2007-01-29 - Firefighter Pension Board - Minutes Board or Commission: ❑ Fire Pension Board
Document Type: ❑Agenda 0 Minutes
Meeting Date: 01/29/2007
Type of Meeting: ❑ Regular Meeting
Buffalo Grove Firefighters Pension Fund Regular Meeting
January 29, 2007
1051 Highland Grove Drive Buffalo Grove, Illinois
Members Present: M Anderson, M Mussario, Ed Mckee, Jeff Newkirk, Art Malinowski.
Members Absent : none
Guests: Carolyn Clifford, Donald Potts, Brock La Marca
Meeting called to order at 0901 hours.
Minutes Discussion and decision made to table October until April meeting
Mesirow report: Report from Bob Ackerman advising to continue to buy short term cd's for now
in 6 month and 2 year terms. Per Bob Ackerman we will have a million dollars in cd's coming due
and his advice is to keep cd's short.
Discussion on Sudan investments: Bob has been told he will get the the letters of compliance for
Sudan free companies by the next meeting . Bob said he can send Scott Anderson soft ware that
screens companies for Sudan free investments, Bob had no certificates, but states the following
funds we own are Sudan free Baron, Davis New York and Third Ave. Brock La Marca from
Mesirow was told we need clear fund reports at each meeting. It was clearly stated to Brock that
the board was not happy with Mesirows performance concerning the Sudan certificate issue so far.
Motion: Made by M Anderson to invest 600,000 in a six month cd. Seconded by M Mussario
Motion Carries:. 5-0
Discussion on investments: board discussed looking into other companies to take over are
investments in the future, the feeling among the board is that even though returns have been
good we are not getting the service from Mesirow that we need. Ed Mckee and Jeff Newkirk to
look into other companies to come give us a presentation. It was decide to wait for the courts
decision on the Sudan issue and then have them come in
Motion: made by Mark Anderson to pay all presented legal bills. Seconded by Art Malinowski
Motion Carries: 5-0
Report from Carolyn Clifford: A memo has been drafted concerning the roll of the village
treasure in relation to the pension board. Calibraro update, Scott did go to his physical and dates
have been set for arguments concerning his court case. Scott Anderson will send Scott a bill to for
his missed doctors appointment.
Annual physical update: Bob Deau and Scott Calibraro have gone. Jeff Newkirk is still pending
Elections: will start in 07, 08 and 09 per Mark Anderson letters will go out in March to retired
members for April election. A letter will go to the Village of Buffalo Grove concerning their
recommendations for board members.
Discussion: was made concerning the review of closed meeting minutes to see if they can be
changed to open minutes. Minutes should be reviewed every six months.
Discussion: Jeff Newkirk states he would like to look over disability pension numbers on a regular
basis to see if they are correct.
Motion: made by Jeff Newkirk to purchase a jump drive for the pension secretary not to exceed
fifty dollars, seconded by Mark Anderson
Discussion: on the corrected date of Phil Barrys Pension to the date of 11-1-1991
Motion: made by Mark Anderson to approve date of 11-1-1991, seconded by Ed Mckee
Motion: made Mark Anderson to have Village of Buffalo Grove finance director get updated
pension figures for Phil Barry and begin issuing checks. Board will review figures at next meeting,
seconded by Jeff Newkirk.
Motion Carries: 5-0
Motion: made by Mark Mussario to adjourn meeting, seconded by Jeff Newkirk
Motion Carries: 5-0
Approved by Board on 2007
Mark Anderson
Mark Mussario