HomeMy WebLinkAbout04/18/1988 FFPB MinutesMINUTES OF THE REGULAR MEETING OF THE
MOUNT PROSPECT FIREMENS PENSION FUND
APRIL 18, 1988
CALL TO ORDER
President Cavello called the meeting to order at 8:31 A.M.
ROLL CALL
Present upon roll call: Chief Cavello, President
Del Ulreich, Firefighter
Randy Werderitch, Firefighter
Richard Jesse, Treasurer/Comptroller
Carol A. Fields, Village Clerk/Secretary
Stuart Mc Killop, Firefighter
APPROVAL OF MINUTES
Richard Jesse, seconded by Del Ulreich, moved to approve the
minutes of the regular meeting January 18, 1988, the special
meetings of February 4, 1988, February 11, 1988, March 24, 1988.
There was discussion on the minutes of the March 24th meeting as
to whether there was a determination by members of the Pension
Fund Board that Dr. Magee's medical opinion reflected a
correctable condition for David Gold.
Upon roll call: Ayes: Cavello, Ulreich, Werderitch, Jesse,
Fields, Mc Killop
Nays: None
Motion carried.
TREASURER'S REPORT
The Treasurer stated that his report will be distributed at a
later date.
COMMITTEE REPORTS
Medical Committee
Inasmuch as David Gold has applied for duty incurred disability
pension and medical examinations have been scheduled, the Medical
Committee will distribute those reports as they are received.
Finance Committee
A request for authorization to executed a Custody Agreement with
UniBanc was submitted. This Agreement will authorize UniBanc to
hold securities when the Fund makes these types of transactions,
since the actual securities are not held by the Board.
Firemens Pension Fund Board
April 18, 1988
Page 2 of 3
It was noted that four authorizing signatures will be attached to
this account with any two permitting action.
Carol Fields, seconded by Randy Werderitch, moved for passage of
Resolution No. 1-88
Upon roll call: Ayes: Cavello, Werderitch, Mc Killop, Jesse,
Fields
Nays: Ulreich
Motion carried.
OLD BUSINESS
Representatives of the firms of Shearson Lehman and Hutton and
Blunt Ellis & Loewi gave presentations on managing the
investments for the Fund. Following the presentations there was
discussion among the Board members and it was the consensus of
opinion that the services presently being rendered by Herbert
Neil, as financial consultant to the Fund, have been very
satisfactory and no change is contemplated.
The current By -Laws of the Mount Prospect Firemens Pension Fund
were distributed, which By -Laws should be updated. In order to
give the members an opportunity to review and make
recommendations, this matter was deferred to the regular meeting
in July.
NEW BUSINESS
The results of the election for one member of the Pension Board
from within the active sworn members were presented as follows:
Donald Burger 16
Robert Clark 1
Brian Ipsen 18
Virgil Strzelecki 13
Raymond Young 16
Firemens Pension Fund Board
April 18, 1988
Page 3 of 3
Del Ulreich, seconded by Btuart McKillop, moved to accept the
results of the election and inasmuch as Brian Ipsen received the
greatest number of votes to declare him the newly elected member
of the Mount Prospect Firemens Pension Fund Board.
Upon roll call: Ayes: Cavello, Ulreich, Jesse, Mc Killop, Jesse,
Fields
Nays: None
Motion carried.
Brian Ipsen was authorized to be seated on the Board and Del
Ulreich stepped down. The Board expresses their appreciation to
Del for the 12 years of service on this Board.
ADJOURNMENT
Randy Werderitch, seconded by Carol Fields, moved to adjourn the
meeting.
Upon roll call: Ayes: Unanimous
Motion carried.
The meeting was adjourned at 9:41 A.M.
Carol A. Fields
Secretary