Police Pension Fund Board

Carbondale Police Pension Fund Board Meeting Minutes July 16, 2024 1.) Call to Order/Roll Call Jeff Davis called the meeting to order at 2pm in Room 112 of Carbondale City Hall, moved from Room 103 due to construction. Trustee Brandon Weisenberger and Timothy Lomax (who was present to be installed as trustee under Item 3) were present with Davis. Paul Echols (work-related reason) and Robert Conway (family medical emergency) attended via teleconference. Attorney Orsey also attended via teleconference. 2.) Public Comments N/A 3.) Discuss Results of Election / Appointment for Board Members Davis explained that Conway received 18 uncontested nominations in the retired member trustee solicitation. Weisenberger explained that Lomax and he were the only uncontested self- nominations in the active member trustee solicitation. Davis was reappointed during an April 2024 City Council meeting. Weisenberger moved, the board voted by unanimous roll call, to approve the nominations and the seating of these trustees, with terms expiring 5/14/2026. 4.) Seating of New Active Duty Board Member Attorney Orsey explained the new-trustee training requirements to Lomax. 5.) Reorganization of Board / Election of Officers Paul Echols self-nominated for president. Echols nominated Conway for vice president; however, Conway rejected that nomination when Davis self-nominated for vice president. Echols nominated Weisenberger for secretary and FOIA/OMA officer. Echols nominated Conway for assistant secretary. Conway moved, and the board voted by unanimous roll call, to approve the following slate of officers: i.) Echols for president ii.) Davis for vice president iii.) Weisenberger for secretary iv.) Conway for assistant secretary v.) Weisenberger for FOIA/OMA officer 6.) Minutes Conway moved, and the board voted by unanimous roll call, to approve the minutes of the 4/23/2024 meeting. 7.) Correspondence a.) Conway moved, and the board voted by unanimous roll call, to accept the engagement letter from Kerber, Eck & Braeckel LLP, with audit expenses not to exceed $7,100. b.) N/A 8.) Bills N/A 9.) Treasurer’s Report a.) Davis moved, and the board voted by unanimous roll call, to approve the treasurer’s report, which showed the fund had a market value of $59,009,030 at the end of June 2024, with payroll at $333,827.89. b.) Echols moved, and the board voted by unanimous roll call, to name Weisenberger as the second signatory on the board’s local checking account. 10.) Investment Report a.) Conway moved, and the board voted by unanimous roll call, to accept the investment report as presented by Davis. The investment report consisted of a review of the April and May 2024 financial statements from IPOPIF. b.) Conway moved, and the board voted by unanimous roll call, to add Lomax as an authorized agent for IPOPIF and to remove former trustee Anthony Williams from the State Street Enterprise Cash Flow Module. 11.) Old Business a.) Conway moved, and the board voted by unanimous roll call, to approve the decision and order continuing Trey Harris’s disability pension benefit. b.) Conway reported needing 10 additional hours of trustee training. c.) Weisenberger moved, and the board voted by unanimous roll call, to approve the amended QILDRO calculation order attached to Peter Emmett’s pension, affecting alternate payee distributions to Gwen Crawshaw. The payment schedule allows for payments of $554.71 starting in 2024, and increasing through 2024. d.) This matter was previously discussed and acted upon under Item 7A. e.) Davis explained $43,706.87 was transferred to the Murphysboro Fire Pension Fund on behalf of Steven McBride. Lomax moved, and the board voted by unanimous roll call, to approve the disposition of this process. 12.) New Business a) Davis advised that auditors were on-site on 7/15/2024, and filing was on track for the October deadline. b) Attorney Orsey advised that Daniel Rice’s annual disability review was in progress, and could be ready for the October meeting. c) The board is awaiting communication from Brody Jeters reference a potential transfer of contributions to SERS. d) No action was taken, pending a written request from Brian Tapley reference a potential reinstatement of his pension contributions. e) Echols moved, and the board voted by unanimous roll call, to approve a $6,800 payment to MWM for preparation of the actuarial report. 13.) Application for Membership Weisenberger moved, and the board voted by unanimous roll call, to approve Dillon Turk’s application. He is a Tier II member with a start date of 7/15/2024. Turk was previously a member from 8/7/2017 to 10/28/2021. On 12/14/2021, the board approved Turk’s full contribution refund request of $23,516.17. 14.) Application for Benefits N/A 15.) Adjournment Weisenberger moved, and the board voted by unanimous roll call, to adjourn the meeting. The next meeting is scheduled for 2pm on 10/15/2024 in Room 103 of Carbondale City Hall. Respectfully submitted, Brandon Weisenberger Board Secretary