City of Peoria Board of Trustees Firemen's Pension Fund met Aug. 24.
Here is the agenda provided by the board:
ROLL CALL
Roll Call of the following members: Ball, Nichting, Smith, Tomblin, President Troglio – 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 27, 2020, as printed.
REGULAR BUSINESS
ITEM NO. 1 PRESENTATION by FOSTER & FOSTER Regarding the January 1, 2020, ACTUARIAL VALUATION, with Request to Receive and File.
ITEM NO. 2 REVIEW of the FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT for the Years Ended December 31, 2019, with Request to APPROVE.
ITEM NO. 3 DIRECT REIMER & DOBROVOLNY to Send Correspondence to the City Regarding the Board’s Recommended Funding Level, in the Amount of $13,966,374.00, with Request to APPROVE.
ITEM NO. 4 Request to RECEIVE and FILE the MUNICIPAL COMPLIANCE REPORT for the FIREMEN’S PENSION FUND OF PEORIA for the Year Ended DECEMBER 31, 2019, Prepared by Lauterbach and Amen.
ITEM NO. 5 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, with Request to RECEIVE AND FILE Reports or Take Other Action.
ITEM NO. 6 Report from Fire Marshal Tony Ardis of Pension Fund Contributions, which were made by payroll deductions during the MONTH of JULY 2020, 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.
ITEM NO. 7 Request to Approve the following BILLS:
Pensions for August 2020 (dated August 31, 2020)………………………. $1,318,478.67
Lauterbach & Amen, LLP – Preparation of the IDOI Report for FY 12/31/19 4,455.00
Lauterbach & Amen, LLP – Professional Services for the month of June 3,410.00
Lauterbach & Amen, LLP – Professional Services for the month of July. 3,410.00
SUBTOTAL FOR AUGUST 2020……………………………………………. $1,329,753.67
GRAND TOTAL FOR AUGUST 2020….…………………………………… $1,329,753.67
ITEM NO. 8 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of CURTIS ALLAN SIMPSON due to his Death on August 3, 2020, and to make payment to the Curtis Simpson Estate, in the Amount of $931.14 for 3 days of August 2020. Recommendation: RECEIVE and FILE the Death Certificate and to APPROVE the Payment of $931.14 for 3 days of August.
ITEM NO. 9 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN FRANK SMITH to become effective August 6, 2020, (last day paid by the City August 5, 2020) based on 65.4167% of his Annual Salary of $106,648.93 (which includes longevity). Pension to be paid for the remaining 26 day of August, in the Amount of $4,876.04 and $5,813.85 for every month thereafter with recommendation for the Board to APPROVE.
ITEM NO. 10 APPLICATION for REGULAR RETIREMENT PENSION for FIRE ENGINEER MARK MONTOYA to become effective August 6, 2020, (last day paid by the City August 5, 2020) based on 50.4167% of his Annual Salary of $94,254.32 (which includes longevity). Pension to be paid for the remaining 26 days of August, in the Amount of $3,321.28 and $3,959.99 for every month thereafter with recommendation for the Board to APPROVE.
ITEM NO. 11 APPLICATION for REGULAR RETIREMENT PENSION for FIRE ENGINEER EDWARD CAGLE to become effective August 21, 2020, (last day paid by the City August 20, 2020) based on 65.6259% of his Annual Salary of $94,254.32 (which includes longevity). Pension to be paid for the remaining 11 days of August, in the Amount of $1,829.08 and $5,154.53 for every month thereafter with recommendation for the Board to APPROVE.
ITEM NO. 12 MONTHLY FINANCIAL REPORTS from LAUTERBACH & AMEN, LLP for the Month of JULY 2020, 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. 13 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. 14 APPROVE the REFUND of CONTRIBUTIONS Paid in a Direct Rollover, in the Amount of $57,589.62, to CHARLES LAUSS Due to his Resignation on January 31, 2018, from the Peoria Fire Department.
ITEM NO. 15 DISCUSSION Regarding the Award of TEMPORARY PENSION BENEFITS to PAUL EDWARDS with Request to APPROVE.
ITEM NO. 16 DISCUSSION Regarding the Award of TEMPORARY PENSION BENEFITS to JOHN SCHNIBBEN with Request to APPROVE.
UNFINISHED BUSINESS
NEW BUSINESS
CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES
Those who wish to participate or listen to the meeting can do so by calling 1-877-777-0154, Passcode 1971350#.
EXECUTIVE SESSION
ADJOURNMENT
http://www.peoriagov.org/content/uploads/2020/03/8-24-20-FIRE-PENSION-FUND-BOARD-MTG-AGENDA_1598041473_add.pdf
Alerts Sign-up