HomeMy Public PortalAbout2010-10-21 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 OCTOBER 21, 2010 OCTOBER 21, 2010 OCTOBER 21, 2010 OCTOBER 21, 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 res. Caliendo at 6:30 P.M. ROLL CALL ROLL CALL ROLL CALL ROLL CALL: Present : Present : Present : Present:::: Pres. J. Caliendo, Sec. R. Meszaros, Trustees P. Hines, J. Ginejko, S. Cousins and Treasurer K aren 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 and retiree Donald Bennett PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS PRESIDENTIAL COMMENTS: Pres. Caliendo reported on the IPPFA Annual Conference that he attended earlier in October. He thought that it was a very good conference. He said that there were around 900 attendees. This was largely du e to the mandatory 16/32 hrs. of training for trustee. Pres. Caliendo updated the Bo ard on Officer Dawn Fliszar who was laid off in October 2009. Dawn had transferred her servic e from Lancing PD and was scheduled to pay back her portion to us over the next 5 years. We have been notified that since Dawn did not continue paying us that she has lost her 9+ yea rs of service. We will be working with Lauterbach & Amen, LLP to resolve this matter. 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 October 21, 2010 w as made by S. Cousins and seconded P. Hines. Voice vote taken. Motion carri ed. P. Hines made a motion to approve the minutes of the July 15, 2010 meeting, Motion was seconded by Pres. J. Caliendo. Voice vote taken. Motion carried. A motion to approve revenue and expenditure reports for July, August and September and the Cash & Investments Report. Motion was made by Pr es. J. Caliendo. Trustee Cousins questioned the Board about the need of the checking acc ount at the local Harris Bank. The Board will discuss this matter with investment group. Motion was then seconded by P. Hines. Roll Call vote: Pres.Caliendo – yes, Sec. Meszaros – yes, Trustees P. Hines – yes. S. Cousins – yes and J. Ginejko - yes. Motion carried . The schedule for the 2011 meetings of the Plainfield Po lice Pension Board was presented. A motion was made by Pres. J. Caliendo and seconded by Sec. R. Meszaros. Voice vote taken. Motion carried.
PLAINFIELD POLICE PENSION PLAINFIELD POLICE PENSION PLAINFIELD POLICE PENSION PLAINFIELD POLICE PENSION BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 PAGE 2 PAGE 2 PAGE 2 PAGE 2 The Board heard the investment report for the 3 rd quarter of 2010 from Tom Sawyer and John Falduto of Sawyer-Falduto Asset Management, LLC . Trustee S. Cousins asked if JP Morgan transferred all the funds over to Charles Schwa b. John Falduto reported that all funds have been received. After some discussion abou t the economy and investments the question again came up concerning the local checking account at Harris Bank. It was stated by Pres. Caliendo that the only activit y in this account is the automatic deposits of our property taxes which we have to monitor and tra nsfer out to Schwab and a few miscellaneous expenses. The question was asked if t hese deposits could go directly to our Schwab MMA. John Falduto said yes all we have to do i s notify the County and change the account to Schwab. The Board directed Barb Kujath to c ontact the Will County Treasurer’s office and prepare the paperwork for Pres. Caliendo’s signature to change the account to Schwab. There was a motion by P. Hines to adjourn the busines s meeting for an Administrative Hearing for Donald Bennett’s retirement claim and t o reconvene. The motion was seconded by Pres. Caliendo. Roll Call vote was taken: Pres. J. Caliendo-yes, Sec. R. Meszaros-yes, Trustees P. Hines-yes, J.Ginejko-yes, S. Cousins-ye s. Motion carried. The meeting was adjourned at 7:15 p.m. MINUTES OF THE ADMINISTRATIVE HEARING AND EXECUTIVE SESSIONTAKEN AND PREPARED BY COURT RECORDER. A motion to return to the regular business meeting w as made by P. Hines and seconded by S. Cousins. Roll call was taken: Present were: Pr es. J. Caliendo-yes, Sec. R. Meszaros-yes, Trustees P. Hines-yes, J. Ginejko-yes and S. Cousin s-yes. Motion carried. The regular business meeting reconvened at 10:30 p.m. The Board was now back in open session. The Board ne eded to order transcripts of tonight’s Administrative Hearing and Executive Sess ion from the court recorder. The Board will come back after reviewing the minutes at a late r date and will notify all concerned parties of the next meeting date.
PLAINFIELD POLICE PEN PLAINFIELD POLICE PEN PLAINFIELD POLICE PEN PLAINFIELD POLICE PENSION SION SION SION BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 BOARD MEETING OCTOBER 21, 2010 PAGE PAGE PAGE PAGE 3 3 3 3 S. Cousins made a motion to order the minutes of the Administrative Hearing and Executive Session from the court recorder. Recorder stated tha t it would be 2 or 3 weeks before the minutes would be completed. The Board accepted that time frame. Motion was seconded by P. Hines. Roll Call vote taken: Sec. R. Meszar os-yes, Trustees P. Hines-yes, J. Ginejko-yes, S. Cousins-yes. Motion Carried. With no further business P. Hines made a motion to ad journ and seconded by S. Cousins. Voice vote taken. Motion carried. Meeting was adj ourned at 10:32 p.m. Respectfully submitted, Barbara Kujath Richard Meszaros Board Clerk Secretary Plainfield Police Pension Plainfield Police Pensi on