Chicago City Wire

City of Prospect Heights Police Pension Board met Jan. 9.

Here is the agenda provided by the board:

1. Call to Order

2. Roll Call

3. Approval of Minutes

A. October 10, 2023 Regular Meeting Minutes

4. Public Comments

5. Approval of Expenditures

A. Karen Schultheis, Recording Secretary January 09, 2024 1st Quarter Meeting $125.00

B. Invoices

1. Invoice# 29756 – Reimer Dobrovolny & LaBardi Quarterly Retainer Fee (October – December, 2023) - $750.00; Disability Application of Todd Godair - $50.00 = $800.00
2. Invoice #83572 - $600.00; Preparation of the Municipal Compliance Report
3. Invoice #83776 - $1,445.00; Preparation of the Illinois Department of Insurance for fiscal year ended.
4. Invoice #84249 - $760.00; Professional Services for October, 2023
5. Invoice #85231 - $760.00 November 2023 Accounting and Benefits
6. Invoice #29894 - $1808.70 Legal Services rendered

C. Payment of Expenditures

6. Pension Board Legal Counsel Report

7. Pension Board Lauterbach and Amen Monthly Financial Report

A. Global Cash Movement – Crista Birkenheier

B. BMO Harris Collateralization Agreement

C. Discussion and possible action – Lauterbach & Amen proposal

8. Old Business

A. Approval of Colleen Zitkus transfer of Credible Service from Lincolnwood Police Department

B. Approval of Prospect Heights Police MCR- With IPOPIF Actuarial Valuation

C. Invoice #82982 - $760.00 September 2023 Accounting and Benefits – pre-approved at the October, 2023 meeting with documentation pending – No action required

9. New Business

A. Approval of annual COLA increases

B. Semi-Annual review of closed executive session minutes to determine if needs to remain confidential

C. Determine need for election of beneficiary and active trustees and/or reappointment of appointed trustees - request for reappointment of appointed trustees

D. Schedule annual examinations for disabled firefighters /police officers under age of 50

E. Annual verifications of eligibility for beneficiaries

F. Review/update contracts with vendors (accountants, actuaries, attorneys, investment managers/advisors or consultants)

G. Obtain predatory lending certification forms from Illinois regulated banks

H. Determine status/need for extension of Letter of Credit or alternative collateralization for Pension Fund operating accounts

I. Approval of the Police Pension Board Actuarial Funding Report and Recommended City Contribution of $1,625,822

10. Next Meeting Date – Tuesday, April 9, 2024 at 9 AM – City Hall. 8 North Elmhurst Road, Prospect Heights, IL 60070

11. Adjournment

https://www.prospect-heights.il.us/AgendaCenter/ViewFile/Agenda/_01092024-1389