North Cook News

Elgin Fire Pension Fund Board met Dec. 4.

Here is the minutes provided by the board:

Meeting was called to order at 8:30 am by D. Olkowski.

Roll Call: Present: A. Bialek, M. Przybylski, S. Knight, D. Olkowski, D. Nawrocki

Absent:

Council: Cary Collins, David Mejia

Guest: M. Piotrowski

Minutes

Minutes of the Oct. 30, 2018 meeting were reviewed. A motion was made by S. Knight, seconded by D. Olkowski. Carried.

Treasurer Report

A brief review of the recent events affecting the Fund was presented by M. Piotrowski. The China Trade Tariffs is a major concern and has not been resolved. A 90-day hold on any decision was put in place by President Trump. So, the Market has been fluctuating in October and November.

A thorough Asset Allocation review will be done at the end of the year with recommendations for some movements between the different funds. Real Estate has been the best performer among the funds during 2018 and possibly increasing their percentage may be a recommendation.

The total fund composite is down from the beginning of the year mainly due to the recent Market changes over the past -2 months. This could be a very volatile 2019 year going forward.

-2- Invoices were received.

BMO Quarterly invoice dated 10-15-2018. $7,063.31 Collins and Radja invoice for the upcoming disability Hearing. $5,151.36

A motion was made to pay these by D. Olkowski, seconded by M. Przybylski. Carried.

A motion was made to approve the Treasurer Report Piotrowski by D. Olkowski, seconded by S. Knight. Carried.

Secretary Report

Meeting dates for 2019 were approved as follows: January 16, 2019

April 17, 2019

July 17, 2019

Oct. 16, 2019

All times would be from 10:30a to 12:00p in 1st Floor Conference Room “A”, unless otherwise posted.

A motion was made to approve this by S. Knight, seconded by A. Bialek. Carried.

Discussion centered on the “Clerk” salary for the upcoming 2019 year. Along with the responsibilities already assigned, the availability to access each pension file by the active members of the Fund was discussed. Movement of the “paper files” from the cabinets the Secretary/Clerk has now, to the “Cloud” would be the priority and be completed during the year.

A. Bialek will contact the Chief Technology Director and set up a time frame to have this switched over for all members of the Fire Department. The direction being that each member would be able to access his/her file and be able to add or subtract needed documents as required by State Statute in their file.

With this addition in mind, a motion was made to approve the monthly Salary of $964.00 per month for the 2019 year, to be reviewed in January of 2020. (241 personnel files x $4.00 each file). This was made by D. Olkowski, seconded by M. Przybylski. Carried. A. Bialek recused.

Old Business

Mike Villarreal Disability hearing to follow after the regular meeting.

FF Schneider final reciprocity payment still pending. New Business

Retired FF Jerry Eadler passed away on 11/14/2018 leaving no dependents.

Capt. Vince Rychtanek’ request for retirement pension was received to begin on Nov. 26, 2018. He qualifies for a 62.92% pension with 25yrs and 2months active service. This comes to a $7,079.45 monthly amount. This was reviewed by the Treasurer, D. Nawrocki. A motion to approve this was made by D. Olkowski, seconded by S. Knight. Carried.

None

Misc. Adjournment

A motion was made to adjourn by D. Olkowski, seconded by D. Nawrocki. Carried 9.35am

http://www.cityofelgin.org/ArchiveCenter/ViewFile/Item/6235