HomeMy WebLinkAboutMinutes - 04/19/2011 - Police Pension BoardApril 19, 2011 Police Pension Board of Trustees Meeting
The meeting of the City of McHenry Police Pension Board of Trustees called to order at 4:00
PM by Vice -President Brian Aalto. Other board members present were Dan Kinnerk and Ormel
Prust. Absent: Bob Hettermann, and Bob Roske. Others present: retired police sergeant Jeffrey
Foerster and recording secretary Marci Geraghty.
Approval of Minutes
Motion by Prust, seconded by Kinnerk to approve minutes from the January 18, 2011 meeting.
All ayes, motion carried.
NPVV Riwinacc
a) 2011 Election Results.
Police Pension Board of Trustees Active member:
Daniel Kreassig
8
Laura King
5
Robert Beaudoin
3
Robert J. Roske
9
Derek Kay
1
Ryan Gregorio
1
Write In
0
Police Pension Board of Trustees Retired member:
Jeffrey Forester 11
Robert J. Roske and Jeffrey Forester will begin their new terms on May 2, 2011.
b) Board elections for President, Vice President, and Secretary will be held at a special
meeting in May.
c) Mayoral appointee Robert Hettermann tendered his resignation effective on the last day
of his term, April 30, 2011. Mayor Low will recommend the appointment of Jon Meyer
to the pension board of trustees at the annual City Council meeting on April 25cn
d) Daniel Kinnerk did not seek reelection and was recognized for his service as Police
Pension Board Trustee.
e) A special meeting of the board will be scheduled in May to consider the application for
non -duty related pension submitted by Mary Lee Eschbach.
Treasurer's Report
There was no report presented.
Old Business
a) Fixed assets manager Gary Karshna from Capital Gains was not present at the meeting
however he submitted a report for the period ending March 31, 2011. March transactions
included one position called and four acquired. Acquisitions included one short term
corporate note, two callable FNMA notes, and one taxable IL municipal note with a 4.39%
yield to maturity.
b) LPL Financial was not present at the meeting.
c) Roske noted that a certificate of deposit will expire in June. The board will meet at a
special meeting in May for a date to be determined to discuss investment options for the
funds.
Other Business
a) As previously reported, a check for approximately $75,000 was received from the
Antioch Police Department for Officer John Adams credited hours and will be deposited
into McHenry fund pending review by Tim Sharp, board actuary. Roske reported that
Sharp acknowledge the check amount was accurate and the funds have been deposited.
Roske informed the board that a motion to accept the funds is required.
Prust made a motion, seconded by Kinnerk to approve the transfer of credited service
time for Officer John Adams as presented. All ayes, motion carried.
b) Public Pension Trustee Training for 2011 was discussed. Roske said he satisfied eight
hours of the required 16 hours of his training. Schedules for future training sessions will
be provided to the board in the near future.
Bills for Approval
Kinnerk made a motion, seconded by Prust to authorize payment of an invoice from Capital
Gains for $4,378. All ayes, motion carried.
Adjournment.
Kinnerk made a motion, seconded by Prust to adjourn the meeting All ayes, motion carried.
The meeting adjourned at 4:25