Firefighters' Pension Board

Edwardsville Firefighters Pension Board 410 North Main Street Edwardsville, Illinois 62025 618-692-7541 618-692-7567 Fax ____________________________________________________________________________ Special Pension Board Meeting – October 2, 2015 Attendance Board members present: James Whiteford, Cole Schrage, Rich Hampton, Dennis McCracken, and James Anderson Guest: Jeremy Paschall Meeting Called to Order Whiteford called the meeting to order at 1335. Public Comment None New Business Meeting to determine the board’s response to the IDOI Records Audit Whiteford presented the IDOI audit findings. One issue has since been resolved. The report identified Terry Becker’s benefit as being miscalculated in that his holiday pay was paid over what he should have been. The audit indicated the wrong contract therefore the error was erroneous. Whiteford contacted Mr. Sartain, Audit Manager of the IDOI, by phone who stated that IDOI was in error and this issue should not be a consideration of the board. The board agreed upon the following responses to the issues raised by the IDOI: 1. The treasurer, Richard Hampton, was not a required signer on all accounts of the fund in contravention with 40 ILCS 5/1-113.1, 40 ILCS 5/4-122, 40 ILCS 5/4-123, 40 ILCS 5/4-130, and 40 ILCS 5/4-132. The board will ensure compliance and provide that the treasurer is a signer on all accounts. 2. The fund did not file its independent actuarial statement with the Public Pension Division within nine months after the close of the fiscal year in contravention with 40 ILCS 5/1A-111. The board recognizes the error and will take steps to prevent it in the future. 3. Employee pension contributions were assessed on compensation which did not meet the definition of salary in contravention with 40 ILCS 5/4-118.1 and 50 Illinois Administrative Code 4402. The board will make changes to withholdings to comply with the statute and recommend to the union to make the pertinent section of the bargaining agreement compliant with statute. 4. The retirement pension for Terry Becker was not computed based upon salary attached to rank at the date of retirement in contravention with 40 ILCS 5/4-118.1 and 50 Illinois Administrative Code 4402. Whiteford spoke with Mr. Sartain who sated the IDOI made a mistake and Mr. Becker’s issue is resolved.  5. The board did not award a child’s disability benefit to Mark Parker in contravention with 40 ILCS 5/4-110 and 40 ILCS 5/4-109.1. Minutes reflecting the appropriate payment was made will be provided. 6. The annual statement filed with the Public Pension Division did not fully comply with 40 ILCS 5/1A-109 in that the participant data for Terry Becker, Thomas Dannenberg, Carl Hoffner, Mark Parker, Jerry Wade, and David West was reported inaccurately. The board acknowledges the accounting records discrepancies. The board since the time period the IDOI audit reviewed has changed record keeping and accounting services due to the board having trouble with the previous service provider. The board has implemented new record keeping procedures to prevent further discrepancies. Schrage made a motion to accept the above responses to the IDOI’s audit findings. Anderson provided the second. Whiteford asked for a roll call vote: Whiteford: aye Anderson: aye Hampton: aye McCracken: aye Schrage: aye The motion passed. Whiteford stated he would draft a letter with the approved responses and send it to the IDOI. Adjournment Anderson made a motion to adjourn. Schrage provided the second. Whiteford called for a vote. All members voted aye. The motion passed. Meeting ended at 1414 _________________________________________ Respectfully submitted by Jeremy Paschall Assistant to the Secretary