Police Pension Board

DEKALB POLICE PENSION FUND Board of Trustees AGENDA January 17, 2020 10:00AM DeKalb Police Conference Room 700 W. Lincoln Hwy, DeKalb, IL 60115 1. Call to Order. CLOSED SESSIONS MUST BE TAPED! Post agenda 48 hours prior! 2. Roll Call. 3. Approval of Minutes of October 18, 2019. 4. Public Comment. 5. Treasurer’s Report. 6. Old business. 7. Bills for Payment. a) Consulting fee Wall and Associates 01/07/20 $13,443.84 for 4th quarter 2019. b) First National Bank #5010274 01/10/20 $834 for 4th quarter 2019. c) Lauterbach and Amen #40508 10/11/19 $1,060.00 for Affidavits of Eligibility December, 2018; #41178 11/20/19 $815 for October, 2019; #40653 $580 10/13/19 for FY18 MCR (all three under 30353 11/25/19); #41790 12/20/19 $815 for November, 2019. d) Reimer & Dobrovolny PC #25590 12/12/19 $562.25 for Nachman disability application. e) IPPFA 2020 dues 9/13/19 $795 (30347 10/28/19). f) City of DeKalb FY18 audit fee 7/3/19 $4,680 (30348 11/04/19). g) Foster & Foster #15763 11/8/19 $300 for Maxwell Paul portability calculation (30349 11/14/19). h) Pension Fund reimbursed by Kayes ($195.31), Mott ($195.31), and Boldt ($168.18) for refunded reservations at Grand Geneva for 2020 IPPFA Conference. 8. Applications for Membership a) Jorge Abonce DOH: 12/26/19 9. Requests for Benefits 10. New Business a) Discussion and approval of new investment policy. b) Approve 2020 COLAs. Adjournment. Next meeting April 17, 2020. 2020 meeting dates: January 17, April 17, July 24 (note this is 4th Friday of the month), and October 16.  MINUTES CITY OF DEKALB DeKalb Police Pension Fund October 18th, 2019 @ 10:00 am The DeKalb Police Pension Fund held a meeting on October 18th, 2019, 10:00 am at the DeKalb Police Department, 700 W. Lincoln Highway, DeKalb, IL President Jim Kayes called the meeting to order at 10:01 a.m. A. ROLL CALL Vice President Paul Mott called the roll and the following members of the DeKalb Police Pension Fund were present: Jim Kayes, Paul Mott, Joyce Stupegia and Joshua Boldt. Also present: David Wall with Wall & Associates, and Assistant City Manager Ray Munch. B. APPROVAL OF THE AGENDA – ADDITIONS / DELETIONS • Agenda approved on voice vote by Secretary Mott. 4 ayes. C. PUBLIC PARTICIPATION D. APPROVAL OF MINUTES • Minutes from the DeKalb Police Pension Fund Meeting on July 26th, 2019 were approved by voice vote. 4 ayes. (Jim Kayes, Paul Mott, Joyce Stupegia, Joshua Boldt) E. OLD BUSINESS • None F. INVESTMENT MANAGER REPORT • David Wall provided the quarterly report on fund performance for the third quarter of 2019. • Wall discussed investing half of the Oakmark fund into Vanguard International along with establishing a Principal U.S. Property Account. These changes will be addressed at the January meeting. Ray Munch advised against the transfer because of possible liquidity loss. G. NEW BUSINESS • BILLS FOR PAYMENT  o Motion by Paul Mott to pay bills listed on the agenda of October 18th, 2019. Second by Joshua Boldt. Roll call vote by Secretary Mott. Yes, votes from Joshua Boldt, Paul Mott, Joyce Stupegia and Jim Kayes. President Kayes declared the motion passed. • APPLICATIONS FOR MEMBERSHIP o Application for pension membership of the following: ▪ Kaela Gardner DOH: 08/12/19 ▪ Shaun Magill DOH: 08/12/19 o Motion to approve by Paul Mott, second by Joyce Stupegia. Roll call vote by Secretary Mott. Yes votes from Joshua Boldt, Joyce Stupegia, Paul Mott and Jim Kayes. President Kayes declared the motion passed. • SERVICE PURCHASE & TRANSFERS o Officer Mario Nonnenmann resigned on 09/16/19 as a deferred pensioner. o Sergeant Mike Stewart resigned on 08/10/19 as a deferred pensioner. o Officer Brad Thompson resigned on 09/08/19. o Officer Jon Irizarry resigned on 09/13/19. • MUNICIPAL COMPLIANCE REPORT o Discussion and approval of the FY18 Municipal Compliance Report. o Motion by Paul Mott, second by Joshua Boldt. Motion approved by voice vote. 4 ayes. (Jim Kayes, Paul Mott, Joyce Stupegia, Joshua Boldt). o A copy of the report was provided to the mayor and council on 08/20/19. • RESOLUTION REGARDING PENSION CONSOLIDATION o Motion by Joshua Boldt, second by Joyce Stupegia. Motion approved by voice vote. 4 ayes. (Jim Kayes, Paul Mott, Joyce Stupegia, Joshua Boldt). H. REQUEST FOR BENEFITS o Beneficiary Chuck Kross passed on 09/10/19. Approval of spousal benefits to Connie Kross. o Motion to approve by Paul Mott, second by Joyce Stupegia. Roll call vote by Secretary Mott. Yes votes from Joshua Boldt, Joyce Stupegia, Paul Mott and Jim Kayes. President Kayes declared the motion passed. I. ADJOURNMENT • Motion by Joshua Boldt to adjourn. Second by Joyce Stupegia. 4 ayes. President Kayes  declared the meeting adjourned at 10:50 a.m. __________________________________________ Paul Mott Secretary __________________________________________ Jim Kayes President *******Minutes approved by DeKalb Police Pension Fund on January 17th, 2020.*******