Sangamon Sun

At a recent meeting, the Chatham Firefighters Pension Fund Board reviewed the fund's first-quarter performance results with the fund's investment adviser.

The board is tasked with controlling and managing the fire department's pension fund.

Below are the minutes from this meeting, as provided by the board.

Chatham Firefighter’s Pension Fund

Board of Trustee Minutes

Meeting held at, #1 Fireman Square; Chatham, IL. 62629

May 04, 2016

I. Meeting called to order at 1500 hours by President W. Rose.

II. Present were: President W. Rose, Secretary B. Osborne, Trustee J. Bolletta, Trustee P. Schumer, and Trustee K. Romadka.

? Absent were: None

? Election Results:

Welcome newly elected Trustee Kyle R. Romadka to the Chatham Firefighter’s Pension Board.

His three (3) year term started May 01, 2016 and ends on April 30, 2019.

? Reorganize Board Positions:

Motion to approve re-appointment of William Rose as President of the Chatham Firefighter’s Pension Board was made by Trustee J. Bolletta and seconded by Trustee P. Schumer, motion

passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

Motion to approve re-appointment of Bruce Osborne as Secretary of the Chatham Firefighter’s Pension Board was made by Trustee P. Schumer and seconded by Trustee J. Bolletta, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

III. Public Comment and Concerns:

? No Public Comment.

IV. Approval of Previous Meeting Minutes:

? Motion to approve the minutes from the April 06, 2016, April 14, 2016, and April 18, 2016 meeting(s) was made by President W. Rose and seconded by Trustee P. Schumer, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

V. Treasurers/Investment Committee Report:

? The Chatham Firefighter’s Pension Fund account balance reported on the April 13, 2016 Bank & Trust Company statement balance is $ 116,565.44. Previous balance was $ 110,369.65 with $ 7,396.50 in deposits, $ 1,238.09 in debits, and $ 37.38 in interest.

? Motion to accept Treasurers Report was made by President W. Rose and seconded by Secretary B. Osborne, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

? Bill Yocius of Mitchell, Vaught & Taylor Inc. Investment Advisors was present to review the Chatham Firefighter’s Pension Fund 1st quarter, 2016 Financial Report.

? Motion to accept any Investments and Transactions completed by our Investment Advisor, Bill Yocius of Mitchell, Vaught & Taylor Inc. and acknowledge Charles Schwab’s change to the cash sweep feature for accounts within the Chatham Firefighter’s Pension Fund (“Plan”) was made by Trustee J. Bolletta and seconded by Trustee K. Romadka, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

? Motion to move $ 80,000.00 from Bank & Trust Pension Fund account to the Chatham

Firefighter’s Investment Portfolio at Charles Schwab was made by Trustee P. Schumer and seconded by Trustee J. Bolletta, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

? Motion to pay Mitchel, Vaught & Taylor Inc. invoice(s) for cost of investment and accounting services in the amount of $ 2,987.00 was made by Trustee P. Schumer and seconded by

Trustee J. Bolletta, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

? Motion to pay Attorney Carolyn W. Clifford invoice(s) for cost of services and medical

record(s) request for the Gorbett Disability matter in the amount of $ 618.28 was made by

Trustee J. Bolletta and seconded by President W. Rose, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

? Motion to pay Alpha Graphics invoice(s) for cost of services and medical record(s) request for the Gorbett Disability matter in the amount of $ 732.81 was made by President W. Rose and seconded by Trustee J. Bolletta, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Romadka……….yes Schumer……….yes

VI. Communications or Reports:

? Received correspondence from Charles Schwab about new investment rules.

? Received March 01-31, 2016 statement period, trades, and explanation of fees and services from Charles Schwab.

VII. Old Business:

? Gorbett disability claim is moving forward as documentation is being gathered by our

attorney. She believes that all medical reports have been gathered and that the IME’s should be scheduled soon.

VIII. New Business:

? Secretary B. Osborne presented a letter from Chatham Fire Protection District Board President Gerald Hughes re-appointing Bruce Osborne to a three year term, April 01, 2016 thru March 31, 2019, to the Chatham Firefighter’s Pension Board.

? Discussion of obtaining a Surety Bond for Pension Board Treasurer Gary Mueller with

recommendation by Department of Insurance and our attorney, Carolyn W. Clifford. Still

waiting for proposals from various insurance companies at what this expense would be.

Tabled for further consideration at a later meeting.

? Next scheduled Chatham Firefighters Pension Board Meeting is 1500 hours on Wednesday,

June 01, 2016.

? Closed Session (as needed)

No closed session required.

IX. Training:

? Upcoming Training: a.) IPPFA 32-hour Pension Board Training

Edwardsville, IL. , Aug. 16, Sep. 20, Oct. 18 & Nov. 15, 2016.

NOTE: Just a reminder: Illinois Department of Insurance (DOI) has made a rule, that all

Pension Board Trustees, must complete 16 hours of training annually by August 12th of each year.

X. Adjournment:

? Motion to adjourn meeting at 1555 hours was made by Trustee J. Bolletta and seconded by

Trustee K. Romadka, motion passed.

Rose……….yes Osborne……….yes Bolletta……….yes

Schumer……….yes Romadka……….yes

Minutes by Secretary B. Osborne