Police Pension Board

MINUTES OF A REGULAR MEETING OF THE PROSPECT HEIGHTS POLICE PENSION FUND BOARD OF TRUSTEES JANUARY 20, 2026 A regular meeting of the Prospect Heights Police Pension Fund Board of Trustees was held on Tuesday, January 20, 2026 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 Sigsworth called the meeting to order at 8:55 a.m. ROLL CALL: PRESENT: Trustees Bradley Sigsworth, Tom Huitink and William Kearns ABSENT: Trustees Kevin Lange and Scott Minniear ALSO PRESENT: Attorney Brian LaBardi, Reimer Dobrovolny & LaBardi PC; Cristina Martinez, Lauterbach &Amen (L&A) APPROVAL OF REMOTE ATTENDANCE AND FULL PARTICIPATION BY CERTAIN TRUSTEES (IF ANY): There was no remote attendance. PUBLIC COMMENT: There was no public comment. APPROVAL OF MEETING MINUTES: October 14, 2025 Regular Meeting: The Board reviewed the October 14, 2025 regular meeting minutes and noted the meeting minutes will be approved at the next regular meeting. December 4, 2025 Special Meeting: The Board reviewed the December 4, 2025 special meeting minutes. A motion was made by Trustee Huitink and seconded by Trustee Sigsworth to approve the December 4, 2025 special meeting minutes as written. Motion carried unanimously by voice vote. Semi-Annual Review of Closed Session Meeting Minutes: There were no closed session meeting minutes for review. ACCOUNTANT'S REPORT - LAUTERBACH & AMEN: Monthly Financial Report and Presentation and Approval of Bills: The Board reviewed the Monthly Financial Report for the seven-month period ending November 30, 2025 prepared by L&A. As of November 30, 2025, the net position held in trust for pension benefits is $30,271,863.79 for a change in position of $3,348,867.84. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal, Quarterly Deduction Report, Quarterly Transfer Report and the Quarterly Disbursement Report for the period September 1, 2025 through November 30, 2025 for total disbursements of $14,512.65. A motion was made by Trustee Sigsworth and seconded by Trustee Huitink to accept the Monthly Financial Report as presented and to approve the disbursements shown on the Quarterly Disbursement Report in the amount of $14,512.65. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear Additional Bills, if any - IPPFA Membership Dues: The Board reviewed the IPPFA invoice #78-2903 in the amount of $825 for 2026 Membership Dues. A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to approve the additional bill as presented. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear Review/Update - Cash Management Policy: The Board discussed the Cash Management Policy and determined no changes are needed at this time. Prospect Heights Police Pension Fund Meeting Minutes - January 20, 2026 Page 2 of3 INVESTMENT REPORT: IPOPIF - VerusAdvisory, Inc: The Board reviewed the IPOPIF Investment Performance Review prepared by Verus Advisory, Inc. for the period ending November 30, 2025. As of November 30, 2025 the one-month total net return was 0.5% and the year-to-date total net return was 16.7% for an ending market value of $14,733,040,609. State Street Statements: The Board reviewed the State Street statement for the period ending December 31, 2025. As of December 31, 2025, the beginning value was $30,082,917.09, the ending value was $30,159,794.79 and the month-to-date net return was 0.85% 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: Statements of Economic Interest: The Board noted that the List of Filers must be submitted to the County by the City by February 1, 2026. Statements of Economic Interest will be sent to all registered filers who will need to respond by the deadline of May 1, 2026. TRUSTEE TRAINING UPDATES: The Board reviewed the Trustee Training Summary and discussed upcoming training opportunities. Trustees 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 registration fees or reimbursable expenses presented for approval. APPLICATIONS FOR MEMBERSHP/WITHDRAWALS FROM FUND: Applications for Membership - Marvin Castellanos and Don Vasquez: The Board reviewed the Applications for Membership submitted by Marvin Castellanos and Don Vasquez. A motion was made by Trustee Sigsworth and seconded by Trustee Huitink to accept Marvin Castellanos effective October 22, 2025 and Don Vasquez effective December 5, 2025 into the Prospect Heights Police Pension Fund as Tier II participants. Motion carried unanimously by voice vote. Contribution Refunds - Dylan Coleman, Ryan Harth, David Mullany and Lee Redlin: The Board reviewed the contribution refund request submitted by Dylan Coleman. A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to approve Dylan Coleman's contribution refund in the amount of $5,046.41 paid directly to himself issued on December 22, 2025. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear The Board also reviewed the contribution refund request submitted by Ryan Harth. A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to approve Ryan Harth's contribution refund in the amount of $6,430.58 paid directly to himself. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear Post-meeting note: Ryan Harth 's contribution refund was issued on February 12, 2026. The Board also reviewed the contribution refund request submitted by David Mullany. A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to approve David Mullany's contribution refund in the amount of $13,107.25 paid directly to himself issued on December 11, 2025. Motion carried by roll call vote. Prospect Heights Police Pension Fund Meeting Minutes - January 20, 2026 Page 3 of3 AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear The Board also reviewed the contribution refund request submitted by Lee Redlin. A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to approve Lee Redlin 's contribution refund in the amount of $24,507.33 paid directly to himself issued on December 22, 2025. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear APPLICATIONS FOR RETIRMENT/DISABILITY BENEFITS: There were no applications for retirement or disability benefits. OLD BUSINESS: There was no old business to discuss. NEW BUSINESS: JDOI Security Administrator Designee: The Board discussed designating an IDOi Security Administrator. Further discussion will be held at the next regular meeting. Approval of Annual Cost of Living Adjustments for Pensioners: The Board reviewed the 2026 Cost of Living Adjustments calculated by L&A. A motion was made by Trustee Huitink and seconded by Trustee Sigsworth to approve the 2026 Cost of Living Adjustments as required by statute and calculated by L&A. Motion carried by roll call vote. AYES: Trustees Sigsworth, Huitink and Kearns NAYS: None ABSENT: Trustees Lange and Minniear Review Trustee Term Expirations and Election Procedures: The Board noted that the active member terms currently held by Trustee Lange and Trustee Sigsworth are expiring May 12, 2026. The Board also noted that the retired member term currently held by Trustee Minniear is expiring May 12, 2026. Trustees Lange, Sigsworth and Minniear wish to remain on the Board if nominated. L&A will conduct an election on behalf of the Pension Fund for both of the active member Trustee positions and the retired member Trustee position. The Board also noted that the appointed Trustee position held by Trustee Huitink is expiring April 30, 2026 and he wishes to remain on the Board. The Board will contact the City and seek reappointment of Trustee Huitink to the Board. CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Sigsworth and seconded by Trustee Kearns to adjourn the meeting at 9:29 a.m. Motion carried unanimously by voice vote. The next re~Jar meeting is scheduled for April 14, 2026 at 9:00 a.m. 71+- Board President or Secretary Name Minutes approved by the Board of Trustees on Minutes prepared by Cristina Martinez, Professional Services Administrator, Lauterbach & Amen