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Home My WebLink AboutMinutes 1987BOARD OF T3Lw Sj6-"RS RVANSTON TIREFIGHT1 I I PZNWON jbW'+h wo ?t=U' *� S OF nS PMULA3 lMM P. Dillons Meeting called to order, 09s08 izs. aou CtL11S Ola Husineass Prastat P. DUloxt P. Hanchar J. ]Maher H. Brandt K. Davis R. Shont S. Fuchs Absemt None Thursday 9 April, 1987 K. Davis '4otion to accept minutes of the last seMvlor mooting. R. 3r*ndts 2nd the lotion. V2te! UnaM omly appr'cved. P. Dillon: Lsforsed the the board of tristees that notification had been received rega Airg the death of pension fund umbers Lillian Yindleborm, widow (died 27 Feb., 1967). She did not leave =ky dependant china. Her $300.00 per mouth annuity has been terAinated. P D ans Informed the board of trustees that a change has occnred in the Downstate P=31,on Code. The hex provisions provide that the 3% i.n=sase in benefit (previously paid to sezbers upon attaining age 60), will sow be paid to ambers upon attaining age 55 for retirees. In order to fund this charsa9, active sabers of the Downstate Pension Tunds would experienc* a increase in their monthly contribnt;on to their respective pension fund. The new total sonthly oontribution by an active member to the 3'VA.KSTON MVMY72PS MSINX : . will now anmmt to 8j% of their monthly earnings. P. Dillons Provided the following information. raga ding Dr. Sammo and ONEA Medical Groups pIMSIOn BOA.-.' P?i.SICAL DQAMINATMI (nor hire) Caegrehenaive history and physical eaRination........ $46.00 Complete urinalysis.......r...r.r.............■.......# 9.00 Audiometry (hearing examination) ....... .....rrr.......$20.00 SpironetrT (pulmonaxy Inaction test)... ees*s oeooa * v o * #$30oOO Visual ac•lity ............................... . ......... �ZD.OQ Lumbosacxal (,spinal x-ray) ............................ 8 40 Total: 1201.00 (continued) BOAR OF TSw s;jA8 B�A88'rON M FIGHTZILS PmN81ON FUND KDN?'RN OF Tim RNCnI,AR MUM Thursday (contirmed) 9 Agrfl To date, one now candidate has been tested for new hire utilising CFCA Group and this battery of exams. P. Dillons Infoi;.Ol the board of trustees regarding computerization of the 3VANSTQN FIRIW'I1ZM PMMN FUD. The best bid that we received was offered by Kiduest Computer, to provide the follorirug: • Apple 512 $'e*l:anced • Apple Imagewriter II printer • Printer cable • Apple 800L external disc drive • Microsoft word • Nicraaoit file for the sus totals $2.411.00 R. 9honki Advised, that the City Councils Ldainiatntion and Public %3*3 Committee (Aldermen Nelson, Rainer, Haden, Collens, and VAsuret) denied bill payment of the EYWSCM POLICZ PSMSIO:i FLYD computer. There are legal problems regarding the disbmrsexent of ftmds that aunt be worked out. R. Brand`.: Requested information regarding xandatory Physicals for Disibilty ?easion Recipients. P. Dillon: Responded that menbers O'Malley, iiatfield, SmithwicA have been notified. km durations will be scheduled and they will comply, or their disibillty pension benefit will be terminated. R. Brandts ?.aised the question of dreg scsening. Discussion followed. P. Dillon: So decision at this time regarding drug screening. F. Hanchari Suggested that this matter might be appopriate for referring to an Attorney for a legal opinion. Now :hwinessl R. Shonka Provided information regarding the P&SMV FUND INVIST'NOIT On 15 ?'.ay, 1987 several of our investments would be maturimg. It is recommended that a new investment inaturaent be considered. C.I.C.'s (guaranteed insurance contracta) are now paying approximately Ll to 1jb higher interest rates than other elligibie investments. Discussion: Information and explanation was made ;aovid.ing the latest Investment decisions made by the Pk SICK FUND INVXSZNT CCKKI11". Quarterly reports will be made available to the pension board of t=atees. R. Shonki Asked the other board of trustees their feelings regarding Investment strategies, P. Dillon: Responded that there is a deluge of information being provided by the gales representatives of various brokerage fins, K. Davis: Raised the question regarding the large group of retirees due to retire between 1997 and the year 2002, brought to the board's attention by Secretary Hanchar. R. Shonke Responded that this concern will be taken into consideration xagtiding future investment strategies. Discunsionr Selection of an attorney. -2- (continv d) BOARD OF T W s1.1.03s BVA.6,�►..,N ruArlasT35319 P31NSION FUN MIDIDTTU of To MMUW mulI]c Thmmdu— (continued) 9 Apri1, 1 P. Hanchari Provided an explanation of the pro"" used to sexes possible candidates for Pension Board Attorney, by the TAUT 1-. S. fucks% Advised that he toots exception to the report provided by Secretary Hanclar. P. K&nchar: ReapmalAd that he was equally irritated by the offensive remarks and allegations being cads by Trastee S. Hicks. P D on: Remarked that a decision needed to be wade regarding the selection of an attorney for the patssion fund, and that we should avoid getting bogged dorm in a battle. R. Brandt: Advised, that he favors candidate McGuire. Candidate Gu m's previous affiliation with the law fin of Soayforth, Shaw, Fairweather, A Geraldson roles his out in the interests of the sembership. Candidate Horowitz is too expensive. P. DW on ResaxAed that he favors candidate McGuire for the sage reasons, adding that we can not continue to attfapt to rem the pension fund with all the legal complexities without an attorney. S. Hickst Responded that he feels that candidate Gunn is out of the rttnniag, and that he savors candidate iorowritz. 'Though candidate McGuire is more qualified, candidate Horowitz lives In Evanston— which he prefers. K. Davist Advised, that she is aware that Trustee R. Shonik is philo- 3opb1caUy opposed, however the City hires outside attorneys all the time. She favors candidate Horowritz's local residency but his fees are unrealistic given the funding levels of the pension fund. 'Therefore, she is In favor of candidate 'lcGuixre. J. Fishert Stated that upon examining the responses from the 3 attorney P. Hanc hart g, Davis P. DlUons Votes candidates, he is in favor of McGuire. 3xpressed 3 concerns regarding candidate selections 1.) Cost effectiveness 2. } G]ual'-f is:at:ors of the candidate �.) Candidate Gunn's previous affiliation with the notorious anti -union law fin of Seayforth, Shaw, ?airweather, d Ceraldson. Taking these 3 factors in account, favored candidate McGuire. Motion: The Board of Trustees of the ZVAFSTCN FIM'Iui:-nM PENSIG.�i 7-'HD, appoint Thonas F. McGui-re Attorney of Record. to be used only by the Board of Trustees for legal matters related directly to the pension fund. 2nd the action. yes P. Dillon J. Fisher P. Hanchar R. Brandt K. Davis Abstain S. Hicks R. Shank Motion passed, :homers F. McGuire recognized as Attorney of Record for the KVAhSnI N Fin-► FIGHTERS PENSION FIND. -3- (continued) BOAR OF TB..ar.&&&BS BQ.1►aSTOA FIB FIGEMERS PENSION FUND Mum OF T" REGULAR MERTDfG Thu rsd T (continued) 9 April, 1987 8. Brandt: Provided a report of the wwting of the City's Budget Policy Committee that he and Secretary P. Hanchar attended. He advised that although we did open up lines of communication with the open letter that was sent to all city aldermen. the City Manager and his staff, and the R'vanston Review, we should address any futu-* correspofld&zc* directly to cosaittee Chairman Jon Nelson. Mention was made that the City has provided the services of a financial advisc=' for which they art paying $2,000.00 annualy, and alderman Belson questioned if either the fine or p0110e pension funds had ever made ast of this resource. The response vas that neither of the funds had ever been informed of its existence. R. Shonk: Advised, that he could not find in any minutes of City Council Meetings any approval for this expenditure. P. Dillon= We --*marks regarding the timely funding of the pension fund. R. Shonk: Advisod that he would provide an actus-r al report for the next setting of the MSION FUND LTiM ?lTi3iT COMY1 ".U. This report would include oiling projections. questions any'/or comments from the floor: P. done Aaked if any xember in attendance at the meeting had any ques- tions or comments that they would Uke to sake. The response was acne. P. Dillon: ?lotion to adjourn the meeting. R. Shonk: 2nd the motion. Vote: Unanimously approved. Meeting adjourned at 10122 Ire. ?or the Board of Trustees, Peter Va. Hanchar, Secretary YVARWON r''MMMMS FUSION FM -4-