Fire Pension Board

MINUTES CITY OF DEKALB DeKalb Firefighters Pension Fund November 6, 2020 The Board of Trustees of the DeKalb Firefighters Pension Fund held a Regular Meeting on November 6, 2020, in the training room at DeKalb Police Headquarters, 700 West Lincoln Highway, DeKalb, Illinois. President of the Board Pat Eriksen called the meeting to order at 2:06 PM. ROLL CALL Pat Eriksen called the roll. Members of the DeKalb Firefighters Pension Fund present included Pat Eriksen, Chris Ziola, Ray Krueger, and Fire Chief Jeff McMaster. Bill Kalal was absent. Also present were Assistant City Manager Josh Boldt and Administrative Assistant Natalie Nelson as recording secretary. Investment adviser Craig Larsen participated remotely with audio. APPROVAL OF AGENDA Chris Ziola motioned to approve the agenda, Pat Eriksen seconded the motion, and the motion passed by unanimous voice vote. APPROVAL OF MINUTES Chief McMaster motioned to approve the minutes from July 9, 2020, Chris Ziola seconded the motion, and the motion passed by unanimous voice vote. PUBLIC PARTICIPATION None. OLD BUSINESS Seminars Pat Eriksen reported all seminars are postponed indefinitely. AFFI is working on providing a virtual pension conference online soon. Mr. Eriksen will inform pension board members of details when they available. He stated that training disks from the IPAC seminar have not been received yet. NEW BUSINESS Assignment of AHC Advisors contract DeKalb Firefighters Pension Fund November 6, 2020 Page 2 of 3 Craig Larsen stated that AHC Advisors would be joining Mission Wealth Management. The office staff will remain the same, as will the terms of the current contract. The business name and email addresses will change. Mr. Larsen requested pension board approve to reassign the current contract from AHC Advisors, Inc. to Mission Wealth. Pat Eriksen motioned to approve reassigning the consulting contract to Mission Wealth Management, Ray Kreuger seconded the motion, and a roll call vote was conducted. Ayes: Ziola, Eriksen, McMaster, Krueger. Nays: none. The motion passed. Larsen will send the document to Pension Board President Pat Eriksen and Vice President Chris Ziola. They will sign the document and return it to Mr. Larsen. Investment Manager Report – Third Quarter Craig Larsen reported that Assistant City Manager Joshua Boldt, as City of DeKalb treasurer, will be a signer on the Fidelity account. Mr. Eriksen will provide Mr. Boldt’s contact information to Mission Wealth Management. Mr. Larsen presented the third quarter report. He summarized the third quarter returns and discussed factors affecting investment performance. Discussion followed regarding planning for the future. Mr. Larsen stated that no predictions can made with any certainty. Required Investment Transactions No discussion. This will be addressed at the next meeting. Approval of Financial Transactions and Financial Reports None. Review and Update Asset Allocation No discussion. No changes. Accounts Payable – Review of Invoices and Expenses None. Retirements None. DeKalb Firefighters Pension Fund November 6, 2020 Page 3 of 3 New Members None. Request for Benefits None. Military Service Time Buyback None. Service Breaks and Pension Funding None. Discussion of Topics for Next Meeting Agenda The following topics will be on the agenda for the January meeting: • Diversifying funds for actuarial • Board member terms: Chris Ziola’s term ends now; Pat Eriksen’s term ends April 2021 Fire Pension Fund board meetings have traditionally been 8:00AM on the second Thursdays in January, April, July and October. The members present agreed to the meet the following dates, pending meeting room availability: • January 14 • April 8 • July 8 • October 14 Natalie Nelson will confirm the meeting room at City Police Headquarters is available. Pat Eriksen will ensure Craig Larsen is notified of the dates. ADJOURNMENT Chris Ziola motioned to adjourn the meeting, Ray Krueger seconded the motion, and the motion passed by unanimous voice vote. The meeting adjourned at 2:49 PM. Natalie Nelson, Recording Secretary Minutes approved by DeKalb Firefighters Pension Board on January 21, 2021