MINUTES OF THE COUNTRYSIDE POLICE PENSION BOARD
MEETING HELD AT CITY HALL

January 25, 2010

President Lou Moravecek called the meeting to order at 6:14PM.

Present:

Lou Moravecek President

Ken Goluszka Secretary

John Mikel Assistant Secretary

Gail Paul Trustee

Dan Davis Morgan Stanley Smith-Barney

Dick Barrett Wells Fargo Wachovia Securities

Tom Radja Attorney

Cathy Rothbard Clerk

Absent: Jesse Barrett Wells Fargo Wachovia Securities

Lou Moravecek, President made a motion to waive the reading of the minutes from the October 7, 2009 meeting, John Mikel seconded, Gail Paul abstained, motion carried. Lou Moravecek made a motion to accept the minutes, John Mikel seconded, motion carried unanimously.

RECEIPTS AND DISBURSEMENTS

Ken Goluszka read the receipts and disbursements for September, October, November and December of 2009. Lou Moravecek made a motion to accept the receipts and disbursements and Gail Paul seconded, motion carried unanimously.

RESOLUTIONS/INVESTMENTS

2009-033-R Morgan Stanley Smith-Barney FNMA Pool #935307 due 7/1/39 at 4.500% $310,012.94

2009-034-R Morgan Stanley Smith-Barney FNMA Pool #974588 due 3/1/38 at 4.500% $312,262.60

2009-035-R Morgan Stanley Smith-Barney GNMA Pool#722208X due 8/15/39 at 4.500% $311,824.31

2009-036-R Wells Fargo Wachovia GNMA Pool #782185 due 9/15/37 at 6.000% $201,118.46

2009-037-R Wells Fargo Wachovia GNMA Pool #723410 due 6/20/36 at 6.000% $149,972.64

2009-038-R Wells Fargo Wachovia GNMA Pool #4579 due 11/20/39 at 6.000% $140,688.95

2009-039-R Inland Bank Certificate of Deposit due 10/2/11 at 2.25% $100,997.37

Lou Moravecek made a motion to accept the resolutions, John Mikel seconded, motion carried unanimously, all ayes no nays.

BILLS

1.NIU Training required for pension board members Ck#3631 $300.00

2.Coalition for Qualified Plan Status Ck#3651 $400.00

3.IPPFA annual membership dues Ck#3652 $750.00

4.Cathy Rothbard reimbursement for printer ribbons Ck#3653 $129.96

5.National Notaries Association annual membership fee Ck#3673 $52.00

6.Lou Moravecek reimbursement for new computer Ck#3697 $430.99

7.Tom Radja attorney fees Ck#3698 $462.50

Lou Moravecek made a motion to accept the bills, Ken Goluszka seconded, motion carried unanimously.

OLD BUSINESS

The final audit was given to the board members.

The final IDOI report was given to board members and Gail Paul advised the clerk Cathy

Rothbard to tell Lauterbach and Amen that we need to receive it earlier next year.

Lou Moravecek, Ken Goluszka, and Gail Paul have been signed up to attend the required

Training at NIU, Naperville location on January 29, 2010. John Mikel is unable to attend

and will attend training at a later date.

APPLICATIONS FOR BENEFITS

Patrol Officer Steven Muszynski resigned from the Countryside Police Department on December 23, 2009, and has moved to Florida. He is requesting a refund of his police pension employee contributions totaling $34,955.61, minus 20% tax withholding ($6,991.12) for a total net amount of $27,964.49.

Lou Moravecek made a motion to approve his request for disbursement of refund/benefit and Ken Goluszka seconded, motion carried unanimously.

NEW BUSINESS

Timothy Sharpe completed the actuarial for FY ending 4/30/10, total amount per actuarial for tax levy contribution request is $858,430.00. A letter requesting amount given to Mayor and City Council. Lou Moravecek made a motion to ratify the letter sent, John Mikel seconded, motion carried unanimously.

Lou Moravecek made a motion to send the entire amount of the tax levy check to Dan Davis at Morgan Stanley Smith-Barney for investments and checking account to cover retiree’s pensions, John Mikel seconded, motion carried unanimously, all ayes, no nays.

House Bill 5088 Municipal Compliance Report for FY 4/30/09 was completed by Lauterbach and Amen and was given to Mayor and City Council, copies also given to pension board members.

Lou Moravecek made a motion to approve the quildro disbursements contingent upon receipt of Certified quildro order and processing fee of $50.00, John Mikel seconded, motion carried unanimously.

Lou Moravecek stated the pension computer needs to be updated and replaced. Lou Moravecek made a motion to purchase a new computer in the amount of $430.99, John Mikel seconded, motion carried unanimously. Ken Goluszka made a motion for Lou to purchase computer and reimburse him for the amount, John Mikel seconded, Lou Moravecek abstained, Gail Paul voted aye, motion carried.

Clerk Cathy Rothbard is requesting a salary increase. Cathy was asked to leave the room while the board members discussed this matter. Lou Moravecek made a motion to increase the clerk’s salary $150.00 per month, effective February 1, 2010, Gail Paul seconded, motion carried unanimously.

INVESTMENT UPDATES

Dick Barrett of Wells Fargo Wachovia Securities gave the board members an update on the investments, and Dan Davis of Smith-Barney also gave an update on the investments.

CORRESPONDENCE

1. Illinois Public Pension Advisor Newsletter

2. Thomas Radja Newsletter

3. Lauterbach & Amen promotions letter

ADJOURNMENT

Lou Moravecek made a motion to adjourn, Gail Paul seconded, motion carried unanimously and the meeting was adjourned at 7:35PM.

_______________________ _________________________

Lou Moravecek, President Ken Goluszka, Secretary