HomeMy WebLinkAbout04/20/1987 FFPB MinutesMINUTES OF THE REGULAR MEETING OF THE
MOUNT PROSPECT FIREMENS PENSION FUND BOARD
APRIL 20, 1987
CALL TO ORDER
In the absence of President Cavello, the Secretary called the
meeting to order at 8:15 A.M..
ROLL CALL
Present upon roll call: Richard Jesse, Treasurer
Delbert Ulreich, Firefighter
Ron Olsen, Firefighter
Donald Barra, Retired Firefighter
Carol Fields, Secretary/Village Clerk
Absent: Carolyn Krause, Mayor
Edward Cavello, Fire Chief/President
Randy Werderitch, Firefighter
Village Attcrney
Richard Jesse, seconded by Donald Barra, moved to nominate Del
Ulreich as President Pro -Tem.
Upon roll call: Ayes: Unanimous
APPROVAL OF MINUTES
Donald Barra, seconded by Richard Jesse, moved approve the
minutes of the regular meeting of the Fund held January 20, 1987.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
TREASURER'S REPORT
Richard Jesse, Treasurer, presented the Treasurer's Report
indicating a portfolio balance of $13,189,475.00.
Carol Fields, seconded by Donald Barra, moved to accept the
Treasurer's Report.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
Firemens Pension Fund
April 20, 1987
Page 2 of 5
COMMITTEE REPORTS
Medical Committee
No report.
Finance Committee
No report.
OLD BUSINESS
Pursuant to the direction given at the last regular meeting, the
Secretary was requested to order copies of the Illinois Public
Pension Newsletter printed quarterly. The cost for sufficient
copies for the Boa ----d members hA $45.00 per year.
Ron Olsen, seconded by Richard Jesse, moved to authorize an
expenditure of $45.00 for the annual subscription to the Illinois
Public Pension Newsletter.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
NEW BUSINESS
A request was submitted by Firefighter Kenneth Schmidt on
April 16, 1987, for retirement benefits. Firefighter Schmidt is
50 years of age (date of birth 11/11/36) and became a sworn
member of the Fire Department on April 1, 1967, giving him 20
years of service. The retirement would be effective June 6,
1987.
Donald Barra, seconded by Ron Olsen, moved to grant the requested
retirement benefit to Firefighter Kenneth effective June 6, 1987,
Firemens' Pension Fund
April 20, 1987
Page 3 of 5
with the benefits to be as follows:
Base Salary:
Advanced Firefighter:
Longevity (last paid 12/11/86):
$30,460.00
750.00
600.00
$31,810.00
$31,810.00 divided by 12 months = $2,650.83
Monthly salary of $2,650.83
x 50% for 20 years of service
Additional amount for month of service
over 20 years @ 1/12 of 2%:
«�..��.. .00166667 = .00333334
.00333334 x #1,1325.42 =
Monthly Pension:
$1,325.42
$ 4.42
$1,329.84
An election was held for one sworm member of the Fire Department
to serve a three (3) year term to the Pension Board Fund, the
position presently held by Ron Olsen. The following personnel
ran for office with the votes noted for each candidate:
Ballots Cast: 55
William Brelle
2
Donald Burger
10
Robert Clark
2
Ronald Olsen
41
Carol Fields, seconded by Richard Jesse, moved to accept the
results of the election and declare Ronald Olsen the newly
elected member of the Mount Prospect Firemens' Pension Fund Board
for a term to expire April, 1990.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
Ron Olsen took his seat on the Board.
Firemens' Pension Fund
April 20, 1987
Page 4 of 5
The audit of the Fund conducted by the State of Illinois,
Department of Insurance was presented, a copy of which is
attached to these minutes. Several items were brought up as
exceptions by the Department of Insurance. A letter was drafted
in response to these exceptions, a copy of which is also
attached.
Donald Barra, seconded by Ron Olsen, moved to acknowledge receipt
of the Report and authorize sending the letter from the Fund
responding to the exceptions noted.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
Del Ulreich requested the Fund secure a legal opinion from the
Village Attorney on the following points:
1. Whether or not the amount of money received by a
firefighter, specifically Robert Kooiker, receiving a duty
incurred disability pension should be offset in view of any
worker's compansation benefits; and
2. Whether a firefighter having served 20 years on the Fire
Department and attained the age of 50 receiving a non -duty
incurred disability pension can convert to a regular
retirement pension and receive the salary attached to his
rank at the date his 'retirement' pension is requested; and
3. Whether a firefighter receiving a disability pension who has
not served on the Fire Department 20 year and was not 50
years of age at the time the disability pension was granted
can convert to a regular 'retirement' pension at the salary
attached to his rank at the date his 'retirement' pension is
request.
Items 1 and 2 are mentioned in the State's audit.
Firemens Pension Fund
April 20, 1987
Page 5 of 5
Don Barra, seconded by Ron Olsen, moved to authorize securing a
legal opinion on the questions set forth above.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
ADJOURNMENT
Donald Barra, seconded by Richard Jesse, moved to adjourn the
meeting.
Upon roll call: Ayes: Unanimous
Nays: None
Motion carried.
The meeting was adjourned at 8:41 A.M.
Carol A. Fields
Secretary