Firefighters' Pension Fund Board

FIREFIGHTERS' PENSION FUND MEETING MINUTES WHEATON FIRE STATION 1, 1 FAPP CIRCLE, WHEATON, ILLINOIS 60187 MINUTES OF A REGULAR MEETING OF THE WHEATON FIREFIGHTERS' PENSION FUND BOARD OF TRUSTEES NOVEMBER 14, 2024 A regular meeting of the Wheaton Firefighters' Pension Fund Board of Trustees was held on Thursday, November 14, 2024 at 1:00 p.m. in the Wheaton Fire Station #1 located at 1 Fapp Circle, Wheaton, Illinois 60187, pursuant to notice. CALL TO ORDER: Trustee Skilondz called the meeting to order at 1 :00 p.m. ROLL CALL: PRESENT: Trustees Jason Skilondz, Rick Kammes, John Cochran, Charles Hartman and Michael Savegnago ABSENT: None ALSO PRESENT: Attorney Brian LaBardi, Reimer Dobrovolny & LaBardi PC; Molly Barker, Lauterbach & Amen, LLP (L&A); Heidi Andorfer, Foster & Foster; John Falduto, Sawyer Falduto Asset Management, LLC; Greg Kiesewetter, Cook Castle Associates, LLC PUBLIC COMMENT: There was no public comment. APPROVAL OF MEETING MINUTES: July 30, 2024 Regular Meeting and August 19, 2024 Special Meeting: The Board reviewed the July 30, 2024 regular meeting minutes and August 19, 2024 special meeting minutes. A motion was made by Trustee Savegnago and seconded by Trustee Cochran to approve the July 30, 2024 regular meeting minutes and August 19, 2024 special meeting minutes as written. Motion carried unanimously by voice vote. INVESTMENT REPORTS: FPIF - Marquette Associates: The Board reviewed the FPIF Monthly Summary prepared by Marquette Associates for the period ending September 30, 2024. As of September 30, 2024, the one-month total net return is 2.1 % and the year-to-date total net return is 13.5% for an ending market value of $9,689,623,457. The current asset allocation is as follows: Total Equity at 64.9%, Fixed Income at 28.6%, Alternatives at 4.8% and Cash at 1.7%. Statement ofResults: The Board reviewed the FPIF Statement of Results for the period ending September 30, 2024. The beginning value was $60,703,370.20 and the ending value was $62,127,484.17. The net return was 2.04%. Discussion/Possible Action-Sawyer Falduto Asset Management Post-Consolidation Services: Mr. Falduto presented an overview of post-consolidation services offered by Sawyer Falduto Asset Management, LLC. A motion was made by Trustee Cochran and seconded by Trustee Savegnago to retain Sawyer Falduto Asset Management for post-consolidation services at the monthly rate of $500 on a month-to-month basis effective January 1, 2025. Motion carried by roll call vote. A YES: Trustees Skilondz, Kammes, Hartman, Savegnago and Cochran NAYS: None ABSENT: None ACCOUNTANT'S REPORT - LAUTERBACH & AMEN, LLP: Monthly Financial Report and Presentation and Approval ofBills: The Board reviewed the Monthly Financial Report for the nine-month