2000-08-21 - Firefighter Pension Board - Minutes Board orCommission: ❑ Fire Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 08/21/2000
Type of Meeting: ❑ Special Meeting
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minutes.pdf
BUFFALO GROVE FIRE DEPARTMENT
FIREFIGHTERS' PENSION FUND
AUGUST 21,2000
1. Meeting was called to order at 18:13 hrs.
Members present:T.Allennspach,J.Wieser Jr., E.Hartenstein,B.Raysa,J.Sirabian,
M.Anderson,L Tennerelli
Members absent:S.Calibraro,T.Shurba
Staff Liason Present:Bill Brimm
Visitors Present:S.Anderson,Bob Ackerman
2. Approval of the minutes of October 18, 1999.
Motion was made to accept the minutes by Allenspach and seconded by Tennerelli. Motion carried.
3.New Business:
a. Welcome to our new Trustee- Mark Anderson
b. Thanks to out-going President Tim Sashko for ten years of service to our fund. The new president will
draft and send a letter of thanks to Tim.
c. Status of the Fund: Bob gave an overview of the fimds'performance. He passed out charts showing
how our fimd matched up against the S&P 500,S&P Mid cap and the Russell 2000. Bob also gave a list
of recommendations that he felt our fimd should follow. The recommendations were on a separate sheet to
be included in the minutes of the meeting. We had a motion to follow Bob's recommendations made by T.
Allenspach and seconded by E.Hartenstein. Motion carried,with 1 abstention by M.Anderson due to him
leaving on an emergency call.
d.Election of Officers: We took nominations for the position of President and Secretary of the Ind. The
nominations were J.Wieser Jr.for President and A.Shurba for Secretary. No other nominations were
made. Motion was made by T.Allenspach and seconded by J.Sirabian that J.Wieser Jr.becomes
president and A. Shurba becomes Secretary. Motion carried.
4. Old Business:
a. One outstanding project of the former president was to pursue other investment companies to make a
presentation to the Board as to what they could do for us. Does the board want to continue to use
Mesirow and not pursue other companies,or start to bring in other companies for presentations. The
board felt that we should not mess with something that is working so well. We will continue to use
Mesirow.
b. A Question was asked in the last meeting about whether we wanted to continue with Oppenheimer for
some of our fixed income or bring it back to Mesirow with all of the rest. The Investment committee
should look at this and bring back a recommendation to the Board.
c. The Investment Committee should look into meeting Bob Ackerman's new bond man. It is always
nice to know the people who are investing your money.
5 Other Business:
a. B.Brimm is in the process of evaluating the new Hewitt recommendations in the Actuarial report.
One area was a change in the recommendation of Tax Levy,which part was due to an increase in
Firefighters benefits in the Statute.
b. Bill recommends that we continue to use Hewitt to do the Actuarial. Their reports have been good
and accurate.
c. B.Raysa asked if we are sending anyone down to Peoria to attend the IPPFA Seminar. Bill Brimm
expressed an interest to go. The fund will pay for the seminar,just let us know.
d. Bill Brimm commented on the courses to become Certified Trustees. These courses are offered
through NIU but can be taken in Hotfinan Estates. The Pension fund has stated that it will pay the S
675 for the class. New Trustees should look at attending this class.
e. ..Mark Anderson will assist B.Brimm in updating the Village of Buffalo Grove Firefighter's Pension
Fund Benefits Statement. This will give Mark some insight on Article 4.
6. Adjournment:
J.Wieser Jr.made the motion to adjourn at 18:45 hrs. T.Allenspach seconded motion and the motion
carried.