoll, seconded by Sam Baas, moved to accept this application, with a monthly pension amount of $5,323.03 Motion was approved. 5. Randy Cherwin has submitted his application for Retirement Benefits from the Fund after 36 years, 2 months of Creditable Service. Joe Knoll, seconded by Sam Baas, moved to accept this application, with a monthly pension amount of $5,304.15 O Motion was approved. ® IV. ADJOURNMENT Sam Baas, seconded by Dave Erb, moved to adjourn the meeting at 12:14 P.M. Motion was approved. Respectfully Submitted, Will R. Baas Secretary Minutes approved at the January 25, 2011 meeting. X E