Kendall County Times

City of Plano Police Pension Board met Feb, 18.

Here is the agenda provided by the board:

CALL TO ORDER

ROLL CALL

GUESTS

APPROVAL OF MINUTES

1. Minutes of November 19, 2024 quarterly meeting

NEW BUSINESS

1. Treasurer’s Report

a. Treasurer’s Report as of December 2024 has a total balance of $11,110,044.68 (investments & cash on hand)

i. Midland States Bank Checking ending balance $250.014.82 (APY 0.07%)

ii. Midland States Bank ICS Sweep ending balance $858,656.72 (APY 3.92%)

iii. BMO Lauterbach Checking ending balance $95,188.36 (APY 0%)

iv. IPOPIF ending balance $9,906,184.78 (ROI: QTD -1.88%; YTD 9.59%)

b. Revenue and Expenditure Report – for your review

c. Original Budget – projections and requested amounts are noted for your review

d. Fiduciary Liability Insurance Renewal

e. Lauterbach & Amen Report

i. Active Member Statements

ii. Memo BMO Bank Operating Accounts

2. Approval Of Payment of Bills

a. Approve $100.00 to Roberto Hernandez –Meeting Minutes 02/18/25

b. Approve $47.60 to Lauterbach & Amen - 2% of audit fees Inv#98219

c. Approve $150.00 to Lauterbach & Amen - Benefit Administration Fee NOV Inv#98736

d. Approve $33.21 to BMO – Account Analysis Fee 12/23/24

e. Approve $3,079.00 to Alliant - Fiduciary Liability Insurance Renewal Inv#2928857

f. Approve $800.00 to Radja Collins Law - For Retainer Inv#1691

g. Approve $150.00 to Lauterbach & Amen - Benefit Administration Fee DEC Inv#99757

h. Approve $46.43 to BMO – Account Analysis Fee 01/22/25

i. Approve $4,103.19 to Eagle Ridge - Hotel for IPPFA Conf. 7 Attendees

j. Approve $4,080.00 to IPPFA Pension Conference Registration 8 Attendees

k. Approve $150.00 to Lauterbach & Amen - Benefit Administration Fee JAN Inv#100658

l. Mileage & Per Diem for IPPFA Conference:

i. Approve $1,233.27 to Harry Haggard

ii. Approve $507.20 to Herbert Gene Morton

iii. Approve $507.20 to Gordon Flanigan

iv. Approve $507.20 to Tracy Iversen

v. Approve $507.20 to Randall Klatt

vi. Approve $507.20 to Michael Rennels

vii. Approve $507.20 to Christian Latham

viii. Approve $507.20 to Zoila Gomez

m. Approval of Quarterly Management Investment Fees:

i. IPOPIF $695.67

3. Membership Applications

a. Kurt Griffing, Tier II, Hire Date 2/1/2025

4. Military Buy Back

a. Tracy Iversen submitted an Election to Purchase Military Service Prior to Employment

b. Lauterbach & Amen is currently in the process of performing a True Cost Calculation

5. Banking

a. Transfer from Midland Checking to IPOPIF

6. Correspondence

a. Statement of Economic Interest will be emailed to everyone - The County Clerk’s office is requesting Board members file online in accordance with the Illinois Governmental Ethics Act no later than May 1st

7. Training

a. Reservations and Hotels have been secured for the IPPFA Conference held May 7 – 9, 2025

b. HEROES FAMILY FUND Golf Outing will be May 6, 2025, register at https://heroes-familyfund-golf-outing.perfectgolfevent.com/

OLD BUSINESS

1. Transfer of Service

a. Brian Rolls requested to calculate the transfer of creditable service from Plano to Lisle

b. No further action is needed, Rolls did not issue payment to reinstates his Plano service

2. Schedule of Meeting Dates

a. February 18, 2025

b. May 20, 2025

c. August 19, 2025

d. November 18, 2025

3. Current Board

a. Mayor’s Appointment: Name and Expiring Terms

i. Gordon Flanigan Term Expires 5/2025

ii. Randall Klatt Term Expires 5/2026

b. Elected: Name and Expiring Terms

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 8/2026

c. Current Officers: Name and Expiring Terms

i. President: Gene Morton Term Ends 8/2025

ii. Vice President: Harry L. Haggard Term Ends 8/2025

iii. Secretary: Gordon Flanigan Term Ends 8/2025

iv. Assistant Secretary: Randall Klatt Term Ends 8/2025

v. Security Officer: Tracy Iversen Term Ends 8/2025

vi. FOIA/OMA Officer: Gene Morton Term Ends 8/2025

ATTORNEY’S REPORT

1. Rules and Regulations for the Pension Fund

2. Jeremiah Brown portability questions

NEXT MEETING DATE

1. May 20, 2025 at 2:00 PM Plano Police Department Conference Room

ADJOURN

https://www.cityofplanoil.com/AgendaCenter/ViewFile/Agenda/_02182025-2099