Police Pension Board

MINUTES CITY OF DEKALB DeKalb Police Pension Fund January 28, 2016 @ 10:00 am The DeKalb Police Pension Fund held a Meeting on January 28, 2016 at the DeKalb Police Department, 700 W. Lincoln Highway, DeKalb, IL President Jim Kayes called the meeting to order at 10:15 am A. ROLL CALL Secretary Tracy Smith called the roll and the following members of the DeKalb Police Pension Fund were present: Jim Kayes, Paul Mott, Mark Leach, and Tracy Smith. Members absent at roll call were: Cathy Haley Also present were: Dave Wall of Wall & Associates B. APPROVAL OF THE AGENDA – ADDITIONS / DELETIONS  Agenda approved on voice vote by President Kayes. 3 ayes. Cathy Haley absent. C. PUBLIC PARTICIPATION  None D. APPROVAL OF MINUTES  Minutes from the DeKalb Police Pension Fund Meeting on October 15, 2015 by voice vote from President Kayes. 3 ayes. Cathy Haley absent. E. OLD BUSINESS  Demand Letter sent to Mayor and Council on November 10, 2015. Only one comment.  IDOI Actuarial Valuation sent to Illinois Department of Insurance on December 4, 2015  Sharpe Actuarial Valuation Report sent to Mayor and City Council on December 4, 2015  Received Results of Diedrich Annual Examination DeKalb Police Pension Fund Meeting Minutes January 28, 2016 Page 2 of 3  2016 COLA Increase o Motion by Tracy Smith to approve COLA increase for 2016. Second by Paul Mott. Roll call vote by President Kayes. Yes votes from Tracy Smith, Paul Mott and Mark Leach. Cathy Haley absent. President Kayes declared the motion passed.  Gene Lowery Chapter 3 transfer o Motion by Tracy Smith to approve the Chapter 3 transfer of two years, one month and 27 days of service from Crystal Lake PD to DeKalb PD. Changes Lowery Date of Hire to April 2, 2010. Effective January 31, 2016. Second by Paul Mott. Roll call vote by President Kayes. Yes votes from Tracy Smith, Paul Mott and Mark Leach. Cathy Haley absent. President Kayes declared the motion passed. F. TREASURES REPORT  Dave Wall provided quarterly report on fund performance as well as End of Year Report for 2015. Wall advised that the fund is well within out investment policy and state guidelines. Discussion by all parties on the benchmarks of funds. G. NEW BUSINESS  Bills for Payment o Motion by Tracy Smith to pay bills listed on agenda. Second by Mark Leach. Roll call vote by President Kayes. Yes votes from Tracy Smith, Paul Mott and Mark Leach. Cathy Haley absent. President Kayes declared the motion passed.  Application for Membership o Application for pension membership for Danielle Huber Date of Hire: 12/28/15. Motion to approve by Paul Mott, Second by Mark Leach. President Kayes called for a voice vote. 3 ayes. Cathy Haley absent. President Kayes declared motion passed. DeKalb Police Pension Fund Meeting Minutes January 28, 2016 Page 3 of 3 H. REQUEST FOR BENEFITS  Request for pension benefits for Curt Biarnesen who retired on October 24, 2015.  Request for pension benefits for J. Kent Quist who retired on November 5, 2015.  Request for pension benefits for Rich Reynolds who retired on January 1, 2016. Motion made by Mark Leach to approve pension benefits for Biarnesen, Quist and Reynolds. Second my Paul Mott. Roll call vote by President Kayes. Yes votes from Tracy Smith, Paul Mott and Mark Leach. Cathy Haley absent. President Kayes declared the motion passed. I. ADJOURNMENT  Motion by Mark Leach to adjourn. Second by Paul Mott. Voice vote on motion. 3 ayes. Cathy Haley absent. President Kayes declared motion passed and meeting adjourned. __________________________________________ Tracy D. Smith Secretary __________________________________________ Jim Kayes President *******Minutes approved by DeKalb Police Pension Fund on April 15, 2016.