Kendall County Times

City of Plano Police Pension Board met Aug. 19.

Here is the agenda provided by the board:

CALL TO ORDER

ROLL CALL

GUESTS

APPROVAL OF MINUTES

1. Minutes of May 20, 2025 quarterly meeting

NEW BUSINESS

1. Treasurer's Report

a. Treasurer's Report as of June 30, 2025 has a total balance of $12,209,685.09 (investments & cash on hand)

i. Midland States Bank Checking ending balance $269,661.72 (APY 0.07%)

ii. Midland States Bank ICS Sweep ending balance $578,719.87 (APY 3.51%)

iii. BMO Lauterbach Checking ending balance $91,690.72 (APY 0%)

iv. IPOPIF ending balance $11,269,612.78 (ROI-QTD 7.89%)

b. Revenue and Expenditure Report for period ending 6/30/25-for your review

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

d. Annual Report by Treasurer (40 ILCS 5/3 141)

e. Audit Updates: Lauterbach & Amen have completed field work for the FY'25 audit

f. Actuarial Valuation

i. MWM

1. Statutory Minimum Contribution $812,716

2. Contribution to Prevent Negative Funding $841,695

3. Current Funded Ratio 61.44%, Prior Year 60.96%

ii. IPOPIF (not available yet)

1. https://www.ipopif.org/actuarial-reports/actuarial-valuation-reports

2. Approval Of Payment of Bills

a. Approve $100.00 to Roberto Hernandez - Meeting Minutes

b. Approve $6,200.00 to MWM - Actuarial Consulting

c. Approve $504.00 to Lauterbach & Amen - 2% of audit fees

d. Approve $450.00 to Lauterbach & Amen - Benefit Administration Fee for MAY - JUL\

e. Approve $925.00 to Radja Collins Law - For Retainer

f. Approve $122.24 to BMO - Account Analysis Fee MAY - JUN

g. Approval of Quarterly Management Investment Fees:

i. IPOPIF $2,682.51 APR-JUN

3. Membership Applications

a. Christopher McCanick, Tier 2, Hire Date: July 14,2025

4. Election

a. Election Held on July 23, 2025 and Closed on July 30, 2025 with only one nomination for the Active position was received, New Active Rep is Gene Morton and Term Expiring 8/2027

b. Election Held on July 25, 2025 and Closed on July 30, 2025 with only one nomination for the Retiree position was received, New Retiree Rep is Harry Haggard and Term Expiring 8/2027 C. Current Board Election: Name and Expiring Terms

OLD BUSINESS

i. Retiree Rep:

ii. Officers:

1. President

2. Vice President

3. Secretary

4. Assistant Secretary

5. Security Officer

6. FOIA/OMA Officer

ATTORNEY'S REPORT

NEXT MEETING DATE:

November 18, 2025 at 2:00 PM Plano Police Department Conference Room

ADJOURN

https://www.cityofplanoil.com/AgendaCenter/ViewFile/Agenda/_08192025-2159