City of Prospect Heights Police Pension Board met Oct. 10.
Here is the agenda provided by the board:
1. Call to Order
2. Roll Call
3. Approval of Minutes
A. July 11, 2023 Regular Meeting Minutes
4. Public Comments
5. Approval of Expenditures
A. Richard Reimer Pension Board Legal Counsel Payment -
a. Quarterly Retainer plus General Matters - $750.00
B. Karen Schultheis, Recording Secretary October 10, 2023 , 4th Quarter Meeting $125.00
C. Invoices
a. Invoice# 80135 – Actuarial Report for fiscal year ended April 30, 2023 - Tax - $2,835.00
b. Invoice #80293 – Actuarial Report for the fiscal year ended April 30, 2023 – GASB 67/68 - $2,680.00
c. Invoice #80456– Year End work papers - $785.00
d. Invoice #79896 – June, 2023 Accounting and Benefits Administration- $760.00
e. Invoice 2082 – CompCore Pro Service Agreement – scheduling of IME Pension Board Todd Alan Godair - $10,900.00
f. Invoice #82021 – Accounting and Administrative Services - $760.00
g. Invoice #7870 – 2024 IPPFA membership Dues (due by 12/31/2023 - $795.00
h. Invoice #81270 – Police Pension Summary Analyses - $275.00
i. Invoice #80855 – Accounting and Benefits Administration - $760.00
D. IPPFA Payment – Registration of Trustees – Invoice #23-2045 - $2,250.00
E. Payment of Expenditures
6. Pension Board Legal Counsel Report
A. Review/amendment to cash management policy
B. Discussion/possible action Godair Disability- Request to Withdraw Application
7. Pension Board Investment Report
8. Pension Board Lauterbach and Amen Monthly Financial Report
A. Global Cash Movement – Crista Birkenheier
B. BMO Harris Collateralization Agreement
C. Discussion regarding opening a BMO Money Market
9. Old Business
A. Review of Investment Statement – from the July 11, 2023 meeting
B. Approval of the Actuarial Valuation – from the July 11, 2023 meeting
C. Review of Investment Statement – from the July 11, 2023 meeting
10. New Business
A. Adoption of recommended tax levy from actuarial, valuation and forward request to municipality
B. Adoption of municipal compliance report and forward to municipality
C. Schedule next calendar year quarterly meeting times/dates
D. Deadline for filing independent audit report with DOI
E. Deadline for filing of DOI annual report (October 31, 2023)
F. Approval of Officer Jared Musson to be added to the Police Pension Fund
G. City Contributions to the Prospect Heights Police Pension Plan – Trustee Huitink
H. Audit Request – Money Weighted Rate of Return – President Lange
I. Approval of Officer Richard Herdus to be added to the Police Pension
J. Records Management Policy – President Lange
K. Records Disposal Certificate Secretary of State (Records Disposal) – President Lange
11. Next Meeting Date – Tuesday, January 9, 2024 at 9 AM – City Hall. 8 North Elmhurst Road, Prospect Heights, IL 60070
12. Adjournment
https://www.prospect-heights.il.us/AgendaCenter/ViewFile/Agenda/_10102023-1368
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