HomeMy WebLinkAbout01/18/1988 FFPB Minutes33
MINUTES OF THE REGULAR MEETING OF THE
MOUNT PROSPECT FIREMENS PENSION FUND BOARD
JANUARY 18, 1988
CALL TO ORDER
President Cavello called the meeting to order at 8:25 A.M..
ROLL CALL
Present upon roll call: Edward Cavello, Fire Chief/President
Richard Jesse, Treasurer
Delbert Ulreich, Firefighter
Randy Werderitch, Firefighter
Donald Barra, Retired Firefighter
Carol A. Fields, Village Clerk/Secretary
Stewart McKillop, Firefighter
Carolyn Krause, Mayor
Absent: Village Attorney
AUTHORIZATION FOR BENEFITS
Richard Jesse, seconded by Randy Werderitch, moved to consider an item
not on the agenda, namely authorization of death benefits to the family
of Harold Barra.
Upon roll call: Ayes: Unanimous
Motion carried.
It was noted that Lt. Harold Barra had died of a heart attach on
January 11, 1988 and that authorization is required to begin payment of
benefits to the surviving spouse Helen Barra.
The Death Certificate has been received and on file with the Secretary
of the Pension Board. In accordance with the IRS, Mrs. Barra is
entitled to a benefit of $1,243.57 per month. There are no dependent
children.
Richard Jesse, seconded by Randy Werderitch, moved to authorize
benefits to be paid to Helen Barra, surviving spouse of Lt. Harold
Barra, in the amount of $1,243.57 per month.
Upon roll call: Ayes: Unanimous
Motion carried.
Firemens Pension Fund
January 18, 1988
Page 2 of 3
APPROVAL OF MINUTES
The following minutes were presented for approval:
Regular meeting July 20, 1987
Special meeting August 7, 1987
Special meeting August 17, 1987
Special meeting October 1, 1987
Special meeting October 19, 1987
Donald Barra, seconded by Richard Jesse, moved to approve the minutes
as presented.
Upon roll call: Ayes: Unanimous
Motion carried.
TREASURER'S REPORT
Carol Fields, seconded Steward McKillop, moved to accept the
Treasurer's Report.
Upon roll call: Ayes: Unanimous
Motion carried.
COMMITTEE REPORTS
Medical Committee
It was noted by Deputy Chief Ulreich that the next candidate for
firefighter/paramedic, Michael Clinard, is presently ungoing the
medical examinations. Mr. Clinard will be hired to fill the vacany
created by the death of Lt. Harold Harra.
Finance Committee
No report.
OLD BUSINESS
The By -Laws of the Pension Fund were distributed to the Board members
with a request to review them for possible revision and/or corrections.
It is hoped that further discussion on any suggestions for changes will
take place at the next regular meeting on April 18th.
E
Firemens Pension Fund
January 18, 1988
Page 3 of 3
NEW BUSINESS
Representatives from the financial firms of Sherman Lehman Bros and
Blunt Ellis & Loewi were in attendance to give proposals on pension
fund management.
A brief presentation was given, during which it was stated that these
management firms would suggest various investments and there is no fee
to the Pension Funds.
Chief Cavello stated that the Fund is being managed by Fred Neal, a
consultant hired by the Police and Fire Pension Boards. Also noted was
the fact that the Firemens Pension Fund is in excellent financial
condition. It was suggested that these representatives come back at
the next regular meeting of the Board, April 18th, when additional time
will be alloted for their presentation.
Richard Jesse .stated that the Fund can expect to receive a bill from
Kerrison and Byrne for services rendered in calculating the taxable and
non-taxable amount that each retiree of beneficiary is responsible for.
The charge will be split between the Fire and Police Pension Funds, due
to each fund requiring the same service.
ADJOURNMENT
Richard Jesse, seconded by Randy Werderitch, Ulreich, moved to adjourn
the meeting.
Upon roll call: Ayes: Unanimous
Motion carried.
The meeting was adjourned at 9:13 A.M.
Carol A. Fields
Secretary