Firefighters' Pension Board

Edwardsville Firefighters Pension Board 333 North Main Street Edwardsville, Illinois 62025 618-692-7541 618-692-7567 Fax Regular Pension Board Meeting – October 24, 2017 Attendance Board members: James Whiteford, Dennis McCracken, Jim Anderson, Rich Hampton, Cole Schrage Absent: None Guests: Craig Larsen, Jorie Pitts Meeting Called to Order Whiteford called the meeting to order at 09:00 AM Approval of Minutes Schrage made a motion to accept the minutes of the August 1, 2017 meeting. Anderson made the second. Whiteford called for a vote. All members present voted “aye”. The motion passed. Public Comment None Communications and Bills Motion made by McCracken to approval Secretary Report. 2nd by Anderson. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0. IFPA seminar – No interest Bills paid – Monthly Lauterbach and Amen, AHC Advisors Reimbursement of AFFI seminar – Anderson $11.97, Whiteford $30.43, Schrage $1,141.15, AFFI $525.00 Treasurer’s report Hampton informed the board that tax revenue should start coming into the fund from the previous year. 60% of tax revenue has been received. Motion by Anderson to accept the Treasurer’s report along with L&As report. Second made by Schrage. . Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Old business Motion Jim Anderson to approve Fiduciary Insurance based upon the presentation matching the email quote and that all questions are answered to a satisfactory level with 7 days of todays meet. 2nd by Schrage. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Cole Schrage to follow up with PFM with no response. New Business Motion by Schrage. 2nd by Anderson. Approval of reimbursement to Nic Edwards of his full pension contributions based upon the city and L&A amounts matching. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Pension Updated form AFFI seminar reported that member Anderson, Schrage, and Whiteford attended the seminar and received 16 CEUs to meet the state requirement for continued education. PNC – January meeting PNC will be conducting their annual report to the pension board. Motion by McCracken. 2nd by Anderson. Motion to approve new hire Andy Reiger to be accepted into the pension system. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Motion by Anderson. 2nd by Schrage. Motion to approve Pension Dates for 2018 – January 23, April 24, July 24, and October 23. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Actuarial – L&A actuarial recommendation of $970, 054.00, Statutory minimum $761,424. Motion by Anderson. 2nd by Schrage. Motion to request the amount of $970,054 per L&A Entry Age Normal Actuarial study from the city to the pension fund. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Investment – Motion by Hampton. 2nd by Anderson. Motion to move $200,000 from Fidelity Money Market to Equity Investment per Craig Larson’s advice. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Motion by Anderson. 2nd by Schrage. Motion to make corrections to Appendix A. Roll Call vote. Hampton Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Schrage Aye. Vote passes 5-0 Adjournment Anderson made a motion to adjourn. The second was made by Schrage. Whiteford called for a vote. Schrage Aye. Anderson Aye. Whiteford Aye. McCracken Aye. Hampton Aye. Vote passes 5-0. Meeting adjourned at 10:45 AM