Village of Lincolnshire Police Pension Board met May 12.
Here is the agenda provided by the board:
CALL TO ORDER
1.0 ROLL CALL OF TRUSTEES (by secretary)
2.0 VIRTUAL MEETING DISCUSSION
2.1Rules, coordination, etc.
2.2 Vote to adopt virtual meeting procedures
3.0 APPROVAL OF MINUTES
3.1 February 11, 2020, Quarterly Meeting
4.0 TREASURER’S REPORT
4.1Reports from Lauterbach and Amen (email)
4.2 Pension Treasurer Michael Peterson business
4.2.1 Village Pension Funding Policy
4.2.2 Annual Municipal Audit Update
4.3 Other treasurer business
5.0 REVIEW INVESTMENT ACTIVITY
5.1 Legacy report, Doug Krapf
5.2 Discussion, motion and vote on investments
5.3 Mid-quarter rebalancing review and discussion
5.4 Future mid-quarter rebalance discussions and approval
5.5 Updated Investment Policy Statement
5.6 Updates from Mr. Krapf to active and retirees
6.0 PRESENTATION OF BILLS AND/OR DISBURSEMENTS
6.1 Puchalski, Goodloe, Marzullo – Legal Fees, $737.50
6.2 Foster and Foster, Actuarial Study, $3,500
6.3 IDOI Compliance Fee, $ PENDING (2019-$4,203.17)
6.4 Other Bills
7.0 OLD BUSINESS
7.1 Pension Consolidation Updates
7.2 Legal monitoring and litigation reports – Mr. Lee
7.3 Met Life Interest Checks
7.4 Other old business
8.0 NEW BUSINESS
8.1 Actuarial Valuation – Foster and Foster
8.2 Legal Updates, Ms. Goodloe
8.3 Statements of Economic Interest
8.4 Mayor Appointment, Mr. Herst
8.5 Board election procedures – due by July
8.5.1 President
8.5.2 Vice-President
8.5.3 Secretary
8.5.4 Assistant Secretary
8.5.5 Trustee
8.6 Freedom of Information Act Requests
8.6.1 None
8.7 Other new business
9.0 APPLICATIONS FOR MEMBERSHIPS
9.1 New Member Saad Muhammad
9.1.1 Hired January 13, 2020, Tier II Officer
9.1.2 Prior military service discussion
9.1.2.1 2 years service, $37,017.48
10.0 APPLICATIONS FOR BENEFITS
10.1 None.
11.0 PENSION BOARD TRUSTEE COMPLIANCE
11.1 2020 Training – 8 hours plus Consolidation Training
11.1.1 Steven Lee:
11.1.2 Adam Hyde:
11.1.3 Roy Bethel:
11.1.4 Mickey Herst:
11.1.5 Patrick Quillinan:
12.0 EXECUTIVE SESSION MATTERS
12.1 Review and discuss – No Executive Session Minutes as of current meeting
13.0 CITIZEN COMMENTS
14.0 ADJOURNMENT
14.1 Next meeting scheduled for August 11, 2020
The Lincolnshire Police Pension Fund Administrative Rules may be viewed by contacting Secretary Adam Hyde at ahyde@lincolnshireil.gov or 847.913.2349. Mr. Hyde is also the direct contact for other Police Pension Fund business, including Freedom of Information Act Requests (FOIA).
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