Fire Pension Board

Fire Pension Board - Jul 23 2026 Agenda Quarterly, as needed at 2:00 PM Public Safety Facility, 285 N. Seven Hills Road Page 1. Opening 1.1 ROLL CALL 1.2 Public Comments 1.3 Approval of Minutes - April 23, 2026 3 260423FPAgenda.pdf Motion to approve the minutes of April 23, 2026 2. Correspondence 3. Bills 3.1 Warrant 26-15 Orsey Approve Warrant 3.2 Warrants 26-16, 17 & 18 G. Saunders Benefit Approve Warrants 3.3 Warrants 26-19, 20 & 21 T. Saunders Benefit Approve Warrants 4. Treasurer's Report 4.1 Cash Balance Discuss cash balance in Bank of O'Fallon account 5. Investment Report Page 1 of 4  5.1 IFPIF Investment Update June 2026 Investment Update 6. Old Business 6.1 Statement of Economic Interest Confirm submission 6.2 2026 Trustee Training Requirements Discuss training requirements 7. New Business 7.1 Election of Board Officers Need to elect president, secretary, & FOIA/OMA Officers Elect new board members 7.2 Annual Statement, Interrogatories and Audit Discuss need to file before Oct 2026 deadline 7.3 IPPFA Regional Seminar Discuss trustee training opportunity 8. Application for Membership 9. Application for Benefits 10. Adjournment 10.1 Next Meeting Date 22 Oct 2026 @2pm Website: www.ofallon.org Page 2 of 4  MEETING MINUTES O’FALLON FIRE PENSION BOARD Apr 23, 2026 O’FALLON POLICE DEPARTMENT 285 N. SEVEN HILLS ROAD, O’FALLON, IL 62269 Call to Order: 2:15pm Roll Call: Dave Hopkins Present Kip Adkins Not Present Brad White Present Brent Saunders Not Present Doug Barron Present Others Present: Dennis Orsey Public Comment: None Approval of Minutes: - Motion by Barron, seconded by White to approve the 22 Jan 2026 meeting minutes. Vote held (3 Aye, 0 Nay); motion carried. Correspondence: Board discussed email received from Illinois Municipal League containing new weblink for trustee training portal. Bills: - Warrant 26-08; Services rendered by Attorney Orsey - $618.75. Motion made by White, seconded by Barron to pay the warrant. Roll Call Vote (Aye 3, Nay 0); motion carried. - Warrant 26-09; May 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-10 Jun 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-11; Jul 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-12; May 2026 alternate payee benefit payment for Tracey Saunders - $668.35 - Warrant 26-13; Jun 2026 alternate payee benefit payment for Tracey Saunders - $668.35 - Warrant 26-14; Jul 2026 alternate payee benefit payment for Tracey Saunders - $668.35 Motion made by White, seconded by Barron to pay the benefit payments based on the requirements identified in the QILDRO. Roll Call Vote (Aye 3, Nay 0); motion carried. Treasurer Report: - The Board reviewed the local cash balance. As of Apr 2026, the Bank of O’Fallon cash balance was $78,915.17. Motion made by White, seconded by Barron to accept the Treasurer Report. Roll Call Vote held (Aye 3, Nay 0); motion carried. - The Board again discussed maintaining a balance of $20,000 in the Bank of O’Fallon account and allowing the City of O’Fallon Finance Department to routinely transfer cash in excess of this amount to the Illinois Firefighters Pension Fund account to increase overall investment potential. White will talk to City Finance Department to determine their timing and process for transferring funds. Page 3 of 4 Investment Report: - The Board reviewed the March 2026 Statement of Results provided by the FPIF. 2025 YTD, the fund’s Net Asset Value was $1,556,816.22. The 2026 YTD Return on Total Assets is -1.04%. Old Business: - Board discussed the need to reappoint Kip Adkins to the Board as his term expires on 5/12/2026. White confirmed the appointment will be made at the 5 May 2026 City Council meeting. - Board discussed the need for all members to file their Economic Interest Statements NLT 1 May 2026. - Board confirmed filing of Illinois Finance Entity form was completed before the 28 Feb 2026 deadline. - Board reviewed and compared the Actuarial Valuation Report to the City tax levy to ensure the pension fund was properly funded. The Actuarial Valuation report identified a statutory minimum required contribution of $52,735. The City tax levy for the fire pension is set for $30,000. The Board noted the discrepancy; however, the Actuarial Valuation report identified the pension being funded at 250.4%. No Board action required. New Business: - Board discussed the need to complete 2026 trustee training requirements before deadline in Oct. Application for Membership: None Application for Benefits: None. Next Meeting Date: Tuesday, 23 Jul 2026 @ 2:00PM, O’Fallon Public Safety Building Adjournment: Motion made by Barron, seconded by White to adjourn. Vote held (Aye 3, Nay 0); motion carried. Meeting adjourned at 2:41pm. Signed: Brad White Secretary Page 4 of 4