Police Pension Board

DEKALB POLICE PENSION FUND Board of Trustees AGENDA April 20, 2018 10:00AM DeKalb Police Conference Room 700 W. Lincoln Hwy, DeKalb, IL 60115 1. Call to Order. CLOSED SESSIONS MUST BE TAPED! Post agenda 48 hours prior! 2. Roll Call. 3. Approval of Minutes of January 25, 2018. 4. Public Comment. 5. Treasurer’s Report. 6. Old business. 7. Bills for Payment. a) Consulting fee Wall and Associates 4/4/18 $10,360.54 for 1st quarter 2018. b) Reimer Dobrovolny & Karlson LLC #23423 03/05/18 $43.75 phone conference re: OMA requirements; #23486 3/26/18 $150.00 Diedrich annual evaluation. c) INSPE Associates Ltd #55831 2/12/19 $1,309.20 for Diedrich annual exam. d) Mesirow Insurance Services 4/9/18 renewal of fiduciary insurance $8,915.00. e) City of DeKalb 3/27/18 #12777 $4,500 for FY16 audit. 8. Applications for Membership 9. Requests for Benefits 10. New Business a) Approve Lauterbach and Amen recalculated DOH’s for Weese (new DOH 1/14/04), Stewart (new DOH 3/10/94), Reese (new DOH 4/30/91), Woodruff (new DOH 8/23/01), Mott (new DOH 4/20/98). b) Joyce Stupegia appointed to Board February 12, 2018 c) Election of active member and beneficiary member. d) Approve resolution to update signatures on custodial accounts. e) Approve appointment of Paul Mott as the OMA designee and FOIA officer of the Board. f) Approve resolution that attendance at outside meetings shall be at the discretion of the President and attended (at the pleasure of the President) by the President or his designee. g) Approval of continuation of Diedrich disability benefit. Adjournment. Next meeting July 27, 2018. 2018 meeting dates: January 25 (1/19/18 cancelled), April 20, July 27 (note this is 5th Friday of the month), and October 19.  MINUTES CITY OF DEKALB DeKalb Police Pension Fund January 25th, 2018 @ 10:00 am The DeKalb Police Pension Fund held a meeting on January 25th, 2018 10:00 am at the DeKalb Police Department, 700 W. Lincoln Highway, DeKalb, IL President Jim Kayes called the meeting to order at 10:08 am A. ROLL CALL Vice President Paul Mott called the roll and the following members of the DeKalb Police Pension Fund were present: Jim Kayes, Paul Mott, and Molly Talkington. Note: One mayoral position on the board are still unfilled. Also present were: Dave Wall of Wall & Associates and Joyce Stupegia, mayoral guest considering filling the vacant mayoral position. B. APPROVAL OF THE AGENDA – ADDITIONS / DELETIONS • Agenda approved on voice vote by Vice President Mott. 3 ayes. C. PUBLIC PARTICIPATION • None D. APPROVAL OF MINUTES • Minutes from the DeKalb Police Pension Fund Meeting on October 20th, 2017 were approved by voice vote. 3 ayes. (Jim Kayes, Molly Talkington, Paul Mott) E. OLD BUSINESS • None F. TREASURER’S REPORT • Dave Wall provided quarterly report on fund performance for fourth quarter of 2017 ending on December 31st, 2017. Wall advised that the fund is well within our investment policy and state guidelines.  • Dave Wall recommended updating the custodial account representatives. Agreed to add to the April 20th, 2018 meeting agenda. G. NEW BUSINESS • BILLS FOR PAYMENT o Motion by Molly Talkington to pay bills listed on agenda of January 25th, 2018. Second by Jim Kayes. Roll call vote by Vice President Mott. Yes, votes from Molly Talkington, Paul Mott and Jim Kayes. Vice President Mott declared the motion passed. • 2018 COLA o Motion by Molly Talkington to approve the 2018 COLA. Second by Jim Kayes. Roll call vote by Vice President Mott. Yes votes from Molly Talkington, Paul Mott and Jim Kayes. Vice President Mott declared the motion passed. • BOARD APPOINTMENT o Molly Talkington was appointed to the board by the mayor on November 13 th, 2017. Molly will complete the mandatory 32 hour pension training. • ACCOUNTING CONTRACT o Molly Talkington motioned to renew the contract with Lauterbach and Amen through 12/31/2020. Second by Jim Kayes. Roll call vote by Vice President Mott. Yes votes from Molly Talkington, Paul Mott and Jim Kayes. Vice President Mott declared the motion passed. • UPCOMING ELECTIONS o Discussion of the vacancy of Tracy Smith’s board position and election of the retiree position. o Retirees will be notified by email and/or mail. o A ballot box with notice will be posted at the Police Department on April 16th, 2018. • ADDITIONAL AGENDA o Jim Kayes motioned to review the open meeting act requirements. 3 ayes. o Discussion on OMA requirements versus city needs. The Board is legally obligated to comply with OMA law, and nothing beyond that. H. REQUEST FOR BENEFITS o Request for pension benefits to Burt Johnson DOR: 04/23/2018. Motion by Paul Mott. Second by Molly Talkington. Roll call vote by Vice President Mott. Yes, votes from Molly Talkington, Paul Mott and Jim Kayes. Vice President Mott declared the motion passed. I. ADJOURNMENT • Motion by Molly Talkington to adjourn. Second by Paul Mott. Voice vote on motion. 3 ayes. Vice President Mott declared motion passed and meeting adjourned. __________________________________________ Paul Mott Vice President __________________________________________ Jim Kayes President *******Minutes approved by DeKalb Police Pension Fund on April 20, 2018.