City of Plano Plano Police Pension Board met Aug. 16

By Philip Gonzales

Aug 24, 2022

City of Plano Plano Police Pension Board met Aug. 16.

Here is the agenda provided by the board:

AGENDA FOR THE PLANO POLICE PENSION BOARD MEETING

CALL TO ORDER

ROLL CALL

GUESTS

INVESTMENT REPORTS

1. Old Second National Bank of Aurora

a. Ending balance as of 7/31/22 $269.74

2. Mitchell, Vaught and Taylor, Inc.

a. AC #6360 – ending balance as of 7/31/22 $0.00

b. AC #2665 – ending balance as of 7/31/22 $0.01

c. AC #1780 – ending balance as of 7/31/22 $365.67

3. Illinois Police Officer’s Pension Investment Fund (IPOPIF)

a. Ending balance as of 6/30/22 $7,501,132.23

APPROVAL OF MINUTES

1. Minutes of May 17,2022 quarterly meeting

NEW BUSINESS

1. TREASURER’S REPORT

a. Treasurer’s Report as of May 31,2022 has a total balance of $8,284,763.70 (investments & cash on hand)

b. Check registers for the Checking and Money Market accounts held at Midland States Bank

c. Revenue and Expenditure Report for Period Ending 7/31/2022 – for your review

d. Amended Budget – will start before the next meeting and need approval to make necessary adjustments

e. Audit Updates: Lauterbach & Amen have completed field work for the FY’22 audit and everything went well.

2. APPROVAL OF PAYMENT OF BILLS– Need Roll Call Vote

a. Approve check # 2294 $75.00 to Roberto Hernandez - Meeting Minutes

b. Approve check # 2295 $1,734.15 to Illinois Dept of Insurance - Compliance Fee

c. Approve check #2296 $500.00 to IPPAC - Annual Membership Fee

d. Approve check #2297 $775.00 to Collins & Radja, P.C. – For Retainer

e. Approve check #2298 $456.00 to Lauterbach & Amen - 2% of audit fees

f. Approval of Quarterly Management Investment Fees:

i. Mitchell Vaught & Taylor Inc.

ii. Old 2nd Wealth Management

iii. IPOPIF

3. Contribution Refund Requests – Need Roll Call Vote

a. Erik Favela, Termination Date 3/15/2022, Refund Amt. $3,357.15

b. CK-2299 $2,685.72 - 80% Due to them

c. EFT $671.43 - 20% for Taxes

4. Unclaimed Contributions (P.A. 101-0546 requires pension funds to report unclaimed contributions to the State Treasurer)

a. We have two (1) unclaimed contributions

i. Tara Estremera $158.51

ii. Need updated home address

5. Transfer of Service / Portability – Need Roll Call Vote

a. Cory Christenson Potability Application Received

i. Transfer of Carol Stream's service period of 3/26/18-12/23/21 (3 years, 8 months, 28 days) to the Plano Police Pension Fund

b. Approve Cost to Perform Actuarial True Cost Calculation

6. Correspondence

a. IPPAC Letter - post conference update

b. IML Flyer – certification training available

7. Training

a. Sexual Harassment

i. Training: Public Act 101-0221 amended the Illinois Human Rights Act ("IHRA") requiring: Illinois employers to provide annual sexual harassment prevention training by December 31, 2020 and annually thereafter

1. Training is attached for your review - Need Signature Sheets

b. IPPAC Pension Conference

i. All board members attended the IPPAC Pension Conference Held on May 11 - 13, 2022 and have the annual required 8-hours plus 4-hours of Consolidation Training ii. The new appointee will complete the required 16-hours trustee training virtually 8. Mayor’s Appointment

a. Appointed Gordon Flanigan on 8/8/2022 to the Police Pension Fund Board for Term to Expire on 5/2023

b. Richard “Dick” Anderson Resigned 5/2022

c. Janet Goehst Term Expires 5/2024

9. Election

a. Election Held May 31,2022 at 2:00 pm

i. Only one nominee was named, Jonathan Whowell, for the open position

ii. Current retiree and active representatives remain in place

b. Name and Expiring Terms

i. Retiree Rep: Harry L. Haggard Term Ends 8/2023

ii. Active Rep:

1. Gene Morton Term Ends 8/2023

2. Jonathan Whowell Term Ends 8/2024