Firemen’s Pension Fund Board of Trustees

APRIL 24, 2024 Peoria, Illinois REVISED AGENDA REGULAR RESCHEDULED MEETING OF THE BOARD OF TRUSTEES OF THE FIREMEN’S PENSION FUND OF PEORIA, ILLINOIS A Regular Rescheduled Meeting of the Board of Trustees of the Firemen’s Pension Fund of Peoria, Illinois, will be held this date at City Hall, Room *400, Peoria, Illinois, at 3:00 P.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 February 26, 2024, as printed. REGULAR BUSINESS 1. IFPIF/Marquette & Associates Executive Summary Dated December 31, 2023, and Monthly Summaries dated January 31, 2024 and February 29, 2024, with a Request to Receive and File. 2. Review of Northern Trust Portfolio Activity Report from February 1, 2024 – February 29, 2024, 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. Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of FEBRUARY, 2024, 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 January 21, 2024 – February 5, 2024 February 15, 2024 $ 71,331.06 February 6, 2024 – February 20, 2024 February 29, 2024 $ 71,395.44 TOTAL $142,726.50  PAGE 2 5. Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of MARCH, 2024, 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 February 21, 2024 – March 5, 2024 March 15, 2024 $ 72,188.16 March 6, 2024 – March 20, 2024 March 28, 2024 $ 72,770.70 TOTAL $144,958.86 6. Request to RATIFY and APPROVE the following BILLS for March and April: Pensions for March 2024 (dated March 26, 2024) ......................................$1,626,471.28 SIKICH LLP – Prof Svcs – Audit of Finl Statements Yr Ended 12/31/23 ..... 9,500.00 Lauterbach & Amen PC – Prof Svcs – January ‘24 …………………… ....... 3,730.00 Lauterbach & Amen PC – Prof Svcs – 2023 1099s …………………… ....... 1,020.00 City of Peoria – Reimbursement FP Notice of Mtg Change ....................... 29.12 SUB-TOTAL FOR MARCH…………………………………………… .............$1,640,750.40 APPROVE & RATIFY GRAND TOTAL FOR MARCH…..…………………………...$1,640,750.40 Request to APPROVE the following BILLS for April: Pensions for April 2024 (dated April 29, 2024)............................................$1,627,367.25 SIKICH LLP – Prof Svcs – 2nd Progress Billing Audit Finl Stmts Yr Ended 12/31/23... 7,000.00 Lauterbach & Amen PC – Prof Svcs – February ‘24 …………………… ...... 3,730.00 Lauterbach & Amen PC – Prof Svcs – Year End Workpapers.…………….. 3,630.00 SUB-TOTAL FOR APRIL………………………………………………….........$1,641,727.25 APPROVE GRAND TOTAL FOR APRIL.….…..…………………………………….. $1,641,727.25 7. Request to Approve the Removal from the Pension Rolls of DAVID W. WHITTEN Due to His Death on FEBRUARY 6, 2024, and to Make Payments to the David W. Whitten Estate, in the Amount of $929.55, for 6 days of February 2024. Recommendation: To Receive and File the Death Certificate, and to Approve the Payment of $929.55 for the 6 days of February. 8. Request to Accept the Application for a Widow’s Pension Benefit for HENRIETTA M. WHITTEN, She being the Widow of DAVID W. WHITTEN, with Benefits Commencing February 7, 2024, with her Benefit Based on 100% of his monthly benefit of $4,492.83 per month; therefore Benefits for 23 days of February to be Paid, in the amount of $3,563.28 and $4,492.83 for each month thereafter. Recommendation: Approve the Payment $3,563.28 for February and $4,492.83 for each month thereafter. 9. Application for Regular Retirement Pension for Fire Captain NICHOLAS ELLENWOOD Effective April 5, 2024 (Last Day Paid by the City April 4, 2024) Based on 65% of His Annual Salary of $118,323.37 (Includes Longevity) with Request to Approve a Pension to be Paid for the Remaining 26 Days of April, in the Amount of $5,554.63, and $6,409.18 for Every Month Thereafter. 10. Request to Approve the Fire Contribution Refund from JOSHUA J. K. CAMP, in the Amount of $6,741.67, to be Paid Directly to JOSHUA J. K. CAMP.  PAGE 3 11. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for CHRISTOPHER T. PRENTISS, with Recommendation to Approve. (Under Tier II Benefits) 12. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for DYLAN B. COOPER, with Recommendation to Approve. (Under Tier II Benefits) 13. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for WILLIAM R. VAN DUSEN, with Recommendation to Approve. (Under Tier II Benefits) 14. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for JOSEPH T. WAGNER, with Recommendation to Approve. (Under Tier II Benefits) 15. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for BRITTANY M. HARRIS, with Recommendation to Approve. (Under Tier II Benefits) 16. Review of APPLICATION FOR MEMBERSHIP hired on April 6, 2024, to the Firemen’s Pension Fund for ERIC R. GILMORE, with Recommendation to Approve. (Under Tier II Benefits) 17. Review of APPLICATION FOR MEMBERSHIP hired on February 26, 2024, to the Firemen’s Pension Fund for CRISTIAN A. ALANIS-MATA, with Recommendation to Approve. (Under Tier II Benefits) 18. Monthly Financial Report from Lauterbach & Amen for February 2024, 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, and Payroll Journal, with Request to Approve. 19. Resolution Authorizing City Treasurer Stephen Morris to Maintain a Minimum of $10,000.00 in the Harris Bank Account, with Request to Approve. 20. Discussion Regarding the 2024 IPFA Spring Pension Seminar in Addison, IL on May 3, 2024, with a Recommendation to Allow Board Members to Attend In-Person if they wish OR to Receive and File. UNFINISHED BUSINESS NEW BUSINESS CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION ADJOURNMENT