Sangamon Sun

Chatham Firefighter's Pension Board met November 1. 

Here is the minutes as provided by the board:

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

Present were: President W. Rose, Secretary B. Osborne, Trustee B. Gorbett, member Ryan

Bramley, and Bill Yocius of Mitchell, Vaught & Taylor Inc. Investment Advisors.

Absent were: Trustee J. Bolletta and Trustee Kyle Romadka.

Public Comment and Concerns:

• No Public Comment.

Approval of Previous Meeting Minutes:

Motion to approve the minutes from the October 04, 2017 meeting(s) was made by Secretary B.

Osborne and seconded by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

Treasurers/Investment Committee Report:

• The Chatham Firefighter’s Pension Fund account balance reported on the September 13, 2017

Bank & Trust Company statement balance is $ 55,955.37. Previous balance was $ 42,751.18

with $ 14,221.90 in deposits, $ 1,033.09 in debits, and $ 15.38 in interest.

Motion to accept Treasurers Report was made by Trustee B. Gorbett and seconded by

President W. Rose, motion passed.

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

Romadka……….absent         Gorbett……….yes

• Bill Yocius of Mitchell, Vaught & Taylor Inc. Investment Advisors was present on

Wednesday, November 01, 2017 to review the Chatham Firefighter’s Pension Fund 3rd

quarter, 2017 Financial Report. Also received the Fourth Quarter of 2017 statement from

Mitchell, Vaught &Taylor Inc. in the amount of $3,541.00.

• Motion to accept any Investments and Transactions completed by our Investment Advisor,

Bill Yocius of Mitchell, Vaught & Taylor Inc. was made by Secretary B. Osborne and seconded

by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

• Motion to move $ 45,000.00 from Bank & Trust Pension Fund account to the Chatham

Firefighter’s Investment Portfolio at Charles Schwab was made by Secretary B. Osborne and

seconded by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

• Received a reimbursement of Trustee Kyle Romadka’s AFFI Pension Seminar registration fee in the

amount of $ 175.00. It was deposited back into our checking account at Bank & Trust.

• Motion to approve payment to Timothy W. Sharpe, Actuary for completing a Chatham

Firefighter’s Pension Fund Independent Audit, not to exceed the amount of $ 2,500.00 was

made by Secretary B. Osborne and seconded by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

• Motion to approve payment of the annual Illinois Public Pension Fund Association dues

invoice for membership for calendar year 2018 in the amount of $ 795.00 was made by

Secretary B. Osborne and seconded by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

• Motion to approve payment to Trustee William Rose for cost of fuel expense and parking to

attend the AFFI Pension Seminar in the amount of $ 30.90 was made by Secretary B. Osborne

and seconded by Trustee B. Gorbett, motion passed.

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

Romadka……….absent         Gorbett……….yes

Communications or Reports:

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

• Received September 01-30, 2017 statement period, trades, and explanation of fees and services

from Charles Schwab and Mitchell, Vaught &Taylor Inc.

Old Business:

• No Old Business.

New Business:

• Timothy W. Sharpe, Actuary of Geneva, Illinois has been hired to complete an Independent

Audit on the Chatham Firefighter’s Pension Fund. The Chatham Fire Protection District

trustees have agreed to pay for half of the cost to have this completed.

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

December 06, 2017.

Training:

• William Rose, Bruce Osborne and Joe Bolletta received 16 hours of Pension Board Training

from 2017 AFFI Pension Seminar being held at the Marriot in Normal, IL.

• Upcoming Training: IPPFA, 32-Hour, Mandatory Trustee Training; in Edwardsville, IL.; on

Tuesday, November 14, 2017. Trustee Gorbett is enrolled to attend this training.

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 1530 hours was made by Trustee B. Gorbett and seconded by

President W. Rose, motion passed.

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

Romadka……….absent         Gorbett……….yes

http://cfd-il.com/sites/default/files/2017-11-01%20Pension%20Board%20Minutes.pdf