Police Pension Board

MINUTES OF A REGULAR MEETING OF THE PROSPECT HEIGHTS POLICE PENSION FUND BOARD OF TRUSTEES OCTOBER 14 1 2025 A regular meeting of the Prospect Heights Police Pension Fund Board of Trustees was held on Tuesday, October 14, 2025 at 9:00 a.m. in the City Council Chambers located at 8 North Elmhurst Road, Prospect Heights, Illinois 60070, pursuant to notice. CALL TO ORDER: Trustee Lange called the meeting to order at 9:16 a.m. ROLL CALL: PRESENT: Trustees Kevin Lange, Bradley Sigsworth, Tom Huitink and Scott Minniear ABSENT: Trustee William Keams ALSO PRESENT: Amy Weslow, Crista Birkenheier and Cristina Martinez, Lauterbach & Amen (L&A); Attorney Brian LaBardi, Reimer Dobrovolny & LaBardi PC PUBLIC COMMENT: There was no public comment. APPROVAL OF MEETING MINUTES: July 8, 2025 Regular Meeting: The Board reviewed the July 8, 2025 regular meeting minutes. A motion was made by Trustee Huitink and seconded by Trustee Lange to approve July 8, 2025 regular meeting minutes as written. Motion carried unanimously by voice vote. ACCOUNTANT'S REPORT - LAUTERBACH & AMEN: Monthly Financial Report and Presentation and Approval of Bills: The Board reviewed the Monthly Financial Report for the four-month period ending August 31, 2025 prepared by L&A. As of August 31, 2025, the net position held in trust for pension benefits is $29,151,862.56 for a change in position of $2,228,866.61. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Payroll Joumal, Quarterly Deduction Report, Quarterly Transfer Report and the Quarterly Disbursement Report for the period June 1, 2025 through August 31, 2025 for total disbursements of $294,642.14. A motion was made by Trustee Lange and seconded by Trustee Sigsworth to accept the Monthly Financial Report as presented and to approve the disbursements shown on the Quarterly Disbursement Report in the amount of $294,642.14, as amended to remove the Woodlake Medical Management invoice #00101613 in the amount of $475. Motion carried by roll call vote. AYES: Trustees Lange, Sigsworth, Huitink and Minniear NAYS: None ABSENT: Trustee Keams Additional Bills, if any: There were no additional bills for approval. Repeat Monthly Withdrawal Instructions for 2026: The Board reviewed the Repeat Monthly Withdrawal Instructions for 2026. A motion was made by Trustee Lange and seconded by Trustee Sigsworth to set the 2026 monthly deposits at $165,000 from IPOPIF. Motion carried by roll call vote. AYES: Trustees Lange, Sigsworth, Huitink and Minniear NAYS: None ABSENT: Trustee Keams Review/Update - Cash Management Policy: The Board discussed the balance in the BMO Money Market account. A motion was made by Trustee Lange and seconded by Trustee Minniear to direct L&A to maintain a minimum cash balance of $165,000 in the BMO Money Market account, and to rebalance by transferring all funds in excess of $185,000 to IPOPIF for investment purposes. Motion carried by roll call vote. Prospect Heights Police Pension Fund Meeting Minutes - October 14, 2025 Page 2 of 3 AYES: Trustees Lange, Sigsworth, Huitink and Minniear NAYS: None ABSENT: Trustee Keams INVESTMENT REPORT: IPOPIF - Verus Advisory, Inc: The Board reviewed the IPOPIF Investment Performance Review prepared byVerus Advisory, Inc for the period ending August 31, 2025. As of August 31, 2025 the market value was $14,157 1575,825 and the one-month net return was 2.6%. State Street Statements: The Board reviewed the Monthly Summary for the Fund prepared by the Illinois Police Officers' Pension Investment Fund (IPOPIF). As of September 30, 2025, the Fund's market value was $29,430,164.93 and the month-to-date net return of the Fund was 2.04%. ATTORNEY'S REPORT - REIMER DOBROVOLNY & LABARDI PC: Legal Updates: Attorney LaBardi provided legislative updates pertaining to Article 3 Pension Funds; including recent court cases and decisions, as well as general pension matters. COMMUNICATIONS AND REPORTS: Affidavits of Continued Eligibility: The Board noted that all 2025 Affidavits of Continued Eligibility have been received by L&A. The originals were given to the Board for their recordkeeping. TRUSTEE TRAINING UPDATES: The Board discussed upcoming training opportunities and were reminded to submit any certificates of completion to L&A for recordkeeping. Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training fees or reimbursable expenses presented for approval. APPLICATIONS FOR MEMBERSHIP/WITHDRAWALS FROM FUND: Applications for Membership - Angie Delgado and Jonathan Ngo: The Board reviewed the Application for Membership submitted by Angie Delgado. A motion was made by Trustee Lange and seconded by Trustee Sigsworth to accept Angie Delgado effective October 6, 2025 into the Prospect Heights Police Pension Fund as a Tier II participant. Motion carried unanimously by voice vote. The Board also reviewed the Application for Membership submitted by Jonathan Ngo. A motion was made by Trustee Lange and seconded by Trustee Sigsworth to accept Jonathan Ngo effective September 22, 2025 into the Prospect Heights Police Pension Fund as a Tier II participant. Motion carried unanimously by voice vote. Withdrawals from Fund - Dylann Coleman and David Mullany: The Board noted that Dylann Coleman and David Mullany have separated service from the Prospect Heights Police Department. No action is required by the Board. APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: There were no applications for retirement or disability benefits. OLD BUSINESS: IDOI Annual Statement: The Board noted that the IDOI Annual Statement will be filed with the Illinois Department of Insurance prior to the October 31 1 2025 deadline. No further action is necessary. NEW BUSINESS: Review/Approve - Actuarial Valuation and Tax Levy Request: The Board noted the finalized Actuarial Valuation will be reviewed and approved at a special meeting on a date that has yet to be determined. Prospect Heights Police Pension Fund Meeting Minutes - October 14, 2025 Page 3 of3 Review/Adopt - Municipal Compliance Report: The Board noted the Municipal Compliance Report will be reviewed and adopted at a special meeting on a date that has yet to be determined. Establish 2026 Board Meeting Dates: The Board established the 2026 Board meeting dates as January 20, 2026; April 14, 2026; July 14, 2026; and October 13 1 2026 at 9:00 a.m. in the City Council Chambers located at 8 North Elmhurst Road, Prospect Heights, Illinois 60070. CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Sigsworth and seconded by Trustee Lange to adjourn the meeting at 9:50 a.m. Motion carried unanimously by voice vote. 04/14/2026 Minutes approved by the Board of Trustees on _ __ __ _ __ __ __ Minutes prepared by Cristina Martinez, Professional Services Administrator, Lauterbach & Amen