Firemen’s Pension Fund Board of Trustees

October 24, 2022 Peoria, Illinois PROCEEDINGS OF A REGULAR MEETING OF THE BOARD OF TRUSTEES OF THE FIREMEN'S PENSION FUND OF PEORIA, ILLINOIS A Regular Meeting of the Board of Trustees of the Firemen 's Pension Fund of Peoria, Illinois, will be held this date at City Hall, Room 404, Peoria, Illinois at 9:30 A.M. with proper notice having been given , for the purpose of conducting regular Firemen's Pension Fund business. ROLL CALL Roll Call showed the following Board members present: Higgins, Smith, Tarr, Tomblin , President Troglio - 5. Others present: Deputy City Treasurer Kayla Casey and Chief Deputy City Clerk Trina Bonds. INVOCATION A moment of silence was held in remembrance of those Firefighters who have served our community. MINUTES Recommendation to Approve the Minutes of the Regular Board Meeting held on September 26, 2022, as printed. Trustee Tomblin moved to approve the minutes of the Regular Board Meeting held on September 26, 2022; seconded by President Troglio. Approved by viva voce vote. REGULAR BUSINESS ITEM NO. 1 MONTHLY PORTFOLIO PERFORMANCE REVIEW from MARQUETTE ASSOCIATES (FPIF) dated AUGUST 31, 2022, and the STATEMENT of RES ULTS from NORTHERN TRUST dated SEPTEMBER 2022, with Request to Receive and File. Trustee Tarr reported on the Marquette Associates Monthly Performance Review noting a year- to-date return of -14.4, with a benchmark of -14 .3. She remarked the Statement of Results from Northern Trust as of September 2022 showed a beg inning balance of $144.8 million and an ending balance of $132.4 million, with a net return of a -7 .58% . After brief comments , Trustee Tarr moved to receive and file the Monthly Portfolio Performance Review from Marquette Associates and Northern Trust; seconded by President Troglio. Approved by viva voce vote . PROCEEDINGS - FIREMEN'S PENSION MEETING OCTOBER 24, 2022 PAGE2 ITEM NO. 2 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of SEPTEMBER 2022, from the active members of the Peoria Fire Department and which checks were turned in to the City Treasurer's Office by Director of Finance/Comptroller, with Recommendation to Concur and Receive and File. Payroll Period When Deducted Amount August 21 , 2022 - September 5, 2022 September 15, 2022 $64,579.60 September 6, 2022 - October 1, 2022 September 30, 2022 $64,409.17 TOTAL $128 ,988.77 Trustee Tomblin moved to concur and place on file the Fire Marshal's Report for September 2022; seconded by Trustee Smith. Approved by viva voce vote. ITEM NO. 3 Request to APPROVE the following BILLS: Pensions for October 2022 (dated October 31, 2022) ......................................... $1,517,939.70 Sikich, LLP - Annual Audit ...... ... ............ .... .... ........... ..... .. ................ .... ...... 17,500.00 Lauterbach & Amen PC - Prof Svcs IDOi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. ... .. .... 4,585.00 Lauterbach & Amen PC - Prof Svcs July 2022 ... ... ... .. . .. . ... ... ... ... ... ... .... 3,550.00 Reimer Dobrovolny & Labardi PC - Legal Svcs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1, 124.62 SUB-TOTAL FOR OCTOBER ... .... .. ... ......... ...... .... .. ... .... ........ .. . .. ...... $1 ,544,699.32 APPROVE GRAND TOTAL FOR OCTOBER. .. ......................... ....... ..... . $1,544,699.32 President Trogl io moved to approve the bills for October 2022, in the amount of $1 ,544 ,699.32 ; seconded by Trustee Smith. Approved by roll call vote . Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 4 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of GYLA J. MCINTYRE Due to Her Death on JULY 10, 2022, and to Make Payments to the Gyla J. McIntyre Estate, in the Amount of $923.556, for 20 days of July 2022. Recommendation: To RECEIVE and FILE the Death Certificate Upon Receipt, and to APPROVE the Payment of $923.556 for the 20 days of July. Trustee Smith moved to approve the removal from the pension rolls of Gyla McIntyre due to her death on July 10, 2022, and to make payment to the Gyla J. McIntyre Estate, in the amount of $923.556 for the 1O days of July and to receive and file the Death Certificate Upon Receipt; seconded by Trustee Higgins. Approved by roll call vote . Yeas: Higgins, Smith , Tarr, Tomblin, President Troglio - 5; Nays: None. PROCEEDINGS - FIREMEN 'S PENSION MEETING OCTOBER 24, 2022 PAGE3 ITEM NO. 5 REQUEST to ACCEPT the APPLICATION for a WIDOW'S PENSION BENEFIT for SANDRA E. VOSS, She being the Widow of RONALD R. VOSS, with Benefits Commencing September 17, 2022, with her Benefit Based on 100% of his monthly benefit of $7,205.29 per month; therefore Benefits for 14 days of September to be Paid, in the amount of $3,362.46 and $7,205.29 for each month thereafter. Recommendation: APPROVE the Payment $3,362.46 for September and $7,205.29 for each month thereafter. Trustee Tomblin moved to accept the Application for a Widow's Pension Benefit for Sandra E. Voss, she being the w idow of Ronald R. Voss, with benefits commencing September 17, 2022, with her benefit to be based on 100% of his monthly pension benefit of $7,205.29 per month; therefore benefits for 14 days of August to be paid, in the amount of $3,362.46 and $7,205.29 for each month thereafter; seconded by Trustee Higgins. Approved by roll call vote. Yeas : Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 6 REQUEST to Approve the GENERAL WAGE INCREASE of 2.00 % of Retired Firefighter, GREGORY L. PARKER, beginning January 1, 2022, in the Amount of $696.89, due to the Settlement of the Union Contract. Trustee Higgins moved to approve the General Wage Increase of 2.00% of Retired Firefighter, Gregory L. Parker, beginning January 1, 2022, in the amount of $696.89, due to the Settlement of the Union Contract; seconded by President Troglio. Approved by roll call vote. Yeas: Higgins, Smith , Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 7 REQUEST to Approve the GENERAL WAGE INCREASE of 2.00 % of Retired Firefighter, CHANCE W. BARLOW, beginning January 1, 2022, in the Amount of $312.93, due to the Settlement of the Union Contract. Trustee Higgins moved to approve the General Wage Increase of 2.00% of Retired Firefighter, Chance W. Barlow, beginning January 1, 2022, in the amount of $312.93, due to the Settlement of the Union Contract; seconded by President Troglio. Approved by roll call vote. Yeas: Higgins, Smith , Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 8 REQUEST to Approve the GENERAL WAGE INCREASE of 2.00 % of Retired Firefighter, MICHAEL T. LIERLE, beginning January 1, 2022, in the Amount of $911.47, due to the Settlement of the Union Contract. PROCEEDINGS - FIREMEN'S PENSION MEETING OCTOBER 24, 2022 PAGE4 Trustee Higgins moved to approve the General Wage Increase of 2.00% of Retired Firefighter, Michael T. Lierle, beginning January 1, 2022, in the amount of $911.47, due to the Settlement of the Union Contract; seconded by President Treglia. Approved by roll call vote. Yeas : Higgins, Smith, Tarr, Tomblin, President Treglia - 5; Nays: None. ITEM NO. 9 REQUEST to Approve the GENERAL WAGE INCREASE of 2.00 % of Retired Firefighter, TODD R. DOSEMAGEN, beginning January 1, 2022, in the Amount of $1,007.91, due to the Settlement of the Union Contract. Trustee Higgins moved to approve the General Wage Increase of 2.00% of Retired Firefighter, Todd R. Dosemagen, beginning January 1, 2022, in the amount of $1 ,007.91 , due to the Settlement of the Union Contract; seconded by President Troglio. Approved by roll call vote . Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 10 APPLICATION for REGULAR RETIREMENT PENSION for BATTALION CHIEF MICHAEL R. HUGHES to become effective October 26, 2022, (last day paid by the City October 25, 2022) based on 66.0417% of his Annual Salary of $140,971.72 (which includes longevity). Pension to be paid for the remaining 6 days of October, in the Amount of $1,501.62 and $7,758.34 for every month thereafter with recommendation for the Board to APPROVE. Trustee Higgins moved to approve the Application for Regular Retirement Pension for Battalion Chief Michael R. Hughes to become effective October 26, 2022, (last day paid by the City October 25, 2022) based on 66.0417% of his annual salary of $140,971.72 with pension to be paid for the remaining 6 days of October, in the amount of $1 ,501 .62 and $7 ,758.34 for every month thereafter; seconded by Trustee Smith. Approved by roll call vote . Yeas : Higgins, Smith , Tarr, Tomblin, President Treglia - 5; Nays: None. ITEM NO. 11 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN MATTHEW L. TYLER to become effective November 2, 2022, (last day paid by the City October 8, 2022) based on 65.8333% of his Annual Salary of $113,173.97 (which includes longevity). Pension to be paid for the remaining 28 days of November, in the Amount of $5,608.12 and $6,208.85 for every month thereafter with recommendation for the Board to APPROVE. PROCEEDINGS - FIREMEN 'S PENSION MEETING OCTOBER 24, 2022 PAGES President Troglio moved to approve the Application for Regular Retirement Pension for Fire Captain Matthew L. Tyler to become effective November 2, 2022, (last day paid by the City October 8, 2022) based on 65.8333% of his annual salary of $113,173.97 with pension to be paid for the remaining 28 days of November, in the amount of $5,608.12 and $6 ,208.85 for every month thereafter; seconded by Trustee Smith. Approved by roll call vote. Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 12 REQUEST to RECEIVE and FILE the MUNICIPAL COMPLIANCE REPORT for the FIREMEN'S PENSION FUND OF PEORIA for the Year Ended DECEMBER 31, 2021, Prepared by LAUTERBACH & AMEN, LLP. Trustee Tarr noted discrepancies in the reporting of the Municipal Compliance Report. She said she wanted to follow-up with Lauterbach & Amen regarding the reporting . After brief comments, Trustee Tarr moved to DEFER the Request to Receive and File the Municipal Compliance Report for the Firemen's Pension Fund of Peoria to the Regularly Scheduled November 28, 2022 Fire Pension Board Meeting ; seconded by Trustee Smith. Approved by roll call vote . Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 13 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of AUGUST 2022, which Includes the STATEMENT OF PLAN NET ASSETS, STATEMENT OF CHANGES IN PLAN NET ASSETS, SUMMARY of CASH AND INVESTMENTS, BALANCE SHEET, REVENUES and REVENUE REPORT, EXPENSES and EXPENSE REPORT, PAYROLL JOURNAL, and VENDOR CHECKS REPORT, with Recommendation to APPROVE. Trustee Tarr moved to DEFER the monthly financial reports from Lauterbach & Amen , LLP for the month of August 2022, which includes the Statement of Plan Net Assets, Statement of Changes in Plan Net Assets , Summary of Cash and Investments, Balance Sheet, Revenues and Revenue Report, Expenses and Expense Report, Payroll Journal , and Vendor Checks Report; seconded by Trustee Tomblin . Approved by roll call vote. Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. ITEM NO. 14 REQUEST for APPROVAL of a RESOLUTION Authorizing City Treasurer Stephen Morris the POWER TO INVEST, and Authorize City Treasurer Morris to Maintain a Minimum of $10,000.00 in the HARRIS BANK ACCOUNT. PROCEEDINGS - FIREMEN'S PENSION MEETING OCTOBER 24, 2022 PAGES Trustee Tomblin moved to approve a Resolution authorizing City Treasurer Stephen Morris the power to invest and authorize City Treasurer Morris to maintain a minimum of $10,000.00 in the Harris Bank Account; seconded by Trustee Smith. Approved by roll call vote . Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. UNFINISHED BUSINESS ENGINEER GREGORY L. PARKER DISABILITY HEARING UPDATE Trustee Tarr reported a Public Hearing to discuss the Line of Duty Disability application for Gregory L. Parker was scheduled for November 18, 2022 at 10:00 a.m., via Zoom . ANNUAL AFFIDAVIT OF CONTINUED ELIGIBILITY UPDATE Chief Deputy Bonds gave an update was given regarding outstanding Annual Affidavit of Continued Eligibility. It was determined there was only one affidavit still outstanding for Retired Firefighter Robert Parkmon, Jr. President Troglio said he would try to reach out to Retired Firefighter Parkmon as soon as possible before taking any action. NEW BUSINESS Deputy City Treasurer Casey reported the balance at Morton Community Bank was $11 ,669,893.08, with anticipation of receiving almost $300,000 from the City of Peoria's contribution. In response to a question from Deputy Treasurer Casey, relating to any necessary adjustments, the Board decided against making any changes to the account at this time . EXECUTIVE SESSION It was determined that an Executive Session was not needed at this time. CITIZENS' OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES It was determined that there were no citizens to address the Board of Trustees. ADJOURNMENT Trustee Tomblin moved to adjourn the Regular Firemen's Pension Board Meeting; seconded by Trustee Smith. Approved by roll call vote. Yeas: Higgins, Smith, Tarr, Tomblin , President Troglio - 5; Nays: None. PROCEEDINGS - FIREMEN'S PENSION MEETING OCTOBER 24, 2022 PAGE7 The Regular Firemen's Pension Board meeting adjourned at 10:09 AM. r RMC, CMC, City Clerk Trustee an Board Secretary, Firemen's Pension Fund of Peoria, Illinois /tb