Peoria Standard

City of Peoria Firemen's Pension Fund Board of Trustees met July 24.

Here is the minutes provided by the Board:

ROLL CALL

Roll Call showed the following Board Members present: Ball, Nichting, Troglio, President Nieukirk- 4; Absent: Phillips - 1.

Others present: Attorney Jim Dobrovolny of Reimer Dobrovolny & Karlson; Attorney John Dundas of Hasselberg Grebe Snodgrass Urban & Wentworth on behalf of the City of Peoria; and Chief Deputy City Clerk Stefanie Tarr.

INVOCATION

President Nieukirk requested a moment of silent prayer or silent reflection 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 May 22, 2017, and the Regular Board Meeting held June 26, 2017, as printed.

Trustee Troglio moved to approve the Minutes of the Regular Board Meeting held on May 22, 2017, and the Regular Board Meeting held June 26, 2017, as printed; seconded by Trustee Nichting.

Approved by viva voce vote.

REGULAR BUSINESS

ITEM NO.1

PRESENTATION by FOSTER & FOSTER Regarding the January 1, 2017, ACTUARIAL VALUATION, with Request to Receive and File.

Trustee Nichting said Mr. Jason Franken of Foster & Foster was unable to attend this meeting and he asked the Board to defer this matter to the August Regular Board meeting.

Trustee Ball moved to defer this item to the August 28, 2017, Regular Board Meeting; seconded by Trustee Troglio.

Approved by viva voce vote.

ITEM NO. 2

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), with Request to Receive and File the Reports.

Trustee Troglio moved to receive and file the Performance Update Report for period ending June 30, 2017; seconded by Trustee Nichting.

Approved by viva voce vote.

ITEM NO.3

Report from Fire Marshal Charles Lauss of Pension Fund Contributions, which were made by payroll deductions during the MONTH of JUNE 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

May 21, 2017 - June 5, 2017 June 6,2017 - June 20, 2017

$ 69,368.99 $ 69.339.75 $138,708.74

Trustee Nichting moved to concur and place on file the Fire Marhsal's Report for June 2017; seconded by Trustee Troglio.

Approved by viva voce vote.

ITEM NO.4

Request to Approve the following BILLS:

Pensions for July 2017 (dated July 31,2017) 1,085,282.20 

City of Peoria - 2nd June 15, 2017 June 30,

 2017Quarter 2017 Postage. 29.75 2017 

IPPFA MidAmerican Pension Conference for Jack Nieukirk 375.00 

2017 IPPFA MidAmerican Pension Conference for Joe Troglio 375.00 

2017 IPPFA MidAmerican Pension Conference for Patrick Nichting 375.00 

2017 IPPFA MidAmerican Pension Conference for Beth BaiL. 375.00 

City of Peoria - Purchase of 3 iPads 1,006.23 

Lauterbach & Amen, LLP - Professional Services June 2017. 3,245.00 

Lauterbach & Amen, LLP - Professional Services May 2017. 3,245.00 

Lauterbach & Amen, LLP -1001 for Fiscal Year Ended 12/31/16 4,205.00 

Graystone Consulting - Investment Advisory FeeApril to June 2017 24,456.09 

SUB-TOTAL FOR JULY 2017 $1,122,969.27

SKBA Capital Management, LLC - Mgmt Fee4/1/17 through 6/30/17 1,716.21* 

GRAND TOTAL FOR JULY 2017 $1,124,685.48

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

Trustee Nichting moved to approve the bills in the grand total amount of $1,124,685.48; seconded by Trustee Troglio.

Approved by roll call vote. 

Yeas: Ball, Nichting, Troglio, President Nieukirk- 4. 

Nays: None.

ITEM NO.5

APPLICATION for REGULAR RETIREMENT PENSION for BRIAN L. WILSON to become effective July 17,2017, (last day paid by the City July 16,2017) based on 67.9167% of his Annual Salary of $107,375.01 (which includes longevity). Pension to be paid for the remaining 15 days of July, in the Amount of $2,940.60 and $6,077.13 for every month thereafter with recommendation for the Board to Approve.

After noting that the calculations were based on the actual number of days in the month versus the standard 30 days, Trustee Nichting moved to approve the Application for Regular Retirement Pension for Brian L. Wilson to become effective July 17, 2017, (last day paid by the City July 16, 2017) based on 67.9167% of his annual salary of $107,375.01 (which includes longevity); pension to be paid for the remaining 15 days of July in the amount of $2,940.60 and $6,077.13 for every month thereafter with recommendation for the Board to approve; seconded by Trustee Troglio.

Approved by roll call vote. 

Yeas: Ball, Nichting, Troglio, President Nieukirk- 4. 

Nays: None.

ITEM NO. 6

MONTHLY FINANCIAL REPORTS from LAUTERBACH & AMEN, LLP for the Month of JUNE 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.

Trustee Ball moved to approve the Monthly Financial Reports from Lauterbach & Amen, LLP for the month of June 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; seconded by Trustee Troglio.

Approved by roll call vote. 

Yeas: Ball, Nichting, Troglio, President Nieukirk- 4. 

Nays: None.

ITEM NO.7

RECEIPTS and DISBURSEMENTS REPORTS for PEORIA COMMUNITY BANK and HARRIS BANK from Patrick Nichting, Treasurer, for the Month of JUNE 2017,with Recommendation to Receive and File.

Trustee Nichting noted an increase in the Fund's rates at Peoria Community Bank which brought the rate up to over 1.5 points.

Trustee Ball moved to receive and file the Receipts and Disbursements Reports for Peoria Community Bank and Harris Bank from Patrick Nichting, Treasurer, for the month of June 2017; seconded by Trustee Troglio.

Approved by viva voce vote.

ITEM NO.8

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.

Trustee Ball moved to approve 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; seconded by Trustee Troglio.

Approved by viva voce vote.

ITEM NO.9

DISCUSSIONS Regarding a QUALIFIED ILLINOIS DOMESTIC RELATIONS ORDER AND CONSENT FOR AN ISSUANCE for Heidi Schoenbein n/kla Chiavario, Previously Married to Firefighter Fritz W. Schoenbein, with a Request to Receive and File or Take Other Action Deemed Appropriate.

Attorney Dobrovolny reviewed the QILDRO presented on behalf of Heidi Schoenbein n/kla Heidi Chiavario. He reported that Mr. Schoenbein had already retired and that the QILDRO used a percentage for the amount versus an actual dollar amount. He said an additional Order known as a Court Calculations Order was needed noting that the Board would not perform the calculations. He said the Board needed another Order in order to start making payouts. He said when Mr. Schoenbein would begin to receive his COLAs, Ms. Chiavario would receive a portion of those as well through the QILDRO. He said he would send an email to Ms. Chiavario's attorney, and he recommended deferring this matter to the August Firemen's Pension meeting.

Trustee Ball moved to defer this item to the August 28,2017, Regular Firemen's Pension meeting; seconded by Trustee Troglio.

Motion to defer to the August 28,2017, Regular Firemen's Pension Board meeting was approved by roll call vote. 

Yeas: Ball, Nichting, Treglio, President Nieukirk- 4. 

Nays: None.

ITEM NO. 10

DISCUSSION Regarding the CITY OF PEORIA'S SUPPLEMENT TO PETITION TO INTERVENE in Regards to the MATTER of the Application for a Line-of-Duty Disability Pension made by Angela Allen with a Request to Receive and File or Take Other Action Deemed Appropriate.

EXECUTIVE SESSION

Trustee Ball moved to go into EXECUTIVE SESSION pursuant to 2(c)(4) Evidence or testimony presented in open hearing, or in closed hearing where specifically authorized by law, to a quasi-adjudicative body, as defined in this Act, provided that the body prepares and makes available for public inspection a written decision setting forth its determinative reasoning; seconded by Trustee Troglio.

Motion to go into Executive Session pursuant to 2(c)(4) Evidence or testimony presented in open hearing, or in closed hearing where specifically authorized by law, to a quasi-adjudicative body, as defined in this Act, provided that the body prepares and makes available for public inspection a written decision setting forth its determinative reasoning was approved by roll call vote. 

Yeas: Ball, Nichting, Troglio, President Nieukirk- 4. 

Nays: None.

The Board went into Executive Session at 9:42 A.M.

RECONVENING OF THE BOARD OF TRUSTEES

The Board reconvened at 10:22 A.M.

Roll Call showed the following Board Members Physically present: Ball, Nichting, Troglio, President Nieukirk- 4; Absent: Phillips- 1.

Others present: Attorney Jim Dobrovolny of Reimer Dobrovolny & Karlson; Attorney John Dundas of Hasselberg Grebe Snodgrass Urban & Wentworth on behalf of the City of Peoria; and Chief Deputy City Clerk Stefanie Tarr.

ITEM NO. 10

DISCUSSION Regarding the CITY OF PEORIA'S SUPPLEMENT TO PETITION TO INTERVENE in Regards to the MATTER of the Application for a Line-of-Duty Disability Pension made by Angela Allen with a Request to Receive and File or Take Other Action Deemed Appropriate. (Continued)

Attorney Dobrovolny recommended approving the Petition to Intervene subject to the following conditions:

1. The City would have 14 days to supplement the documents that had not already been provided, and 2. Any hearsay objections to the Independent Medical Evaluations (IMEs), the City would have to pay for the evidence depositions of those IMEs.

Trustee Nichting moved to approved the Petition to Intervene on behalf of the City of Peoria subject to the conditions that the City would have 14 days to supplement the documents that had not already been provided and any hearsay objections to the Independent Medical Evaluations (IMEs), the City would have to pay for the evidence depositions of those IMEs; seconded by Trustee Ball.

Attorney Dundas expressed a concern for the 14 day limit, and he asked 21 days be provided instead.

Trustee Nichting moved to amend his motion from 14 days to supplement the document to 21 days to supplement the documents; seconded by Trustee Ball.

Motion to approve the Petition to Intervene on behalf of the City of Peoria subject to the conditions that the City would have 21 days to supplement the documents that had not already been provided and any hearsay objections to the IMEs the City would have to pay for the evidence deposition for those IMEs was approved by roll call vote.

Yeas: Ball, Nichting, Troglio, President Nieukirk - 4.

Nays: None.

ITEM NO. 11

DISCUSSION Regarding the 20171 PPFA MIDAMERICAN PENSION CONFERENCE, to be Held October 3 - 6,2017, in St. Louis, Missouri. RECOMMENDATION: To Allow Board Members to Attend, if they wish, and to Receive a Per Diem, and Reimbursement for Hotel and Travel Expenses.

It was noted that everyone was registered for the conference except for Trustee Phillips, who would be attending an AFFI Conference in October instead, which will be on the August Fire Pension Agenda for approval.

Trustee Ball moved to allow Board Members to attend, if they wish, and to receive a per diem and reimbursement for hotel and travel expenses to the 2017 IPPFA MidAmerican Pension Conference to be held October 3 - 6, 2017, in St. Louis, Missouri; seconded by Trustee Troglio.

Approved by roll call vote. 

Yeas: Ball, Nichting, Troglio, President Nieukirk - 4. 

Nays: None.

UNFINISHED BUSINESS

ITEM NO. 12

CONTINUED DISCUSSION Regarding the BUYBACK OF MILITARY TIME, with a Request to Receive and File or Other Action Deemed Appropriate.

Attorney Dobrovolny distributed a revised draft policy to all Trustees. Discussions were held on the interest rate wherein Attorney Dobrovolny said interest could not be charged on the buybacks. He said a Firefighter buying back military time would have up until the day he retires to buy back time. He asked the Trustees to review the draft that was distributed and additional discussions would be held at the August Fire Pension meeting.

Trustee Ball moved to defer the discussion regarding the buyback of military time to the August 28,2017, Regular Firemen's Pension meeting; seconded by Trustee Troglio.

Motion to defer to the August 28, 2017, Regular Firemen's Pension meeting was approved by viva voce vote.

NEW BUSINESS

Angela Allen Disability Attorney Dundas asked for clarification regarding when the time would begin to run for the City to tender additional records, and Attorney Dobrovolny said the 21 days for the City to tender additional documents would begin today and that he would notify all Counsel of the same.

CITIZENS' OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES

It was determined there were no citizens to address the Board of Trustees.

EXECUTIVE SESSION

It was determined that an Executive Session was not needed at this time.

ADJOURNMENT

Trustee Ball moved to adjourn the Regular Firemen's Pension Board Meeting; seconded by Trustee Troglio.

Approved by viva voce vote.

The meeting adjourned at 10:39 AM.

http://www.peoriagov.org/content/uploads/2017/01/7-24-17-Fire-Pension-Minutes_1501021134_add.pdf