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HomeMy WebLinkAbout2013 Elgin Fire Pension Fund Agendas & Minutes ELGIN FIREFIGHTERS PENSION BOARD '" IN THE MATTER OF ) THE CLAIM OF: ) ) 12 EFPB 1202 TIMOTHY BUELOW ) Applicant ) NOTICE OF HEARING December 19, 2012 To: Timothy Buelow c/o Elgin Firefighters Pension Board 550 Summit Street Elgin, IL 60120 Please be advised that the Elgin Firefighters Pension Board will conduct an administrative hearing on January 8, 2013 at 9:00 AM at Elgin City Hall, 150 Dexter Court, Room A, Elgin, Illinois regarding the Determination of Disability and possible egi,, restoration to active service. That the applicant may be represented by legal counsel and may provide testimony and evidence in support of his position on this matter to the Elgin Firefighter Pension Board. That the hearing is being conducted under the authority granted the Elgin Firefighter Pension Fund under Chapter 40 Act 5 Section 3 of the Illinois revised Statutes. Anthony Bialek, Secretary Elgin Firefighter Pension Board Elgin Firefighter Pension Board 550 Summit Street Elgin, IL 60120 • Elgin Fire Pension Fund Tuesday Feb. 26, 2013 Agenda 08:30am 1st floor Conference room South Wing Roll: • Present: • Absent: • Council: • Guests: Minutes: • Minutes, Tuesday, Oct. 30, 2012 • Meetings for 2013 (last Tuesday of every month except as noted.) 1/29,2/26,3/26,4/30,5/28,6/25,7/30,8/27,9/24,10/29,11/25,12,31 Treasurer' Report: • Marquette report • Real Estate • IRS issue (Allison Barrett) • Tax Levy Report State Secretary report: • Death of retired FF William Farmer 1/9/13 • Widow Pension Phyllis Farmer 1/10/13 • New FF Anthony McMeel 1/9/13 (33yr old) • Invoices: FMA Oct. Thru. Dec. 2012 $16,856.00 Collins and Radja Buelow hearing and reports 4,837.69 Anthony Bialek coffee and rolls for hearing 24.05 Collins and Radja retainer for Jan., Feb., March, 2013 900.00 Marquette Dec.2012 thru. Feb., 2013 7,500.00 INSPE (Buelow DR invoice) 2,370.00 Kathleen Bono (court recorder) 765.00 MVT Jan. March, 2013 14,558.00 [ Unfinished business: • Disability application process. FF Tim Buelow complete 1/8/13 completed • New Business: • New FF McMee Misc: • Adjournment: C C ELGIN FIRE PENSION FUND MINUTES February 26,2013 Meeting was called to order at 8:35 am by J. Henrici Roll Call: Present: A. Bialek,J. Nowicki, J. Henrici, R.Tripoli Treasurer: C. Lavery, Council Absent: M. Przybylski, Guest : W.Yucius, M. Piotrowski,Allison Barrett,Wes Levy Minutes Minutes of the Oct.30, 2012 meeting were read.AN exception was made to note that J.Nowicki was recused from approving the Treasurer Report. This would be done by the Secretary and filed as such.The motion was moved forward by A. Bialek,seconded by R.Tripoli. Carried. Meetings for 2013 would be on the last Tuesday of the month,unless otherwise posted. This was approved on a motion be A. Bialek,seconded by R.Tripoli. Carried. Treasurer Report W.Yucius went over the Bond portion of the portfolio and not much has changed since the last report. He went over the philosiphy of the Bond Market in detail.We are still remaining on a short term basis until things improve. M.Piotrowski went over 2012 investment highlights. Equities did very well,increasing @16%on the year. The Market seems very resilient and continuing that way.In the beginning of January, 2013,the fund continues to do well. Bonds,as stated before,remain on a short term basis until things change. DFA still remains an issue. After discussing the lacking in performance,a recommendation was made to take some $$ away and place in another fund. A number of funds were discussed in the Emerging market area. Narrowing it down to-2-,Templeton and Columbia were reviewed in greater detail. The final choice was Tempelton which is has been managed well,over the years reviewed. A motion was made on a recommendation from our Investment Advisors,to take 2 Y2%from DFA and move it to the new mutual fund of Tempelton. This would be approx.. $1.3 million, depending on the time of purchase.The motion was made by J.Nowicki, seconded by A. Bialek. Carried. Real Estate would be tabled till next meeting. Allison Barrett was present to talk about the IRS issue that has been going on for the past-6- months. Apparently this has happened to-6-of their clients. -2-of them have been resolved and she expects this to be also. It is a clerical error on the IRS part with them saying we have not deposited the right amount to them. Although the numbers are correct with Lauterbach and Amen,the IRS can't say where they are getting their numbers from. This is being monitored by them and they will report back to the Board as soon as it is finalized. A copy of the State'Tax Levy Report was handed out for review. This was to be used as a comparison for the Actuary'report to be reviewed at next meeting. - 1 - A motion was made to approve the Treasure's report,by A. Bialek, Seconded by R.Tripoli. Carried. Secretary Report Invoices submitted: Collins and Radja invoice Jan.thru Mar. 2013 $ 900.00 FMA invoice for Oct.thru Dec. 2012 16,856.00 Anthony Bialek for Notary supplies and registry 50.00?????? Collins retainer for the FF Buelow Disability proceedings 4,837.69 INSPE invoice for medical reviews 2,370.00 Kathleen Bono court recorder fees • 765.75 Marquette for Dec. 2012 thru Feb. 2013 7,550.00 A motion was made to approve them individually by R.Tripoli,seconded by A. Bialek. A second motion was made to approve the MVT invoice $14,558.00 for Jan.thru Mar. 2013. Carried. J.Nowicki recused from MVT vote. COLA increases were handed out for review. They had been reviewed by the Treasurer and rechecked by the Secretary. They take effect on Jan. 1a 2013 except as noted.A motion was made to approve these by J.Nowicki,seconded by IL Tripoli. Carried. Unfinished business. The Disability process of FF T. Buelow has been completed. New Business A letter was received from the offices of Duda on the Jakabauskas disability. Discussion centered on the status of her position with the City. She has been terminated from employment and the details of her termination were in question. It has been approx... -1-year since this has happened,with no response on FF Jakabauskas part. Many questions were brought including what is she claiming to be her disability and whether it is duty related or not. This would be tabled,again,until next meeting with the Boards attorney requesting documents of her situation. Lt. FF/Paramedic D. Roehrig submitted to the Board an application for regular retirement. His first day on pension will be March 2nd, 2013 with 23Yrs 2 months equaling 57.92%pension. His monthly amount will be$4,668.02.A motion was made to approve this request by R.Tripoli, seconded by A. Bialek. Carried. New F/F A.McMee submitted an application for entry into the Pension Fund. All required records have been received.He is presently attending the Fire Academy. A motion was made to admit him into the fund by A. Bialek,seconded by R.Tripoli. Carried. Misc. None Adjournment There being no further business, a motion was made to adjourn by A. Bialek, seconded by J. Nowicki. Carried. 9:25a. Attachments -2- MVT invoice filed. Marquette invoice filed. Bialek invoice filed. FMA invoice filed INSPE invoice filed INSPE invoice filed Collins invoice filed Collins invoice on Buelow disability filed A3/.2 /-3 Anthony Bialek, Recording Secretary Date approved -3 - Elgin Fire Pension Fund Tuesday Mar. 26, 2013 Agenda 08:30am 1st floor Conference room South Wing Roll: • Present: • Absent: • Council: • Guests: Minutes: • Minutes, Tuesday, Feb. 26, 2013 • Correction to the Feb.28, 2012 Schlesinger calculation. Should be $4399.36. Treasurer' Report: • Marquette report • Possible Real Estate investment Secretary report: • Establishment of a Fire Pension Clerk • IRS issue resolved • Lt. F/F Medic Roehrig calculation. 23yr 2mo. 57.92% $4668.02 • Unfinished business: • New Business: • Misc: • Adjournment: r ELGIN FIRE PENSION FUND MINUTES March 26, 2013 Meeting was called to order at 8:35 am by J. Henrici Roll Call: Present: A. Bialek,J. Nowicki, J. Henrici, R.Tripoli Treasurer: C. Lavery Council C.Collins Absent: M.Przybylski, Guest: M. Piotrowski Minutes Minutes of the February 26,2013 meeting were reviewed.Motion to accept was made by R. Tripoli,seconded by J. Nowicki.Carried A correction to the Feb. 28,2012 minutes was motioned to be made by A. Bialek,seconded by J. Nowicki. Carried.This concerned a type error for Retired Lt./FF J.Schlesinger amount approved for his pension. He is being paid the correct amount and it should be recorded as $4399.36 monthly. Treasurer Report Brief review of the portfolio was presented by M.Piotrowski. The fund did very well in 2012 and continues to do so in 2013. The emerging markets had a set back with the Cypress issue concerning their bailout. Otherwise the markets were improving steadily. Our fund is up to @$55 million. C. Lavery announced that the City moved $700K extra into the Police and Fire Pensions to improve the percent vested. The Actuary will give a report to the Board at the next meeting.Our goal is 7.75%funding and we are off to a good start.C. Collins gave examples of Municipalities that are behind and have been cited by the State for their failure to keep up. As Tax money has not come in yet,some dollars were moved into cash to pay for pensions. This is a good practice as it reduces Equity percentages to keep in line with our investment policy. It was announced that Robert resigned from FMA,recently and their CEO would be taking over his duties. Real estate fund purchases would be discussed at a later date. A motion was made to approve the Treasure's report,by A. Bialek,Seconded by R.Tripoli. Carried. Secretary Report Invoices submitted: Collins and Radja invoice Apr., May,June. 2013 $ 900.00 Marquette for Mar. 1 through May 31, 2013 7,550.00 A motion was made to approve them individually by R.Tripoli,seconded by A. Bialek. Carried. - 1 - Unfinished business. C.Collins reported that a letter was received from M.Jakabauskas attorney requesting she be sent to a number of doctors for evaluations. The question was asked again for what disability or injury was she claiming. After discussing the issue,it was decide to have the Boards'attorney schedule an appointment with a Psychologist, as a first step. This was motioned by J. Nowicki, seconded by A. Bialek.Carried. The"Board Pension Clerk position was discussed.It was decided that a salary of$600.00 would be the monthly rate that he would be paid,taxes to be the responsibility of that person. A motion was made to make A.Bialek the Elgin Fire Pension Board Clerk to do all administrative duties related to the pension Fund,by R.Tripoli,seconded by J. Nowicki.Carried. This would take effect May 1,2013. New Business The retired position on the Board,filled by R.Tripoli,is up at the end of April.He is interested in running again and the secretary will send out the notices to all retired members. An election will be held at the end of April 2013,if needed,to fill the-3-year term. Misc. None Adjournment There being no further business, a motion was made to adjourn by A. Bialek,seconded by J. Nowicld. Carried. 9:15a. Attachments Marquette invoice filed. Collins invoice filed Anthony Bialek, Recording Secretary Date approved -2- ELGIN FIRE PENSION FUND MINUTES May 28, 2013 Meeting was called to order at 8:30 am by J. Henrici Roll Call: Present: A. Bialek,J. Nowicki, J. Henrici, R.Tripoli,M. Przybylski, Treasurer: Council Absent: C. Lavery Guest: M.Piotrowski,W.Yucius, Lt. R.Hanks Minutes Minutes of the March 26, 2013 meeting were reviewed.Motion to accept was made by R.Tripoli, seconded by M.Przybylski.Carried Treasurer Report A review of the portfolio,for the ist quarter,was presented by M. Piotrowski. The fund is doing very well as the market improves. Bonds are lagging on income as there is not any place to put money,to get a decent return.The Corporate Bonds are doing better and we have @ 10%of the Fixed Fund invested in them. Review of the 1st quarter shows @6.5%increase return for the total fund. FMA has improved as expected and are above the bench mark. Rebalancing was not a concern as the money is paid out to annuitants and tax money received. -2- Recommendations were made to the Investment policy. The ability to invest more money into Corporate Bonds,presently 10%,up to 2o%of the Fixed portion of the fund. This would get a little more return in the Fixed area. Secondly,to increase the equity percentage to 65%,presently at 55%. This is within the statute limits and would not necessarily be done. However,having the ability to do it at times,would give the ability to be flexible as the Market dictates.These changes would be put forth to the Funds'attorney, C. Collins for review and presentation to the Board by the next meeting. A motion was made,J. Nowicki,seconded by R.Tripoli,to place the tax revenues,as they are received,and cash available,up to $1.5 million,into the equity portion of the fund,remaining within the guidelines as we have now.This carried.Nowicki recused. W.Yucius went over,briefly the difficulty with the Bond Funds. MVT is in line with being allowed the ability to increase the portion of Corporate Bonds invested in. Real-estate was discussed and there a few drawbacks to doing this. One,the possibility of losing what you have invested and having to make it up. REETs were discussed briefly as a possible option. Another option was PIMCO. This is a Real Estate Stock Fund.The liquidity is better with this. Nothing decided at this time. -2-invoices were submitted,; FMA covering April 1,through June 30,2013,for $18,064.00. IDOI Finance fee for 2013 8,000.00. A motion to approve them was made by A. Bialek,seconded by J.Nowicki. Carried - 1 - -1-invoice was received by MVT for$15,104.00 covering April 1,through June 30th. A motion was made to pay this by A. Bialek,seconded by M. Przybylsld. Carried. Nowicki recused. A motion was made to approve the Treasure's report,by A. Bialek, Seconded by R.Tripoli. Carried. Secretary Report Death of retired FF/Lt.A.Ross was reported. 4/28/13..No dependents left. Death of Widow L.Voigt. 4/9/13. No dependents left. Retired Board member was re-elected for another term. No one would be attending the IPPAC seminar in June but would be in Sept. in St.Charles,IL. A motion was made to approve them individually by R.Tripoli,seconded by A. Bialek Carried. Unfinished business. M.Jakabauskas New Business Fire Pension Clerk was formally approved on a motion by R.Tripoli,seconded by M. Pzybylski. Carried. A.Bialek abstaining.This will start on June 1st,paid monthly with the pension checks at the end of the month.A signed copy will be sent to Lauterbach and Amen and filed. New FF Nathan Botkin(28)was voted into the fund on a motion by A.Bialek,seconded by M.Przybylski.Carried.All documents have been received by the Secretary. T. Sharpe reviewed our Actuary report,with the Board,via phone conference. -3-major changes were incorporated into the report,from previous reports. These were changes required by the State. The major change was to the Mortality tables. This uses the 2000 RP Mortality rates vs.the 1984 rates. The City Tax Levy Requirement went up to $3.7 mil for 2013,as compared to $3.3mil in 2012. Although the percent funding went down from 55.6%to 53.5%T. Sharpe felt that with the City funding and FF contributions,we will be doing fine for the next-5-years. The expenses being paid out is being covered by the revenue brought in.Another big concern is the amount of FFs that could retire and receive a pension.Although this is not expected it does pose a problem if many members decide to leave all at once. The report would be filed for review,upon request. Misc. None Adjournment -2- There being no further business, a motion was made to adjourn by A. Bialek,seconded by J. • Nowicki. Carried. 9:35a. Attachments FMA invoice filed. MVT invoice filed State invoice filed. Actuary report filed Z,19 cb.c//-3 Anthony Bialek, Recording Secretary Date approved -3 - Elgin Fire Pension Fund Tuesday June'25, 2013 Agenda 08:30am 1st floor Conference room South Wing Roll: • Present: • Absent: • Council: • Guests: Minutes: • Minutes, Tuesday, May 28, 2013 Treasurer' Report: • Marquette invoice for June 1 through August 31, 2012 $7,750.00 Secretary report: • Coalition For Qualified Plan Status letter • Coalition For Qualified Plan Status invoice $300.00 • Pension training in St. Charles through IPPAC Sept. 3 and 4. (16 hours of required con-ed compliant) Unfinished business: • Possible Real Estate investment • Jakabauskas evaluation New Business: • Misc: • Adjournment: r ELGIN FIRE PENSION FUND MINUTES June 25, 2013 Meeting was called to order at 8:30 am by J. Henrici Roll Call: Present: A. Bialek, J. Nowicki, J. Henrici, R Tripoli,C. Lavery Treasurer: Council Absent: M. Przybylski Guest: M. Piotrowski Minutes Minutes of the May 28, 2013 meeting were reviewed. Motion to accept was made by R.Tripoli, seconded by A. Bialek. -1-correction to replace `Abstained'to`recused',concerning tax levy. Carried. Treasurer Report A review of the portfolio presented by M. Piotrowski, covered the volatility of the market,over the last-6-weeks. Although there was a dramatic change in the Bond market, our fund is @$57 mil. Still the issue as talked about before.The Fed has indicated that it will start to wind down the Bond and Mortgage buying,toward the end of the year. This in itself caused volatility. Otherwise the individual funds are performing well.The tax levy will be in at the end of the week and will be to work immediately. A motion was made to approve the Treasure's report,by A. Bialek, Seconded by R.Tripoli. Carried. -2-invoices were submitted; Marquette covering June 1,through August 31, 2013,for $7,750.00 Collins invoice for July through Sept. 2013. $900.00 A motion to approve them was made by A. Bialek, seconded by J.Nowicla. Carried. Secretary Report Coalition for Qualified Plan Status letter was presented to the Board.This covers the Tax status that the IRS requires,to keep the pension deductions deferred for the Police and Fire Pensions. The fee will be $300.00 and will cover the next-5-years. A motion was made to approve this by R.Tripoli,seconded by J.Nowicki. Carried. Unfinished business. Real estate. Nothing at this time. New Business A Physician report was received from Dr.Ostrov,concerning M.Jakabauskas disability process. The report was discussed briefly but,no decisions were made. Waiting on info to arrive from the - 1 - lawyers and how to proceed.A motion was made to pay the Bill from Dr. Ostrov for $3,918.75 for the examination,by A. Bialek,seconded by R.Tripoli. Carried. Misc. None Adjournment There being no further business,a motion was made to adjourn by A. Bialek,seconded by J. Nowicki. Carried. 9:15a. Attachments Marquette invoice filed. Collins invoice filed. Coalition invoice filed. Dr.Ostrov report filed 4 24,40 27a Anthony Bialek, Recording Secretary Dat app ved -2- • Elgin Fire Pension Fund Tuesday Aug. 27, 2013 Agenda 08:30am 1st floor Conference room South Wing Roll: • Present: • Absent: • Council: • Guests: Minutes: • Minutes, Tuesday, June 25, 2013 Treasurer' Report: • Municipal Compliance Report (current fiscal year 55.6%, previous 55%) • Secretary report: • Beverly Wolf(widow) passed away 7/10/13 • IPPAC annual membership fee $500.00 • MVT invoice for 3rd quarter July 1 through Sept. 30, 2013 $15,124 • Pension training in St. Charles through IPPAC Sept. 3 and 4, invoice ➢ $1300.00 to IPPAC. Unfinished business: • Possible Real Estate investment • Jakabauskas Disability request New Business: • New retirement application Capt. Patrick Hilbrich 32yrs 1 lm entitled to 75% of salary $121,928.11 $91,446.08 annually Misc: • Adjournment: ELGIN FIRE PENSION FUND MINUTES Aug. 27, 2013 Meeting was called to order at 8:3o am by J. Henrici Roll Call: Present: A. Bialek,J. Nowicki,J. Henrici, R.Tripoli,C. Lavery Treasurer: Council Absent: M. Przybylski Guest: M. Piotrowski Minutes Minutes of the May 28,2013 meeting were reviewed. Motion to accept was made by R.Tripoli, seconded by A. Bialek. -1-correction to replace`Abstained'to`recused',concerning tax levy. Carried. Treasurer Report A review of the portfolio presented by M. Piotrowski,covered the volatility of the market,over the last-6-weeks. Although there was a dramatic change in the Bond market,our fund is @$57 mil. Still the issue as talked about before.The Fed has indicated that it will start to wind down the Bond and Mortgage buying,toward the end of the year. This in itself caused volatility. Otherwise the individual funds are performing well.The tax levy will be in at the end of the week and will be to work immediately. A motion was made to approve the Treasure's report,by A. Bialek, Seconded by R.Tripoli. Carried. -2-invoices were submitted; Marquette covering June 1,through August 31,2013,for$7,750.00 Collins invoice for July through Sept. 2013. $900.00 A motion to approve them was made by A. Bialek,seconded by J.Nowicki. Carried. Secretary Report Coalition for Qualified Plan Status letter was presented to the Board.This covers the Tax status that the IRS requires,to keep the pension deductions deferred for the Police and Fire Pensions. The fee will be $300.00 and will cover the next-5-years. A motion was made to approve this by R.Tripoli,seconded by J.Nowicki. Carried. Unfinished business. Real estate. Nothing at this time. New Business A Physician report was received from Dr.Ostrov,concerning M.Jakabauskas disability process. The report was discussed briefly but, no decisions were made. Waiting on info to arrive from the - 1 - lawyers and how to proceed.A motion was made to pay the Bill from Dr.Ostrov for$3,918.75 for the examination,by A. Bialek,seconded by R.Tripoli. Carried. Misc. None Adjournment There being no further business, a motion was made to adjourn by A. Bialek,seconded by J. Nowicki. Carried. 9:15a. Attachments Marquette invoice filed. Collins invoice filed. Coalition invoice filed. Dr. Ostrov report filed 1,411 /04 ? Anthony Bialek, Recording Secretary Date approved -2- Elgin Fire Pension Fund Tuesday Oct. 29, 2013 Agenda ( 08:30am 1st floor Conference room South Wing Roll: • Present: • Absent: • Council: • Guests: Minutes: • Minutes, Tuesday, Aug 27, 2013 Treasurer' Report: • Marquette and MVT • Investment policy update Secretary report: • Marquette invoice for Sep., Oct., Nov. $ 7,750.00 • FMA invoice for July, Aug., Sept. 2013 20,196.98 • MVT invoice for Oct., Nov., Dec. 2013 15,316.00 • Collins and Radja invoice Oct., Nov., Dec. 900.00 • IPPAC Holiday Seminar Dec. 16th • Revised IPPAC Pension Seminar invoice 1,125.00 from Sept. 2013 • Martha Flynn (widow) passed away 9/13/13 • Unfinished business: • Possible Real Estate investment • Jakabauskas Disability request New Business: • New FF William Marquardt 24yr old. Misc: • HB 5088 report Adjournment: r ELGIN FIRE PENSION FUND MINUTES Oct. 29, 2013 Meeting was called to order at 8:3o am by J. Henrici Roll Call: Present: A. Bialek,J.Nowicki,J. Henrici, R.Tripoli, M. Przybylski Treasurer: C. Lavery Council Absent: Guest: M.Piotrowski, Sharon W.Yucius Minutes Minutes of the Aug. 27, 2013 meeting were reviewed. Motion to accept was made by M. Przybylski,seconded by R.Tripoli,Carried. Treasurer Report The portfolio was reviewed through Sept. 3o, 2013. The Fund is doing very well do to the Equities we are holding and their performance.We are currently @$61 mil.The total fund return is @10.9%YTD.All of the Equities are performing at or above their bench marks.The Feds. stated that they would keep the Stimulus buying going,for the foreseeable future. This still puts a very slow return on the Bond Funds for the present. W.Yucius pointed out that we have a short duration on our holdings,waiting for the proper moment when the Bond Market improves. Rebalancing was discussed and would be addressed in the beginning of 2014. For now,a-3- month cash holding would be fine and there would be no need to invest this into a fund at present.Asset allocation would be discussed at that meeting,too. FMA requested that they could come and go over their portion of the Fund. It was suggested that they could come at the Feb.4,2014 meeting. This would be to allow all to attend as a couple of Board members would not be available at the normal January meeting.This would be incorporated in the approval of our Board meeting dates at the end of the year.At that meeting the Board would also discuss the movement from a Small Cap Fund to a Mid Cap fund that FMA is moving toward. A motion was made to approve the Treasure's report,by A, Bialek, Seconded by R.Tripoli. Carried. M. Piotrowski presented the finished version of the Investment Policy.A quick review was done and a motion to approve the Investment Policy was made by J.Nowicki,seconded by R. Tripoli. Carried. Secretary Report The Secretary reported that Widow Martha Flynn had passed away on Sept. 13,2013,leaving no dependents. -4-Invoices were submitted for approval. Marquette Invoice Sep.,Oct. Nov. 2013 $7,750.00 Pension Training Seminar in St.Charles $ 1,125.00 (revised amount from last meeting) - 1 - Collins and Radja invoice Oct., Nov.,Dec. 2013 $ 900.00 FMA invoice for Oct.,Nov.,Dec. 2013 $20,196.00 A motion was made to approve these by J.Nowicki,seconded by R.Tripoli. Carried. MVT invoice for Oct.,Nov., Dec. 2013 was submitted for$15,316.00.A motion was made to approve this by A. Bialek,seconded by M. Przybylski. Carried. J.Nowicki recused. IPPAC Holiday Seminar was announced to be on Dec. 6th. Anyone wishing to go should sign up and the cost would be covered for the seminar. Holiday party afterwards. Unfinished business. Real estate. Nothing at this time. FF Jakabauskas is slated to get an exam by Dr. Stamalos, (Orthopedic). However,she has not done so yet and there is no other development on her status.C.Collins stated that he has all of the needed personnel and City records concerning Ms.Jakabauskas. New Business A new application to get into the Fire Pension Fund was received from a William Marquardt. He is 24Yrs of age and started on 9/16/2013.A motion was made to approve the request by R. Tripoli,seconded by M. Przybylski. Carried. Misc. None Adjournment There being no further business, a motion was made to adjourn by J.Nowicki,seconded by M. Przybylski. Carried. Carried. 9:05a. Attachments Marquette invoice filed. Revised Seminar invoice filed. MVT invoice filed. FMA invoice filed. Collins Radja invoice filed. ( / /0‘2 Anthony Bialek, Recording Secretary Date approved -2 - Elgin Fire Fighters Pension Fund Please be advised that the regularly scheduled meetings of the Elgin Fire Fighters Pension Fund Board Previously scheduled for Tuesday, November 26, 2013 and December 31, 2013, have been rescheduled for: Tuesday, December 17, 2013 at 08:30am 1st floor Conference room South Wing Anthony Bialek Secretary Elgin Firefighter's Pension Board r ELGIN FIRE PENSION FUND MINUTES Dec. 17, 2013 Meeting was called to order at 8:3o am by J. Henrici Roll Call: Present: A. Bialek, J. Nowicki,J. Henrici, M. Przybylski, R. Tripoli Treasurer:. C. Lavery Council Absent: Guest: M. Pitrowski Minutes Minutes of the Oct. 29, 2013 meeting were reviewed. Motion to accept was made by M. Przybylski, seconded by R. Tripoli, Carried. Treasurer Report The portfolio was reviewed for the year. We have done very well, averaging @15.1%. The fund is at @63million for the year. Nothing unusual has happened with the Feds yet. Expecting to see them scaling down their purchase program soon. The Market seems to be ready to accept this. The Bond Market is what is waiting for the move. A motion was made to approve the Treasure's report,by J. Nowicki, Seconded by A. Bialek. Carried. Secretary Report The Secretary reported that Widow Martha Flynn had passed away on Sept. 13, 2013,leaving no dependents. Marquette Invoice was received for Dec.2013, Jan. and Feb. 2014 $7,750.00. A motion was made to approve it by J. Nowicki, seconded by M. Przybylski. Carried. Unfinished business. Ross overpayment was discussed. He had passed and was inadvertently over paid for-2-days. His estate has been contacted repeatedly but there has been no response. Lauterbach and Amen will keep trying. New Business It was reported that retired member P. Weidner had passed away on 11/30 leaving a widow. A motion was made to approve a widow pension for Ellen Weidner by A. Bialek, seconded by M. Przybylski. Carried. -2- reports were received concerning the Disability application of M. Jakabauskas. One more was still needed. Council would be contacted on when we could expect to set up a hearing date. This could be discussed at our meeting in Feb. 2014. Not to delay the-2- Physician invoices, a motion was made to pay for the reports received on Jakabaskaus physicals,by A. Bialek,seconded by R.Tripoli. Carried unanimously. Dr. Stamelos with Buffalo Grove Orthopedics $1200.00 Dr. Steve Weine with INSPE 3570.00 - 1 - Lauterbach and Amen proposal to renew our agreement with them for accounting services was presented. The Treasurer had reviewed the contract and approved it. Discussion ensued on getting the financials sooner than we have been getting them over the last period. Also, some small corrections have been needed by the Finance office at times. The Secretary was instructed to express our concerns with them, possible directing it toward Allison, as she had been our original contact. There being no further discussion, a motion was made to accept the new-3-year agreement, 2014, 2015, 2016 by A. Bialek, seconded by R. Tripoli. Carried. Misc. None Adjournment There being no further business, a motion was made to adjourn by J. Nowicki, seconded by M. Przybylski. Carried. Carried. 9:05a. Attachments Marquette invoice filed. New Lauterbach and Amen agreement Signed and filed. Anthony Bialek, Recording Secretary Date approved -2 -