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Friday, April 3, 2020

City of Alton POlice Pension Board met January 28

By Angelica Saylo Pilo | Feb 5, 2020

City

City of Alton POlice Pension Board met Jan. 28.

Here is the agenda provided by the board:

1. CALL TO ORDER / ROLL CALL

2. PUBLIC COMMENTS

3. MINUTES - Read and approve the minutes for previous board meeting

4. CORRESPONDENCE

a) Coalition for Qualified Plan Status refund.

b) Wolf Popper correspondence, November 21, 2019

c) Wolf Popper correspondence, December 19, 2019

d) AON Actuarial Valuation Report.

5. BILLS

a) Board Clerk, Jennifer Lando (Jan. $1,150; Feb. $1,150; Mar. $1,150);

b) Lowery Asset Consulting $3,500.00 (4th Quarter, 2019);

c) Dennis J. Orsey, P.C. $1,500.00 (quarterly retainer)

d) City of Alton (Police Pension’s share for annual audit performed by Scheffel Boyle) ($1,850.00)

e) Rob Franke, reimbursement for forms and mailing supplies for 1099 forms. ($59.08)

f) Foster & Foster, military buyback calculations for John Wimmersberg ($300.00)

g) Cameo Holland, reimbursement for hotel room for training ($65.52)

h) Others

6. TREASURER’S REPORT / APPROVE 2020 BENEFIT PAYMENTS(including 2020 COLA increases) - Cameo Foster

7. OLD BUSINESS

a) Discuss status of John Wimmersberg request for portability from Jerseyville Police Pension Fund to Alton Police Pension Fund.

b) Discuss Shane Gibbs retirement subject to QILDRO Calculation Order as it relates to the 1st COLA due in June, 2020.

8. NEW BUSINESS

a) Discuss Public Act 101-0610 (Senate Bill 1300) amendments and the effects on downstate police and fire pension funds, including new trustee training requirements for 2020.

b) Review City’s independent Actuarial Valuation Report prepared by AON and compare to Municipal tax levy ordinance and City funding of pension fund.

8. NEW BUSINESS (CONTINUED)

c) Discuss upcoming April election / May appointment for board members

• Michael Beaber, active / elected, term expires 4/30/2020;

• Seth Stinnett, active / elected, term expires 4/30/2020;

• Larry Brakeville, retired / elected, term expires 4/30/2020;

• Kirby Ontiz, appointed, term expires 5/12/2020.

d) Illinois Finance Entity forms due February 28, 2020.

e) Discuss filing Economic Interest disclosure forms with County Clerk by May 1, 2020.

f) Discuss Public Act 100-0542 regarding required disclosures by Investment Consultants and submission by Lowery Asset Consulting.

9. APPLICATION FOR MEMBERSHIP

a) Brandon Roberts

b) Samuel Pruett

c) Zachary Travis

10. APPLICATION FOR BENEFITS

11. INVESTMENT REPORT - Lowery Asset Consulting

12. NEXT MEETING DATE (Tues., April 28, 2020 @ 10:00 a.m.) / ADJOURNMENT

https://www.cityofaltonil.com/minutes/18/2020-01-28%20Agenda.pdf

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Organizations in this Story

City of Alton