BOARD OF TRUSTEES OF THE FIREFIGHTERS PENSION FUND 901 W DEVON AVENUE PARK RIDGE, ILLINOIS 60068 847.318.5283 Park Ridge Fire Station 36 1000 N. Greenwood Ave. Park Ridge, IL 60068 09:00 HRS CALL TO ORDER President Skinner called the quarterly meeting of the Board of Trustees of the Park Ridge Firefighters Pension Fund to order at the above place and time. ROLL CALL Secretary Bruchsaler took the roll. Board members present were President Skinner, Secretary Bruchsaler, Trustee Buggy, and Trustee Holthouse. Trustee Egan was absent Also present were: Vladimir Shuliga, Jr., Fund Attorney, Ottosen Britz Joe Gilmore City Finance Director / Fund Treasure Mike Piotrowski, Board Investment Consultant, Marquette Associates Fund Members present David Hohmeier PUBLIC COMMENT President Skinner asked if anyone wished to address the Board at this time. There was no response. APPROVAL OF THE MINUTES President Skinner asked the Board members if they had read the quarterly meeting minutes of February 09, 2016 and found them satisfactory. TRUSTEE HOLTHOUSE MOVED AND TRUSTEE BUGGY SECONDED TO ACCEPT THE MINUTES FROM THE QUARTERLY MEETING ON FEBRUARY 09, 2016. UPON A VOICE VOTE, THE VOTE WAS UNANIMOUS. THE MOTION The Board conducted its six-month review of its closed meeting minutes, as required by the Open Meetings Act. TRUSTEE HOLTHOUSE MOVED AND PRESIDENT SKINNER SECONDED TO CONTINUE KEEPING THE EXECUTIVE MEETING MINUTES CLOSED. PRESIDENT SKINNER- YES, SECRETARY BRUCHSALER- YES, TRUSTEE BUGGY- YES, TRUSTEE HOLTHOUSE- YES AND TRUSTEE EGAN- ABSENT. THE MOTION
Page 2 TREASURER S REPORT AJ Weber Board Accountant - Absent LAUTERBACH & AMEN, LLP JANUARY 2016 MONTHLY REPORT AND PAY PAYROLL AND VENDOR BILLS IN THE AMOUNT OF $259,763.33 PER THE ACCOUNTING JOURNAL. LAUTERBACH & AMEN, LLP FEBRUARY 2016 MONTHLY REPORT AND PAY PAYROLL AND VENDOR BILLS IN THE AMOUNT OF $264,428.65 PER THE ACCOUNTING JOURNAL. LAUTERBACH & AMEN, LLP MARCH 2016 MONTHLY REPORT AND PAY PAYROLL AND VENDOR BILLS IN THE AMOUNT OF $258,404.55 PER THE ACCOUNTING JOURNAL. SECRETARY BRUCHSALER MOVED AND PRESIDENT SKINNER SECONDED TO APPROVE THE QUARTERLY REPORT FROM LAUTERBACH & AMEN, LLP BOARD ACCOUNTANT. Secretary Bruchsaler announced that Fund accountant AJ Weber s wife had a baby but returned to the hospital today due to complications; for this reason AJ Weber did not attend the meeting. PRESIDENT SKINNER MOVED AND TRUSTEE HOLTHOUSE SECONDED TO PURCHASE A FLOWER ARRANGENMENT FOR AJ WEBER S WIFE NOT TO EXCEED $100.00. CARRIED
Page 3 Mike Piotrowski Board Financial Advisor The Marquette Associates 1Q16 report was presented to the Board. Ending market value of the Fund on March 31, 2016, was $40,584,824. The fiscal year return (net of fees) was -0.5% (compared to policy benchmark at 0.5%). SECRETARY BRUCHSALER MOVED AND SECRETARY BRUCHSALER SECONDED TO APPROVE THE 1Q16 MARQUETTE ASSOCIATES FINANCIAL REPORT. CARRIED COMMUNICATIONS OR REPORTS Vladimir Shuliga, Jr - Board Attorney Vlad gave a status update on the Zermeno disability application. The date of the hearing has been set for June 13, 2016 at 09:00 hrs. at Park Ridge Fire Station, 1000 N. Greenwood Ave, Park Ridge, IL 60068 OLD BUSINESS None NEW BUSINESS No new members applications were received in the past quarter. No new retirement applications were received in the past quarter. No action or vote is required on any disability applications. No pension contribution refunds applications were received. The Department of Insurance requires one of the board members to be the PENSION FUND SECURITY ADMINISTRATOR. Discussion took place on who would fulfill the position. TRUSTEE HOLTHOUSE MOVED AND PRESIDENT SKINNER SECONDED TO APPOINT SECRETARY BRUCHSALER TO THE POSITION OF PENSION FUND SECURITY ADMINISTRATOR. CLOSED SESSION None
Page 4 BENEFIT OF THE BOARD President Skinner advised he held open nominations for active member position on the Board in the month of March. He received multiple nominations for only JD Bruchsaler; no other nominations were received. PRESIDENT SKINNER MOVED AND TRUSTEE BUGGY SECONDED TO DISPENSE WITH THE ACTIVE MEMBER ELECTION AND ACCEPT THE UNANIMOUS NOMINATION OF JD BRUCHSALER AS THE ACTIVE MEMBER FOR A THREE-YEAR TERM. JD BRUCHSALER WILL SERVE UNTIL APRIL 2019. UPON A VOICE VOTE, THE VOTE WAS UNANIMOUS. THE MOTION ELECTION OF BOARD OFFICERS TRUSTEE HOLTHOUSE NOMINATED TRUSTEE SKINNER FOR PRESIDENT OF THE BOARD. TRUSTEE BRUCHSALER MOVED AND TRUSTEE BUGGY SECONDED TO CLOSE THE NOMINATIONS AND CAST A UNANIMOUS BALLOT TO ELECT TRUSTEE SKINNER TO BE PRESIDENT OF THE BOARD. TRUSTEE HOLTHOUSE NOMINATED TRUSTEE BRUCHSALER FOR SECRETARY OF THE BOARD. TRUSTEE SKINNER MOVED AND TRUSTEE HOLTHOUSE SECONDED TO CLOSE THE NOMINATIONS AND CAST A UNANIMOUS BALLOT TO ELECT TRUSTEE BRUCHSALER TO BE SECRETARY OF THE BOARD FOR A ONE-YEAR TERM. PENSION TRUSTEE TRAINING Attorney Shuliga distributed copies of an article published in the IAFPD Fire Call by Board Attorney Carolyn Clifford on the issue of actuarial studies and agreements. PUBLIC COMMENT President Skinner asked if anyone wished to address the Board at this time. There was no response. ADJOURNMENT President Skinner asked if there was any other business.
Page 5 PRESIDENT SKINNER MOTIONED AND TRUSTEE BUGGY SECONDED TO ADJOURN THE MEETING. UPON A VOICE VOTE, THE VOTE WAS UNANIMOUS. THE MOTION President Skinner declared the meeting adjourned at 09:50 HRS. Respectfully submitted, JD Bruchsaler Board Secretary Approved by the Board of Trustees at its meeting on June 13, 2016.