Firemen’s Pension Fund Board of Trustees

SEPTEMBER 25, 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 August 28, 2023, as printed. REGULAR BUSINESS ITEM NO. 1 MONTHLY STATEMENT of RESULTS from NORTHERN TRUST dated September 21, 2023, with Request to Receive and File. ITEM NO. 2 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of AUGUST, 2023, 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 July 21, 2023 – Aug 5, 2023 Aug 15, 2023 $ 68,607.02 Aug 6, 2023 – Aug 20, 2023 Aug 31, 2023 $ 68,771.21 TOTAL $137,378.23 ITEM NO. 3 Request to RATIFY & APPROVE the following BILLS: Pensions for September 2023 (dated September 30, 2023) .......................$1,577,494.06 Lauterbach & Amen PC – Prof Svcs – July ‘23 …………………… .............. 3,620.00 Trina D. Bonds – Third Qtr 2023 Admin Svcs ............................................. 1,350.00 Matthew Smith – Travel Voucher – 2023 IPPFA MidAmer Pension Conf.... 1,169.10 Ralph Phillips – Travel Voucher – 2023 IPPFA MidAmer Pension Conf..… 1,169.10 Stefanie Tarr – Travel Voucher – 2023 IPPFA MidAmer Pension Conf…… 884.31 IPPFA – 2024 Membership Dues ............................................................... 795.00 City of Peoria – Fire Pension Misc. Supplies (ODP) ................................... 91.97 Gatehouse Media Illinois Holdings – Public Notice (Mtg Date Change) ..... *20.00 *Bill was already paid in earlier September 2023 SUB-TOTAL FOR AUGUST………………………………………………… ....$1,586,593.54 APPROVE GRAND TOTAL FOR AUGUST….…..………………………………….. $1,586,593.54  PAGE 2 ITEM NO. 4 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of LEO T. DUKE Due to His Death on AUGUST 27, 2023, and to Make Payments to the Leo T. Duke Estate, in the Amount of $3,581.55, for 27 days of August 2023. Recommendation: To RECEIVE and FILE the Death Certificate, and to APPROVE the Payment of $3,581.55 for the 27 days of August. ITEM NO. 5 REQUEST to ACCEPT the APPLICATION for a WIDOW’S PENSION BENEFIT for ANN K. DUKE, She being the Widow of LEO T. DUKE, with Benefits Commencing August 28, 2023, with her Benefit Based on 100% of his monthly benefit of $4,112.26 per month; therefore Benefits for 4 days of August to be Paid, in the amount of $530.60 and $4,112.26 for each month thereafter. Recommendation: APPROVE the Payment $530.60 for August and $4,112.26 for each month thereafter. ITEM NO. 6 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN/HAZMAT COORDINATOR WILLIAM C. SHORT to become effective October 6, 2023, (last day paid by the City October 5, 2023) based on 75.00% of his Annual Salary of $124,239.55 (which includes longevity). Pension to be paid for the remaining 26 days of October, in the Amount of $6,512.56 and $7,764.94 for every month thereafter with recommendation for the Board to APPROVE. ITEM NO. 7 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. 8 REQUEST to APPROVE the ILLINOIS FIDUCIARY INSURANCE POLICY with ULLICO for the Policy Period November 15, 2023, to November 15, 2024 ITEM NO. 9 DISCUSSIONS Regarding BREAKS IN SERVICE for Individual Firefighters, whether to ASSESS INTEREST for the Buy Backs, and if so, at what rate, with Request to RECEIVE and FILE or to TAKE OTHER ACTION DEEMED NECESSARY. ITEM NO. 10 DISCUSSIONS Regarding an REQUEST FOR PROPOSAL (RFP) for AUDITING SERVICES, with Request to RECEIVE and FILE or to TAKE OTHER ACTION DEEMED NECESSARY. ITEM NO. 11 DISCUSSIONS Regarding the Board’s Policy No. 67 – MINIMUM AMOUNT TO BE ALLOCATED IN THE FUND’S CASH ACCOUNT AT A LOCAL BANKING INSTITUTION, with Request to RECEIVE and FILE or to TAKE OTHER ACTION DEEMED NECESSARY. UNFINISHED BUSINESS NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ADJOURNMENT