Fire Pension Board

MINUTES CITY OF DEKALB DeKalb Firefighters Pension Fund April 11, 2019 The Board of Trustees of the DeKalb Firefighters Pension Fund held a Meeting on April 11, 2019 in the Ellwood Conference Room at 200 S. Fourth Street, DeKalb, Illinois. Pat Eriksen, President of the Board called the meeting to order at 8:05 a.m. A. ROLL CALL President Pat Eriksen called the roll and the following members of the DeKalb Firefighters Pension Fund were present: Pat Eriksen, Jeff McMaster, Chris Ziola, Bill Kalal, and Ray Krueger. Members absent at roll call were: none. Also present were: Pension Board Attorney Cary Collins, Investment Manager Craig Larsen, City of DeKalb Assistant City Manager Ray Munch, and Recording Secretary and Staff Liaison Traci Lemay. B. APPROVAL OF THE AGENDA – ADDITIONS / DELETIONS A Motion was made by Pat Eriksen to approve the agenda. Said Motion was seconded by Chris Ziola and unanimously approved by the Board by roll call. C. PUBLIC PARTICIPATION None D. ELECTION RESULTS Certification of Election Results A Motion was made by Chris Ziola to certify the results of the election for the retiree member seat. Bill Kalal won the election. Motion was seconded by Ray Krueger and unanimously approved by the Board. The new board was seated at 8:10 a.m. Election of Officers The floor opened for nominations for officers. A Motion was made by Pat Eriksen to keep officers of the Board the same as previous year. Said Motion was seconded by Ray Krueger and unanimously approved by the Board by roll call. Pat Eriksen remains President. DeKalb Firefighters Pension Fund April 11, 2019 Page 2 of 3 Chris Ziola remains Secretary. E. APPROVAL OF MINUTES A Motion was made by Pat Eriksen to approve the minutes of the January 10, 2019 regular meeting and the February 13, 2019 special meeting. Said Motion was seconded by Bill Kalal and unanimously approved by the Board by roll call. F. OLD BUSINESS Pension Board Investment Manager RFP Pat Eriksen and Chris Ziola reviewed RFPs compiled by Cary Collins for the Pension Board Investment Manager. A Motion was made by Pat Eriksen to retain AHC as the investment manager for the Pension fund and to sign the new AHC Agreement. Said Motion was seconded by Jeff McMaster and unanimously approved by the Board by roll call. Seminars The annual training conference will be May 15-17, 2019 in Rock Island. Trustees attending the entire training conference will receive the required annual 16 hours of continuing education. G. NEW BUSINESS Investment Manager Report Craig Larsen presented the quarterly report to the Board. The pension fund is up by $1 million. Segall, Bryant, and Hamill will present to the Board at the July meeting. Year to date return for the fund is over 7%, which is the largest in the last 10 years. Required Investment Transactions A Motion was made by Pat Eriksen to rebalance the equity portfolio to match equity targets. Said Motion was seconded by Chris Ziola and unanimously approved by the Board by roll call. A Motion was made by Pat Ericks to add Ray Munch as Treasurer of the City of DeKalb as a signor on Pension fund accounts. Said Motion was seconded by Chris Ziola and unanimously approved by the Board by roll call. Financial reports and Transactions A Motion was made by Ray Krueger to take an omnibus vote and accept the following items in Omnibus form: • Financial Reports and Transactions of Investment Managers for the 1st quarter of 2019 • Financial Reports of the Investment Consultant for the 1st quarter of 2019 DeKalb Firefighters Pension Fund April 11, 2019 Page 3 of 3 • Financial Reports and Transactions of the Cash Manager for the 1st quarter of 2019 • Payroll Transactions for the 1st quarter of 2019 • Monthly Budget Reports for the 1st quarter of 2019 • Ratify the trades of the asset manager for the 1st quarter of 2019 Said Motion was seconded by Bill Kalal and unanimously approved by the Board by roll call. Accounts Payable A Motion was made by Pat Eriksen to authorize the payment of the quarterly bills listed on the Lauterback and Amen general ledger. Said Motion was seconded by Bill Kalal and unanimously approved by the Board by roll call. New Members None Request for Benefits Possibly one in July Military Service Time Buyback Pat Eriksen will work with Lauterbach and Amen for a possible buyback to occur later this year or early next year. Discussion of Topics for Next Meeting Agenda Review of Executive Session Minutes H. ADJOURNMENT A Motion was made by Ray Krueger to adjourn. Said Motion was seconded by Chris Ziola and unanimously approved by the Board. The meeting adjourned at 9:16 a.m. The next regular meeting of the DeKalb Firefighters Pension Board will be July 11, 2019. __________________________________________ Traci Lemay, Pension Board Recording Secretary Minutes approved by DeKalb Firefighters Pension Board on July 24, 2019.