HomeMy WebLinkAbout01/22/2007 PPB MinutesMOUNT PROSPECT POLICE PENSION BOARD
REGULAR QUARTERLY MEETING MINUTES
JANUARY 22, 2007
MEETING CALLED TO ORDER AT 2:06PM
BOARD MEMBERS PRESENT: ROSENBARSKI, EDDINGTON, KRUTCHEN,
HALACHOULIS
OTHERS PRESENT: RICK REIMER, RICK POTTER, CAROL WIDMER, JEFF BLACK
1. REVIEW MINUTES FROM OCTOBER 16, 2006 REGULAR MEETING
MOTION TO ACCEPT MINUTES OF OCTOBER 16, 2006 MEETING
1 ST KRUTCHEN
2 ND HALACHOULIS
PASSED 4 -0
2. TREASURERS REPORT:
REVIEWED FINANCIAL STATEMENTSD PRESENTED BY CAROL WIDMER
ko MOTION: TO ACCEPT TREASURERS REPORT
1 ST HALACHOULIS
2 " KRUTCHEN
NSIA s7
RICK POTTER SUGGESTED REDUCTION IN EQUITY FUNDS TO COMPLY WITH
45% RULE
TRANSFER FROM EQUITIES TO BOND FUNDS EQUALLY
AMERICAN FUND $500,000
DODGE & COX $500,000
VANGUARD $400,000
MORGAN STANLEY $200,000
ARIEL CAPITAL $100,000
MOTION: TO ACCEPT POTTERS RECOMMENDATION
1 ST KRUTCHEN
2 ND ROSENBARSKI
PASSED 4 -0
3. TRUSTEES PRESENT APPROVED THE FOLLOWING SCHEDULE FOR THE
REMAINDER OF 2007 MEETINGS
APRIL 23, 2007
JULY 23, 2007
OCTOBER 22, 2007
ALL MEETINGTS TO BEGIN AT 130PM
4. RICK REIMER TOLD BOARD MEMBERS THAT THE DISABILITY APPLICATION
FOR SGT. SCHMIDT IS MOVING FORWARD. MEDICAL RECORDS ARE
CURRENTLY BEING REVIEWED.
OFC. AL WILCOX'S DISABILITY APPLICATION IS ALSO IN PROCESS WITH HIS
MEDICAL RECORDS CURRENTLY BEING REQUESTED FROM HIS DOCTORS.
PENSION BOARD ATTY. REIMER RECOMMENDED THE BOARD APPROVE
INSPE ASSOCIATES LTD. TO REVIEW ALL DISABILITY APPLICATIONS.
MOTION: TO AUTHORIZE REIMER TO USE INSPE
1 sT HALACHOPULIS
2ND EDDINGTON
PASSED 4 -0
C A' f;
5. THOMAS CALCASIO REQUEST FOR PENSION TRANSFER -DAVE ERB TO
CONTACT TIM SHARP.
6. TRUSTEE HALACHOULIS BROUGHT UP COST OF LIVING INCREASE FOR
SPOUSES- REIMER RECOMMENDED WAITING TO SEE THE OUTCOME OF THE
ROSELLE CASE.
7. REQUEST MADE TO HAVE MINUTES MAILED OUT TO TRUSTEES PRIOR TO
MEETINGS.
8. DISCUSSED UPCOMING PENSION BOARD ELECTIONS. ELECTION RESULTS
TO BE CERTIFIED AT NEXT MEETING.
MEETING ADJOURNED 3:57 PM