Plainfield Fire Department Firefighters Pension Fund met January 10.
Here is the minutes provided by the Board:
Trustee Brian Stevens called the January 10, 2017 meeting of the Board of Trustees of the Plainfield Firefighters' Pension Fund to order at 4:00 p.m. with the Pledge of Allegiance at the District Headquarters located at 23748 W. 135th Street, Plainfield, IL.
A motion was made by Trustee Obman to appoint Trustee Stevens as acting President for this meeting due to the absence of President Barnes, seconded by Trustee Riddle. Upon a voice vote, the motion passed.
Upon roll call the following Board members were present: Trustee David Riddle; Trustee Michael Obman and Trustee Brian Stevens. President Bill Barnes and Trustee John Eichelberger were absent.
Also present were Attorney Vladimir Shuliga, Ottosen Britz; Finance/HR Director Cheree Lewis and Administrative Assistant Mary Jo Fazio, Plainfield Fire Protection District; A.J. Weber, Lauterbach & Amen, LLC; and Tom Sawyer, Sawyer Falduto Asset Management.
Public Comment - Nothing from the audience.
Correspondence - No correspondence.
Minutes - A motion was made by Trustee Riddle to accept the meeting minutes from October 24, 2016, as prepared, seconded by Trustee Obman. Upon a voice vote, the motion carried.
Treasurers/Investment Report - A.J. Weber from Lauterbach & Amen gave the financial report ending December 31, 2016. At the end of December, the assets held in the Fund are $18,334,530.76. After reviewing the report, a motion was made by Trustee Obman to accept the financial report as presented, seconded by Trustee Riddle.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
Tom Sawyer with Sawyer Falduto gave the Investment Performance report ending December 31, 2016. Year to date return is 6.76% (compared to the benchmark at 7.59%). After reviewing the report, a motion was made by Trustee Obman to accept the Investment report as presented, seconded by Trustee Riddle.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
Payment of Bills - The following bills were presented to the Board for payment: Ottosen Britz Kelly Cooper Gilbert & DiNolfo, Ltd for professional services for October 2016 services in the amount of $5,720.00; Lauterbach & Amen, LLP for professional services rendered for November 2016 in the amount of $570.00 and S425.00 for preparation of the Municipal Compliance Report for the fiscal year ended December 31, 2016. A motion was made by Trustee Riddle to pay the bills as presented, seconded by Trustee Obman.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
Old Business - The 2016 audit and filing with DOI are on schedule. No further action at this time.
The Plainfield Fire Protection District approved the recommended tax levy in the amount of $1,337,776.00 in December 2016.
New Business - 2017 cost of living pension benefit increase - The Board reviewed the prepared cost of living statement for the Pensioners. A motion was made by Trustee Riddle to approve the cost of living statement as presented, seconded by Trustee Obman.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
A motion was made by Trustee Riddle to approve the auditing and/or accounting services for 2017, seconded by Trustee Obman.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
A.J. Weber stated the gathering of information for the pensionable salary request is in process. No action needed at this time.
The Board noted that preparations will be made to conduct the spring Trustee elections and reappointments. Cheree Lewis will confirm which trustees terms will expire this spring and start the process for nominations. as needed.
Cheree Lewis stated the Statements of Economic Interests must be filed with the county by May 1, 2017.
Attorney Vlad presented to the Board the proposed 2017 rules and forms amendments and Resolution 17-01 10, a resolution amending the rule and forms of the Board of Trustees of the Plainfield Firefighters Pension Fund. After a brief conversation, a motion was made by Trustee Riddle to accept Resolution 17-0 110 as presented, seconded by Trustee Obman.
Ayes: Trustee Stevens, Trustee Obman, and Trustee Riddle
Nays: None
Absent: President Barnes and Trustee Eichelberger
Attorney Vladimir Shuliga stated the NIAFPD will be holding its annual conference on January 26-29, 2017 in Oakbrook, Illinois; if any Trustee needs additional training hours, the conference provides 16 hours of training.
The next quarterly meeting will be Tuesday, April 11, 2017 at 4:00 p.m.
There being no further business, a motion was made to adjourn by Trustee Stevens at 4:40 p.m., seconded by Trustee Riddle. Upon a voice vote, the motion carried.
http://www.plainfieldfpd.org/wp-content/uploads/2017/04/Pension-Meeting-01-10-17.pdf
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