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| Firefighters Pension Board | | Date: | Tuesday, October 11, 2005 | | Time: | 8:00 AM | | Location: | 300 W. Burlington Ave. |
Minutes of the Meeting MINUTES OF THE FIRE PENSION MEETING
TUESDAY, OCTOBER 11, 2005
BOARD OF TRUSTEES
LT. BRYZGALSKI 1997-2006
FF BERGHAUS 2004-2007
CAPT. MAYOR 2005-2008
PRESIDENT OF THE VILLAGE BOARD – ELIZABETH ASPERGER
VILLAGE CLERK - ROBERT MILNE
VILLAGE ATTORNEY - MARK E. BURKLAND
CHIEF OF THE FIRE DEPARTMENT - DAVID FLEEGE
VILLAGE TREASURER - LOU CIPPARRONE
RETIRED - WILLIAM RUTING 2004-2007
CALL TO ORDER
Lt. Bryzgalski called the meeting to order at 0805 hours.
Roll Call by Joan Sietz, Recording Secretary
Present: President Bryzgalski, Chief David Fleege, Village Finance Director Lou Cipparrone, Secretary Todd Berghaus, Capt. Gary Mayor, William Ruting
Absent: Village Attorney Mark E. Burkland, President of the Village Board Elizabeth Asperger.
Joan Sietz, Recording Secretary was also present.
SECRETARY'S REPORT
A motion by Chief Fleege to accept the August 9, 2005, minutes as presented, seconded by Lou Cipparrone and carried unanimously by voice vote.
TREASURER'S REPORT
Lou Cipparrone reviewed the monthly financial report with the Board. (COPY ATTACHED)
We still have not received the second installment of the property taxes.
Dick Barrett was unable to attend this meeting, in his absence; Lou Cipparrone reviewed our investments with Wachovia Securities Inc. Dick Barrett suggested to Lou that we look at the long term bonds. (COPY ATTACHED)
A motion by William Ruting to accept the financial report as presented, seconded by Todd Berghaus and carried unanimously by voice vote.
OLD BUSINESS
Order of Disability signed and the original was mailed to Attorney Cary Collins and a copy mailed to Donald Hoekendorf. COPY ATTACHED.
President Bryzgalski and Lou Cipparrone have been working with Oppenheimer for the past nine months. They have given us a preliminary report on what they would like to see us to do. We are going to wait until the new Board is installed to meet again with these people.
We are going to have an election, the first week in April, for a new Pension Board because of an Article 4 Pension Fund change. The Pension Board is changing from a 9 member Board to a 5 member Pension Board; 2 active members, 1 retired member, and 2 members appointed by the President of the Village of La Grange. The new Board goes into effect the third week of April.
NEW BUSINESS
ACTUARY REPORT – Timothy W. Sharpe, Actuary, Geneva, IL reviewed the actuary report with the Board. The funding amount has gone up from $428,130 to $471,556. Percent funded has decreased from 61.0% to 56.7%. BOARD DISCUSSION. COPY ATTACHED
Board will draft a letter to the Village Board to levy $471,556.
A motion by Lou Cipparrone to approve the expenditure of $6,852.03, attorney fee for Donald Hoekendorf disability hearing, payable to Cary J. Collins seconded by Gary Mayor and carried unanimously by voice vote.
A motion by Lou Cipparrone to approve the expenditure of $437.50 for court reporter Janice Heinemann, seconded by Gary Mayor and carried unanimously by voice vote.
COMMUNICATIONS
None.
THE NEXT MEETING WILL BE TUESDAY, JANUARY 10, 2006, AT 0800 HOURS. THE MEETING WILL BE IN THE FIRE DEPARTMENT TRAINING ROOM.
Adjournment 0901 hours.
Respectfully Submitted
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Joan Sietz, Recording Secretary
PENMINITUES 10-11-05
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