1969-016Ordinance #69- 1t,
POLICE PENSION BOARD ORDINANCE
BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, ILLINOIS,
Section 1. There shall be a Police Pension Board
consisting of five members to administer the Police Pension
Fund and to designate the beneficiaries thereunder. Said
Board shall be known as "Board of Trustees of the Police
Pension Fund ". The majority of the members shall be resi-
dents of the municipality.
Section 2. Of the Board Members, two shall be
appointed by the President. The third and fourth shall be
elected from the regular force by the active members. The
fifth shall be elected by and from among the beneficiaries
of the fund.
Section 3. The members shall serve and be appointed
or elected in the manner provided by law.
Section 4. The Board shall establish and maintain
reserves, collect, manage, invest and control the Police
Pension Fund and all monies pertaining thereto in the manner
provided by statute and shall pay beneficiaries as provided by
law.
Section 5. There shall be deposited in the Police
Pension Fund all monies provided by statute.
Section 6. This Ordinance shall be in full
force and effect from and after its passage and approval.
Yeas
Passedf0 -i3
Attest:
C luck
Nayes l`? Absent
Approved:
-2-
y
sident
0
All STATE OF ILLINOIS
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/U10 If DEPARTMENT tlI "' OF INSURANCE
SPRINGrFIELD
JAMES BAYLOR
DIRECTOR OF INSURANCE October 6, 1969
Secretary
Police Pension Fund
Village Hall
Buffalo Grove, Illinois 60090
Dear Sir:
In order that our files will be complete in
VINCENT VACCARELLO
CHIEF DEPUTY DIRECTOR
EDWARD A. SKUBE
SUPERVISOR
PUBLIC EMPLOYEE
PENSION FUND DIVISION
82S -9474 (217)
regard to the Police Pension Fund of your municipality
we would appreciate your cooperation in forwarding us a
copy of the municipal legislation, i. e. Ordinance or
Resolution, authorizing the establishment of the Fund.
Very truly yours,
Edward A. Skube
Supervisor
Public Employee
Pension Fund Division
EAS :am