HomeMy Public PortalAbout07-11-13 Police Pension Board Meeting Minutes MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING ON JULY 11 , 2013 LAW ENFORCEMENT CENTER 14300 COIL PLUS DRIVE PLAINFIELD, IL 60544 Call to Order : The meeting was called to order by Sec. R. Meszaros at 6:32 P.M Roll Call : Present : Sec. R. M eszaros, Trustee s M. Fisher and A. Grod Absent: Vice -Pres. J. Cook, Trustee S. Cousin and Karen Ivlow, Treasurer Guests Present: Tom Sawyer , John Falduto of Sawyer -Falduto Asset Management LLC, Rick Rei mer, Atto rney , Allison Barrett and Amy Price of Laut erbach&Amen, LLP Approval of Minutes: A motion was made by Sec. R. Meszaros and s econded by Trustee A. Grod to table the approval of the minutes of the April 11 th and 22 nd , 2013 meeting s until the Oct ober meeting due to the two new trustees had not been present at the April meetings. Voice vote taken. Motion carried. Public Comment - None Treasurer ’s Report : A motion was made by Sec. R. Meszaros and seconded by Trustee M. Fisher Roll to approve th e Monthly Financial Reports for April and May 2013 as presented. Roll call vote: R.Meszaros -yes, M. Fisher -yes, A.Grod -yes. Motion carried. Application for Membership – None Applications for Benefits – None Unfinished Business: There was a question a bout who files the Annual Treasurer’s Report that was due in May. Mr. Reimer stated that it is the Village Treasurer that is responsible for filing the report with the Village of Plainfield. New Business: Election of Board Officers : Sec. R.Meszaros made a motion and presented a slate of nominees for office as follows: President – Jeffrey Cook, Vice President – Michael Fisher, Secretary – Richard Meszaros and Asst. Secretary – Andrew Grod. Motion seconded by Trustee M. Fisher. Voice vote taken. Motion carried. Nominations were closed with a motion by Sec. R. Meszaros and seconded by Trustee A. Grod. Voice vote was taken to accept the slate of officers as presented. Motion carried.
MINUTES OF THE PLAINFIELD POLICE PENSION BOARD MEETING JULY 11, 2013 PAGE 2 The Board needed to designate new signers on the local Harris Bank checking account. A motion was made by Sec. R. Meszaros to designate Pres. J. Cook, Secretary R. Meszaros and Vice President M. Fisher as new signers. Motion seconded by Trustee A. Grod. Roll call vote taken: R. Meszaros – yes, M. Fisher – yes, A. Grod – yes. Motion carried. Tom Sawyer and John Falduto presented the Investment Performance Report for the 2 nd Quarter of 2013. After some discussion a motion was made by Sec. R. Meszaros to approve the Investment Performance Report as presented. Motion seconded by Trustee M. Fisher. Roll Call vote taken: R. Meszaros -yes, M. Fisher -yes, A. Grod -yes. Motion carried. The complete report will be on file in the pension office for review . The Board decided to again contract Lauterbach & Amen, LLP to prepare the annual actuary report for the Board. Allison Barrett of Lauterbach & Amen, LLP quoted the cost to remain the same as last year $1700. A motion was made by Sec. R. Mesz aros, seconded by Trustee M. Fisher to accept the $1700 cost of the report. Roll call vote taken: R. Meszaros – yes, M. Fisher – yes, A. Grod – yes. Motion carried. Review of Trustees’ annual training. Pres. J. Cook and Sec. R. Meszaros are up to date with training. Attorney Reimer explained the training requirements for new trustees. Each has to complete 32 hours of training by August 2014. There are on -line classes as well as classes held in Naperville and Hoffman Estate for the certification. Al so, Mr. Reimer told them that they have to get a certification in the Open Meeting Act. This also is on -line. The certification must be completed every year. Attorney Report: Attorney Reimer commented on the publishing of closed meeting minutes that are currently on file. Since we did not have a full Board it was recommended that we table this action until the October meeting. Sec. Meszaros motioned to table this item un til our next meeting in October, s econded by Trustee M. Fisher. Voice vote taken. Motion carried . Mr. Reimer also pointed out some recent legislative updates that are in his newsletter that might be of interest to the Board. All trustees received a copy of the newsletter. CLOSED SESSION – None ADJOURNMENT – A motion was made by Sec. Meszaros and seconded by Trustee M. Fisher to adjourn meeting at 7:40 p.m. Voice vote taken. Motion carried. Respectfully submitted: __________________________ _________________________ _________ Barb ara Kujath Richard Meszaros B oard Clerk Secretary, Plainfield Police Pension Fun d