Police Pension Board

DEKALB POLICE PENSION FUND Board of Trustees AGENDA October 16, 2020 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 July 21, 2020. 4. Public Comment. 5. Treasurer’s Report. 6. Old business. 7. Bills for Payment. a) Consulting fee Wall and Associates 09/30/20 $13,872.17 for 3rd quarter 2020. b) Lauterbach and Amen #46752 07/20/20 $840 for June, 2020; #46484 6/15/20 FY19 IDOI report $1,370 (30396 7/30/20 for both); #47718 8/20/20 $840 for July, 2020 (30401 8/24/20); #48350 9/20/20 $840 for August, 2020 (30405 9/28/20); #49132 10/20/20 $840 for September, 2020. c) Reimer & Dobrovolny PC #26373 09/14/20 $745.00 for Guzinski disabilities, opinion on trustee residency (30402 9/17/20). d) First National Bank #5011032 10/09/20 $827.00 for 3rd quarter, 2020. e) City of DeKalb 4/27/20 $3,376.50 for 50% of Foster & Foster FY20 actuarial valuation (30398 7/28/20). f) IPPFA 2020 Conference registration Kayes, Mott, and Boldt $1,155.00 (30397 7/29/20). 8. Applications for Membership a) Ludwig 9. Requests for Benefits a) Officer Aaron Lockhart DOR: 06/30/20 b) Sgt. Mike Stewart resigned: 8/10/19 date of pension: 11/5/20. 10. New Business a) Approval of updated investment policy. b) Note Officer Ferrigan’s transfer of creditable service of two years and 22 days from Skokie PD, changing his DOH from 02/03/97 to 01/12/95.  c) Resignation of Officer Joshua Boldt. Adjournment. Next meeting January 15, 2021. 2021 meeting dates: January 16, April 16, July 16, and October 15.  Minutes DeKalb Police Pension Board July 21st, 2020 at 10:00 a.m. A. Roll Call a. Vice President Paul Mott called the roll and the following members of the DeKalb Police Pension Funder were present: Jim kayes, Paul Mott, Patrick Fagan and Joshua Boldt. b. Also present: David Wall with Wall & Associates. B. Approval of Agenda – Additional / Deletions a. Agenda approved on voice vote by President Kayes. 4 ayes. C. Public Participation a. None D. Approval of Minutes a. Minutes from the DeKalb Police Pension Fund Meeting on May 21st, 2020 were approved by voice vote. 4 ayes (Jim Kayes, Paul Mott, Joshua Boldt, and Patrick Fagan). E. Investment Manager Report a. David Wall provided the quarterly report on fund performance for the second quarter of 2020. F. Old Business a. None G. Bills for Payment a. Motion by Paul Mott to pay the bills listed on the agenda. Second by Patrick Fagan. Roll call vote by Secretary Mott. Yes votes from Joshua Boldt, Paul Mott, Patrick Fagan and Jim Kayes. President Kayes declared the motion passed. H. Applications for Membership  a. Application for pension membership of the following: i. Mason Fleury DOH: 06/22/2020 ii. Brian Rodriguez DOH: 06/22/2020 b. Motion to approve by Patrick Fagan, second by Paul Mott. Yes votes from Joshua Boldt, Paul Mott, Patrick Fagan and Jim Kayes. President Kayes declared the motion passed. I. Requests for Benefits a. Application for benefits received by the following: i. John Petragallo DOR: 06/02/2020 ii. Jeff Winters Resigned: 01/03/19, Deferred Until 08/03/20 b. Motion to approve by Paul Mott, second by Patrick Fagan. Yes votes from Joshua Boldt, Paul Mott, Patrick Fagan and Jim Kayes. President Kayes declared the motion passed. J. New Business a. Election of Pension Board Officers i. Secretary Mott presented the following Slate of officers: President Jim Kayes, Vice President Joshua Boldt, Secretary Paul Mott, Assistant Secretary Patrick Fagan. ii. Approved by voice vote with 4 Ayes (Jim Kayes, Paul Mott, Joshua Boldt, and Patrick Fagan). b. Continuation of Diedrich disability benefit based on latest exam. i. Motion to approve by Paul Mott, second by Patrick Fagan. Yes votes from Joshua Boldt, Paul Mott, Patrick Fagan and Jim Kayes. President Kayes declared the motion passed. c. Consideration of Lawsuit Opposing Consolidation i. President Kayes spoke with a representative of the Konicek and Dillon Law Firm regarding a lawsuit opposing the consolidation of downstate pension funds. ii. Motion by Paul Mott to participate in the lawsuit at a cost of no more than $25,000 and the participation of at least ten pension boards. Second by Patrick Fagan. Roll call vote by Secretary Mott. Yes votes from Joshua  Boldt, Paul Mott, Patrick Fagan and Jim Kayes. President Kayes declared the motion passed. K. Adjournment a. Motion by Paul Mott, second by Patrick Fagan at 10:39 a.m. Approved by voice vote with 4 Ayes (Jim Kayes, Paul Mott, Joshua Boldt, and Patrick Fagan). ____________________________________ Paul Mott Secretary ____________________________________ Jim Kayes President *****Minutes approved by DeKalb Police Pension Fund on October 16th, 2020 *****