City of Peoria Firemen's Pension Fund Board of Trustees met June 26.
Here is the agenda provided by the Board:
ROLL CALL
Roll Call of the following members: Ball, Nichting, Phillips, Troglio, President Nieukirk – 5.
INVOCATION
A moment of silence in remembrance of those Firefighters who lost their lives while serving their community.
MINUTES
Recommendation to Approve the Minutes of the Rescheduled Regular Board Meeting held April 24, 2017, and the Special Board Meeting held April 24, 2017, 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, Discussion and Review of the Asset Allocations, Review of the Open Orders with the S&P 500 Exchange Traded Fund (ETF), and Possible Action on Custodial Agreement Change with Request to Receive and File Reports or Take Other Action.
ITEM NO. 2 Report from Fire Marshal Charles Lauss of Pension Fund Contributions, which were made by payroll deductions during the MONTH of MAY 2017, 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
April 21, 2017 – May 5, 2017 May 16, 2017 $ 69,666.82
May 6, 2017 - May 20, 2017 May 31, 2017 $ 69,417.09
$139,083.91
ITEM NO. 3 Request to Approve the following BILLS:
Pensions for June 2017 (dated June 30, 2017)................................................ $1,071,888.00
Reimer Dobrovolny & Karlson LLC – March – April 2017.......................................... 6,925.06
Foster & Foster – Prep of Dec 31, 2016 GASB 67/68 Disclosure Info...................... 3,000.00
Stefanie Tarr – Second Quarter 2017 Admin Services.............................................. 1,100.00
Sikich – Final Bill for December 31, 2016 Audit. .......................................................1,000.00
SUB-TOTAL FOR JUNE 2017.......................................................................... $1,083,913.06
McDonnell Investment Mgmt – Jan to Apr 2017 – Final ...................................Fee. 3,184.53
GRAND TOTAL FOR JUNE 2017......................................................................$1,087,097.59
ITEM NO. 4 REQUEST to AMEND the APPLICATION for REGULAR RETIREMENT PENSION Due to the Settlement of the Union Contract for FIRE CAPTAIN JOHN LAWRENCE SMITH to become effective June 30, 2017, (last day worked April 11, 2017) based on 72.5% of his Annual Salary of $102,261.92 (which includes longevity). Pension to be paid in the amount of $205.94 for the remaining 1 day of June and $6,178.32 for every month thereafter with a recommendation for the Board to Approve.
ITEM NO. 5 REQUEST to AMEND the APPLICATION for REGULAR RETIREMENT PENSION Due to the Settlement of the Union Contract for FIRE CAPTAIN MARK CONNOR to become effective June 29, 2020, (last day worked April 20, 2017) based on 64.7917% of his Annual Salary of $100,750.66 (which includes longevity). Pension to be paid in the amount of $362.66 for the remaining 2 days of June 2020 and $5,439.84 for every month thereafter with a recommendation for the Board to Approve.
ITEM NO. 6 REQUEST to Approve the GENERAL WAGE INCREASE of 2.25% of Retired Firefighter, JEFFREY A. LYONS, beginning April 1, 2017, in the Amount of $466.04, due to the Settlement of the Union Contract.
ITEM NO. 7 REQUEST to Approve the GENERAL WAGE INCREASE of 2.25% of Retired Firefighter, FRITZ W. SHOENBEIN, beginning April 26, 2017, in the Amount of $253.72, due to the Settlement of the Union Contract.
ITEM NO. 8 REQUEST to Approve the GENERAL WAGE INCREASE of 2.25% of Retired Firefighter, TERRY L. WESTHAFER, beginning May 1, 2017, in the Amount of $122.79, due to the Settlement of the Union Contract.
ITEM NO. 9 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of LARRY LOVELL due to his Death on May 30, 2017, and to make payment to the Larry Lovell Estate in the Amount of $5,475.35 for 30 days of May 2017. Recommendation: Receive and File the Death Certificate and to Approve the Payment of $5,475.35 for 30 days of May 2017.
ITEM NO. 10 REQUEST to ACCEPT the APPLICATION for a WIDOW’S PENSION BENEFIT for PAULETTE LOVELL, She Being the Widow of Larry Lovell, with Benefits Commencing May 31, 2017, with her Benefit to be Based on 100% of his Monthly Pension Benefit of $5,657.86 Per Month; Therefore Benefits for 1 day of May to be Paid, in the Amount of $182.51.
ITEM NO. 11 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of MICHAEL HAZEN due to his Death on June 2, 2017, and to make payment to the Michael Hazen Estate in the Amount of $215.27 for 2 days of June 2017. Recommendation: Receive and File the Death Certificate and to Approve the Payment of $215.27 for 2 days of June 2017.
ITEM NO. 12 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of DONALD
VAN SCOYOC due to his Death on June 5, 2017, and to make payment to the Donald Van Scoyoc Estate in the Amount of $707.33 for 5 days of June 2017. Recommendation: Receive and File the Death Certificate and to Approve the Payment of $707.33 for 5 days of June 2017.
ITEM NO. 13 REQUEST to ACCEPT the APPLICATION for a WIDOW’S PENSION BENEFIT for WANITA VAN SCOYOC, She Being the Widow of Donald Van Scoyoc, with Benefits Commencing June 6, 2017, with her Benefit to be Based on 100% of his Monthly Pension Benefit of $4,244.00 Per Month; Therefore Benefits for 25 days of June to be Paid, in the Amount of $3,536.67.
ITEM NO. 14 Review of APPLICATION FOR MEMBERSHIP to the Firemen’s Pension Fund for DEMARCO TILLMAN, with Recommendation to Approve. (Under Tier II Benefits)
ITEM NO. 15 MONTHLY FINANCIAL REPORTS from LAUTERBACH & AMEN, LLP for the Month of MAY 2017, 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. 16 RECEIPTS and DISBURSEMENTS REPORTS for PEORIA COMMUNITY BANK and HARRIS BANK from Patrick Nichting, Treasurer, for the Month of MAY 2017, with Recommendation to Receive and File.
ITEM NO. 17 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.
UNFINISHED BUSINESS
ITEM NO. 18 APPLICATION for REGULAR RETIREMENT PENSION for BARRY ROLETT to become effective July 6, 2017, (last day paid by the City July 5, 2017) based on 75.0% of his Annual Salary of $102,261.92 (which includes 8% longevity). Pension to be paid for the remaining 26 days of July, in the Amount of $5,360.50 and $6,391.37 for every month thereafter with recommendation for the Board to Approve.
ITEM NO. 19 CONTINUED DISCUSSION Regarding the BUYBACK OF MILITARY TIME, with a Request to Receive and File or Other Action Deemed Appropriate.
NEW BUSINESS
CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES
EXECUTIVE SESSION
ADJOURNMENT
https://docs.google.com/document/d/1rZuI5qA9Ki8TQoMa0AfKl20uEzb5uteUyJ6iiRjxGT8/edit
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