Sangamon Sun

Chatham Firefighter’s Pension Fund Board of Trustee met March 1.

Here is the minutes provided by the Board:

• Meeting called to order at 1505 hours by President W. Rose.

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

Absent were: None. 

Public Comment and Concerns:

• No Public Comment.

Approval of Previous Meeting Minutes:

• Motion to approve the minutes from the February 01, 2017 meeting(s) was made by Trustee J. Bolletta and seconded by President W. Rose, motion passed.

Rose.yes; Osborne.yes; Bolletta.yes; Romadka.yes; Schumer.yes

Treasurers/Investment Committee Report:

• The Chatham Firefighter’s Pension Fund account balance reported on the February 13, 2017 Bank & Trust Company statement balance is $ 73,371.15. Previous balance was $ 75,275.90 with $ 6,429.22 in deposits, $ 8,358.00 in debits, and $ 24.03 in interest.

• Motion to accept Treasurers Report 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 approve payment to Attorney Carolyn W. Clifford invoice(s) for cost of services concerning the Gorbett Disability matter in the amount of $ 423.41 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 approve payment to Attorney Carolyn W. Clifford invoice(s) for cost of services concerning the Resolution and revisions to Rules and Forms in the amount of $ 252.00 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 approve payment to President William Rose and Trustee Joe Bolletta invoice(s) for cost of travel to a training seminar in Peoria in the amount of $ 89.34 each was made by Trustee K. Romadka and seconded by Trustee P. Schumer, motion passed.

Rose.yes; Osborne.yes; Bolletta.yes; Romadka.yes; Schumer.yes

Communications or Reports:

• Received correspondence from Charles Schwab about trade confirmation(s).

• Received January 01-31, 2016 statement period, trades, and explanation of fees and services from Charles Schwab and Mitchell, Vaught &Taylor Inc.

• Received the Legal Insights for Pension Boards from Ottosen Britz Kelly Cooper Gilbert & DiNolfo, Ltd.

• Received 2016 Account Summary Reports for Income Tax purposes from Charles Schwab.

Old Business:

• No Old Business.

New Business:

• Discussion of amendment to the Board of Trustees of the Chatham Firefighter’s Pension Fund Rules concerning training. Tabled until next month’s meeting for further discussion.

• Upcoming nominations and elections will not be required this year. Brian Gorbett has submitted a letter requesting the retired/disabled position on the Pension Board. He will take the next position that expires on April 30, 2017, which is Trustee Philip Schumer’s position on the Pension Board. His three year term will begin on May 01, 2017. Per the State of Illinois, all Article 3 and 4 Pension Trustees elected or appointed after August 13, 2009 are required to attend the 32-hour Certified Trustee Program within eighteen months of election or appointment to the board.

• Next scheduled Chatham Firefighters Pension Board Meeting is 1500 hours on Wednesday, April 05, 2017.

Training:

• President W. Rose has completed the 2017 State of Illinois Attorney General OMA and FOIA training (4 hours) and presented his completion certificates.

• Submit two (2) hours of “Investment Basics for Individual and Municipal Investors” and “Management of Taxpayer and Municipal Employee Contributions in a Pension Fund” training(s) to President W. Rose, Secretary B. Osborne, Trustee J. Bolletta and Trustee K. Romadka that was provided at the Peoria Seminar Pension Board meeting by Danielle Taylor- Woods and Bill Yocius of Mitchell, Vaught & Taylor Inc.

• Submit one (1) hour of Fiduciary Responsibility Training to President W. Rose, Secretary B. Osborne and Trustee P. Schumer that was provided at last month’s Pension Board meeting by Bill Yocius of Mitchell, Vaught & Taylor Inc.

Note: Trustee P. Schumer left the meeting at 1535 hours.

• Submit thirty-two (32) hours of IPPFA initial Certified Pension Trustee Program training for K. Romadka that was completed in November 2016 in Edwardsville.

• Upcoming Training: IPPFA, 8-Hour, Regional Seminar, Edwardsville, IL. June 20, 2017.

• Upcoming Training: IPPFA, 32-Hour, Mandatory Trustee Training, Edwardsville, IL. August 22, 2017 to November 14, 2017.

Note: Just a reminder: Illinois Department of Insurance (DOI) has made a rule, that all Pension Board Trustee’s, must complete 16 hours of training annually by August 12th of each year.

Adjournment:

• Motion to adjourn meeting at 1540 hours was made by Trustee J. Bolletta and seconded by President W. Rose, motion passed.

Rose.yes; Osborne.yes; Bolletta.yes; Romadka.yes; Schumer.absent

http://cfd-il.com/sites/default/files/2017-03-01%20Pension%20Board%20Minutes.pdf