Village of Palatine Police Pension Board Met Aug. 10.
Here is the agenda provided by the board:
I. CALL TO ORDER
II. REVIEW OF MINUTES
1. Motion to approve 05-11-21 meeting minutes
III. PUBLIC COMMENT
IV. ORDERS OF PAYMENTS
1. Motion to approve Morgan Stanley investment advisory fee of $24.78
2. Motion to approve Morgan Stanley investment advisory fee of $26,612.86
3. Motion to approve PGM Law legal fee of $772.50
4. Motion to approve military benefit calculation fee to Lauterbach & Amen of $350.00
For Officer Caleb Zufall
5. Motion to approve creditable service calculation fee to Lauterbach & Amen of $300.00
For former Officer Robert Brill, currently of the Wilmette FD
6. Motion to approve annual required training conference registration costs of $435 for each attending trustee
V. NEW BUSINESS
1. Discussion and action regarding Graystone consulting review
Presented by George Cook
2. Discussion and action on village financial review
Presented by Paul Mehring
3. Actuarial report presentation by Lauterbach & Amen
4. Motion to approve tax levy recommendation
5. Motion to approve annual required report to municipality
6. 2nd quarter village financial report
7. Motion to adopt resolution providing IPOPIF with authorized contact representatives
VI. LEGAL UPDATE
Presented by Jeff Goodloe
VII. REVIEW OF CLOSED SESSION MINUTES
VIII.MEMBER RELATED ISSUES
1. Motion to elect board officers, President, Vice President, Secretary and Asst. Secretary
2. Motion to add new Officer Zyanya Pacheco as of 06-01-2021 as a tier 2 member 3. Motion to approve retirement of Officer Ed Borgstrom as of 09-04-21
Hire date of 12-29-93
Retirement date of 09-04-21
Creditable service - 27 years, 8 months, 6 days
Initial annual benefit - $74,062.35
4. Motion to approve retirement of Officer Mark Dockendorf as of August 2021
Hire Date - 01-02-01
Retirement date - August 2021
Creditable service - 20 years, 8 months
Initial annual benefit - $54,861.00
5. Motion to approve creditable service buyback of 19 months by former Officer Dan Bonneville with subsequent transfer to SERS
Former Officer Dan Bonneville paid $11,061.60 to purchase back 19 months of creditable service. The 19 months along with a payment of $14,854.66 was then submitted to the SERS retirement fund in Springfield. All necessary paperwork was placed in Bonneville's pension file.
Dates of creditable service - 07-14-1988 to 02-14-1990.
6. Motion to approve the retirement of Officer Glenn Harris with 22 Year(s) 7 Month(s) 15 Day(s) of creditable service effective August 20th, 2021 with initial annual benefit of $60,347.10
IX. OLD BUSINESS
X. ADJOURNMENT
http://palatinevillageil.iqm2.com/Citizens/FileOpen.aspx?Type=14&ID=2855&Inline=True
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