CITY OF PARK RIDGE POLICE PENSION FUND
QUARTERLY MEETING APRIL 30th, 2009

President Kappler called the meeting to order at 708pm.  A roll call of the trustee’s was taken.  Present were Laura Kappler, Robert Kristie, Tom Ahlbeck, and Carl Brauweiler.  Richard Paul was absent from the meeting.  Mary Tomanek from Smith Barney and board attorney Charles Atwell were also in attendance.

Carl Brauweiler made a motion to accept the minutes to accept the minutes from the January 26, 2009 quarterly meeting.  Robert Kristie seconded the motion.  All were in favor -motion passed.

Mary Tomanek from Smith Barney presented a financial report to the board through March 31, 2009.  She recommended we switch out international funds to Mainstay.  Robert Kristie seconded the motion.  All were in favor – motion passed. 

Tom Ahlbeck asked how much money was in the money market and available to buy some bonds.  Mary found there was $1.9 million to work with.  After the meeting an agency was purchased for $1 million with Wells Fargo.  Paperwork will be included with the minutes and signed and approved at the next meeting. 

Carl Brauweiler said if we have cash available after the cash flow analysis we should think about putting some money back into equities.  He wanted the board to have Mary and Tom Ahlbeck to do the cash flow analysis.  After the completion of this report we can then decide how much money we need to put into the equities over the next year. Seconded by Tom Ahlbeck.  A roll call vote was taken for this action.  Carl Brauweiler, Laura Kappler, Tom Ahlbeck, and Robert Kristie all voted yes.  Motion passed.

Laura Kappler brought up that Edward Corral had been a Park Ridge Police Officer and resigned.  He then got hired at the Aurora Police Department.  He applied for portability and recently said he did want to do the transfer.  Lauterbach and Amen calculated his amount.  He completed the transaction just after the meeting.  Our fund paid Aurora a lump sum after Ed paid us for the amount he took plus interest.  Robert Kristie made a motion to accept his application and Tom Ahlbeck seconded it.  All were in favor of the motion.  Motion – passed.
 
Laura Kappler brought up the QUILDRO that was set up on behalf of retired officer Robert Kuhn.  The order dated April 14th was signed by a judge and had the proper calculation order with it. 

Mr Atwell had a conversation with Dr Vender in reference to Patrick Duggan on April 7th, 2009.  There will be on update on the case at a later date.

Laura Kappler presented the board with Agnes Szpiganowicz application for disability.  Her last day of pay was April 30st, 2009.  Robert Kriste made a motion to accept her application and Laura Kappler seconded it.  All were in favor motion passed.  She will be placed on pension as of May 1st, 2009 at 50% of her salary.

Treasurer Brauweiler, Tom Ahlbeck and President Kappler are going to training on May 21st sponsored by the IPPFA.  Treasurer Brauweiler and President Kappler signed up for training hosted by the IPPFA on June 4th and 5th. 

Mt Atwell notified the board that the Roselle’s case went on appeal and was not changed by the court.  They sided with the lower court that increases to widows and widowers were against the law so it was upheld.  Boards cannot arbitrarily give raises when they are not part of the law. There will be no increases for widows or widowers.

Our next meeting is July 27th, 2009.

Tom Ahlbeck made a motion to adjourn the meeting at 900pm.  All were in favor motion passed. 

Minutes were complied by President Kappler.

Our next meeting is July 27th, 2009 7pm in the Mayor’s Conference room.

At the writing of these minutes we received news that retired Officer Donald Showalter passed away.  He completed 31 years and 7 months of service for the City of Park Ridge.  He retired in 1986 and retired to Florida he does not have any beneficiaries.