HomeMy WebLinkAbout01/19/2006 PPB MinutesMt. Prospect Police Pension Board
Regular Quarterly Meeting Minutes
January 19, 2006- Village Hall Conference Room
BOARD MEMBERS PRESENT: Kruchten, Saviano, Halachoulis
Others Present: Carol Widmer (Assistant Finance Director)
Rick Reimer (Board Attorney)
Meeting called to order at 2:06 p.m.
1) Review minutes from October 24, 2005 regular meeting
Motion: (To accept minutes from October 24, 2005 meeting)
1 St- Kruchten
2"a- Halachoulis
Passed: 3-0
2) Treasurer's/Financial Report
A) Revielx Financial Statements and reports presented by Carol Widmer
As of December 31, 2005
Widmer said she needs to update the Pension Board Trustee
information with the various investors.
Motion: (To accept treasurer's report)
1St- Halachoulis
2°a- Kruchten
Passed: 3-0
B) Rick Potter was not present to give us a financial report.
3) Old Business
A) Looking into hiring a reporter/stenographer was discussed but again
tabled.
B) Halachoulis mentioned he requested office space be provided the
Board by the Village per statute. The request was made through Chief
Eddington who will look into it.
4) New Business
A) Halachoulis announced he would probably retire shortly after May 1,
2006. He will check with the Department of Insurance to see if he can
stay on the board and finish out his term.
B) Carol Widmer reported that she has the received the tax levy from the
Village. The amount is $1,246.954.00. This was only a few dollars
from Actuary Tim Sharp's findings. A letter must be written to Dave
Erb, Finance Director, requesting this amount be levied.
It was discussed and it will be requested that the Board's future
actuarial reports be completed by October so the levy amount can be
presented before the Village sets its budget for the next fiscal year.
Widmer said the amount of $1,246,954.00 was in the Villages 2006
budget.
A motion was made to accept the levy amount of $1,246,954.00 in
Tim Sharp's actuarial report for purposes of the tax year ending
December 31, 2005.
Motion:
1 "- Kruchten
2"d- Halachoulis
Passed: 3-0
C) A short discussion was held regarding annual increases for a surviving
spouse or dependant. Rick Reimer stated the pension statutes or moot
on this point but other boards have approved the increases. This
matter was tabled until such time a request for an increase is made.
Motion to adjourn meeting at 3:17 p.m.
I'`- Halachoulis
2°d- Kruchten
Passed- 3-0
_J
Tony Hal choulis, Secretary