1999-03-01 - Firefighter Pension Board - Minutes Board orCommission: ❑ Fire Pension Board
Document Type: ❑A e
g nda 0 Minutes
Meeting ate: 03/01/99
Type of Meeting: ❑ Regular Meeting
pension minutes 030199.di
BUFFALO GROVE FIRE DEPARTMENT
FIREFIGHTER=S PENSION FUND
MINUTES
MARCH 1, 1999
1.) Meeting was called to order at 18:06 hours by T. Sashko
Members present: Chief Allenspach, T. Sashko, J. Wieser Jr., B Raysa, T. Shurba,
S. Calibraro, J. Tennerelli
Guests Present: B. Ackerman
Members Absent: S. Mathias, J. Sirabian,
Staff Liaison and Trustee Liaison Absent : B. Brimm, D. Glover
2.) Motion was made to accept Minutes of October 19, 1998 by Chief Allenspach and seconded
by J. Wieser Jr., Motion carried.
3.) New Business:
a.) Bob Ackerman reviewed the last year funds performances. Overall we were up
7.05% for the year. Quarter one was down, quarter two and three raced back and four was a
draw. Bob stated that our long term investment plan still looks good.
The investment committee is due to meet shortly to discuss our investments and
strategies coming for Y2K.
b.) GFOA -If any one is interested in going to this seminar, please contact Tim or
Bill so that they can get the registration taken care of.
c.) Trustee Training - The board as a whole will look into schools for Trustee
certification. More to come on this in the future.
The Fire Department is looking at the budget for duty coverage, for us to be able
to go to seminars and school for pension issues. More will follow on this issue.
There are differences in the funding reports. Our funding report differs
drastically from the one published from the IPFFA(year ending 1997). The IPFFA did their
report to validate Messirows figures. There are questions to where they got their figures from
since they used to get them from the States Actuarial report, and they haven=t done them for a
few years. Bob is going to follow up with the IPFFA, Tim Clemmens to get the straight scoop.
d.) T. Shurba=s and J. Wieser Jr.=s seats are coming up for re-election. This will be
done as required by statute. The elections will be held on three days as in the past, during the
month of April.
4.) John Domar=s letter from the doctor is now on file. He actually had the physical back in
September 1998. John is till totally incapacitated. We are looking for a recommendation to set
up a Sept. To Sept. Cycle for John=s annual physical. Chief Allenspach made the motion and
seconded by J. Wieser Jr., Motion carried.
5.) Motion to adjourn was made by Chief Allenspach and seconded by J. Wieser Jr., Motion
carried.
MEETING ADJOURNED AT 18:45 HOURS