Minutes - 09/11/2013 - Police Pension Fund Board VILLAGE OF OAK BROOK
BOARD OF TRUSTEES OF THE POLICE PENSION FUND-Minutes
September 11, 2013
UNOFFICIAL UNTIL APPROVED AS WRITTEN
OR AS AMENDED BY BOARD OF TRUSTEES OF THE
POLICE PENSION FUND ON October 23 2013
1. CALL TO ORDER:
The Special Meeting of the Board of Trustees of the Oak Brook Police Pension Fund was called
to order by Vice President Alan Feldman at 1:30 p.m. in the Upper Level Conference Room of the
Samuel E. Dean Board Room of the Butler Government Center, 1200 Oak Brook Road, Oak
Brook, Illinois.
2. ROLL CALL:
The roll was called with the following persons
PRESENT: President Vel Torlo, Vice President Alan Feldman, Trustee Benjamin Kadolph
ABSENT: Trustee Hitesh Patel, Secretary Edward Caspers
IN ATTENDANCE: Village Manager David Niemeyer, Finance Director Sharon Dangles and
Village Trustee Don Adler (all arrived after Roll Call)
3. NEW BUSINESS:
a. Discussion regarding Pension Board and Village actuarial services
Discussion ensued regarding the advantages/disadvantages of using one actuary for both
pension boards and the Village, but with different mortality tables, scenarios. It was suggested
that using one actuary would result in cost savings, no duplication of efforts and that the actuarial
firm needs to be appropriately qualified. It was expressed that using one actuary in the past has
not been advantageous to the Pension Board because that person had been unresponsive and
also the Pension Board would like to maintain independence and integrity of the study.
4. ADJOURNMENT:
Motion by President Torlo, seconded by Vice President Feldman, to adjourn the Board of
Trustees of the Police Pension Fund meeting at 3:15 p.m. VOICE VOTE: Motion carried.
ATTEST:
Ben' In Kadolph, Trustee
Bo rd of Trustees of the Police Pension Fund
BOARD OF TRUSTEES OF THE POLICE PENSION FUND
Minutes Page 1 of 1 September 11,2013