HomeMy Public PortalAbout2010-07-15 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 JULY JULY JULY JULY 15, 2010 15, 2010 15, 2010 15, 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 7 P.M. ROL ROL ROL ROLL CALL L CALL L CALL L CALL: Present : Present : Present : Present:::: Pres. J. Caliendo, Sec. R. Meszaros, Trustees P. Hines, J. Ginejko, S. Cousins Absent: Absent: Absent: Absent: Treasurer Karen Ivlow Members Members Members Members Present Present Present Present: None Guests Present: Guests Present: Guests Present: Guests Present: Allison Barrett of Lauterbach & Ame n, LLP, Tom Sawyer and John Falduto of Sawyer-Falduto Asse t Management, LLC PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS: Pres. Caliendo gave a brief explanation of why the hearing that was scheduled for tonight was canceled. The Board wi ll try to reschedule hearing. T TT TRUSTEE COMMENTS RUSTEE COMMENTS RUSTEE COMMENTS RUSTEE COMMENTS:::: None MEMBERS COMMENTS MEMBERS COMMENTS MEMBERS COMMENTS MEMBERS COMMENTS:::: None A motion to approve the agenda of July 15, 2010 was made by J. Ginejko and seconded P. Hines. Voice vote taken. Motion carried. P. Hines made a motion to approve the minutes of the April 15, 2010 meeting, Motion was made by J. Caliendo seconded by S. Cousins. Voice vote taken. Motion carried. A motion to approve the minutes of the Special Meetin g on May 25, 2010 was made by P. Hines and seconded by J. Caliendo. Voice vote take n. Motion carried. A motion to approve revenue and expenditure reports for April, May, June and Performance Report for fiscal year to date. Motion was made by Pres. J. Caliendo and seconded by Sec. R. Meszaros. Roll Call vote: Pres.Caliendo – yes, Sec. Meszaros – yes, Trustees P. Hines – yes. S. Cousins – yes and J. Ginejko - yes. Motio n carried.
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 July July July July 15, 2010 15, 2010 15, 2010 15, 2010 PAGE 2 PAGE 2 PAGE 2 PAGE 2 The Board had an election for officers and Officer Ja mes Caliendo was re-elected as President and Officer Richard Meszaros re-elected as Secretary. The vote was unanimous. The trustees thanked the officers for their hard work an d dedication to the Pension Board. Tom Sawyer and John Falduto asset managers for the eq uities portion of the pension portfolio reported on the 2nd quarter of 2010. Sawy er-Falduto firm was awarded the contract to manage the bond portion of the portfolio at the Special meeting on May 25, 2010. To date JP Morgan has not transferred the fun ds over to Charles Schwab. Pres. Caliendo spoke with JP Morgan on July 14, 2010 and v erified all the account information and the funds should be transferred in the next few we eks. The Board reviewed the Investment Policy and had no c hanges at this time. The Board voted to change the October 14, 2010 meeting to Thursday October 21, 2010 at 6:30 p.m. Motion was made by P. Hines and 2 nd by R. Meszaros. Roll call vote: Pres. J. Caliendo-yes, Sec. R. Meszaros-yes, P. Hines-yes, J . Ginejko,-yes, S. Cousins-yes. Motion carried. The Board discussed the checking held at Harris Bank in Plainfield. The account has a balance to date of $160,811.93. The Board agreed tha t $155,812 should be transferred to the pension’s Charles Schwab account. A motion was ma de by Pres. J. Caliendo to have the funds transferred to the Charles Schwab account in the amount of $155,812, 2 nd by P. Hines. Roll call vote: Pres. Caliendo-yes, Sec. M eszaros-yes, Trustees P. Hines-yes, J. Ginejko-yes, S. Cousins-yes. Motion carried. The B oard instructed Barb Kujath to contact Colleen Thornton of the Village of Plainfield to tran sfer the funds as soon as possible. With no other discussion a motion by P. Hines to adjo urn seconded by R.Meszaros. Voice vote taken. Motion carried meeting was adjourned a t 8:35 p.m. Respectfully submitted by: Barbara Kujath Richard Meszaros Board Clerk Board Secretary Plainfield Police Pension Plainfield Polic e Pension