CITY OF PARK RIDGE POLICE PENSION FUND
SPECIAL MEETING APRIL 3, 2008

President Kappler relayed that a special meeting of the Park Ridge Police Pension fund had been called to discuss Chief Caudill's pension benefits. Chief Caudill spent 31 years serving as a Park Ridge Police Officer and was entitled to 75% of his final salary. President Kappler relayed that the city first reported Chief Caudill's final salary as $129,917, but on Febuary 25th 2008 he had received two 4% raises. The first raise brought his salary up to $135,113.32. The second 4% raise brought the final salary up to $140,517.85. The issue under discussion at the meeting was what was pensionable income.

Board Attorney Atwell discussed with the board, based on his discussions with City attorney Hill, that Chief Caudill was due a 4% cost of living/merit raise on May lst. The city moved up the raise and gave an additional 4% based on early retirement. The 2nd 4% would have been due in May of 2009 based on the Chiefs contract. Mr. Atwell explained that this was his preliminary understanding of the issue as he had just received information from the city. Mr. Atwell discussed with the board state pension statutes about pensionable salary. Mr. Atwell advised that he would like more information from the city to discuss with the board.

Chief Caudill then spoke with the board. Chief Caudill could not get into specifics about his early retirement, citing a confidentiality clause he signed with the city.

Trustee Moehrlin then discussed with the board, how officers sometimes wait until May 1st to retire as they receive a raise on that day. The board as a past as usually granted them their new, higher salary, even though they did not earn it for the entire year.

Carl Brauweiler made a motion to approve the Chiefs pensionable salary at $135,000 for now, pending further review on the second 4% at the next quarterly meeting April 23rd, 2008. Dick Paul seconded the motion. A roll call vote was taken. Tom Ahlbeck was present and voted aye, Jon Moehrlin was present and voted aye, Carl Brauweiler was present and voted eye, Dick Paul was present and voted aye, and Laura Kappler was present and voted Aye. All were in favor- motion passed.

President Kappler asked for any other business. No new business was presented. Tom Ahlbeck made a motion to adjourn the meeting. Dick Paul seconded the motion. All were in favor meeting was adjourned.