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Home My Public Portal About2010-01-14 Police Pension minutes MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING MEETING MEETING MEETING JANUARY 14, 2010 JANUARY 14, 2010 JANUARY 14, 2010 JANUARY 14, 2010 LAW ENFORCEMENT CENTER LAW ENFORCEMENT CENTER LAW ENFORCEMENT CENTER LAW ENFORCEMENT CENTER 14300 COIL PLUS DRIVE 14300 COIL PLUS DRIVE 14300 COIL PLUS DRIVE 14300 COIL PLUS DRIVE PLAINFIELD, IL 60544 PLAINFIELD, IL 60544 PLAINFIELD, IL 60544 PLAINFIELD, IL 60544 CALL TO ORDER: CALL TO ORDER: CALL TO ORDER: CALL TO ORDER: The meeting was called to order by P resident Jim Caliendo at 6:36 P.M. ROLL CALL ROLL CALL ROLL CALL ROLL CALL: Present : Present : Present : Present:::: Pres. J. Caliendo, Sec. R. Meszaros, Trustees P. Hines, S. Cousins & J. Ginejko Others Present Others Present Others Present Others Present: Mr. Rick Reimer, Board Attorney, To m Sawyer and John Falduto of Sawyer Falduto Asset Mgmt A AA Absent: bsent: bsent: bsent: Asset Management Group JP Morgan PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS: Stated for the minutes that t here was no JP Morgan representative T TT TRUSTEE COMMENTS RUSTEE COMMENTS RUSTEE COMMENTS RUSTEE COMMENTS:::: None MEMBERS COMMENTS MEMBERS COMMENTS MEMBERS COMMENTS MEMBERS COMMENTS:::: None BUSINESS MEETING:BUSINESS MEETING:BUSINESS MEETING:BUSINESS MEETING: 1)1)1)1) SEEKING A MOTION TO AMEND AND APROVE THE AGENDA OF THE JANUARY 14, 2010 MEETING. P. Hines motioned to amend the agenda and add an ex ecutive session after the public hearing and to reconvene to the business meeti ng and approve amended agenda of January 14, 2010. Seconded by J. Ginejko. MOTION CARRIED MOTION CARRIED MOTION CARRIED MOTION CARRIED 2)2)2)2) SEEKING A MOTION TO APPROVE THE MINUTES OF THE OCT OBER 13, 2009 MEETING R. Meszaros motioned to approve the minutes of Octo ber 13, 2009. Seconded by S. Cousins. MOTION CARRIED MOTION CARRIED MOTION CARRIED MOTION CARRIED 3) 3) 3) 3) SEEKING A MOTION TO APPROVE THE REVENUE AND EXPENDI TURE REPORTS FOR OCTOBER, NOVEMBER AND DECEMBER 2009 and the Performance Report for fiscal year to date. Roll Call Vote: Roll Call Vote: Roll Call Vote: Roll Call Vote: Yes Yes Yes Yes----J.Caliendo, Yes J.Caliendo, Yes J.Caliendo, Yes J.Caliendo, Yes----R.Meszaros, Yes R.Meszaros, Yes R.Meszaros, Yes R.Meszaros, Yes----J.Ginejko, Yes J.Ginejko, Yes J.Ginejko, Yes J.Ginejko, Yes----P.Hines, P.Hines, P.Hines, P.Hines, Yes Yes Yes Yes----S.Cousins. MOTION CARRIED S.Cousins. MOTION CARRIED S.Cousins. MOTION CARRIED S.Cousins. MOTION CARRIED 4) 4) 4) 4) SEEKING A MOTION TO APPROVE THE BILLS PAYABL E AND BILLS PAID REPORTS AS OF JANUARY 14, 2010. . . . S. Cousins motioned to approve the bills payable and bills paid reports as of January 14, 2010, Seconded by P. Hine s. Roll Call Vote Roll Call Vote Roll Call Vote Roll Call Vote: Yes Yes Yes Yes----J.Caliendo, Yes J.Caliendo, Yes J.Caliendo, Yes J.Caliendo, Yes----R.Meszaros, Yes R.Meszaros, Yes R.Meszaros, Yes R.Meszaros, Yes----J.Ginejko, Yes J.Ginejko, Yes J.Ginejko, Yes J.Ginejko, Yes----P.Hines, Yes P.Hines, Yes P.Hines, Yes P.Hines, Yes----S.Cousins S.Cousins S.Cousins S.Cousins MINUTES OF TH MINUTES OF TH MINUTES OF TH MINUTES OF THE PLAINFIELD POLICE PENSION E PLAINFIELD POLICE PENSION E PLAINFIELD POLICE PENSION E PLAINFIELD POLICE PENSION BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 PAGE 2 PAGE 2 PAGE 2 PAGE 2 5) 5) 5) 5) SEEKING A MOTION TO APPROVE 2010 MEETING SCHE DULE. . . . Motion make by P.Hines, Seconded by S.Cousins. Motion carried.. Motion carried.. Motion carried.. Motion carried. OTHER BUSINESS:OTHER BUSINESS:OTHER BUSINESS:OTHER BUSINESS: Tom Sawyer of Sawyer Falduto Asset Management, LLC presented the 4th quarter cash flow and performance review, asset allocations/equity po rtfolio along with a market commentary. JPMorgan was not present to report on the performanc e of our Fixed Income investments for the 4th quarter. The Board discussed looking into asset management gr oups to take over our Fixed Income portfolio. S. Cousins made a motion to have Pres. J im Caliendo sent out Request for Qualifications (RFQ) to three (3) companies. Motion seconded by R. Meszaros. Roll Call vote: Yes-J.Caliendo, Yes-R.Meszaros, Yes-P. Hines , Yes-J.Ginejko, Yes-S.Cousins. Motion carried. B.Kujath will get sample RFQ forms for Jim to prepar e for mailing. We will include JPMorgan as one of the groups. It was recommended that we be sure that the candidates all have experience in Article 3 Funds. Next on the agenda was the Public Hearing for Officer Andrew Grod. Mr. Richard Reimer, Board attorney, conducted the public hearing and a co urt reporter took all the minutes. MINUTES PREPARED BY STATE OF ILLINOIS CERTIFIED SHO RTHAND REPORTER CAN BE OBTAINED AT THE PLAINFIELD POLICE PENSION OFFICE. Mr. Richard Reimer closed the Public Hearing. R.Mesz aros made a motion to return to the regular business meeting, seconded by P. Hines. Ro ll Call vote: Yes-J.Caliendo, Yes-R.Meszaros, Yes-J.Ginejko, Yes-P.Hines, Yes-S.Cousi ns. Motion carried. S.Cousins motioned to convene to an executive sessi on for Board discussion on Officer Grod’s disability case and directed court reporter to take all the minutes. Seconded by P.Hines. Motion carried. MINUTES PREPARED BY STAT E OF ILLINOIS CERTIFIED SHORTHAND REPORTER CAN BE OBTAINED AT THE PLAINFIEL D POLICE PENSION OFFICE. After some deliberating Pres. Jim Caliendo motioned to reconvene to the regular meeting to vote on the disability request, Seconded by J.Ginejk o. Roll call was taken. Yes-J.Caliendo, Yes-R.Meszaros, Yes-P.Hines, Yes-J.Ginejko, Yes-S.C ousins. Motion carried. MINUTES OF THE PLAINFIELD POLICE PENSION MINUTES OF THE PLAINFIELD POLICE PENSION MINUTES OF THE PLAINFIELD POLICE PENSION MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 BOARD MEETING JANUARY 14, 2010 PAGE PAGE PAGE PAGE 3 33 3 A motion was made by R.Meszaros and seconded by S.C ousins to approve the disability pension for Officer Andrew Grod. Roll Call vote wa s taken. Yes-J.Caliendo, Yes-R.Meszaros, Abstain-J.Ginejko, Yes-P.Hines, Yes—S.Cousins. Motion Carried. 4-yes, 1-abstension The next item on the agenda was a request for a retir ement pension for Chief Donald Bennett. P. Hines made a motion to authorize the co urt reporter to prepare a transcript of the discussion and vote on the request by Chief Donald Bennett for his retirement pension. Roll Call vote: J.Caliendo-Yes, R.Meszaros-Yes, J.Ginejko-Yes, P. Hines-Yes, S. Cousins-Yes. Motion carried. MINUTES PREPARED BY STATE OF ILLINO IS CERTIFIED SHORTHAND REPORTER CAN BE OBTAINED AT THE PLAINFIELD POLICE P ENSION OFFICE. A motion was made by P.Hine and 2 nd by S.Cousins to authorize Mr. R. Reimer to subpoena documents concerning Chief Bennett’s retirement. Ro ll call vote. Yes-J.Caliendo, Yes-R.Meszaros, Yes-P.Hines, Yes-J.Ginejko, Yes-S.Cousi ns. Motion carried. DISCUSSION:DISCUSSION:DISCUSSION:DISCUSSION: P. Hines had a question on Board travel/training. P res. J. Caliendo said that the Board always approved requests for travel/training on a c ase by case basis. The Board directed Barb Kujath to investigate the Village’s policy on tr avel/training and bring the information back to the April meeting. Pres. Caliendo stated that he would like to get quote s from accounting firms that serve Police Pension Boards with monthly pension disburseme nts and IRS reporting. He stated that it is time that we establish ourselves’ with a fir m so that there is continuity for pensioners even when the Board changes over the years. We have a few irregular pension payments i.e. disability and surviving spouse pensi ons, that have their own set of regulations and I believe that getting an outside firm that speci alizes in downstate pensions is the way to go. Pres. Caliendo stated that he will contact tw o (2) firms that he knows of from IPPFA conference and will have Barb notify Board after we meet with them. With no further discussion there was a request to adjourn. R.Meszaros motioned to adjourn 2 nd by P.Hines. Motion carried. Meeting was adjourne d at 8:32 p.m. Respectfully submitted, Barbara Kujath Richard Meszaros Board Clerk Secretary Plainfield Police Pension Board Plainfield Police Pension Board