2009-04-15 - Firefighter Pension Board - Minutes Board or Commission: ❑ Fire Pension Board
Document ❑Type: A e
g nda 0 Minutes
Meeting ate: 04/15/2009
Type of Meeting: ❑ Regular Meeting
Buffalo Grove Firefighters' Pension Fund
Board of Trustees Regular Meeting
April 15,2009
50 Raupp Boulevard,Buffalo Grove,Illinois
Members Present: Mark Mussario,Mark Anderson,Ed McKee, Jeff Newkirk and Art
Malinowski
Members Absent: None.
Guests: Carolyn Clifford, Brock LaMarca, Tim Sashko, Bill Brimm.
Meeting called to order: at 0903 hours.
Approval of minutes:
Motion: Motion made by Ed McKee to approve January, 2009 minutes. Second by Jeff Newkirk
Voice vote: all vote aye.
Motion Carries: 5-0.
Financial Report:
Per Brock LaMarca assets held by Mesirow equal or greater than 90%of the total assets of the
fund, are down 2.3%of the I"quarter through March, 2009. Since then the Fund is up 1%.
Equities are up. There is still a big risk in corporate bonds. The S&P is still down 11%through
the V quarter. Dollar cost averaging continues every week per Brock LaMarca. Brock's concern
is that this will be an extended recession at this time. He recommends moving $500,000.00 into
equities in the same manner as previously done before.
Motion: Made by Mark Anderson to accept Brock LaMarca's recommendation to move
$500,000.00 into equities. Second by Ed McKee.
Roll call vote:
Ayes: Mussario,Anderson, Mckee,Newkirk and Malinowski
Nays: None
Absent: none
Motion Carries: 5-0.
Brock LaMarca's next recommendation is to move $1.3 million in cash to fixed incomes.
Motion: Made by Jeff Newkirk to accept Brock LaMarca's recommendation to move 1.3 million
in cash to fixed income. Second by Ed Mckee.
Roll Call Vote: Mussario,Anderson,Newkirk, Mckee and Malinowski.
Motion Carries: 5-0.
Payment of Bills:
Motion made by Mark Anderson to pay warrant as presented in the amount of$16,051.84.
Second by Mark Mussario.
Roll call vote:
Ayes: Mussario,Anderson, Mckee,Newkirk and Malinowski
Nays: None
Absent: none
Motion Carries: 5-0
New Business:
Election for active members:
Pursuant to an election held for one of the active member positions on the board, Mark Anderson
has been re-elected to the pension board for 3 years.
Motion: Motion made by Jeff Newkirk to accept the election results. Second by Art Malinowski.
Roll call vote:
Ayes: Mussario,Anderson, Mckee,Newkirk and Malinowski
Nays: None
Absent: none
Abstain: Anderson
Motion Carries: 4-0. Mark Anderson abstained.
Application for membership:
Motion: Motion made by Mark Mussario to accept Dan Pasquarella's application for admittance
into the Buffalo Grove Firefighter's Pension Fund. Second by Mark Anderson.
Roll call vote:
Ayes: Mussario,Anderson, Mckee,Newkirk and Malinowski
Nays: None
Absent: none
Motion Carries: 5-0.
Old Business:
Smith Case surviving spouse matter: Carolyn Clifford reported that the application for
enhanced surviving spouse benefits has been withdrawn by Rebecca Smith pursuant to
a letter from her attorney Rick Reimer. Carolyn Clifford sent a letter to Rick Reimer to formally
accept withdrawal and considered the matter closed.
Motion: Motion made by Mark Anderson to accept the withdrawal of the Smith enhanced
surviving spouse benefits application. Second by Jeff Newkirk.
Roll call vote:
Ayes: Mussario,Anderson, Mckee,Newkirk and Malinowski
Nays: None
Absent: none
Motion Carries: 5-0.
Review of Jeff Newkirk's Annual Examination Results: Carolyn Clifford explain that
Dr Brna has submitted his IME results, indicating that Newkirk is still disabled but not as
a result of the original injury for which the board had granted him benefits. Dr Brna
recommended that Newkirk have and MRI with contrast in order to clarify the status of
his shoulder. It was also noted that Dr Brna should receive all of the exhibits, transcripts
and findings from the original disability hearing.
Motion: Motion made by Mark Mussario to send Jeff Newkirk for an MRI with contrast
and have Dr. Brna reviews all of Jeff Newkirk's records which were presented in the
original disability hearing. Second by Mark Anderson.
Motion Carries: 4-0. Jeff Newkirk abstained.
Motion: Motion made by Mark Anderson to not send Jeff Newkirk for an MRI without contrast.
Second by Mark Mussario.
Roll call vote:
Ayes: Mussario,Anderson, Mckee, and Malinowski
Nays: None
Absent: none
Abstain: Jeff Newkirk
Motion Carries: 4-0. Jeff Newkirk abstained.
Review of Tim Sashko Issue: Carolyn Clifford distributed the exhibit packet of relevant
documents regarding the Tim Sashko retirement salary dispute,which includes the Illinois
Department of Insurance's advisory opinion on the issue. She recommended that a hearing be
held with a court reporter on this issue and that Sashko and the village be given an opportunity to
present their position on the issue. Village manager Bill Brimm made a presentation to the board
that he would like to meet with Scott Brandt at the DOI to present additional information that
may change the DOI's position on the issue. He asked the board to delay its hearing on the issue
for another day.
Motion: Motion by Mark Anderson to table the Sashko retirement issue until the DOI has
reviewed the additional information from the village and set it for hearing on May 28, 2009. Until
we have a hearing on May 28, 2009. Second by Mark Mussario.
Voice vote: all voted aye
Motion Carries: 5-0.
Public Forum:
Carolyn Clifford discussed new laws recently passed P.A. 95-1056 allows fire fighters to buy
back military time and apply up to 24 months as credible service toward their pension. She noted
that this might be accomplished by a transfer of monies from a 457 program tax free. P.A.
96-0006 provides for additional ethics reform and includes a medication of the gift ban act
provisions and an eight-hour required ethics training for all fund trustees each year.
Motion: Motion made by Mark Anderson to adjourn. Second by Jeff Newkirk.
Voice vote: all voted aye
Motion Carries: 5-0.
Meeting Adjourned: 1100 hours
Respectfully Submitted,
Mark Mussario, Secretary
Board of Trustees
Buffalo Grove Firefighters' Pension Fund
Approved by Board of Trustees at a meeting held on 2009