HomeMy Public PortalAbout07-10-14 Police Pension Board Meeting Minutes
MINUTES OF THE PLAINFIELD POLICE PENSION BOARD
MEETING ON JULY 10, 2014
LAW ENFORCEMENT CENTER
14300 COIL PLUS DRIVE
PLAINFIELD, IL 60544
CALL TO ORDER: The meeting was called to order by Sec. R. Meszaros at 6:39 P.M
ROLL CALL: Present: Sec. R. Meszaros, Trustees M. Fisher and A. Grod
Guests Present: Tom Sawyer, John Falduto of Sawyer-Falduto Asset
Management LLC, Attorney Rick Reimer of Reimer&Karlson, LLC , and
Derek Flessner and Todd Schroeder, EA of Lauterbach & Amen LLP
Absent: Pres. J. Cook and Trustee S. Cousins
Members Present: None
Approval of Minutes:
A motion was made by Trustee Fisher to approve the minutes of the April 10, 2014 meeting
as presented. Seconded by Trustee Cousins. Voice vote taken. Motion carried.
A motion was made by Trustee Fisher to approve the minutes of the Special Meeting on June
11, 2014 as presented. Seconded by Trustee Grod. Voice vote taken. Motion carried.
A motion was made by Trustee Fisher to approve the minutes for the Special Meeting on July
1, 2014 as presented. Seconded by Trustee Grod. Voice vote taken. Motion carried.
Public Comment: None
Financial Reports:
A motion was made by Trustee Fisher and seconded by Trustee Grod to approve the monthly
financial reports through May 2014 as presented. Roll call vote: R.Meszaros-yes, M.Fisher-
yes, A. Grod-yes. Motion carried.
The complete report will be on file in the pension office for review
Application for Membership: Trustee Fisher motion to accept Officer Sean Kozak into the
Plainfield Police Pension Fund as of May 5, 2014. Motion seconded by Trustee Grod. Voice
vote taken. Motion carried.
Application for Benefits:
A motion was made to continue benefits for Andrew Grod and Glen Sandmire based upon
findings pursuant to annual physician certifications. Motion by Trustee M. Fisher and
MINUTES OF THE PLAINFIELD POLICE PENSION
MEETING JULY 10, 2014
PAGE 2
Application for Benefits continued:
Seconded by Trustee R. Meszaros. Roll call vote. M. Fisher-yes, A. Grod-yes and R.
Meszaros-yes. Motion carried.
Unfinished Business:
Todd Schroeder of Lauterbach & Amen presented the Actuary Report dated April 30, 2014.
As a result of the report it is recommended that this year’s contribution be $902,602. The
Board will accept this report at the October 9, 2014 meeting and Mr. Reimer will then
submit a letter recommending $902,602 to the Treasurer of Village of Plainfield. The Board
will discuss possibly changing rate of return (7.5% to 7.25% to 7%).
Derek Flessner of Lauterbach & Amen presented the DOI Report that will be submitted to
the State of Illinois by October 31, 2014.
New Business:
The Board election was held and the results are as follows:
President – Jeffrey Cook
Vice-President – Michael Fisher
Secretary – Richard Meszaros
Asst. Secretary – Andrew Grod
A motion was made by Trustee Meszaros and seconded by Trustee Fisher to accept the
election results as shown above. Voice vote. Motion passed.
Tom Sawyer presented the Investment Performance Report for the 2nd Quarter 2014. After
some discussion a motion was made by Trustee Fisher and seconded by Trustee Grod. Roll
call vote: M.Fisher-yes, R.Meszaros-yes, A.Grod-yes. Motion carried.
The complete report will be on file in the pension office for review.
Greg Kiesewetter of Cook Castle Associates, LLC presented a Fiduciary Liability Proposal for
renewal as of August 1, 2014. Greg stated that we would be staying with Hudson Insurance
Company and the annual premium will be $6,295. This is an increase of $140.
A motion was made by Trustee Fisher and seconded by Trustee Grod to accept the annual
premium of $6,295 for August 1, 2014 to July 30, 2015. Roll call vote: M. Fisher-yes, R.
Meszaros-yes and A.Grod-yes. Motion carried.
Attorney Report:
Mr. Rick Reimer presented and distributed some legal and legislative updates that have
happened since our last meeting.
MINUTES OF THE PLAINFIELD POLICE PENSION
MEETING JULY 10, 2014
PAGE 3
Closed Session: None
Adjournment:
With no further business a motion was made by Trustee Fisher and seconded by Trustee
Grod to adjourn. Voice vote taken. Motion carried. Meeting adjourned at 8:20 p.m.
Respectfully submitted:
__________________________ _________________________ _________
Barbara Kujath Richard Meszaros
Board Clerk Secretary, Plainfield Police Pension Fund