Firemen’s Pension Fund Board of Trustees

November 27, 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 to conduct 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 October 30, 2023, as printed. REGULAR BUSINESS 1. IFPIF/Marquette & Associates Monthly Financial Report (October’s monthly report not yet posted). (Conference call with Steve Zahn, Chief Operating Officer of IFPIF) 2. Review of Northern Trust Portfolio Activity Report from October 1, 2023 – October 31, 2023, and Peoria Firefighter’s Pension Fund Statement of Results, with Request to Receive and File. 3. Review of Cash Reserves and Cash Flow Projections with a Request to Receive and File or Take Other Action Deemed Necessary. (Cash Analysis Report - Lauterbach & Amen Dated September 30, 2023) 4. Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, Made by Payroll Deductions for October 2023, from the Active Members of the Peoria Fire Department and which Checks were Turned in to the City Treasurer’s Office by the Director of Finance/Comptroller, with Request to Concur and Receive and File. Payroll Period When Deducted Amount September 21, 2023 – October 5, 2023 October 16, 2023 $ 70,338.37 October 6, 2023 – October 20, 2023 October 31, 2023 $ 70,141.87 Total $140,480.24  PAGE 2 5. Request to Ratify and Approve the following Bills: Pensions for November 2023 (dated November 30, 2023) .........................$1,586,100.68 Alliant Insurance Services – Ullico Renewal 11/15/23 to 11/15/24………… 10,791.00 Lauterbach & Amen PC – Prof Svcs – September ‘23 …………………… ... 3,620.00 Sikich – 2022 Auditing Services ................................................................. *3,000.00 Brandon Pinkston – ’23 IPPFA Travel Per Diem ........................................ 724.72 Staples – Matthew Smith Signature Stamp ................................................ 25.29 *Bill was already paid earlier in November. SUB-TOTAL FOR NOVEMBER……………………………………………… ..$1,604,261.69 APPROVE GRAND TOTAL FOR NOVEMBER….…..……………………………….$1,604,261.69 6. Request to Remove from the Pension Rolls of Eldora Kay Olson Due to Her Death on November 9, 2023, and to Make Payment to the Eldora Kay Olson Estate, in the Amount of $841.23, for 9 Days of November 2023, with Request to Approve and to Receive and File the Death Certificate and Approve the Payment of $841.23 for the 9 Days of November. 7. Application for Regular Retirement Pension for Battalion Chief Scott M. Strum Effective January 7, 2024 (Last Day Paid by the City January 6, 2024) Based on 66.25% of His Annual Salary of $142,473.07 (Includes Longevity) with Request to Approve a Pension to be Paid for the Remaining 25 Days of January, in the Amount of $6,343.31, and $7,865.70 for Every Month Thereafter. 8. Application for Membership to the Firemen’s Pension Fund for Brock Baer, Hired August 25, 2023, with Request to Approve under Tier II Benefits. 9. Application for Membership to the Firemen’s Pension Fund for Daniel Barbee, Hired August 25, 2023, with Request to Approve under Tier II Benefits. 10. Application for Membership to the Firefighter’s Pension Fund for Hunter Bevirt, Hired August 25, 2023, with Request to Approve under Tier II Benefits. 11. Application for Membership to the Firefighter’s Pension Fund for Drew Ford, Hired August 25, 2023, with Request to Approve under Tier II Benefits. 12. Monthly Financial Report from Lauterbach & Amen for October 2023, which includes the Statement of Plan Net Assets, Summary of Cash and Investments, Cash Analysis Report and Summary, Revenue Report, Pension Benefits and Expenses, Expense Report, Contribution Report, Payroll Journal, Quarterly Disbursement Report, and Quarterly Deduction Report, with Request to Approve. 13. Resolution Authorizing City Treasurer Stephen Morris to Maintain a Minimum of $10,000.00 in the Harris Bank Account, with Request to Approve. 14. Quarterly Newsletter – Legal and Legislative Update, October 2023 – from Reimer Dobrovolny & Labardi, PC, with Request to Receive and File. 15. Discussion Regarding Rescheduling or Cancelling the December Regular Board Meeting Due to the Holidays with a Request to Take Action Deemed Appropriate.  PAGE 3 UNFINISHED BUSINESS 16. Letter of Understanding from Lauterbach & Amen regarding Services for Years Ended December 31, 2024, 2025, and 2026, with Request to Approve. 17. Statement of Work from Sikich, LLP for the Audit for the Year Ended December 31, 2023, with Request to Approve. NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ADJOURNMENT