Kane County Reporter

City of Elgin Fire Pension Fund Board met Jan. 15.

Here is the agenda provided by the board:

Roll:

 Present:

 Absent:

 Council:

 Guests:

Minutes:

 Minutes Oct. 16, 2019

 President and Secretary

Treasurer Report:

 Marquette report

 CS McKee discussion

 Collins and Radja invoice for Oct. Nov. Dec. 2019 $ 950.00

 Kane Anderson invoice 3rd quarter 2019 $16,993.83

 BMO 3rd quarter 2019 $ 7,292.95

 S. Knight ethics training $ 125.00

Secretary Report:

 Legislation passed on consolidation.

 Clerk salary for 2020.

 Retired, widows, dependents, disabled 247 x $4. = $988.00 monthly

 ($24 month increase from 2019)

 Anthony McMeel resignation 12-22-19. Would like to transfer into a 401K.

 FF Jake Karales resignation 1-9-2020. Would like to transfer pension amount into new department 457 Plan

Old Business:

 Asset Allocation tabled

 T. Bruce Disability appl. On hold

New Business:

 Chief Dave Schmidt retirement application. First day 1-4-20  75% pension at $12,172.57 monthly.

 New FF Nick Morici. Age 22. Hired 1/10/020

Misc.

https://il-elgin4.civicplus.com/ArchiveCenter/ViewFile/Item/6739