Alton Police and Fire Pension Board met April 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) Wolf Popper – no losses – December 2019
b) Wolf Popper – no losses – January 2020
c) IRS mailing address change
d) AON Funding Risk Assessment, February 2020
e) Illinois Department of Insurance The Siren dated April 10, 2020
f) QILDRO letter sent from Attorney Christopher Hunter regarding dissolution of marriage of Brent Bertschi
5. BILLS
a) Board Clerk, Jennifer Lando (April: $1,150; May: $1,150; June: $1,150);
b) Jennifer Lando, postage, $24.00 (certified mailing of Forms 945, 1099-MISC and 1099-R’s);
c) Lowery Asset Consulting $3,500.00 (1st quarter 2020);
d) Dennis J. Orsey, P.C. $1,500.00 (quarterly retainer);
e) Others
6. TREASURER’S REPORT (January, February & March 2020) and Illinois Compiled Statutes section 40 ILCS 5/3-141 annual funding statement for fiscal year April 1, 2019 – March 31, 2020 – Cameo Foster
7. OLD 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) Illinois Finance Entity forms due February 28, 2020;
c) Discuss filing Economic Interest disclosure forms with County Clerk by May 1, 2020.
8. NEW BUSINESS
a) Discuss Attorney Dennis Orsey’s current contract for legal services;
b) Discuss state of board members and compliance for 2020 trustee training requirements;
c) Discuss status of 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 Ontis, appointed, term expires 5/12/2020.
9. INVESTMENT REPORT – Lowery Asset Consulting
a) Ratify the following Lowery recommendation:
• Take $2.5 million from the Mesirow investment account and move it
to the pension mutual fund account;
• Then purchase the iShares Russell 1000 fund (already a holding in large cap) with the $2.5 million.
10.APPLICATION FOR MEMBERSHIP
a) John R. Hoefert, Tier 2 participant, hired March 16, 2020;
b) Jacob W. Stewart, Tier 2 participant, hired March 16, 2020.
11.APPLICATION FOR BENEFITS
a) Joshua L. Hall – request for refund of contributions;
b) Nicholas W. Tindall – request for refund of contributions (form received too late to pay out in April – vote to pay out in May);
c) Danny W. Rauschkolb – regular retirement
12.NEXT MEETING DATE (Tuesday, July 28, 2020 at 10:00 am.) /
ADJOURNMENT
https://www.cityofaltonil.com/minutes/18/2020-04-28%20agenda.pdf
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