City of Peoria Firemen’s Pension Fund Board of Trustees met Sept. 26.
Here is the agenda provided by the board:
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, 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: Higgins, Smith, Tarr, Tomblin, President Troglio – 5.
INVOCATION
A moment of silence will be held in remembrance of those Firefighters who have served our community.
MINUTES
Recommendation to Approve the Minutes of the Regular Rescheduled Meeting held on August 29, 2022, as printed.
REGULAR BUSINESS
ITEM NO. 1 MONTHLY PORTFOLIO PERFORMANCE REVIEW from MARQUETTE ASSOCIATES (FPIF) dated JULY 31, 2022, and the STATEMENT of RESULTS from NORTHERN TRUST dated JULY 2022 and AUGUST 2022, with Request to Receive and File.
ITEM NO. 2 REQUEST to Receive and File the PRESENTATION by FOSTER & FOSTER Regarding the January 1, 2022, ACTUARIAL VALUATION, Presented to the Board of August 29, 2022.
ITEM NO. 3 DIRECT REIMER & DOBROVOLNY to Send Correspondence to the City Regarding the Board’s Recommended Funding Level, in the Amount of $15,592,186.00, with Request to APPROVE.
ITEM NO. 4 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of AUGUST 2022, 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
July 21, 2022 – August 6, 2022 August 15, 2022 $ 63,014.69
August 7 2022 – August 20, 2022 August 31, 2022 $ 84,397.38***
TOTAL $147,412.07
***This includes back pay from the new contract***
ITEM NO. 5 Request to APPROVE the following BILLS:
Pensions for September 2022 (dated September 30, 2022) .......$1,515,026.37
Lauterbach & Amen PC - Prof Svcs June 2022 …………………………3,550.00
Trina D. Bonds -- 3rd qtr Admin Svcs (July -Sept) ……….....................1,350.00
IPPFA – Membership dues 1/1/23-12/31/23……. ..................................795.00
SUB-TOTAL FOR SEPTEMBER………………………………… . $1,520,721.37
APPROVE GRAND TOTAL FOR SEPTEMBER..………………. $1,520,721.37
ITEM NO. 6 REQUEST to AUTHORIZE the office of REIMER DOBROVOLNY & LABARDI to contact MEMBER JAMES MCCOY and ALTERNATE PAYEE to ADJUDICATE OVERPAYMENT to the MEMBER. If the MEMBER does not make payment in the amount of $8,537.83 to the ALTERNATE PAYEE within 30 days of the correspondence and provide the PENSION FUND with proof of the same, 10% of the monthly benefit amount shall be withheld from the MEMBER and paid to the ALTERNATE PAYEE until such time as the OVERPAID amount is satisfied.
ITEM NO. 7 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of ROBERT P. KISLER Due to His Death on AUGUST 30, 2022, and to Make Payments to the Robert P. Kisler Estate, in the Amount of $6,281.88, for 30 days of August 2022. Recommendation: To RECEIVE and FILE the Death Certificate, and to APPROVE the Payment of $6,281.88 for the 30 days of August.
ITEM NO. 8 REQUEST to ACCEPT the APPLICATION for a WIDOW’S PENSION BENEFIT for BETTY L. KISLER, She being the Widow of ROBERT P. KISLER, with Benefits Commencing August 31, 2022, with her Benefit Based on 100% of his monthly benefit of $6,491.28 per month; therefore Benefits for 1 day of August to be Paid, in the amount of $209.396 and $6,491.28 for each month thereafter. Recommendation: APPROVE the Payment $209.396 for August and $6,491.28 for each month thereafter.
ITEM NO. 9 REQUEST to APPROVE the REMOVAL from the PENSION ROLLS of RONALD R. VOSS Due to His Death on SEPTEMBER 16, 2022, and to Make Payments to the Ronald R. Voss Estate, in the Amount of $3,842.82, for 16 days of September 2022. Recommendation: To RECEIVE and FILE the Death Certificate Upon Receipt, and to APPROVE the Payment of $3,842.82 for the 16 days of September.
ITEM NO. 10 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN SCOTT L. VENZON to become effective August 23, 2022, (last day paid by the City August 22, 2022) based on 55.625% of his Annual Salary of $123,603.53 (which includes longevity). Pension to be paid for the remaining 9 days of August, in the Amount of $1,663.41 and $5,729.54 for every month thereafter with recommendation for the Board to APPROVE. (CLERK’S NOTE: These amounts reflect the 2% increase as provided by the Local 50 Contract approved by Council on August 20, 2022)
ITEM NO. 11 APPLICATION for REGULAR RETIREMENT PENSION for BATTALION CHIEF CLINT KUHLMAN to become effective August 25, 2022, (last day paid by the City August 24, 2022) based on 65.6250% of his Annual Salary of $140,971.72 (which includes longevity). Pension to be paid for the remaining 7 days of August, in the Amount of $1,740.83 and $7,709.39 for every month thereafter with recommendation for the Board to APPROVE. (CLERK’S NOTE: These amounts reflect the 2% increase as provided by the Local 50 Contract approved by Council on August 20, 2022)
ITEM NO. 12 APPLICATION for REGULAR RETIREMENT PENSION for FIRE CAPTAIN MARK HUEBNER to become effective September 7, 2022, (last day paid by the City September 6, 2022) based on 67.7083% of his Annual Salary of $111,501.45 (which includes longevity). Pension to be paid for the remaining 24 days of September, in the Amount of $4,870.80 and $6,291.31 for every month thereafter with recommendation for the Board to APPROVE. (CLERK’S NOTE: These amounts reflect the 2% increase as provided by the Local 50 Contract approved by Council on August 20, 2022)
ITEM NO. 13 REQUEST to APPROVE the ILLINOIS FIDUCIARY INSURANCE POLICY with ULLICO for the Policy Period November 15, 2022, to November 15, 2023.
ITEM NO. 14 MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of JULY 2022, 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 REQUEST for APPROVAL of a RESOLUTION Authorizing City Treasurer Stephen Morris the POWER TO INVEST, and Authorize City Treasurer Morris to Maintain a Minimum of $10,000.00 in the HARRIS BANK ACCOUNT.
UNFINISHED BUSINESS
NEW BUSINESS
CITIZENS’ OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES EXECUTIVE SESSION
ADJOURNMENT
http://www.peoriagov.org/content/uploads/2020/03/9-26-22-FIRE-PENSION-AGENDA_1663971756_add.pdf
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