Firemen’s Pension Fund Board of Trustees

JANUARY 29, 2024 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 November 27, 2023, as printed. REGULAR BUSINESS 1. IFPIF/Marquette & Associates Monthly Financial Reports for October 31, 2023, November 30, 2023 and December 31, 2023, with a Request to Receive and File. 2. Review of Northern Trust Portfolio Activity Report from December 1, 2023 – December 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. 4. Discussion Regarding PENSION BENEFIT INCREASES for 2024, with a Request to APPROVE. 5. Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of NOVEMBER, 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 October 21, 2023 – November 5, 2023 November 15, 2023 $ 70,055.04 November 6, 2023 – November 20, 2023 November 30, 2023 $ 70,742.46 TOTAL $140,797.50  PAGE 2 6. Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of DECEMBER, 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 November 21, 2023 – December 5, 2023 December 15, 2023 $ 70,532.93 December 6, 2023 – December 20, 2023 December 30, 2023 $ 70,481.21 TOTAL $141,014.14 7. Request to RATIFY & APPROVE the following BILLS for December and January: Pensions for December 2023 (dated December 31, 2023) .........................$1,583,428.13 Lauterbach & Amen PC – Prof Svcs – October ‘23 …………………… ....... 3,620.00 Trina D. Bonds – 4th Quarter Admin Svcs ................................................... 1,350.00 Lauterbach & Amen PC – Municipal Compliance Report 12/31/22………... 600.00 Reimer Dobrovolny & Labardi – Legal Services.......................................... 231.90 SUB-TOTAL FOR DECEMBER……………………………………………… ..$1,589,230.03 APPROVE GRAND TOTAL FOR DECEMBER….…..……………………………….$1,589,230.03 Pensions for January 2024 (dated January 31, 2024).................................$1,623,442.64 Lauterbach & Amen PC – Prof Svcs – November ‘23 …………………… .... 3,620.00 SUB-TOTAL FOR JANUARY……………………………………………… ......$1,627,062.64 APPROVE GRAND TOTAL FOR JANUARY….……………………………………...$1,627,062.64 8. Request to Remove from the Pension Rolls of Shirley Ann Baxter Due to Her Death on November 30, 2023, and to Make Payment to the Shirley Ann Baxter Estate, in the Amount of $2,672.55, for 30 Days of November 2023, with Request to Approve and to Receive and File the Death Certificate and Approve the Payment of $2,672.55 for the 30 Days of November. 9. Request to Recognize the Purchase of Service for Joshua Hunt from October 21, 2020 through November 20, 2020, in the amount of $216.39, is Paid in Full and that the Period of Service is now Creditable toward the Member’s Pension. 10. Request to Recognize the Purchase of Service for Brandon Pinkston from March 18, 2020 through March 20, 2020, in the amount of $56.82, is Paid in Full and that the Period of Service is now Creditable toward the Member’s Pension. 11. Request to Recognize the Purchase of Service for Johnathan Weber from October 21, 2020 through November 5, 2020, in the amount of 179.02, is Paid in Full and that the Period of Service is now Creditable toward the Member’s Pension. 12. Monthly Financial Report from Lauterbach & Amen for November 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.  PAGE 3 13. Monthly Financial Report from Lauterbach & Amen for December 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. 14. Resolution Authorizing City Treasurer Stephen Morris to Maintain a Minimum of $10,000.00 in the Harris Bank Account, with Request to Approve. 15. Discussion Regarding the 2024 IPPFA Online 8-Hour Seminar, with a Recommendation to Allow Board Members to Attend Virtually, if they wish OR to Receive and File. UNFINISHED BUSINESS 16. Continued 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. NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ADJOURNMENT