HomeMy WebLinkAbout02-06-23 Meeting MinutesGalesburg Fire Pension Fund Board of Trustees Meeting
City Hall, Erickson Conference Room
55 West Tompkins Street, Galesburg, Illinois
February 6, 2023
10:30 a.m.
Call to order by President John Seitz at 10:33 a.m.
Present:Kelli Bennewitz,John Cratty,Matt Lewis,Brad Nolden,and John Seitz.Others Present:
Alex Courtney.
President Seitz introduced Brad Nolden as the newest member of the Board.
John Cratty moved,seconded by Brad Nolden,to approve the minutes from the November 7,
2022, meeting. The motion carried.
Alex Courtney presented a financial statement for the fund ending December 31,2022.Total
assets are $24,934,599 and total liabilities are $295,764.The net position-restricted pension
benefits is $24,638,835.He also provided a transaction report for the period October -
December 2022.
New Business
Kelli Bennewitz moved,seconded by John Cratty,to approve 2023 cost of living increases for
retirees at a total amount of $6,955.37. The motion carried.
Kelli Bennewitz moved,seconded by John Cratty,to approve the following meeting dates:May
1, 2023; August 7, 2023; and November 6, 2023. The motion carried.
Brad Nolden moved,seconded by Matt Lewis,to approve the admission of Dakota Rideout into
the pension fund. The motion carried.
Kelli Bennewitz reported that she will be sending a letter to Sheila Perez,mother to Olivia
Wilder,that her benefit will be discontinued on her 18th birthday,February 15th.Wilder is the
minor child of deceased firefighter Michael Wilder.
Bennewitz reported that Joshua Lenz has opted to buy back 24 months of his military service at
an amount of $32,663.42. Lenz will have payroll deductions in the amount of $125.
Bennewitz announced that a retiree election will take place in April 2023.
Discussion was held on discontinuing the direct payment of insurance premiums to any
insurance carrier or making a deduction from a monthly pension for any member for the
purposes of any insurance premium.At this time,there are four retirees who have elected to
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have the exclusion and have the Fund pay their premium will be allowed to continue until their
insurance is terminated.John Cratty and John Seitz agreed to meet and discuss the issue with
the four retirees or their family members.
Kelli Bennewitz recommended sending affidavits,which are statements sent annually to active
payees,at the end of this year.These would include retirees,beneficiaries,and QUIOLDROs in
order to verify receipt of benefits from the fund,as well as current address information.Each
payee would need to sign the affidavit,have it notarized,and return it to the City Clerk’s office.
Currently, the affidavit states that benefits would be withheld until it is returned.
Upcoming certified trustee training opportunities:May 10 –12,2023,Eagle Ridge Resort,
Galena, IL. It was also noted that IML is continuing to offer online Pension Trustee at no cost.
Public Comment – None.
There being no further business, the meeting adjourned at 11:27 a.m.
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John Seitz, President Kelli R. Bennewitz, Secretary
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