Police Pension Board
Regular MeetingDeKalb, IL · October 21, 2022
Minutes
Minutes
DeKalb Police Pension Board
October 21st, 2022, at 10:00 a.m.
A. Roll Call
a. President Jim Kayes called the roll at 10:12 a.m. and the following members of
the DeKalb Police Pension Fund were present: Jim Kayes, Keith Ehrke, Patrick
Fagan, Carrie Dittman and Craig Woodruff.
B. Approval of Minutes of July 8, 2022.
a. Motion by Carrie Dittman to approve the Minutes of July 8, 2022, second by
Patrick Fagan. Approved by voice vote with 5 Ayes (Jim Kayes, Keith Ehrke,
Patrick Fagan, Carrie Dittman and Craig Woodruff).
C. Public Participation
a. None
D. Investment Advisor’s Report
a. David Wall was present and went over the DeKalb Police Pension Fund Report.
b. Discussion about utilizing the $2,957,305 in cash sitting in the Goldman Sachs FS
Government FST.
c. Motion by Keith Ehrke to utilize $2,000,000 in cash from the Goldman Sachs FS
Government FST to purchase Exchange Traded-Funds (ETF’s). Second by Carrie
Dittman. Roll Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Keith Ehrke,
Patrick Fagan, Carrie Dittman, and Craig Woodruff. President Kayes declared the
motion passed.
E. Old Business
a. None
F. Bills for Payment:
1. Consulting fee Wall and Associates 9/30/22 $15,591.71 for 3nd quarter 2022.
2. Lauterbach and Amen #67019 06/20/22 $890 for May, 2022 (67019 5/22/22); #67597
07/20/22 for June, 2022; #68512 8/20/22 for July, 2022; #69499 8/28/22 $1,455 for
FY21 IDOI report; 69809 9/20/22 $890 for August, 2022.
3. Konicek & Dillon, P.C. #16676 07/27/22 $266.05 consolidation lawsuit (30529
8/2/22).
4. Foster & Foster #24836 09/27/22 $300 Ackland true cost calculation.
5. IPPFA Certified Trustee Program December 6-7, 2022, registration fees $1,000 for
Ehrke and Woodruff (30532 8/30/22).
6. IPPFA MidAmerican Pension Conference registration fees Kayes, Woodruff and
Ehrke 6/16/22 $1,275.
7. IPPFA 2023 membership dues 9/14/22 $795
8. First National Bank #5012646 7/11/22 $864.00 for 2nd quarter, 2022 (30528 8/2/22);
#5012868 10/11/22 $827.00 for 3rd quarter, 2022.
9. IDOI FY21 Compliance Fee 6/30/22 $8,000 (30524 7/13/22).
10. City of DeKalb FY21 audit fee 07/14/22 $4,870.
a. Motion by Patrick Fagan to pay bills listed in agenda, second by Carrie Dittman.
Roll Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Keith Ehrke, Patrick
Fagan, Carrie Dittman, and Craig Woodruff. President Kayes declared the motion
passed.
G. Applications for Membership
a. Motion by Patrick Fagan to accept new (Tier 2) pension membership application
from Anthony Antrobus (Date of Hire 5/20/22). Second by Carrie Dittman. Roll
Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie
Dittman, Craig Woodruff and Keith Ehrke. President Kayes declared the motion
passed.
b. Motion by Carrie Dittman to accept new (Tier 2) pension membership application
from Savannah Long (Date of Hire 5/16/22). Second by Patrick Fagan. Roll Call
vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie Dittman,
Craig Woodruff and Keith Ehrke. President Kayes declared the motion passed.
c. Motion by Carrie Dittman to accept new (Tier 2) pension membership application
from Conrad Newhouse (Date of Hire 8/8/22). Second by Patrick Fagan. Roll
Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie
Dittman, Craig Woodruff and Keith Ehrke. President Kayes declared the motion
passed.
d. Motion by Keith Ehrke to accept new (Tier 2) pension membership application
from Jesus Rodriguez (Date of Hire 8/8/22). Second by Carrie Dittman. Roll
Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie
Dittman, Craig Woodruff and Keith Ehrke. President Kayes declared the motion
passed.
e. Motion by Carrie Dittman to accept new (Tier 2) pension membership application
from Justin Hickman (Date of Hire 9/6/22). Second by Craig Woodruff. Roll
Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie
Dittman, Craig Woodruff and Keith Ehrke. President Kayes declared the motion
passed.
H. Request for Benefits
a. Jeffrey Ackland
1. Motion by Carrie Dittman to recognize that the purchase (transfer
creditable service) of 4 years, 4 months, 5 days from the Yorkville Police
Pension Fund to the DeKalb Police Pension Fund has been paid in full.
Second by Patrick Fagan. Roll Call vote by Keith Ehrke. Yes, votes from
Jim Kayes, Patrick Fagan, Carrie Dittman, Craig Woodruff and Keith
Ehrke. President Kayes declared the motion passed.
2. Motion by Carrie Dittman to acknowledge the revised date of Jeffery
Ackland’s date of hire of June 3, 2002. Second by Keith Ehrke. Roll Call
vote by Keith Ehrke. Yes, votes from Jim Kayes, Patrick Fagan, Carrie
Dittman, Craig Woodruff and Keith Ehrke. President Kayes declared the
motion passed.
3. Motion by Carrie Dittman to approve Jeffery Ackland’s pension benefit,
effective date 8/01/2022, with an Applicable Salary of $100,868.80 and
Amount of the Original Monthly Pension Granted to Member being
$4,202.87. Second by Patrick Fagan. Roll Call vote by Keith Ehrke. Yes,
votes from Jim Kayes, Patrick Fagan, Carrie Dittman, Craig Woodruff and
Keith Ehrke. President Kayes declared the motion passed.
b. Motion by Carrie Dittman to approve Laurie Leiser’s survivor benefit of Ralph
Leiser, deceased August 20, 2022, with an Applicable Salary of $45,316.00 and
Amount of the Original Monthly Pension Granted to Member being $2,190.27.
Second by Patrick Fagan. Roll Call vote by Keith Ehrke. Yes, votes from Jim
Kayes, Patrick Fagan, Carrie Dittman, Craig Woodruff and Keith Ehrke.
President Kayes declared the motion passed.
I. New Business
a. 2023 Pension Budget
1. Motion by Patrick Fagan to amend the training budget to $2,500. Second
by Craig Woodruff. Roll Call vote by Keith Ehrke. Yes, votes from Jim
Kayes, Patrick Fagan, Carrie Dittman, Craig Woodruff and Keith Ehrke.
President Kayes declared the motion passed.
2. Motion by Keith Ehrke to approve the FY 2023 Proposed Budget.
Second by Patrick Fagan. Roll Call vote by Keith Ehrke. Yes, votes from
Jim Kayes, Patrick Fagan, Carrie Dittman, Craig Woodruff and Keith
Ehrke. President Kayes declared the motion passed.
J. Adjournment
a. Motion to adjourn by Patrick Fagan, second by Craig Woodruff at 11:15am.
Approved by voice vote with 5 Ayes (Jim Kayes, Keith Ehrke, Patrick Fagan,
Carrie Dittman and Craig Woodruff).
____________________________________
Keith Ehrke Secretary
____________________________________
Jim Kayes President
*****Minutes approved by DeKalb Police Pension Fund on January 27th, 2023*****
Agenda
DEKALB POLICE PENSION FUND
Board of Trustees
AGENDA
October 21, 2022
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 8, 2022.
4. Public Comment.
5. Investment Advisor’s Report.
6. Old business.
7. Bills for Payment.
a) Consulting fee Wall and Associates 9/30//22 $15,591.71 for 3rd quarter 2022.
b) Lauterbach and Amen #67019 06/20/22 $890 for May, 2022 (67019 5/22/22); #67597
7/20/22 for June, 2022; #68512 8/20/22 for July, 2022; #69499 8/28/22 $1,455 for FY21
IDOI report; #69809 9/20/22 $890 for August, 2022.
c) Konicek & Dillon, P.C. #16676 07/27/22 $266.05 consolidation lawsuit (30529 8/2/22).
d) Foster & Foster #24836 09/27/22 $300 Ackland true cost calculation.
e) IPPFA Certified Trustee Program December 6-7, 2022 registration fees $1,000 for Ehrke and
Woodruff (30532 8/30/22).
f) IPPFA MidAmerican Pension Conference registration fees Kayes, Woodruff, and Ehrke
06/16/22 $1,275.
g) IPPFA 2023 membership dues 09/14/22 $795.
h) First National Bank #5012646 07/11/22 $864.00 for 2nd quarter, 2022 (30528 8/2/22);
#5012868 10/11/22 $827.00 for 3rd quarter, 2022.
i) IDOI FY21 Compliance Fee 06/30/22 $8,000 (30524 7/13/22).
j) City of DeKalb FY21 audit fee 07/14/22 $4,870.
8. Applications for Membership
a) Anthony Antrobus DOH: 05/20/22
b) Savannah Long DOH: 05/16/22
c) Conrad Newhouse DOH: 08/08/22
d) Jesus Rodriguez DOH: 08/08/22
e) Justin Hickman DOH: 09/06/22
9. Requests for Benefits
a) Jeffrey Ackland
1) Recognize that the purchase has been paid in full.
2) Acknowledge the revised date of hire of June 3, 2002.
3) Approve the benefit.
b) Laurie Leiser survivor benefit of Ralph Leiser, deceased August 20, 2022.
10. New Business
a) Approval of proposed 2023 Police Pension budget.
b) Discussion of Police Pension Fund cash flows.
Adjournment. Next meeting January 20, 2023. 2023 meeting dates: January 20, April 21, July 21, and
October 20.
Minutes
DeKalb Police Pension Board
July 8th, 2022, at 10:00 a.m.
A. Roll Call
a. President Jim Kayes called the roll at 10:10 a.m. and the following members of
the DeKalb Police Pension Fund were present: Jim Kayes, Keith Ehrke, Patrick
Fagan, Carrie Dittman and Craig Woodruff.
B. Approval of Minutes of April 15, 2022.
a. Motion by Patrick Fagan to approve the Minutes of April 15, 2022, second by
Craig Woodruff. Approved by voice vote with 5 Ayes (Jim Kayes, Keith Ehrke,
Patrick Fagan, Carrie Dittman and Craig Woodruff).
C. Public Participation
a. None
D. Investment Advisor’s Report
a. David Wall was present and went over the DeKalb Police Pension Fund Report.
b. No Questions or Comments.
E. Old Business
a. None
F. Bills for Payment: - Consulting fee Wall and Associates 6/30//22 $17,488.70 for 2nd
quarter 2022.
- Lauterbach and Amen #64957 04/20/22 $890 for March, 2022; #65507
04/12/22 $790 for Year End Auditor’s Workpapers for FY21; #66083
05/20/22 $890 for April, 2022.
- Konicek & Dillon, P.C. #16496 05/12/22 $40 consolidation lawsuit
#16597 06/21/22 $124.86 consolidation lawsuit.
- Foster & Foster #23837 06/06/22 $3,550 2020 Actuarial Valuation.
- IPPFA Conference October 5-7, 2022, registration fees $1,275.
a. Motion by Patrick Fagan to pay bills listed in agenda, second by Keith Ehrke.
Roll Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Keith Ehrke, Patrick
Fagan, Carrie Dittman, and Craig Woodruff. President Kayes declared the motion
passed.
G. Applications for Membership
a. None
H. Request for Benefits
a. None
I. New Business
a. Election of Board Officers: (Suggested motion by Keith Ehrke to approve the
following slate: President Jim Kayes, Vice President Craig Woodruff, Secretary
Keith Ehrke, Assistant Secretary Patrick Fagan)
Motion by Patrick Fagan to approve above stated slate, second by Craig
Woodruff. Approved by voice vote with 5 Ayes (Jim Kayes, Keith Ehrke, Patrick
Fagan, Carrie Dittman and Craig Woodruff).
b. Approval of Refunds:
i. Motion by Carrie Dittman to approve the refund of Officer Michael
Cicchetti, having a pre-tax total payroll contribution of $64,982.76 (See
attachment #A). Second by Patrick Fagan. Roll Call vote by Keith Ehrke.
Yes, votes from Jim Kayes, Keith Ehrke, Patrick Fagan, Carrie Dittman,
and Craig Woodruff. President Kayes declared the motion passed.
ii. Motion by Carrie Dittman to approve the refund of Officer Jordan
Poulos, having a pre-tax total payroll contribution of $71,127.33 (See
attachment #B). Second by Craig Woodruff. Roll Call vote by Keith
Ehrke. Yes, votes from Jim Kayes, Keith Ehrke, Patrick Fagan, Carrie
Dittman, and Craig Woodruff. President Kayes declared the motion
passed.
c. 12/31/2021 Actuarial valuation results: Motion by Carrie Dittman to approve the
12/31/2021 actuarial valuation results (See attachment #C). Second by Patrick
Fagan. Roll Call vote by Keith Ehrke. Yes, votes from Jim Kayes, Keith Ehrke,
Patrick Fagan, Carrie Dittman, and Craig Woodruff. President Kayes declared the
motion passed.
d. 12/31/2021 Audit results & Management Letter: Motion by Carrie Dittman to
approve the 12/31/2021 audit results and management letter (See attachment #D).
Second by Patrick Fagan. Roll Call vote by Keith Ehrke. Yes, votes from Jim
Kayes, Keith Ehrke, Patrick Fagan, Carrie Dittman, and Craig Woodruff.
President Kayes declared the motion passed.
e. Motion by Patrick Fagan to approve Jim Kayes and Carrie Dittman as the
authorized signers, on the DeKalb Police Pension Fund financial accounts and
Schwab Investment accounts, associated with the DeKalb Police Pension Fund.
Second by Keith Ehrke. Approved by voice vote with 5 Ayes (Jim Kayes, Keith
Ehrke, Patrick Fagan, Carrie Dittman and Craig Woodruff).
f. FY 2023 budget preparation discussion – Carrie Dittman will work-up budget to
bring to October Meeting.
J. Adjournment
a. Motion by Patrick Fagan, second by Craig Woodruff at 10:58am. Approved by
voice vote with 5 Ayes (Jim Kayes, Keith Ehrke, Patrick Fagan, Carrie Dittman
and Craig Woodruff).
____________________________________
Keith Ehrke Secretary
____________________________________
Jim Kayes President
*****Minutes approved by DeKalb Police Pension Fund on October 21st, 2022*****