2005-11-21 - Firefighter Pension Board - Minutes Board orCommission: ❑ Fire Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 11/21/2005
Type of Meeting: ❑ Regular Meeting
minukes.pdf
Buffalo Grove Firefighters Pension Fund
Regular Meeting
November 21, 2005
1051 Highland Grove Drive
Buffalo Grove, IL
Members Present: President T. Shurba, Chief T. Sashko, M. Anderson,
W., Raysa, T. Gough, J. Tenerelli, E. Hartstein.
Members Absent: J. Sirabian, M. Mussario
Guests: Scott Anderson from the Village of Buffalo Grove
Meeting called to order at 18:32 hours.
Motion to accept minutes from the April 18, 2005 meeting made by
T. Shurba. T. Gough advised the board that minutes needed to be corrected
to April 14, 2005. R. Raysa restated motion to reflect change, seconded by
T. Sashko.
Motion carries: 6-0
Motion to accept minutes from September 12, 2005 meeting by T. Sashko.
T. Shurba advised board spelling of I.P.T.I.P. funds should be capitalized.
R. Raysa made motion to accept minutes,T. Sashko seconded.
Motion carries: 6-0
T. Shurba advised Board that Robert Ackerman could not attend meeting
and T. Sashko would be contacting him by telephone conferencing.
Robert Ackerman from Mesirow Financial advised Board that he will would
start with fixed income funds. He stated that we have about $190,000.00 in
cash. We have 2 C.D.'s that will mature next Monday, with the approximate
values of$45,000.00 and $67,000.00 with a total of around $300,000.00. He
stated that our portfolio decreased about 1 'h percent and advised us that he
believes we need to shorten up and this will keep our funds from getting hurt
when things go against us. He thinks we keep the same coarse until things
settle down. Bob sent the board documents on Black Rock Health and
Science Fund. This fund has out- performed to S.P. 500 by 5.5%. this
quarter and 14.4% over the last year. T. Shurba asked how much are we
investing in this fund, Bob stated $ 250,000.00 .
Motion made by Chief Sasko, seconded by T. Gough advising Mr.
Ackerman to go ahead and invest the money into BLACK ROCK
HEALTH AND SCIENCE FUND.
Roll call vote taken: T. Shurba, yes. B. Raysa, yes. Chief Sashko, yes. T.
Gough, yes. J. Tenererlli. E. Hartstein. Motion carries: 6-0.
Carolyn Clifford addressed board regarding Scott Calbrario, won the
decision on the Open Meeting Act and we are going to appeal. Carolyn is
waiting for a brief schedule from Tom Duda for Calibraro I1.
Carolyn stated that she has not heard from Rick Remer regarding the Smith
case. She also stated that she has asked Mr. Remer to present complete
medical records of Matt Smith so we would be able to send this to our 3
doctors to review. This is the widow's issue. Carolyn thinks the Smith case
will move quickly after the doctor's reports are completed and returned to
the board.
T. Sashko stated that she (Becky Smith and family) is getting 75% of Matt's
Salary and his family could get 100% of his salary if the board awards this
new pension. By doing this she will be shifting the federal income taxes
onto the pension board. We need to decide what questions we are going to
ask these doctors. The hearing will be more finding of facts from written
reports than witnesses testifying. We need to find out from the doctor that
Grayslake fire department sent him to, and what is his status is retired, or
moved out-of- state.
Carolyn: She has brought one more issue to the board, the fact of finding in
the Newkirk case. She stated that these findings were not as difficult do to
as the pension hearing was more streamlined. We need to meet to review
and vote on these finding of fact.
T. Shurba stated that Jeff Newkirk wanted to know when we, as a board, are
going to have these findings, Jeff is going for health insurance from the
Village. Carolyn stated that the finding fact would be the only report we, as
a pension board, would issue.
E. Hartstein: What is the pension boards responsibly in regards to
monitoring firefighters collecting a disability pension. What is the pension
board doing to monitor these firefighters. T. Shurba stated that each pension
recipient has to go for a physical each year to age 50.
E. Hartstein: I am talking about more in depth investigation as in
surveillance and if their conditions have changed. And to be able to get
these people back to work. E. Hartstein wanted to made it clear that he is
not suggesting anyone is doing this now.
Carolyn: Stated this is an issue for most pension boards. She stated that
pension boards are creating an extensive questionnaire in which each
pension recipient must fill out each year. This could and should include what
they are doing for work and on their free time hobbies and if you needed any
further treatment for our medical condition that you have been granted a
pension for. If they do not, the form states that they could possibly lose their
pension benefits. This should be done when the board reviews our pension
rules, this could be written up.
T. Sashko: What is the obligation of a board member if they hear of fact or
some information that in fact could affect one of the pension recipient's
pension.
The board agreed to review the rules of the pension board and that makes it
clear to all receiving a disability pension that the board could take a more in
depth review at anytime while they are receiving pension benefits. The
board should have this ability to take action if needed. The pension board
would have to agree as a board to take this action.
T. Shurba stated we should set up a meeting in January to set up rules for the
new board.
Motion was made by T. Shurba to adjourn, Second by Raysa.
Meeting adjourned at 19:10.
Approved by Board on ,2005
President Tony Shurba
Secretary Tom Gough