Firemen’s Pension Fund Board of Trustees

AUGUST 28, 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, Phillips, Pinkston, Tarr, President Smith – 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 July 31, 2023, as printed. REGULAR BUSINESS ITEM NO. 1 PRESENTATION by FOSTER & FOSTER Regarding 2023 ACTUARIAL VALUATION, with Request to Receive and File. ITEM NO. 2 REVIEW of FINANCIAL STATEMENTS & INDEPENDENT AUDITOR’S REPORT for Year-Ended December 31, 2022, with Request to APPROVE. ITEM NO. 3 DIRECT REIMER, DOBROVOLNY & LABARDI PC to Send Correspondence to the City Regarding the Board’s Recommended Funding Level, in the Amount of $16,680,332.00, with Request to APPROVE. ITEM NO. 4 MONTHLY PORTFOLIO PERFORMANCE REVIEW from MARQUETTE ASSOCIATES (FPIF) dated June 30, 2023; and the MONTHLY STATEMENT of RESULTS from NORTHERN TRUST for June & July, 2023, with Request to Receive and File. ITEM NO. 5 Request to RATIFY & APPROVE the following BILLS: Pensions for August 2023 (dated August 31, 2023) ....................................$1,577,091.54 Foster & Foster – 1/1/23 Pension Valuation………………… ....................... 9,691.00 Lauterbach & Amen PC – Prof Svcs – May ‘23 …………………… ............. 3,620.00 IPPFA – 2023 MidAmerican Conference (Tarr, Smith, Phillips, Higgins-online) ......... 1,625.00 Reimer, Dobrovolny & Labardi – Legal Svcs .............................................. *133.95 *Bill was already paid in July 2023 SUB-TOTAL FOR AUGUST………………………………………………… ....$1,592,161.49 APPROVE GRAND TOTAL FOR AUGUST….…..………………………………….. $1,592,161.49  PAGE 2 ITEM NO. 6 DISCUSSION Regarding the IPFA 2016 SPRING SEMINAR, to be Held May 6, 2016, in Addison, Illinois. RECOMMENDATION: Motion to allow Board Members to attend, if they wish, and to receive a per diem, and reimbursement for hotel and travel expenses OR to receive and file. ITEM NO. 7 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of JUNE 2023, 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. TEM NO. 8 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of JULY 2023, 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. 9 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. UNFINISHED BUSINESS ITEM NO. 10 CONTINUED DISCUSSION Regarding a MOTION to ADOPT and PUBLISH the DECISION and ORDER for FIRE ENGINEER GREGORY L. PARKER – LINE OF DUTY DISABILITY, with Recommendation to APPROVE. NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ADJOURNMENT