Carbondale Reporter

At a recent meeting, the Carbondale Police Pension Fund Board received a report on the pension fund's investments.

The Police Pension Board oversees all financial matters related to the Carbondale Police Department's pension plan.

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

POLICE PENSION BOARD

May 17, 2016 at 1:30 pm.

Carbondale Civic Center Room 103

Meeting Minutes

1. Call to Order / Roll Call

The City of Carbondale Police Pension Board of Trustees held a meeting on Tuesday, May 17, 2016, at the Carbondale Civic Center, Room 103, 200 South Illinois Avenue. Mark Goddard called the meeting to order at 1:42 p.m.

Roll Call

Present: Jeff Davis, Mark Goddard, and Tony Williams.

Absent: Paul Echols and Don Priddy.

Acknowledgement of Guests

Also present were Deputy City Clerk Clair Hayes, Senior Accountant Becky Applegate, Pension Board Attorney Dennis Orsey, Patrick Donnelly of Morgan Stanley and Nefeteria Brewster of the Southern.

2. Seating of New Board Member

Finance Director Jeff Davis is attending his first meeting as a newly appointed member. He replaces Don Ursini who resigned from the Board. His term will expire on May 8, 2018.

3. Reading / Approval of Minutes

a.) Regular meeting minutes from April 19, 2016

MOTION: J. Davis moved, T. Williams seconded, that the regular meeting minutes from the meeting held on

April 19, 2016 be accepted. All voted Aye. No nays. Motion declared carried.

b.) Open and closed special meeting minutes from April 25, 2016

Tony Williams stated that he was unable to provide the open and closed meeting minutes from April 25, 2016 at this time. It was asked if this item could be tabled until the next scheduled meeting.

MOTION: T. Williams moved, J. Davis seconded, that approval of the open and closed meeting minutes from the special board meeting held on April 25, 2016 be tabled until the next meeting on June 21, 2016. All voted

Aye. No nays. Motion declared carried.

4. Bills

a) Illinois Department of Insurance – Compliance Fee

MOTION: T. Williams moved, J. Davis seconded, to pay the Illinois Department of Insurance compliance fee in the amount of $4432.04. VOTE: Ayes: J. Davis, M. Goddard, and T. Williams. Nays: None.

Motion declared carried.

b) Dennis J. Orsey, P.C.

MOTION: J. Davis moved, T. Williams seconded, to pay fees for Board Attorney Dennis Orsey, P.C. in the amount of $4652.10. VOTE: Ayes: J. Davis, M. Goddard, and T. Williams. Nays: None. Motion declared carried.

c) Attorney Scott Hendricks

MOTION: J. Davis moved, T. Williams seconded, to pay fees for Attorney Scott Hendricks in the amount of $2554.84. VOTE: Ayes: J. Davis, M. Goddard, and T. Williams. Nays: None. Motion declared carried.

Police Pension Board Meeting – May 17, 2016

d) Southern Reporting (Vaughn hearing transcript)

MOTION: J. Davis moved, T. Williams seconded, to pay the fees for court reporting to Southern Reporting in the amount of $1167.90. VOTE: Ayes: J. Davis, M. Goddard, and T. Williams.

Nays: None. Motion declared carried.

e) Others

None

5. Treasurer’s Report

Treasurer’s report was given by Finance Director Jeff Davis through April 30, 2016. Questions and comments from the Board were addressed by Jeff Davis.

MOTION: T. Williams moved, J. Davis seconded to accept the treasurer’s report. All voted aye. No nays.

Motion declared carried.

6. Investment Report

Investment report was given by Patrick Donnelly of Morgan Stanley. Questions and comments from the Board were addressed by Patrick Donnelly.

DISCUSSION: The Board discussed which account would be best to withdraw cash from to last until October 2016 when other forms of revenue are available to the pension fund. It was suggested that enough money be withdrawn to last from June through September 2016.

MOTION: J. Davis moved, T. Williams seconded to withdraw up to $160,000.00 per month from June through September of 2016 pulled from emerging markets and Clearbridge on an equal basis. VOTE: Ayes: J. Davis, M. Goddard and T. Williams. Nays: None. 

Motion declared carried.

MOTION: T. Williams moved, J. Davis seconded to accept the Investment report as presented. All voted aye. No nays. Motion declared carried.

7. New Business

a.) Review and approve Jeffrey Vaughn’s annual disability review Decision and Order (if available) Board Attorney Dennis Orsey reported that the decision and order is not yet prepared, but will be available at the next scheduled board meeting. D. Orsey would like the minutes to show that he has delivered the transcript from Jeffrey Vaughn’s review to the Board for it to be placed on file.

b.) Discuss engagement letter with Kerber, Eck and Braeckel regarding the preparation of the annual audit, Annual Statement and Interrogatories.

DISCUSSION: The Board discussed what the engagement letter entails.

MOTION: J. Davis moved, T. Williams seconded to approve the engagement letter from Kerber, Eck and Braeckel regarding the preparation of the annual audit, annual statement, and interrogatories. 

VOTE: Ayes: J. Davis, M. Goddard and T. Williams. Nays: None. Motion declared carried.

c.) Discuss Illinois Department of Insurance new Security Administrator Authorization Form required to be on file with the IDOI no later than August 1, 2016.

Senior Accountant Becky Applegate reported that this has already been completed and filed.

Police Pension Board Meeting – May 17, 2016

8. Old Business

a.) Discuss Shawnee Health Service new contract for independent medical examinations for disability purposes.

DISCUSSION: The contract should be signed by the pension board president rather than the finance director since 100% of the cost comes from the police pension fund. A copy of the contract signed by the pension president should be sent to Shawnee Health Services with a letter stating that this will be the practice from now on.

MOTION: T. Williams moved, J. Davis seconded to accept the contract with Shawnee Health Services for independent medical examinations for disability purposes. VOTE: Ayes: J. Davis, M. Goddard and T. Williams. Nays: None. Motion declared carried.

b.) Discuss status of requested information regarding annual disability review files for Phillips; Snyder; Sykes and Rice.

DISCUSSION: The Board discussed the process for handling the annual disability review files. Board

Attorney Dennis Orsey briefly outlined and recommended a procedure that is currently being utilized by another pension board that he represents. The board has directed D. Orsey to follow his recommended procedure.

MOTION: T. Williams moved, J. Davis seconded to follow the annual disability review process as outlined by Board Attorney Dennis Orsey. VOTE: All voted aye. No nays. Motion declared carried.

c.) Status of retired trustee election

Letters notifying retired pension members of the election will be mailed out Friday, May 20, 2016. The letter will include a listing of all eligible members who can run or be nominated. Deadline for responses will be Friday, July 8, 2016.

9. Public Comments

None

10. Application for Membership

None

11. Application for Benefits

None

12. Adjournment

MOTION: T. Williams moved, J. Davis seconded, that the meeting be adjourned. All voted Aye. No nays. Motion declared carried.

Meeting adjourned at 4:02 p.m. Next meeting scheduled for Tuesday, June 21, 2016 at 1:30 p.m.

Respectfully Submitted,

Anthony Williams

Carbondale Police Pension Board Secretary

AW/clc