FIREFIGHTERS' PENSION BOARD MEETING
NORTH MAINE FIRE PROTECTION DISTRICT
DES PLAINES, ILLINOIS 60016-4236
MINUTES OF A REGULAR MEETING, February 17th, 2015
Call to Order
The regular meeting of the Pension Board was called to order by Firefighter/Paramedic Sackley at18: 43 hours
Roll Call
The following members were present:
FF/PM James Sackley
FF/PM Phil Faustrum
FF/PM Nick Rusz
Trustee Sharon McLaughlin
Trustee Dagmar Rutzen
Also Present: Bob Thompson, Michael Stuart and Ted Kirpach from MB Financial. Cary Collins of the law offices of Cary J. Collins and James Ritchie of Lauterbach and Amen.
Approval of Minutes
On a motion by Trustee McLaughlin, seconded by Trustee Rutzen the following minutes were approved by a unanimous vote: November 19, 2014
Treasurer’s Report
· Bob Thompson, Michael Stuart and Ted Kirpach presented the MB Financial report.
· James Richie went through the report from Lauterbach and Amen. Balance of all funds as of January 31, 2015 $18,019,225.32
· Trustee Rutzen submitted a list of bills for approval. Motion to approve the bills in the amount of $15,595.17 by McLaughlin, seconded by Rusz. Approved on a unanimous vote.
Attorneys Report
· Cary Collins reported to the board about current downstate pension issues.
Public Comments
· None
Presentations
· None
Old Business
· The North Maine Board of Trustees has notified the North Maine Pension Board that Trustee Rutzen has been reappointed for another term.
· Due to recent issues with credit card service the board has been advised by MB to open a new line of credit and will due so in the near future.
New Business
· Pension board updated of current audit. IDOI audit will occur during the week of February 23rd - 27th.
· Pension board advised of being named in a class action lawsuit with a former finical advisor.
· After reviewing current investment policy the board has decided to increase current equities to 45%. It was also decided that funding for the increase in equities would come from the incoming tax levy for the pension fund and maturing bonds. Motion made by Rusz seconded by Sackley. Roll call vote approved by a unanimous vote.
· After a review the pension board has approved the 2015 benefit increases for current retirees. Motion made by Rusz seconded by McLaughlin. Roll call vote approved by a unanimous vote.
· By appointment of President Sackley Trustee McLaughlin is the new OMA officer and FOIA officer.
· By appointment of President Sackley Trustee Rutzen was reappointed as the security administrator for the board.
· Board also notified of upcoming election for the retirees position. Mailings have gone out with few received back.
· Board advised by Lauterbach and Amen to obtain a GASB 67 report for the upcoming annual filling.
· The board adopted an affidavit of continuing eligibility service with Lauterbach and Amen. Motion made by Faustrum and seconded by McLaughlin. Roll call vote approved by a unanimous vote.
· Training report presented by Rusz and was reviewed by the board.
· The Board approved sending member to upcoming training in May. Motion made by Rusz seconded by McLaughlin.
Executive Session
· None
Vote on new members, pension renewals, or pension applications
· None
Adjournment
They’re being no other business before the Board, President Sackley motioned to adjourn, Trustee McLaughlin seconded, and the motion passed by unanimous vote. The meeting stood adjourned at 20:48 hrs.
Respectfully submitted,
FF/PM Nick Rusz, Pension Board Secretary
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