Minutes - 02/24/2016 - Firefighter's Pension Fund BoardMINUTES OF A SPECIAL MEETING OF THE BOARD OF TRUSTEES
OAK BROOK FIREFIGHTERS' PENSION FUND
February 24,20L6
A special meeting of the Board of Trustees of the Oak Brook Firefighters' Pension Fund was held on Wednesday,
February 24,2016 at 8:00 a.m., at the Butler Government Center, Upper Level Conference Room located a|1200
Oak Brook Road, Oak Brook, IL 60523, pursuant to notice, to conduct special business.
CALL TO ORDER: Secretary John Fagan called the meeting to order at 8:37 a.m.
ROLL CÄLL:
PRESENT:
ABSENT:
ALSO PRESENT
President Michael Erickson (aruived at 8:39 a.m.), SecreÍary John Fagan, Trustees
Timothy Schlindwein and George Kouba
Trustee Mark Fleishman
Allie Rysell, Lauterbach & Amen, LLP
PUBLIC COMMENT: There was no public comment.
The purpose of the special meeting was to review and discuss responses to RFP for investment consultant
services, conduct interviews, and to possibly select and approve investment contracts.
REVIEWDISCUSS RESPONSES TO RFP FOR INVESTMENT CONSULTANT SERVICES AND
CONDUCT INTERVIEWS: Interviews were conducted with the following hrms:
PNC Bank- Simon Reeves and Steve Eitel
Lowery Asset Consulting- Jeff Kowalcyk, Courtney Cervantes, andDanielPazar
Sawyer Falduto Asset Management, LLC- Tom Sawyer and John Falduto
DISCUSSION AND POSSIBLE SELECTION AND APPROVAL OF INTVESTMENT CONTRACTS:
The Board reviewecl all proposals and options presented, Discussion and examination of all proposals followed.
Trustee F'agan left the meeting at I l:46 a.m.
A motion was made by Trustee Schlindwein and seconded by Trustee Kouba to terminate Investment
Performance Services, LLC and retain Sawyer Falduto Asset Management, LLC, pending attorney review of the
investment contract. Motion camied by roll call vote.
AYES: Trustees Erickson, Schlindwein, and Kouba
NAYES: None
ABSENT: Trustees Fleishman and Fagan
ANNUAL INDEPENDENT MEDICAL EXAM - JENNIFER WHITE: Trustee Erickson informed the
Board that Jennifer White received her annual independent medical exam and remains disabled at this time. A
motion was made by Trustee Schlindwein and seconded by Trustee Kouba to continue Jennifer'White's duty
disability benefits pending further independent medical exams until age 50. Motion carried by roll call vote.
AYES: Trustees Erickson, Schlindwein and Kouba
NAYES: None
ABSENT: Trustees Fleishman and Fagan
CLOSED SESSION: There was no closed sesslon.
Oak Brook Firefighters' Pension Fund
Minutes of Special Meeting - February 24,2016
Page2 of2
ADJOURNMENT: A motion was made by Trustee Erickson and seconded by Trustee Kouba to adjourn the
meeting at I l:55 a.m. Motion carried unanimously by voice vote.
Respectfully submitted,
Mic.hael Erickson, President;
John Fagan, Secretary Date approved:t/lI
Minutes prepared by Allie Rysell, Pension Services Administrator, Lauterbach & Amen, LLP