Peoria Standard

The city of Peoria Firemen's Pension Fund Board of Trustees met Aug. 22 to approve several pension rolls.

Here is the meeting's agenda, as provided by the board:

August 22, 2016

Peoria, Illinois

AGENDA

REGULAR MEETING OF THE BOARD OF TRUSTEES OF THE

FIREMEN’S PENSION FUND OF PEORIA, ILLINOIS

A Regular Meeting of the Board of Trustees of the Firemen’s Pension Fund of Peoria, Illinois,

will be held this date at City Hall, Room 404, 419 Fulton Street, Peoria, Illinois, at 9:30 A.M. with

proper notice having been given, for the purpose of conducting regular Firemen’s Pension Fund

business.

ROLL CALL

Roll Call of the following members: Ball, Nichting, Phillips, Troglio, President Nieukirk – 5.

INVOCATION

Moment of silence in remembrance of those Firefighters who lost their lives while serving their

community.

MINUTES

Recommendation to Approve the Minutes of the Regular Board Meeting held on July 25, 2016,

as printed.

REGULAR BUSINESS

ITEM NO. 1 MONTHLY PORTFOLIO PERFORMANCE REVIEW by TOM McSHANE

GRAYSTONE CONSULTING (A business of Morgan/Stanley Smith-Barney), and

Discussion Regarding Recommendations, Possible Action Regarding the

Firemen’s Pension Fund Portfolio Performance, and Discussion and Review of

the Asset Allocations, Review of the Open Orders with the S&P 500 Exchange

Traded Fund (ETF), with Request to Receive and File Reports or Take Other

Action.

ITEM NO. 2 PRESENTATION by SEGAL, BRYANT AND HAMILL, with Request to Receive

and File or Take Other Action.

ITEM NO. 3 PRESENTATION by SPARE, KAPLAN BISCHEL & ASSOCIATES (SKBA), with

Request to Receive and File or Take Other Action.

ITEM NO. 4 REQUEST by the Senior Investment Management Consultant Tom McShane

with Graystone Consulting to CLOSE an OLD ACCOUNT with WELLS FARGO

BANK.

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ITEM NO. 5 Report from Fire Marshal Charles Lauss of Pension Fund Contributions, which

were made by payroll deductions during the MONTH of JULY 2016, from the

active members of the Peoria Fire Department and which checks were turned in

to the City Treasurer’s Office by Director of Finance/Comptroller, with

Recommendation to Concur and Receive and File.

Payroll Period When Deducted Amount

June 21, 2016 – July 5, 2016 July 15, 2016 $ 69,034.98

July 6, 2016 – July 20, 2016 July 31, 2016 $ 69,955.48

$138,990.46

ITEM NO. 6 Request to Approve the following BILLS:

July 2016 (Approve the Ratification of the Following Payments Previously Made)

Pensions for July 2016 (dated July 31, 2016)……………………………. $1,026,522.36

Segall Bryant & Hamill……………………………………………………… 14,112.04

Foster & Foster – Prepare GASB 67/68 Disclosures …………………. 3,000.00

Sikich – Audit of Financial Statements for Year Ended 12/31/15……. 3,000.00

2016 IPPFA MidAmerican Pension Conference - 5 Trustees………………. 1,675.00

SUBTOTAL FOR JULY 2016…………………………………………… $1,048,309.40

SKBA Capital Management, LLC – Mgmt Fee 1/4/16 through 6/30/16. 1,745.94*

Premier Asset Management, LLC – Quarterly Mgmt Fee as of 6/30/16 12,302.23*

Kayne Anderson Rudnick – Mgmt Fee for 7/1/16 to 9/30/16…………. 11,962.00*

GRAND TOTAL FOR JULY 2016…….……………………………… $1,074,319.57

August 2016 (Approve Payments for the Following)

Pensions for August 2016 (dated August 31, 2016)………………………. $1,025,173.19

Reimer Dobrovolny & Karlson, LLC ………………………………………… 10,467.32

Foster & Foster – January 1, 2016 Fire Actuarial Valuation and Report… 7,880.00

Lauterbach & Amen, LLP – Preparation of the DOI report for FY2015…. 4,085.00

Lauterbach & Amen, LLP – Professional Services for July 2016………… 3,155.00

Lauterbach & Amen, LLP – Professional Services for June 2016………. 3,155.00

Woodlake Medical Mgmt Inc. – IME Parkmon……………………………. 2,514.50

Sikich – Final Bill on Audit of Financial Statement for Year Ended 12/31/15 1,000.00

Woodlake Medical Mgmt Inc. – IME Brooks………………………………. 390.00

Woodlake Medical Mgmt. Inc. – IME Brooks……………………………. 390.00

Woodlake Medical Mgmt. Inc. – IME Brooks………………………………. 380.00

FedEx to Reimer Dobrovolny & Karlson……………………………………. 39.38

SUBTOTAL FOR AUGUST 2016……………………………………………. $1,058,629.39

Great Lakes Advisors – Mgmt Fee 4/1/16 through 6/30/16……………. 16,289.57*

GRAND TOTAL FOR JULY 2016…….…………………………………… $1,074,918.96

GRAND TOTAL FOR JULY AND AUGUST………………………………. $2,149,238.53

*No check should be processed for this amount. This amount is to be automatically deducted from the account.

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ITEM NO. 7 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of NEAL

LEE MCCADDON due to his Death on August 6, 2016, and to make payment to

the Neal Lee McCaddon Estate in the Amount of $966.28 for 6 days of August

2016. Recommendation: Receive and File the Death Certificate and to Approve

the Payment of $966.28 for 6 days of August 2016.

ITEM NO. 8 REQUEST to ACCEPT the APPLICATION for a WIDOW’S PENSION BENEFIT

for DOLORES MCCADDON, She Being the Widow of Neal Lee McCaddon, with

Benefits Commencing August 7, 2016, with her Benefit to be Based on 100% of

his Monthly Pension Benefit of $4,831.39 Per Month; Therefore Benefit for 24

days of August to be Paid in the amount of $3,865.10.

ITEM NO. 9 REQUEST to APPROVE and RATIFY the REMOVAL from the PENSION ROLLS

of BRENDA L. BOHM due to her Death on July 14, 2016, and to make payment

to the Brenda L. Bohm Estate in the Amount of $2,366.56 for 14 days of July

2016. Recommendation: Receive and File the Death Certificate Upon Receipt

and to Approve the Payment of $2,366.56 for 14 days of July 2016.

ITEM NO. 10 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of MABEL

HENEBERRY due to her Death on August 7, 2016, and to make payment to the

Mabel Heneberry Estate in the Amount of $614.83 for 7 days of August 2016.

Recommendation: Receive and File the Death Certificate Upon Receipt and to

Approve the Payment of $614.83 for 7 days of August 2016.

ITEM NO. 11 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of

CLARENCE E. HOLMES due to his Death on August 16, 2016, and to make

payment to the Clarence Homes Estate in the Amount of $1,483.10 for 16 days

of August 2016. Recommendation: Receive and File the Death Certificate Upon

Receipt and to Approve the Payment of $1,483.10 for 16 days of August 2016.

ITEM NO. 12 APPLICATION for REGULAR RETIREMENT PENSION for ROBERT M.

SOLLBERGER to become effective July 16, 2016, (last day paid by the City July

15, 2016) based on 67.9167% of his Annual Salary of $103,460.34 (which

includes longevity). Pension to be paid for the remaining 15 days of July, in the

Amount of $2,927.85 and $5,855.57 for every month thereafter with a request to

receive and file the letter to deduct monthly insurance premiums from his monthly

benefit check at the appropriate time. Recommendation for the Board to

Approve and Ratify Payments Previously Made.

ITEM NO. 13 MONTHLY FINANCIAL REPORTS from LAUTERBACH & AMEN, LLP for the

Month of JUNE 2016, which Includes the STATEMENT OF PLAN NET ASSETS,

STATEMENT OF CHANGES IN PLAN NET ASSETS, SUMMARY of CASH AND

INVESTMENTS, BALANCE SHEET, REVENUES and REVENUE REPORT,

EXPENSES and EXPENSE REPORT, PAYROLL JOURNAL, and VENDOR

CHECKS REPORT, with Recommendation to Approve.

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ITEM NO. 14 MONTHLY FINANCIAL REPORTS from LAUTERBACH & AMEN, LLP for the

Month of JULY 2016, which Includes the STATEMENT OF PLAN NET ASSETS,

STATEMENT OF CHANGES IN PLAN NET ASSETS, SUMMARY of CASH AND

INVESTMENTS, BALANCE SHEET, REVENUES and REVENUE REPORT,

EXPENSES and EXPENSE REPORT, PAYROLL JOURNAL, and VENDOR

CHECKS REPORT, with Recommendation to Approve.

ITEM NO. 15 RECEIPTS and DISBURSEMENTS REPORTS for PEORIA COMMUNITY BANK

and HARRIS BANK from Patrick Nichting, Treasurer, for the Month of AUGUST

2016, with Recommendation to Receive and File.

ITEM NO. 16 REQUEST for APPROVAL of a RESOLUTION Authorizing Trustee Patrick

Nichting the POWER TO INVEST, and Authorize Trustee Nichting to Maintain a

Minimum of $10,000.00 in the HARRIS BANK ACCOUNT.

ITEM NO. 17 REQUEST to RECEIVE and FILE the PEORIA FIREMEN’S PENSION FUND

FINANCIAL STATEMENTS and INDEPENDENT AUDITOR’S REPORT from

SIKICH for YEAR ENDED DECEMBER 31, 2015.

ITEM NO. 18 DISCUSSION Regarding the 2016 IPPFA MIDAMERICAN PENSION

CONFERENCE October 12 – 13, 2016, with Request to Allow Board Members to

Attend and to Receive Reimbursement for Per Diem, Mileage, and Hotel

Expenses.

UNFINISHED BUSINESS

ITEM NO. 19 STATUS on the DISABILITY APPLICATION OF MICHAEL BROOKS, with

Request to Receive and File.

ITEM NO. 20 STATUS on the BUYBACK OF FIREFIGHTER CHANCE BARLOW, with

Request to Receive and File.

NEW BUSINESS

CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES

EXECUTIVE SESSION

ADJOURNMENT