HomeMy WebLinkAbout07/25/2017 PPFB MinutesMOUNT PROSPECT POLICE PENSION FUND
50 S. Emerson Street m Mount Prospect, Illinois 60056
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MINUTES OF A REGULAR MEETING
OF THE BOARD OF TRUSTEES
TUESDAY, JULY 25, 2017
A regular meeting of the Mount Prospect Police Pension Fund Board of Trustees was held on Tuesday,
July 25, 2017 at 2:00 p.m. at the Mount Prospect Village Hall, 50 S. Emerson Street, Mount Prospect, IL
for the purpose of conducting regular business.
CALL TO ORDER: President Tony Halachoulis called the meeting to order at 2:00 p.m.
ROLL CALL:
PRESENT: Trustees Tony Halachoulis, David Erb, Dennis Saviano and Joe Gliner
ABSENT: Trustee Tom Hoskinson
ALSO PRESENT: Tom Sawyer, Sawyer Falduto Asset Management LLC; Rick Reimer, Reimer
Dobrovolny & Karlson, LLC; Robina Amato, Lauterbach & Amen, LLP (L&A);
Michael Zurek, Nyhart
PUBLIC COMMENT: There was no public comment.
APPROVAL OF MEETING MINUTES: April 25, 2017 Regular Meeting Minutes: The Board
reviewed the April 25, 2017 regular meeting minutes. A motion was made by Trustee Erb and seconded
by Trustee Halachoulis to approve the April 25, 2017 regular meeting minutes as written. Motion carried
unanimously by voice vote.
AYES: Trustees Halachoulis, Gliner, Saviano and Erb
NAYS: None
ABSENT: Trustee Hoskinson
Semi -Annual Review of Closed Session Meeting Minutes: There were no closed session meeting minutes
for review.
TREASURER'S REPORT: Quarterly Financial Report: The Board reviewed the Financial Statement
prepared by Trustee Erb for the quarter ending June 30, 2017. The total market value of the fund as of
06/30/2017 is $65,913,656.00 with an unrealized gain of $60,634.00. The report also included a
summary of all investment activity for the quarter, and a detailed schedule of investment holdings as of
06/30/2017. A motion was made by Trustee Halachoulis and seconded by Trustee Gliner to accept the
Quarterly Financial Report as prepared by Trustee Erb. Motion carried unanimously by voice vote.
Presentation and Approval of Bills: The Board was presented with the Vendor Disbursements Report for
the period April 1, 2017 through June 30, 2017, for a total disbursement of $44,246.17. A motion was
made by Trustee Saviano and seconded by Trustee Halachoulis to approve the disbursement shown on
the Vendor Disbursements Report as presented. Motion carried by roll call vote.
AYES: Trustees Halachoulis, Gliner, Saviano and Erb
NAYS: None
Mount Prospect Police Pension Fund
Minutes of Meeting — July 25, 2017
Page 3 of 4
OLD BUSINESS: Status of Creditable Service Purchase — Officer Mike Meister: The Board noted that
Officer Mike Meister is not eligible to purchase additional service time utilizing excess contributions,
but he has been given the option to purchase military time. As of July 25, 2017, the Board has not
received any response from Officer Meister. No further action is needed at this time.
NEW BUSINESS: Discussion/Possible Action on Pension Fund File Security: The Board discussed
purchasing new file cabinets for the Fund. Trustee Erb will research what type of file cabinets are
appropriate and how many are needed to purchase. Further discussion will be held at the next regular
meeting.
Portability Update — Dirk 011ech: The Board discussed Dirk 011ech's transfer of creditable service. A
motion was made by Trustee Erb and seconded by Trustee Halachoulis to accept Dirk 011ech's transfer
as paid in full in the amount of $215,981.08 from the Bensenville Police Pension Fund to the Mount
Prospect Police Pension Fund and to revise Dirk 011ech's hire date from April 16, 2001 to January 10,
1996. Motion carried by roll call vote.
AYES: Trustees Halachoulis, Saviano, Gliner and Erb
NAYS: None
ABSENT: Trustee Hoskinson
Certify Board Election Results — Active Member Position: Lauterbach & Amen conducted an election
for one of the Active Member positions on the Mount Prospect Police Pension Fund Board of Trustees.
Joe Gliner ran unopposed and was elected by acclamation for a two-year term expiring April 30, 2019.
A motion was made by Trustee Halachoulis and seconded by Trustee Erb to certify the Active Member
election results. Motion carried unanimously by voice vote.
Board Officer Elections — President, Vice President, Secretary & Assistant Secretary: The Board
discussed Board Officer Elections. A motion was made by Trustee Saviano and seconded by Trustee Erb
to elect Tony Halachoulis as President. Motion carried unanimously by voice vote.
A motion was made by Trustee Halachoulis and seconded by Trustee Erb to nominate Dennis Saviano
as Vice President. Motion carried unanimously by voice vote.
A motion was made by Trustee Halachoulis and seconded by Trustee Erb to nominate Tom Hoskinson
as Board Secretary. Motion carried unanimously by voice vote.
A motion was made by Trustee Halachoulis and seconded by Trustee Erb to elect Joe Gliner as Assistant
Secretary. Motion carried unanimously by voice vote.
FOIA Officer and OMA Designee: The Board discussed the FOIA Officer and OMA Designee. A
motion was made by Trustee Halachoulis and seconded by Trustee Erb to elect Trustee Halachoulis as
the OMA Designee and Trustee Hoskinson as the FOIA Officer. Motion carried by roll call vote.
AYES: Trustees Halachoulis, Saviano, Gliner and Erb
NAYS: None
ABSENT: Trustee Hoskinson
(Tom Sawyer left the meeting at 2: 59 pm)