Firemen’s Pension Fund Board of Trustees

JANUARY 23, 2023 Peoria, Illinois AGENDA 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 of the following members: Higgins, Smith, Tarr, Tomblin, President Troglio – 5. INVOCATION A moment of silence will be held in remembrance of those Firefighters who have served our community. MINUTES Recommendation to Approve the Minutes of the Regular Board Meeting held on November 28, 2022, as printed. REGULAR BUSINESS ITEM NO. 1 MONTHLY PORTFOLIO PERFORMANCE REVIEW from MARQUETTE ASSOCIATES (FPIF) dated October 31, 2022; November 30, 2022; Executive Summary dated September 30, 2022; and the STATEMENT of RESULTS from NORTHERN TRUST dated November 2022, with Request to Receive and File. ITEM NO. 2 PRESENTATION by MARQUETTE and/or NORTHERN TRUST for a Year-End Review of the Fire Pension Portfolio, with Request to Defer to the February Fire Pension Board Meeting. ITEM NO. 3 Discussion Regarding PENSION BENEFIT INCREASES for 2023, with a Request to APPROVE. ITEM NO. 4 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of NOVEMBER 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 October 21, 2022 – November 5, 2022 November 15, 2022 $ 64,271.22 November 6, 2022 – November 20, 2022 November 30, 2022 $ 66,480.69 TOTAL $130,751.91  PAGE 2 ITEM NO. 5 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of DECEMBER 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 November 21, 2022 – December 5, 2022 December 15, 2022 $ 66,160.67 December 6, 2022 – December 20, 2022 December 30, 2022 $ 67,133.97 TOTAL $133,294.67 ITEM NO. 6 Request to RATIFY & APPROVE the following BILLS: Pensions for December 2022 (dated December 31, 2022) .........................$1,522,424.82 Lauterbach & Amen PC – Prof Svcs -October 2022 …………………… ...... 3,550.00 Trina D. Bonds - 4th qtr Admin Svcs (Oct -Dec) ………. ............................. 1,350.00 Lauterbach & Amen PC – Municipal Comp Rep, Yr Ended 12/31/21……. .. 600.00 SUB-TOTAL FOR DECEMBER………………………………………………. .$1,527,924.82 APPROVE GRAND TOTAL FOR DECEMBER.…………………………………… $1,527,924.82 Request to APPROVE the following BILLS: Pensions for January 2023 (dated January 31, 2023).................................$1,556,156.17 Lauterbach & Amen PC – Prof Svcs -November 2022 …………………… .. 3,550.00 Reimer Dobrovolny & Labardi, PC – Legal Svcs......................................... 892.49 SUB-TOTAL FOR JANUARY………………………………………………. .....$1,560,598.66 APPROVE GRAND TOTAL FOR JANUARY...……………………………………… $1,560,598.66 ITEM NO. 7 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of BEVERLY J. FAST Due to Her Death on NOVEMBER 1, 2022, and to Make Payments to the Beverly J. Fast Estate, in the Amount of $77.64 for the 1 day of November 2022. Recommendation: To RECEIVE and FILE the Death Certificate and to APPROVE the Payment of $77.64. ITEM NO. 8 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of DONALD A. LARGENT Due to His Death on December 12, 2022, and to Make Payments to the Donald A. Largent Estate, in the Amount of $1,935.12, for 12 days of December 2022. Recommendation: To RECEIVE and FILE the Death Certificate, and to APPROVE the Payment of $1,935.12 for the 12 days of December. ITEM NO. 9 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of PATRICIA A. SIMMONS Due to Her Death on DECEMBER 16, 2022, and to Make Payments to the Patricia A. Simmons Estate, in the Amount of $1,750.72, for the 16 days of December 2022. Recommendation: To RECEIVE and FILE the Death Certificate Upon Receipt and to APPROVE the Payment of $1,750.72.  PAGE 3 ITEM NO. 10 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN ANDREW PERRY to become effective January 6, 2023, (last day paid by the City January 5, 2023) based on 72.71% of his Annual Salary of $124,239.55 (which includes longevity). Pension to be paid for the remaining 26 days of January, in the Amount of $6,313.71 and $7,527.88 for every month thereafter with recommendation for the Board to APPROVE. ITEM NO. 11 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN JOSEPH TROGLIO to become effective January 12, 2023, (last day paid by the City January 11, 2023) based on 66.46% of his Annual Salary of $119,418.06 (which includes longevity). Pension to be paid for the remaining 20 days of January, in the Amount of $4,266.84 and $6,613.60 for every month thereafter with recommendation for the Board to APPROVE. ITEM NO. 12 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for JOSHUA CAMP, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 13 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for MARCO RUAN-ALFARO, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 14 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for ALEXANDER FAULKNER, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 15 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for PARKER BARTOS, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 16 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for RONALD MORIARITY, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 17 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for CARL ROCHER, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 18 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for JAKE KARLICEK, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 19 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for CARSON CHEESMAN, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 20 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for ANTHONY CHAIDEZ, with Recommendation to Approve. (Under Tier II Benefits)  PAGE 4 ITEM NO. 21 Review of APPLICATION FOR MEMBERSHIP hired on November 4, 2022, to the Firemen’s Pension Fund for DARREN CUMMINGS, with Recommendation to Approve. (Under Tier II Benefits) ITEM NO. 22 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of OCTOBER 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. ITEM NO. 23 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of NOVEMBER 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. ITEM NO. 24 REVIEW/POTENTIAL APPROVAL of COLLATERALIZATION AGREEMENT FOR HARRIS ACCOUNT, with a Request to RECEIVE and FILE or Take Other Action Necessary. ITEM NO. 25 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. ITEM NO. 26 DISCUSSION REGARDING Pension Benefits Bulletin: Creditable Service Transfer Opportunity ARTICLE 4 Downstate Fire to SERS (Article 14) by LAUTERBACH AND AMEN, LLP, with a Request to RECEIVE and FILE or Take Other Action Necessary. ITEM NO. 27 DISCUSSION Regarding the 2023 IPFA SPRING PENSION SEMINAR, to be Held May 5, 2023, in Addison, Illinois. RECOMMENDATION: To Allow Board Members to Attend Personally or Virtually, if they wish, and to Receive a Per Diem, and Reimbursement for Hotel and Travel Expenses OR to Receive and File. UNFINISHED BUSINESS NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ITEM NO. 28 REQUEST FOR A MOTION TO GO INTO EXECUTIVE SESSION TO DISCUSS 2(C)(21) FOR A DISCUSSION OF MINUTES OF MEETINGS LAWFULLY CLOSED UNDER THIS ACT HELD WHETHER FOR PURPOSES OF APPROVAL BY THE BODY OF THE MINUTES OR SEMI-ANNUAL REVIEW OF THE MINUTES AS MANDATED BY SECTION 2.06 AND ANY OTHER EXCEPTIONS. ADJOURNMENT