MINUTES OF THE COUNTRYSIDE POLICE PENSION BOARD

MEETING HELD AT CITY HALL CHAMBER ROOM

5550 S. East Avenue Countryside IL

Thursday, July 30, 2015 at 4:30PM

President Lou Moravecek called the meeting to order at 4:40PM.

Present: Lou Moravecek President

Karl Rodey Secretary

Ken Goluszka Assistant Secretary

Allen Arneson Trustee

Steve Jasinski Trustee

Dan Davis Morgan Stanley Wealth Management

Tom Radja Board Attorney

Cathy Rothbard Pension Clerk

Absent: Dick Barrett/Jessie Barrett Wells Fargo Wachovia Securities

INVESTMENT UPDATES

Dan Davis of Morgan Stanley Wealth Management gave an update of the investments. He made a recommendation to the board members to take $200,000.00 out of the Morgan Stanley Money Market and wire transfer it to Countryside Bank to cover retiree checks. Lou Moravecek made a motion to transfer $200,000.00 from Morgan Stanley money market to the Countryside Bank money market and Ken Goluszka seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

Jessie Barrett of Wells Fargo Wachovia Securities sent the board members an update of the investments at Wells Fargo Wachovia and a copy was given to each board member.

APPROVAL OF MINUTES

Steve Jasinski made a motion to waive the reading of the minutes and to accept the minutes from the April 23, 2015 meeting and Allen Arneson seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

RECEIPTS AND DISBURSEMENTS

Karl Rodey read the receipts and disbursements for April and May of 2015. Lou Moravecek made a motion to approve the receipts and disbursements and Ken seconded. Roll Call taken:

Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

OLD BUSINESS

Clerk Cathy Rothbard send out 4 requests for proposals for the annual audit, annual Illinois Department of Insurance report and House Bill 588. Listed below are the following and the responses.

1. Clifton Gunderson LLP, they did not respond

2. Wolf & Company joined BKD, LLP and stated they were not sending out proposals at this time.

3. Cohn Reznick Group quoted $10,000.00

4. Lauterbach and Amen quoted $7,165.00

An email vote was held with the following responses:

Lou Moravecek, Karl Rodey, Ken Goluszka, and Allen Arneson all voted to retain Lauterbach and Amen. Steve Jasinski did not respond. Lou Moravecek made a motion to ratify the email vote and retain Lauterbach and Amen, and Allen Arneson seconded. Roll Call: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

BILLS

1. Tom Radja attorney fees check#4476 $2,131.49

2. IDOI annual compliance fee check#4451 3,626.75

3. Cook County Clerk Ethics fee/Goluszka debit card 16.24

4. Micro Center 2 laser print cartridges debit card 257.38

5. Post Office overnight mailing/stamps debit card 65.95

Lou Moravecek made a motion to accept the above bills and Steve Jasinski seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

RESOLUTIONS

2015-001-R Morgan Stanley GNMA MA2668 due 3/20/45 at 4/00% $298,944.57

Lou Moravecek made a motion to accept ratification of above resolution and Ken Goluszka seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

APPLICATIONS FOR MEMBERSHIP INTO POLICE PENSION FUND

The Countryside Police Department hired two new patrol officers, Michael Maher date of hire

07/06/2015 and Ryan Venem date of hire 06/29/2015. Both have requested membership into the

police pension fund. The board has not received the actual completed application form back from Michael Maher. Lou Moravecek made a motion to accept Ryan Venem’s application for membership and Karl Rodey seconded. All in favor yes, no nayes, motion carried unanimously. Lou Moravecek made a motion to accept to accept Michael Maher into the police pension fund with ratification upon receiving his completed application and Karl Rodey seconded. All in favor yes, no nayes, motion carried unanimously.

APPLICATION FOR BENEFITS

The board received Master Sergeant John Mikel’s application for retirement benefits effective May 22, 2015. An email vote was held and it was unanimously agreed to accept his

application for benefits. Listed below is a breakdown of his pension benefits calculations.

Annual Salary $106,291.00

Nine Holidays 3,679.20 ($51,10 hourly rate X 72 hours)

Longevity Pay 22,100.00 ($850.00 X 26 pay periods)

Total Salary $132,070.20

Gross annual benefit $89,147.39 = 67.50% of $132,070.20 salary

Gross monthly benefit 7,428.95

Prorated May gross benefit 2,156.79

An email vote was held for approval of benefit calculations: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson no, and Steve Jasinski no. Three yes votes, and 2 no votes, motion carried.

The board received Investigator Patrol Officer Mark Battaglia’s application for retirement benefits effective July 4, 2015. An email vote was held and it was unanimously agreed to accept his application for benefits. Listed below is a breakdown of his pension benefits calculations.

Annual Salary $ 91,037.00

Nine Holidays 3,150.72 ($43.76 hourly rate X 72 hours)

Longevity Pay 22,100.00 (850.00 X 26 pay periods)

Total Salary $116,287.72

Gross annual benefit $87,215.79 = 75.00% of $116,287.72 annual salary

Gross monthly benefit 7,267.98

Prorated July gross benefit 6,330.18

An email vote was held for approval of benefit calculations: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson no, and Steve Jasinski no. Three yes votes, and 2 no votes, motion carried.

Lou Moravecek made a motion to ratify the email votes regarding both pension benefit calculations as read and Ken Goluszka seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All yes, no nayes, motion to ratify carried. Lou Moravecek also stated that no reply was received from the City Treasurer on either retiree calculation letters. Allen Arneson wanted to clarify why he voted no to the benefit calculations. Due to the longevity issue being litigated, he believes the longevity should not be issued to retirees until the litigation is settled by the courts. Depending on the ruling by the courts, it would be easier to pay them retroactive pay than to have to possibly have them owe money back to the pension fund.

NEW BUSINESS

The annual IPPFA MidAmerican Pension Training Conference is being held this year again in Lake Geneva, Wisconsin on October 6^th through October 9, 2015. Lou Moravecek made a motion to approve registration and fees for Karl Rodey, Ken Goluszka, and Lou Moravecek to attend the conference, and Allen Arneson seconded. Roll Call: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried.

Pension Clerk Cathy Rothbard requested an increase in pay from the pension board members.

A discussion was held while Cathy left the room. Lou Moravecek made a motion to increase clerk’s salary to $1100.00 per month effective August 1, 2015 and Steve Jasinski seconded. Roll Call taken: Lou Moravecek yes, Karl Rodey yes, Ken Goluszka yes, Allen Arneson yes, and Steve Jasinski yes. All ayes, no nayes, motion carried. She was advised when she came back into the meeting her request for an increase was granted by the board. Cathy thanked the board members.

LITIGATION UPDATE

Tom Radja, board attorney gave the board members a litigation update. He stated some of the depositions have been completed, and there are still more to go. The next court date is on September 9, 2015 for status on discovery.

Lou Moravecek made a motion to adjourn the meeting and Karl Rodey seconded. All ayes, no nayes, the meeting was adjourned at 5:48PM.

APPROVED: 11-5-2015

Louis Moravecek Karl Rodey

President Secretary