Loading...
HomeMy Public PortalAbout2012-04-12 Police Pension Board Minutes MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING ON APRIL 12 , 2012 LAW ENFORCEMENT CENTER 14300 COIL PLUS DRIVE PLAINFIELD, IL 60544 CALL TO ORDER: The meeting was called to order by Pres . Caliendo at 6:34 P.M. ROLL CALL : Present : Pres . J. Caliendo, Sec. R. Meszaros, Trustees S. Cousins , J. Cook Absent: Trustee P. Hines, Karen Ivlow, Treasurer , and Barb Kujath, Board Clerk Guests Present: Tom Sawyer , John Falduto & Dave Harrington of Sawyer -Falduto Asset Management LLC, Rick Rei mer, Attorney, AllisonBarrett, Lauterbach& Amen, LLP Members Present : None Approval of Minutes: A motion was made by Pres. C aliendo to approve the minutes of the January 12, 2012 meeting, s econded by Trustee Cook . Voice vote taken. Motion carried. Public Comment: None Treasurer/Investment Reports: None Approval of Disbursements : None Applicat ion for Membership – None Applications for Benefits : Anthony Novak’s request for transfer of service from the City of Chicago pension to the Plainfield Police Pension Fund should be completed by May 31, 2012. Charles Sacco’s request for his 20 year pensi on beginning in January 2013. There are some discrepancies in the base salary and last day of employment. Jim Caliendo will look into it. Old Business: A motion was made by Trustee Cook and seconded by Sec. Meszaros to amend the total disbursements f or the 3 rd quarter 2011 from $160,173.36 to $212,328.86. Roll Call vote: J.Caliendo -Yes, R. Meszaros -Yes, S. Cousins -Yes and J. Cook -Yes. Motion carried. MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING APRIL 12, 2012 PAGE 2 A motion was made by Trustee Cousins and seconded by Trustee Cook to amend the total disbursements for the 4th quarter 2011 from $118,406.48 to $67,534.85. Roll Call vote: J. Caliendo -Yes, R. Meszaros -Yes, S. Cousins -Yes and J. Cook -Yes. Motion passed. Accepted the cor rected Cash and Investment Report dated 12/31/2011. Update on the Investment Policy. Trustee Cousins asked that this item be tabled until the next meeting. He will meet with Tom Sawyer to discuss changes. The Investment Policy will be presented for app roval at the next Board meeting. Todd Schroeder wa s not available so there was no discuss ion on the tax levy for the Village’s pension contributions. Allison of Lauterbach & Amen will contact Todd and arrangements will be made to meet with the Finance Di rector or Village Administrator at the Plainfield Village Hall. We will be notified of the meeting date. New B usiness: A new services agreement from Lauterbach & Amen, LLP for the year end April 30, 2013 was presented. A motion was made by R. Meszaro s and seconded by J. Caliendo to approve the new monthly fee of $135 for Benefits Administration, $115 Annually for Payroll Tax Returns. Actuarial Services will be Upon Request Annually. Total Annual Fees $1,735. Also, Allison presented the January 2012 monthly invoices for payment for $130.00. A motion was made by R. Meszaros and seconded by J. Caliendo to approve these two items. Roll Call vote. J. Caliendo -Yes, R. Meszaros -Yes, S. Cousins -Yes and J. Cook -Yes. Motion carried. Ballots went out for n ominations for an active member to serve on the Plainfield Police Pension Board for a 2 year term. The election will be April 16, 2012. We had two nominees Richard Meszaros and Mark Siegel. Mark Siegel withdrew his nomination for personal reasons. With only one nominee after his withdraw al Richard Meszaros will serve another term on the Pension Board beginning May 1, 2012 – April 30, 2014. No election will be held. Before Tom Sawyer and John Falduto presented the I nvestment Performance R eport for the 1st Quarter of 2012 th ey introduced Dave Harrington, a new associate in their firm. Dave joined them a few weeks ago. Tom and John have worked with Dave for many years at Old Kent and then at Oak Brook Bank. Dave has over 20 years of investment experie nce and Tom and John a re happy that he was able to join them. Dave will be attending meetings as need with Tom or John. The Board welcomed Dave and is looking forward to working with him. Tom Sawyer presented the Investment performance Report for the 1 s t Quarter 2012. Tom corrected an error under Tab 4 in the Portfol i o Allocation Box . Equity shown as 46.6% this MINUTES OF THE PLAINFIELD POLICE PENSION BOARD APRIL 12, 2012 PAGE 3 should be 51.9% which changes the Fixed Income at 46.6%. After some d i scussion a motion was made by Trustee Cousins to accept the Investment Performance R eport for the 1st Quarter 20 12 as presented. Seconded by Trustee Cook. Roll call vote. J. Caliendo -Yes, R. Meszaros -Yes, S. Cousins -Yes and J. Cook -Yes. Motion carried . The complete report will be on file in the pension office for review . Attorney Report: Rick Reimer reported on the non -duty disability pension request from Officer Glen Sandmire. Officer Sandmire has seen three doctors and Rick has rece ived all the doctor ’s reports. Rick furnished hearing exhibits to Board members and directed the Board NOT to discuss anything until the hearing. A special meeting needs to be scheduled as soon as possible. Two suggested dates ar e May 14, 2012 or May 15, 2012 at 1830 hours at the Plainfield Law Enforcement Center on Coil Plus Dr., Plainfield, IL . Rick asked about reviewing the Administrative Rules/Regulations. Trustee Cousins said that he believed that we just completed that recently but didn’t have the document with him to verify it. We can address this item at the next meeting. Trustee Cook asked about liability insurance for trustees. Rick gave the Board some names and websites to check on obtaining insurance. He also stated that now it is an appro ved expense for the pension fund. Trustee Cook will get estimates and present them at the next meeting. Rick said that we will need the most recent financial audit and actuary report. CLOSED SESSION – None ADJOURNMENT – Trustee Cook motioned to adjou rn at 7:44 p.m. seconded by Trustee Cousins . Voice vote taken. Motion carried. Respectfully submitted: __________________________ _________________________ _________ Barb ara Kujath Richard Meszaros Board Clerk Secretary, P lainfield Police Pension Fund