2016-07-12 - Police Pension Board - Agenda Packet m' Meetingof the Village of Buffalo Grove Fifty Raupp Blvd
g Buffalo Grove, IL 60089-2100
L u' Police Pension Board Phone:847-459-2500
Regular Meeting
July 12, 2016 at 6:30 PM
I. Call to Order
II. Public Comment
III. Approval of Minutes
A. Police Pension Board - Regular Meeting -Apr 12, 2016 6:30 PM
IV. General Business
A. Invoices/payments
B. Investment/Portfolio Report
C. Investment Performance (Financial Consultant): Sale/purchase of
securities
D. Fixed Income Portfolio Review
E. Election of Board Officers (President, Secretary, Vice President, etc)
F. Legal (Board Attorney)
G. Training: Ethics, Fiduciary Duty, & Investment (P.A. 96-429)
V. Old Business
VI. New Business
A. New Hire Officer Brian Tijerina
B. Annual Statement Certification Form Sent to Department of
Insurance
C. Next quarterly meeting: October 11th, 2016
VII. Adjourmnet
The Village of Buffalo Grove, in compliance with the Americans with Disabilities Act, requests that
persons with disabilities, who require certain accommodations to allow them to observe and/or
participate in this meeting or have questions about the accessibility of the meeting or facilities,
contact the ADA Coordinator at 459-2525 to allow the Village to make reasonable
accommodations for those persons.
3.A
BUFFALO GROVE POLICE PENSION FUND
Police Pension Board Regular Meeting Minutes—Tuesday April 12rh, 2016
Call to Order—6:30PM
Attendance— Trustees Scott Eisenmenger, Tony Montiel, Arthur Voigt, Ken Fox, Jeff Feld,
Scott Anderson—Village Finance Director, Brian LaBardi—Reimer &Karlson (board
attorney), Dave Wall—Wall & Associates (board consultant), A.J. Weber— Lauterbach
&Amen (board accountant), Ms. Jessica Govic—Arthur J. Gallagher Risk Management,
Ms. Stephanie Roberts and Mr. Jeffrey Detwiler—Garcia Hamilton &Associates
as
III. Public Comments -None c
IV. Minutes — January 121h, 2016 meeting minutes °
■ Motion to approve minutes made by Trustee Eisemmenger c
■ Seconded by Trustee Voigt Vote: 5 ayes / 0 nays a
■ Discussion: None a
■ Motion carried
a
0
General Business
■ Approval of invoices totaling $86,761.64 between January 1, 2016 and March
31 st , 2016: N
o Motion made by Trustee Eisenmenger to approve and pay the bills as ci
presented. a
o Seconded by Trustee Voigt Vote: 5 ayes / 0 nays c
o Discussion: None
o Motion carried
d
■ Ms. Govic from Arthur J. Gallagher gave the board a presentation regarding
fiduciary liability insurance for the board. The board hired Arthur J.
Gallagher for coverage in 2015 and the policy will be expiring on 4/14/16. c
o Motion made by Trustee Eisenmenger to approve fiduciary liabilityCL
insurance coverage for 2016 with instructions to extend to three (3)
years if the premium remains the same- $7,894 (per year) Q
o Seconded by Trustee Feld Vote: 5 ayes / 0 nays a
o Discussion: None c
o Motion carried
■ Ms. Roberts and Mr. Detwiler from Garcia Hamilton gave the board a
presentation on their fixed income strategy and services
■ Mr. Wall reported on the performance of the fund (fees included):
0 1st Qtr. 2016: Fixed: Stratford Equity 2.05%, Commodities 0.97%,
International-0.88%, Passive Small Cap 1.05%, Real Estate 6.28%,
Oakbrook 0.15%, Zacks 0.52%
0 1 st Qtr. Overall performance: 1.19%
0 2016 YTD performance: 1.19%
o Value on 03/31/16: $56,550,268.57
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3.A
o A discussion was brought up during Mr. Wall's portfolio performance
review regarding the cost Schwab charges to transfer funds into our
operating account
o Motion made by Trustee Eisenmenger to establish an ACH money
transfer/link to our operating account
o Seconded by Trustee Voigt Vote: 5 ayes/0 nays
o Discussion: None
o Motion passed
■ Election of Active /Retired/Disabled Trustees
o Trustees Eisenmenger, Montiel (Active) and Voigt(Retired)were the
only names submitted for nomination
o Motion made by Trustee Eisenmenger to elect these members by
acclimation c
o Seconded by Trustee Fox Vote: 5 ayes/0 nays
o Discussion: The new term will commence in May, 2016 °
■ Review/Modify the Board's Investment Policy c
o No recommendation for adjustment or change Q.
■ Preparation of Annual Department of Insurance Report Q
o Mr. Weber advised he will file the report in June, 2016
■ Rules and Regulations a
o No Change
■ Annual Filing of Statement of Economic Interest for each o
o All Trustees have filed their statement with the exception of Trustee N
Feld N
■ Legal—Mr. LaBardi gave the board a legal update
■ FOIA Officer Q
w
o Motion made by Trustee Eisenmenger to appoint our Board Treasurer, G
Mr. Scott Anderson, as our Board FOIA Officer and Open Meetings
Act Officer
o Seconded by Trustee Montiel Vote: 5 ayes/0 nays
o Discussion: none U
c
o Motion carried
a
Old Business a
■ None
New Business
■ Officer Pakaski's Retirement Application
o Motion made by Trustee Eisenmenger to approve Officer Pakaski's
retirement application. Officer Pakaski has 29 years of service
completed. His final salary is $101,332.00. He will receive 72.5% of
his final salary. Officer Pakaski's retirement date was 04/04/16. He
will receive a prorated check of$50509.93 and then his monthly
benefit will be $6122.14
0 2nd by Trustee Voigt
o No discussion Vote: 5 ayes/0 nays
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3.A
o Motion passed
Adjournment—The meeting was adjourned at 8:45 PM.
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