Plano City Mayor Michael (Mike) Rennels | Plano IL Area Chamber of Commerce / Facebook
Plano City Mayor Michael (Mike) Rennels | Plano IL Area Chamber of Commerce / Facebook
City of Plano Police Pension Board met Feb. 20.
Here is the agenda provided by the board:
CALL TO ORDER
ROLL CALL
GUESTS
APPROVAL OF MINUTES
1. Minutes of November 21, 2023 quarterly meeting
NEW BUSINESS
1. Treasurer’s Report
a. Treasurer’s Report as of December 31, 2023 has a total balance of $10,040,376.55 (investments & cash on hand)
i. Midland States Bank Checking ending balance $247,502.85
ii. Midland States Bank ICS Sweep ending balance $653,044.62
iii. BMO/Harris CD ending balance $303,785.34
iv. Arbitrage Management Group ending balance $ 264,311.18
v. Illinois Police Officer’s Pension Investment Fund ending balance $8,571,732.56
b. Original Budget – projections and requested amounts are noted for your review
c. Fiduciary Liability Insurance Renewal
d. Lauterbach & Amen Benefits Administration proposal Feb2024
2. Approval Of Payment of Bills
a. Approve check #2336 $100.00 to Roberto Hernandez - Meeting Minutes
b. Approve check #2337 $94.00 to Zoila Gomez - H&R Block Tax Service
c. Approve check #2338 $800.00 to Radja Collins Law – For Retainer
d. Approve check #2339 $3,079.00 to Alliant - Fiduciary Liability Insurance
e. Approval of Quarterly Management Investment Fees:
i. Illinois Police Officer’s Pension Investment Fund (IPOPIF) $870.10
3. Membership Applications
a. David Svehla, Tier II, Hire Date 2/5/2024
4. Retirement Application
a. Jonathan Whowell Disabled Children Letters
b. Jonathan Whowell, Hired 1/5/1998, Retirement Effective 1/6/2024, Pensionable Salary 129,077.00, Effective Date of Pension 2/1/2024, IDOI Benefit Payment calculator Initial Annual Benefit is $83,900.05, Retirement Letter is attached
c. Shawn Barks, Hired 4/3/2000, Retirement Effective 4/13/2024, Pensionable Salary 114,978.28, Effective Date of Pension 5/1/2024, IDOI Benefit Payment calculator Initial Annual Benefit is $68,986.97 Annual, Retirement Letter is attached
5. Transfer of Service
a. Ronald McNeff has submitted another Request to Transfer Service from Plano to Aurora, Reinstatement of Service from Plano will be needed at a cost to McNeff of $23,114.77, Amount of funds to be transferred to Aurora is $49,818.21, To transfer 2 years, 4 months, and 23 days of creditable Service,
b. Approve transfer request and payment to be issued to Aurora when reinstatement of service is paid in full.
6. Banking
a. Need to select Authorized Signers and issue a resolution
b. Transfer Money from Midland to BMO/Harris 13-month CD at 4.975% interest rate
7. Correspondence
a. Statement of Economic Interest will be emailed by the County Clerk’s office; Board members must file one in accordance with the Illinois Governmental Ethics Act no later than May 1st
8. Election
a. Special Election Held December 29, 2023 and only one nomination for the position was received; New Active Rep is Tracy Iversen and Term Expiring 8/2024
9. Current Board: Name and Expiring Terms
a. Mayor’s Appointment:
i. Gordon Flanigan Term Expires 5/2025
ii. Randall Klatt Term Expires 5/2024
b. Elected:
i. Retiree Rep: Harry L. Haggard Term Ends 8/2025
ii. Active Rep:
1. Gene Morton Term Ends 8/2025
2. Tracy Iversen Term Ends 8/2024
c. Current Officers:
i. President: Gene Morton Term Ends 8/2024
ii. Vice President: Harry L. Haggard Term Ends 8/2024
iii. Secretary: Gordon Flanigan Term Ends 8/2024
iv. Assistant Secretary: Randall Klatt Term Ends 8/2024
v. Security Officer: Zoila Gomez Term Ends 8/2024
vi. FOIA/OMA Officer: Gene Morton Term Ends 8/2024
10. Meeting Dates
a. February 20, 2024
b. May 21, 2024
c. August 20, 2024
d. November 19, 2024
OLD BUSINESS
ATTORNEY’S REPORT
a. IPPAC Pension Conference
NEXT MEETING DATE: May 21, 2024 AT 2:00 P.M.
ADJOURN
https://www.cityofplanoil.com/AgendaCenter/ViewFile/Agenda/_02202024-1975
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