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Police Pension Board

Regular Meeting

Mundelein, IL · July 25, 2024

AgendaPacketMinutes

Agenda

NOTICE OF A REGULAR MEETING OF THE MUNDELEIN POLICE PENSION FUND BOARD OF TRUSTEES The Mundelein Police Pension Fund Board of Trustees will conduct a regular meeting on Thursday, July 25, 2024 at 6:30 p.m. in the Mundelein Police Department located at 221 North Lake Street, Mundelein, Illinois 60060, for the purposes set forth in the following agenda: AGENDA 1. Call to Order 2. Roll Call – Frasier, Shutter, Cupec, Ahern, Callaghan 3. Public Comment 4. Village of Mundelein Treasurer’s Report 5. Approval of Meeting Minutes a.) May 30, 2024 Regular Meeting b.) Semi-Annual Review of Closed Session Meeting Minutes 6. President’s Report 7. Accountant’s Report – Lauterbach & Amen, LLP a.) Monthly Financial Report b.) Presentation and Approval of Bills c.) Additional Bills, if any d.) Discussion/Possible Action – Cash Management Policy i. Status of BMO Bank Money Market Account ii. Discussion/Possible Action – Repeat Withdrawals from IPOPIF iii. Discussion/Possible Action – BMO Bank Account Balance Parameters 8. Investment Reports – IPOPIF a.) Verus Advisory, Inc. b.) State Street Statements 9. Communications and Reports a.) Affidavits of Continued Eligibility b.) Active Member File Maintenance 10. Trustee Training Updates a.) Approval of Trustee Training Registration Fees and Reimbursable Expenses 11. Applications for Membership/Withdrawals from Fund a.) Application for Membership – Noe Torres b.) Deceased Surviving Spouse – Shirley Modes 12. Applications for Retirement/Disability Benefits 13. Old Business 14. New Business a.) Review/Approve – Fiduciary Liability Insurance Renewal b.) Review Preliminary Actuarial Valuation c.) BMO Bank Signature Cards and Resolution Update d.) Board Officer Elections – President, Vice President, Secretary and Assistant Secretary e.) FOIA Officer and OMA Designee f.) IDOI Annual Statement 15. Attorney’s Report – Ottosen a.) Legal Updates 16. Closed Session, if needed 17. Action on items discussed in Closed Session, if needed 18. Adjournment FUTURE MEETING DATES October 24, 2024 at 6:30 p.m.

Packet

NOTICE OF A REGULAR MEETING OF THE MUNDELEIN POLICE PENSION FUND BOARD OF TRUSTEES The Mundelein Police Pension Fund Board of Trustees will conduct a regular meeting on Thursday, July 25, 2024 at 6:30 p.m. in the Mundelein Police Department located at 221 North Lake Street, Mundelein, Illinois 60060, for the purposes set forth in the following agenda: AGENDA 1. Call to Order 2. Roll Call – Frasier, Shutter, Cupec, Ahern, Callaghan 3. Public Comment 4. Village of Mundelein Treasurer’s Report 5. Approval of Meeting Minutes a.) May 30, 2024 Regular Meeting b.) Semi-Annual Review of Closed Session Meeting Minutes 6. President’s Report 7. Accountant’s Report – Lauterbach & Amen, LLP a.) Monthly Financial Report b.) Presentation and Approval of Bills c.) Additional Bills, if any d.) Discussion/Possible Action – Cash Management Policy i. Status of BMO Bank Money Market Account ii. Discussion/Possible Action – Repeat Withdrawals from IPOPIF iii. Discussion/Possible Action – BMO Bank Account Balance Parameters 8. Investment Reports – IPOPIF a.) Verus Advisory, Inc. b.) State Street Statements 9. Communications and Reports a.) Affidavits of Continued Eligibility b.) Active Member File Maintenance 10. Trustee Training Updates a.) Approval of Trustee Training Registration Fees and Reimbursable Expenses 11. Applications for Membership/Withdrawals from Fund a.) Application for Membership – Noe Torres b.) Deceased Surviving Spouse – Shirley Modes 12. Applications for Retirement/Disability Benefits 13. Old Business 14. New Business a.) Review/Approve – Fiduciary Liability Insurance Renewal b.) Review Preliminary Actuarial Valuation c.) BMO Bank Signature Cards and Resolution Update d.) Board Officer Elections – President, Vice President, Secretary and Assistant Secretary e.) FOIA Officer and OMA Designee f.) IDOI Annual Statement 15. Attorney’s Report – Ottosen a.) Legal Updates 16. Closed Session, if needed 17. Action on items discussed in Closed Session, if needed 18. Adjournment FUTURE MEETING DATES October 24, 2024 at 6:30 p.m. Page 1 of 1