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2024-07-17 - Police Pension Board - Agenda Packet 0 Buffalo Grove Police Pension Fund 46 Raupp Boulevard, Buffalo Grove, Illinois 60089 1i) Tony Turano Cody Barker Tony Montiel Jeff Feld Kenneth Fox President Trustee Secretary Asst. Secretary Trustee NOTICE OF A REGULAR MEETING OF THE BOARD OF TRUSTEES The Buffalo Grove Police Pension Fund Board of Trustees will conduct a regular meeting on Wednesday, July 17, 2024 at 10:00 a.m. in the Buffalo Grove Police Department located at 46 Raupp Boulevard, Buffalo Grove, Illinois 60089, for the purposes set forth in the following agenda: AGENDA 1. Call to Order 2. Roll Call 3. Public Comment(limit of 3 minutes per person) 4. Approval of Meeting Minutes a. April 15,2024 Regular Meeting b. Semi-Annual Review of Closed Session Meeting Minutes 5. Treasurer's Report 6. Accountant's Report—Lauterbach& Amen,LLP a. Monthly Financial Report b. Presentation and Approval of Bills c. Additional Bills,if any d. Discussion/Possible Action—Cash Management Policy 7. Investment Report a. IPOPIF—Verus Advisory, Inc. i. State Street Statements 8. Applications for Membership/Withdrawals from Fund a. Application for Membership—Oliver Sorisho 9. Applications for Retirement/Disability Benefits a. Approve Regular Retirement Benefits—Janet Freeman 10. Old Business a. IDOI Annual Statement 11. New Business a. Review/Approve—Actuarial Valuation and Tax Levy Request b. Review/Adopt—Municipal Compliance Report c. Board Officer Elections—President,Vice President, Secretary and Assistant Secretary d. FOIA Officer and OMA Designee e. Approve Resolution Designating Authorized Agents and/or Account Representatives for IPOPIF f. Portability Update—Julie Ramirez g. Military Purchase—Derek Hawkins 12. Trustee Training Updates a. Approval of Trustee Training Registration Fees and Reimbursable Expenses 13. Communications and Reports a. Active Member File Maintenance 14. Attorney's Report—Reimer Dobrovolny&LaBardi PC a. Legal Updates 15. Closed Session,if needed 16. Adjournment 1 of 71 MINUTES OF A REGULAR MEETING OF THE BUFFALO GROVE POLICE PENSION FUND BOARD OF TRUSTEES APRIL 15, 2024 A regular meeting of the Buffalo Grove Police Pension Fund Board of Trustees was held on Monday,April 15,2024 at 10:00 a.m.in the Buffalo Grove Police Department located at 46 Raupp Boulevard, Buffalo Grove, Illinois 60089,pursuant to notice. CALL TO ORDER: Trustee Montiel called the meeting to order at 10:00 a.m. ROLL CALL: PRESENT: Trustees Tony Montiel, Jim Yester and Jeff Feld ABSENT: Trustees Tony Turano and Ken Fox ALSO PRESENT: Attorney Brian LaBardi, Reimer Dobrovolny &LaBardi PC; Molly Barker and Anthony Gedvilas,Lauterbach&Amen,LLP (L&A); Finance Director Chris Black and Denise Bocek, Village of Buffalo Grove; Officer Cody Barker and Pensioner Scott Eisenmenger,Buffalo Grove Police Department PUBLIC COMMENT: There was no public comment. APPROVAL OF MINUTES: January 16, 2024 Regular Meeting: The Board reviewed the January 16, 2024 regular meeting minutes. A motion was made by Trustee Montiel and seconded by Trustee Yester to approve the January 16, 2024 regular meeting minutes as written. Motion carried unanimously by voice vote. TREASURER'S REPORT: There was no Treasurer's Report presented. ACCOUNTANT'S REPORT — LAUTERBACH & AMEN, LLP: Monthly Financial Report and Presentation and Approval of Bills: The Board reviewed the Monthly Financial Report for the two-month period ending February 29, 2024 prepared by L&A. As of February 29, 2024, the net position held in trust for pension benefits is $95,691,856.86 with a change in position of $1,043,654.21. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal, Quarterly Deduction Report, Quarterly Transfer Report and Quarterly Disbursement Report for the period December 1, 2023 through February 29, 2024 for total disbursements of$24,274.14. A motion was made by Trustee Montiel and seconded by Trustee Feld to accept the Monthly Financial Report as presented and to approve the disbursements shown on the Quarterly Disbursement Report in the amount of $24,274.14. Motion carried unanimously by voice vote. Additional Bills, if any: There were no additional bills presented for approval. Discussion/Possible Action — Cash Management Policy: The Board reviewed the Cash Management Policy and determined that no changes are needed at this time. INVESTMENT REPORT: IPOPIF — Verus Advisory, Inc. and State Street Statements: The Board reviewed the IPOPIF Investment Performance Review prepared by Verus Advisory, Inc. 2of71 Buffalo Grove Police Pension Fund Meeting Minutes—April 15, 2024 Page 2 of 4 for the period ending February 29, 2024. As of February 29, 2024, the one-month total net return is 2.2% for an ending market value of$10,157,016,823. The Board also reviewed the IPOPIF Market Value Summary and Statement of Transaction Detail for the period ending February 29, 2024. The beginning value was $92,856,096.63 and the ending value was $94,527,815.16. The month-to-date net return was 2.19%. APPLICATIONS FOR MEMBERSHIPIWITHDRAWALS FROM FUND: Application for Membership—Drew Stephans: The Board reviewed the Application for Membership submitted by Drew Stephans.A motion was made by Trustee Montiel and seconded by Trustee Yester to accept Drew Stephans into the Buffalo Grove Police Pension Fund effective March 11, 2024, as a Tier 11 participant. Motion carried unanimously by voice vote. Contribution Refund — Jacob Sjodin: The Board reviewed the contribution refund request submitted by Jacob Sjodin. A motion was made by Trustee Montiel and seconded by Trustee Yester to approve Jacob Sjodin's contribution refund in the amount of$11,382.31 paid in a direct rollover issued on a date yet to be detennined. Motion carried by roll call vote. AYES: Trustees Montiel, Yester and Feld NAYS: None ABSENT: Trustees Turano and Fox APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Approve Temporary Non-Duty Disability Benefit — Maegan Diaz: The Board reviewed the temporary non-duty disability benefit calculation for Maegan Diaz prepared by L&A. Officer Diaz had an entry date of December 18, 2020, disability date of April 30, 2023, effective date of pension of May 1, 2023, 35 years and 11 months of age at date of disability, 2 years of creditable service, applicable salary of $87,882.08, applicable pension percentage of 50%, amount of originally granted monthly pension of $3,661.75 and return to work date of June 1, 2023. A motion was made by Trustee Montiel and seconded by Trustee Yester to approve Maegan Diaz's temporary non-duty disability benefit calculated by L&A. Motion carried by roll call vote. AYES: Trustees Montiel, Yester and Feld NAYS: None ABSENT: Trustees Turano and Fox OLD BUSINESS: Review Updated Letter of Credit: The Board reviewed the Federal Home Loan Bank of Chicago Letter of Credit for the Buffalo Grove Police Pension Fund. No further action is needed at this time. Military Buyback—Jaime Verduzco: The Board noted that L&A mailed correspondence to Jaime Verduzco regarding his request to calculate the amount of money due to the Buffalo Grove Police Pension Fund to purchase 24 months of military service time, but no response has been received to date. The calculation is now expired, and the Board determined that the request is now void.No further action is needed. 3of71 Buffalo Grove Police Pension Fund Meeting Minutes—April 15, 2024 Page 3 of 4 NEW BUSINESS:Review Preliminary Actuarial Valuation: The Board reviewed the preliminary Actuarial Valuation prepared by L&A. The final report will be reviewed by the Board at the next regular meeting. IDOI Annual Statement: The Board noted that the IDOI Annual Statement is in process and the final report will be sent to the Board for review upon completion. Certify Board Election Results — Active and Retired Member Positions: L&A conducted an election for both of the active member positions on the Buffalo Grove Police Pension Fund Board of Trustees.Anthony Turano and Cody Barker ran unopposed and were elected for two-year terms expiring May 12, 2026. L&A also conducted an election for the retired member position on the Buffalo Grove Police Pension Fund Board of Trustees. Tony Montiel ran unopposed and was elected for a two-year term expiring May 12, 2026. A motion was made by Trustee Montiel and seconded by Trustee Yester to certify the active and retired member election results. Motion carried unanimously by voice vote. Review Authorized Agents and Account Representatives: The Board noted that this item was tabled until the next regular meeting. TRUSTEE TRAINING UPDATES: The Board reviewed upcoming training opportunities. Trustees were reminded to submit any certificates of completion to L&A for recordkeeping. Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training registration fees or reimbursable expenses presented for approval. COMMUNICATION AND REPORTS: Affidavits of Continued Eligibility: The Board noted that all 2024 Affidavits of Continued Eligibility have been received by L&A and the originals were given to the Board for their recordkeeping. Statements of Economic Interest: The Board was reminded that the Statements of Economic Interest are due by May 1, 2024. ATTORNEY'S REPORT — REIMER DOBROVOLNY & LABARDI PC: QILDRO — Timothy Gretz: The Board noted the QILDRO Order, Calculation Order, Consent to Issuance and $50 processing fee for Timothy Gretz have been received and approved by the Board Attorney with payments commencing with the February payroll cycle. A motion was made by Trustee Montiel and seconded by Trustee Yester to approve payment to the alternate payee as discussed. Motion carried unanimously by voice vote. Legal Updates: The Board reviewed the Legal and Legislative Update quarterly newsletter. Attorney LaBardi discussed pension fund consolidation, recent court cases and decisions, as well as general pension matters with the Board. CLOSED SESSION, IF NEEDED: There was no need for closed session. 4of71 Buffalo Grove Police Pension Fund Meeting Minutes—April 15, 2024 Page 4 of 4 ADJOURNMENT: A motion was made by Trustee Montiel and seconded by Trustee Feld to adjourn the meeting at 10:44 a.m. Motion carried unanimously by voice vote. The next regular meeting is July 17, 2024 at 10:00 a.m. Board President or Secretary Minutes approved by the Board of Trustees on Minutes prepared by Molly Barker, Professional Services Administrator, Lauterbach &Amen, LLP 5of71 Buffalo Grove Police Pension Fund Audit Adjustments For the Fiscal Year Ended December 31, 2023 Included as of the Month Ended May 31, 2024 6of71 N.�IVVER,A,1r)A[Y - tlAPERv KJLE,119JJNO8s fi(g?0 L,ultffbach & Atn,en� L11-T, . ................. MEMO TO: Members of the Pension Board of Trustees FROM: A.J. Weber RE: Audit Adjustments This memo is intended to inform you of the agreed upon audit adjustments that were recorded in the current month's financial statements. These are non-cash adjustments and are not related to the portfolio's market value. More precisely, this month audit adjustments were posted. In order to finalize the financial statements, these entries were made in order to agree to the audit. These audit adjustments occur on an annual basis. The balance sheet and more precisely the fund balance has been updated to agree to the audit figures of the pension fund. Any receivables, liabilities or changes to fund balance have been posted in order to reconcile to the audit. Should you have any questions, please feel free to contact A.J. Weber or Susan Hill at 630.393.1483. Cordially, &,44tew, .2-2P Lauterbach&Amen, LLP 7 of 71 Buffalo Grove Police Pension Fund Audit Adjustments Journal As of Fiscal Year Ended December 31,2023 Reference Account Description Debit Credit Journal: Audit Adjustments AUDadj 15-600-00 AUD 1 -To record FYE23 Audit Adjustment 12,394.00 0.00 AUDadj 41-210-00 AUD 1 -To record FYE23 Audit Adjustment 0.00 (12,394.00) 12,394.00 (12,394.00) 8of71 Buffalo Grove Police Pension Fund Monthly Financial Report For the Month Ended May 31, 2024 Prepared By L.,auterbach & Amen, LIT 4aEHM`1FD PUBI.C ACCOUNTANT'S 668 N.RIVER ROAD-NAPERVILLE,ILLINOIS 60563 PHONE 630.393.1483-FAX 630.393.2516 www.lauterbacharrien.com 9 of 71 Buffalo Grove Police Pension Fund Table of Contents Starting on Page Accountants' Compilation Report................................................................................................ 1-1 Financial Statements Statement of Net Position - Modified Cash Basis................................................................... 2-1 Statement of Changes in Net Position- Modified Cash Basis................................................ 2-2 Other Supplementary Information Pooled Investment NAV vs Accumulated Net Investments Graph.......................................... 3-1 CashAnalysis Report............................................................................................................... 4-1 Cash Transfer to/from Consolidated Fund Graph.................................................................... 5-1 RevenueReport....................................................................................................................... 6-1 Cash Analysis Summary Graph............................................................................................... 7-1 ExpenseReport........................................................................................................................ 8-1 Pension Benefits and Expenses Graph.................................................................................... 9-1 Member Contribution Report.................................................................................................. 10-1 PayrollBatch Report............................................................................................................... 11-1 Quarterly Deduction Report.................................................................................................... 12-1 Quarterly Transfer Report........................................................................................................ 13-1 Quarterly Disbursement Report............................................................................................... 14-1 10 of 71 Accountants' Compilation Report 11 of 71 N.�IVVER,A,1r)A[Y - tlAPERv HJLE,119JJNO8s fi(g?O L,atltffbach & Atn,en� L11-T, . ................. July 08, 2024 Buffalo Grove Police Pension Fund 46 Raupp Boulevard Buffalo Grove, IL 60089 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Buffalo Grove Police Pension Fund which comprise the statement of net position - modified cash basis as of May 31, 2024 and the related statement of changes in net position - modified cash basis for the five months then ended in accordance with the modified cash basis of accounting and for determining that the modified cash basis of accounting is an acceptable financial reporting framework. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants. We did not audit or review the interim financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these interim financial statements. The interim financial statements are prepared in accordance with the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America. Management has elected to omit substantially all of the disclosures ordinarily included in interim financial statements prepared in accordance with the modified cash basis of accounting. If the omitted disclosures were included in the interim financial statements and other supplementary information, they might influence the user's conclusions about the Pension Fund's assets, liabilities, net position, additions and deductions. Accordingly, the interim financial statements and other supplementary information are not designed for those who are not informed about such matters. Other Matter The other supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management. The other supplementary information was subject to our compilation engagement. We have not audited or reviewed the other supplementary information nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on the other supplementary information. Cordially, 'Aoltm, z4v Lauterbach&Amen, LLP 1-1 12 of 71 Financial Statements 13 of 71 Buffalo Grove Police Pension Fund Statement of Net Position - Modified Cash Basis As of May 31, 2024 Assets Cash and Cash Equivalents $ 241,568.69 Investments at Fair Market Value Money Market Mutual Funds 550,637.16 Stock Equities 532,800.00 Pooled Investments 95,805,026.07 Total Cash and Investments 97,130,031.92 Due from Municipality 12,394.00 Prepaids 795.00 Total Assets 97,143,220.92 Liabilities Expenses Due/Unpaid 3,043.08 Total Liabilities 3,043.08 Net Position Held in Trust for Pension Benefits 97,140,177.84 See Accountants'Compilation Report 14 of 71 2-1 Buffalo Grove Police Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Five Months Ended May 31, 2024 Additions Contributions -Municipal $ 665,009.22 Contributions -Members 440,087.33 Total Contributions 1,105,096.55 Investment Income Interest and Dividends Earned 242,431.34 Net Change in Fair Value 3,856,155.48 Total Investment Income 4,098,586.82 Less Investment Expense (19,419.22) Net Investment Income 4,079,167.60 Total Additions 5,184,264.15 Deductions Administration 25,03 7.03 Pension Benefits and Refunds Pension Benefits 2,668,263.62 Refunds 11,382.31 Total Deductions 2,704,682.96 Change in Position 2,479,581.19 Net Position Held in Trust for Pension Benefits Beginning of Year 94,660,596.65 End of Period 97,140,177.84 See Accountants'Compilation Report 15 of 71 2-2 Other Supplementary Information 16 of 71 rA 15 qi Ok 0 rA rn rwwM 64 c"ll rA O O N �0 NLr) Ln v) 0 01 v) l� OMO vim', O O �P N O O o0 00 M V1 V� V7 V'1 kr) I 00 �Y O ' n "- N M N O O N N N � 7t _ O O Ln V1 1n kr .--i DD M O M Roi M O e—q N N N D1 0\ a, kr kr M lM0 N � v N O o0 oc \ 00 00 r-- In \C iM V N � O m n M 01 O N o0 00 X cM 01 N oc N r-- Oo 00 N N M M ID N � O1 M M o0 a0 In oc kn � O v� iN � M O 01 O 01 OA O N N ' 01 k ' �c �y M N O o0 10 �O O N M Q N oc 00 01 01 7 M V') oo O1 •ry O O O � O O ,Mti O O Ra Ln N m �'Y vl � dj VIJ W F�1 I�1 oo �O 00 oc N N �n O N mcn m N N v) r-- o Ln oo • W Vr N a, '7r O V-1 Q CO O 00 O O 00 O Co •ry O � � O O R l� O 17� r� O 00 01 00 O O w oo O I� Vr �T Ln V� AC N M O 01 O O � M vl v) DA CCi QJ w—oO �O O O In �c 01 v� ' In r ' .-r oo u r- M O vl� h OC M tM N o0 C` N O aA .--i 01 00 O1 M l� M InON 01 00 [� [� N N 1D l� '7Y D, cY qra 0o O 41 N N N 1�6 f- � M 10 t` a0 In ,--i v') l� 00 D, oo l-- v) l— n N oo N ' N ' kn l� m O o0 01 N N N h In V') 01 N v') N r- 1D 1D 7 10 N �O O v'r N O M H oo v-) m 1.0 m 10 M M V'1 N N M en rY '77 7 69 O v� ' o y u W x O 0 o G L? u T G" cli a rx d E- n / o rn N T N s: J N s� � N N � �i cs N o ti U 0 G� U M U a U OA `n � IIV II �11 ti M N t7 ti M N h O O O O O O p O O O O O p O O O O O O p O O O O O O p Buffalo Grove Police Pension Fund Revenue Report as of May 31, 2024 Received Received this Month this Year Contributions Contributions -Municipal 41-210-00-Current Tax $ 146,975.57 665,009.22 146,975.57 665,009.22 Contributions-Members 41-410-00-Contributions-Current Year 52,144.72 288,522.69 41-420-00-Contributions-Prior Year 497.95 66,807.57 41-440-00-Interest Received from Members 144.53 827.67 41-450-00-Other Member Revenue 0.00 83,929.40 52,787.20 440,087.33 Total Contributions 199,762.77 1,105,096.55 Investment Income Interest and Dividends 43-102-09-BMO Bank-Checking 189.33 687.28 43-252-09-Schwab-Fixed Income #8061 2,357.83 10,721.33 43-450-09- Schwab- Stock Equities #8061 1,554.00 2,886.00 43-800-01 -IPOPIF Consolidated Pool Income 62,105.65 227,924.77 66,206.81 242,219.38 Gains and Losses 44-450-09- Schwab- Stock Equities 48061 13,253.40 116,905.20 44-800-01 -IPOPIF Consolidated Pool-Unrealized 2,550,099.42 2,467,588.03 44-800-02-IPOPIF Consolidated Pool-Realized 38,181.59 1,271,662.25 2,601,534.41 3,856,155.48 Other Income 45-200-00-Accrued Interest (1,554.00) 0.00 49-000-01 -Other Income 0.00 211.96 (1,554,00) 211.96 Total Investment Income 2,666,187.22 4,098,586.82 Total Revenue 2,865,949.99 5,203,683.37 See Accountants'Compilation Report 20 of 71 6-1 a N A E�� cf"� ar w d GCS PO C O U rM � l a 0 aC' u 0 0 0 0 � C7 C7 C7 C7 C'� C7 C ed C7 C7 C Buffalo Grove Police Pension Fund Expense Report as of May 31, 2024 Expended Expended this Month this Year Pensions and Benefits 51-020-00- Service Pensions $ 498,194.68 2,489,998.77 51-030-00-Non-Duty Disability Pensions 0.00 3,661.75 51-040-00-Duty Disability Pensions 3,548.30 17,741.50 51-060-00- Surviving Spouse Pensions 31,372.32 156,861.60 51-100-00-Refund of Contributions 0.00 11,382.31 Total Pensions and Benefits 533,115.30 2,679,645.93 Administrative Professional Services 52-170-01 -Actuarial Services 0.00 3,260.00 52-170-03 -Accounting&Bookkeeping Services 1,385,00 8,295.00 52-170-05 -Legal Services 0.00 4,182.55 52-170-06-PSA/Court Reporter 1,510.00 7,505.00 2,895.00 23,242.55 Investment 52-190-01 -Investment Manager/Advisor Fees 0.00 750.00 52-195-02-Administrative Expense(IPOPIF) 1,071.41 6,602.57 52-195-03 -Investment Expense(IPOPIF) 1,598.16 6,805.52 52-195-04-Investment Manager Fees(IPOPIF) 2,097.16 5,261.13 4,766.73 19,419.22 Other Expense 52-290-25 -Conference/Seminar Fees 0.00 1,190.00 52-290-27-Travel Expense 604.48 604.48 604.48 1,794.48 Total Administrative 8,266.21 44,456.25 Total Expenses 541,381.51 2,724,102.18 See Accountants'Compilation Report 22 of 71 8-1 15 CA Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended May 31, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Augustyniak, Gabriel $ 19,944.18 4,108.81 0.00 0.00 24,052.99 Gasca, Robert Jr. 26,886.20 5,132.86 0.00 0.00 32,019.06 Anderson, Tara E. 211,436.52 7,032.22 0.00 0.00 218,468.74 Baker,Malcolm E. 220,728.49 5,073.10 0.00 0.00 225,801.59 Barker, Cody W. 3,879.58 4,774.31 64,101.60 0.00 72,755.49 Bock, Cynthia 151,459.08 5,212.15 0.00 0.00 156,671.23 Broussard, Robert D. 170,461.68 6,543.07 0.00 0.00 177,004.75 Budds,Brian J. 20,890.13 8,297.81 0.00 0.00 29,187.94 De La Paz, Hector 253,898.60 6,090.65 0.00 0.00 259,989.25 Dibble, Crystal 155,452.41 4,922.50 0.00 0.00 160,374.91 Dimeler, Daniel D. 159,755.12 5,192.77 0.00 0.00 164,947.89 Freeman, Janet 1. 231,534.03 5,231.97 0.00 0.00 236,766.00 Gewargis, Brandon L. 5,342.69 3,493.54 0.00 0.00 8,836.23 Hansen, Brian R. 122,928.77 5,439.25 0.00 0.00 128,368.02 Hansen, Meghan C. 139,386.25 5,460.52 0.00 0.00 144,846.77 Hawkins,DerekT. 149,724.83 5,132.88 0.00 0.00 154,857.71 Hill, Gregory R. 162,838.68 5,156.79 0.00 0.00 167,995.47 Kaiser, Chadd L. 148,333.72 4,951.07 0.00 0.00 153,284.79 Krozel,Ashley E. 145,927.46 5,301.97 0.00 0.00 151,229.43 Lowenberg,Kurt D. 232,651.44 5,246.35 0.00 0.00 237,897.79 Mills,Matthew C. 193,400.26 5,254.01 0.00 0.00 198,654.27 Nugent, Thomas P. 287,286.01 7,139.11 0.00 0.00 294,425.12 Olague, David 2,791.40 3,451.74 0.00 0.00 6,243.14 Rodriguez, Michael A. 245,910.40 7,384.80 0.00 0.00 253,295.20 Rossi, Marc D. 156,464.67 5,132.86 0.00 0.00 161,597.53 Shipman,Douglas S. 170,980.98 6,095.61 0.00 0.00 177,076.59 Spolar, Brian A. 236,398.68 7,285.70 0.00 0.00 243,684.38 Tirovolas, Hristos H. 13,959.81 4,144.19 0.00 0.00 18,104.00 Turano,Anthony R. 165,667.45 6,867.39 0.00 0.00 172,534.84 Verduzco, Jaime A. 163,016.22 5,425.93 0.00 0.00 168,442.15 Zuniga, Edwin 5,342.69 3,489.94 0.00 0.00 8,832.63 Carlson, Michael D. 126,760.01 5,192.34 3,533.64 0.00 135,485.99 Cholewa,Amy L. 78,733.81 4,951.07 0.00 0.00 83,684.88 Diaz,Maegan D. 24,019.93 4,109.87 0.00 0.00 28,129.80 Essig,Michael J. 92,031.92 4,911.43 0.00 0.00 96,943.35 Franzen, Taylor A. 53,684.09 4,911.43 0.00 0.00 58,595.52 Jigalov,Adrian G. 111,980.03 5,132.87 0.00 0.00 117,112.90 Kass, Ryan T. 88,778.64 4,962.14 0.00 0.00 93,740.78 See Accountants'Compilation Report 24 of 71 10-1 Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended May 31, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Khan,Masood A. 191,288.69 4,951.07 0.00 0.00 196,239.76 Kreis,Nicholas R. 36,497.53 4,338.45 0.00 0.00 40,835.98 Kroski, Timothy M. 32,261.35 5,132.87 0.00 0.00 37,394.22 Lamb, Kevin J. 86,262.73 5,132.88 0.00 0.00 91,395.61 Laiys, Chad K. 11,307.11 5,164.95 0.00 0.00 16,472.06 Lawyer,Robert J. 36,004.09 4,338.45 0.00 0.00 40,342.54 McMillon, Shannon T. 154,551.72 5,132.88 0.00 0.00 159,684.60 O'Neill, Collan W. 12,407.01 3,646.43 0.00 0.00 16,053.44 Officer,Jonathan D. 152,102.60 4,911.43 0.00 0.00 157,014.03 Rudnick, Joel A. 135,573.46 5,132.86 0.00 0.00 140,706.32 Rygiel,Andrew T. 64,631.15 4,836.68 0.00 0.00 69,467.83 Sarat, Eric M. 50,381.33 4,710.81 0.00 0.00 55,092.14 Sorisho, Oliver T. 0.00 634.16 0.00 0.00 634.16 Standish, Nicolas J. 15,035.23 4,146.63 0.00 0.00 19,181.86 Stephans, Drew M. 0.00 2,214.45 0.00 0.00 2,214.45 Tijerina,Brian A. 76,371.66 5,172.51 0.00 0.00 81,544.17 Valstyn, Ross B. 106,769.56 5,132.86 0.00 0.00 111,902.42 Wojs, Dawid 34,075.79 4,338.45 0.00 0.00 38,414.24 Zuk, Edyta W. 22,939.69 5,065.82 0.00 0.00 28,005.51 6,169,127.56 287,771.66 67,635.24 0.00 6,524,534.46 Inactive/Terminated Members Schwall, Gregory R. 264,279.04 751.03 0.00 0.00 265,030.07 Sjodin, Jacob A. 11,382.31 0.00 0.00 (11,382.31) 0.00 Totals 6,444,788.91 288,522.69 67,635.24 (11,382.31) 6,789,564.53 See Accountants'Compilation Report 25 of 71 10-2 Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended May 31, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Service Purchases 41-420-00 41-440-00 41-450-00 Prior Year Interest from Other Member Name- Type of Purchase Contributions Members Revenue Total Barker, Cody W. - Portability-Principal 2,598.94 0.00 0.00 2,598.94 Barker, Cody W. -Portability-Prior Fund Employee 51,703.18 0.00 0.00 51,703.18 Barker, Cody W. - Portability-Prior-Fund Employee 9,799.48 0.00 0.00 9,799.48 Barker, Cody W. - Portability -Prior Fund Employer 0.00 0.00 83,929.40 83,929.40 Carlson, Michael D. - Limited Time Transfer-Principal 2,705.97 0.00 0.00 2,705.97 Carlson, Michael D. -Limited Time Transfer- Interest 0.00 827.67 0.00 827.67 Totals 66,807.57 827.67 83,929.40 151,564.64 See Accountants'Compilation Report 26 of 71 10-3 v N O N M X O O O O O CO CO O CD V O m O O O LO LO N N N N r 0 OO64 N �N � N y 60- E91 691 64 691 R LL p Y t) 0V O O O O O O O O O O Q) � � O O O O O O O O O O L U d 69 � � � � 6q � bq � 6q an U d O O O O O O O O O O Q u O O O O O O O O O O J O O O O CO O O O O CO LL 69 4A 6q3 60, 6e) 69 64 613 6-1 60, Q N C d O O O O O O O O O O V OS O O O O O O O O O O O O O O O O O O O O QR EH fA 6q ffl EH 64 V3 f!> 613 613 7 a C L 0 O O O O O O O O O O u O O O O O O O O O O O1 m 6q 69- 6f3 64 6q Ef3 64 6q 6q I q = 7 N � � C LL G o C Q G ^' i W O O (D (1) co Q) 6) O O co LL E V V V LO LO co co co co co y d I lf) l() O O N N N N O r O d co Cl) co Cl) co N N N Efl fA fA EA Efl � C> }r � ar a. m o O O cMo cMo 0 0 a' o r" o6 od od � v v m m co U 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C� OA Lq O O LQ � L y •� O r-_: V V Cn Cn Cn O C) LO O O I.L E " Cn to C() V V co 64 ff3 m Cn CnIL �+ O u 4 lD OA 6) N N (D O C) (D CD CD U N �11 O C) N N (D O C) (D O O �y E N T V N N 6) O lD V (D (D O ^ Q I� C7 Ch (O (D M 6p, L6 M Cl) S ii EPr fA fA H} Ef} H} fA H} Ef} H} _G z O O O O O m w Y d L � () O N El O N O N OEl O El CDN CD 00 O O Q Y C CO m U 0 K O W � c0 N s z CL E m - � N mO N z Z o o (0 CO A >+ x N N 2 N m N N ui rn (U O_ CL > �.i >1 a E w' 70 m (0 (0 (0 (0 (0 N w Q 2 2 2 a 2 a m 2 00 2 (D m CD O O co T rn 00 00 co LO co 00 00 c � R — CD LL En O O O CD a Cl) LO C14 L V N N m v N O N � M X N N Cl) cv) O) O) Cl) Cl) 0) O O I- � Ln Ln r- I- V V LO Cl) N N M M 06 00 W 06 M 00 i y MM NN 00 (o co CO CO Cfl_ Cfl _ LO L Efl 64 N N _ _ V) 6) _ EA lb} Efl EA Ef; EA EA L4 LL p Y u 0V O O O O O O O O O O O O O O O O O O O O O O L O O O O O O O O O O O U �y e» 6s e» 69- e» 69, 6s 69), e» 60- e» C'1 p U m O o O O O O o O O O O Q u o o O O O O o O O O O J O O O O O O O O O O O LL 69 69 4A 60- 60, 60, 69 4A 66, 60, fA Q N C d C) O CD CD CD C) N N C) C) C)N V O O O O O O O O O O O >_ O O O O O O O (3i O O O QR ff3 69 4A 4f3 613 69 �T 't H) 613 69 7 C C L (D O O O O O O _ _ O O I— u O O O O O O O O O) r- O O O O O O I.C) In O O Cl) = y 69, 6% 6G, ffl E)- 691 � ^ fA Iq Cl) U) Efl EA LL G o C Q G ^' i U) CX) 00 (fl (o V V V V Cl) W S N•� 67 W � � CO CO V V CO y O M Cl) I� co CO V V N N O) LL E " cocO M M I-- P- M co �+ N d co co CO CO I� P- r r (O CO O d fl EA 6 fA O6 OJ O O Cb 00 I� SO � '+ E fA EA EA fA S., fA ({ EA } � u p dM 3 O) O) 1- � r r N N C) CD CD O 1.��111.111 0 co00O O CO CO CO CO co 00 N �y E C0 C0 O O O O O O N 0 j� Q CO CO CO CO L6 L CO CO P- r- CO Sr' ii H} U), ff} U> H} H} 613 GF) U> H} H} _G Z u O O O O O m w Y d N N L L L L L d L N 7 7 () D O El O D O El O N El N O Oul El � coIM LO N N O) In h d vi o co m o R m Y a) Z Z c��o > � � c LL U) u > o R � — c a a m - w 00 2 rn rn v co co O _T cc o Cl) a) a) rn CD E N O N N O O Cfl R r r r r r LL L I-- N V OJ (fl m v N O N � M X O O O V V M M OD 00 O O m VD W 01 � r- O O I- 1- O O co M O O N N O O N N (n (n 00 O O It It 0) O co O N N y 6s 69- fA fl A 60- E 6s 69- f C) C) Q) 0) � Efl Efl EA L4 0) p LL Y t) 0V O O O O O O O O O O O O O O O O O O O O O O L O O O O O O O O O O O V y 69, 6s fA fA fA 6c3 69 fA fA 6f3 6q C'1 p U d O O O O O O O O O O O Q u O O O O O O O O O O O J C O O O O O O O O O O O LL 69, 6s 4A 6f 693 6s 6s 4A 6-1 60, ffl Q N C 0) C) N N C) C) C) O CD C) I� 03 V O V V O O O O O O 6) O O O O O O O O M M d R 6s M 4f3 ff3 6s 6s 4A 4H I- t1 p E2 £H 6f3 6s fA C L 0) O O O O O O O O u O O O O O O O O O r- M f_ 1-4 C) C) CD C) C) CD C)= y C7) co (D fq 61) 69, Efl EA 6q 69- EF} 7 'a N N N � � C EA E{} fA 3 LL G o C Q G ^' i Vl.� Cl) N N C) C) Cl) co 00 00 N N W S N (O I� I� N N N OJ O C? 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N �11 � V V Cl) Cl) CO O 0) 0') (O (O �y E O 0) 0) 00 00 In In Cl) Cl) Cl) M OL Q Q v co (o Sri Uri Uri Uri (o Co 0� U' � Efl EA fA fA ff3 Efl EA fA fA fA ff3 � O Z CC� u m w Y L 7 7 7 n ) 7 ❑ O to ❑ O N ❑ o N ❑ O to ❑ O N M O 00) It N ti CO w 00 N M 01 = t0 M M tD Q a Q E > (3) E N z z a o j d a o o T R c U ~ aO m 0. i 3 0 w N N w Q a a 0- 0- 00 2 _ N_ V O lt7 N co E O O ~ LL (n O O V N I.- a) M 00 N M m N m v N O N � M X C) O CD co O.J C) O V V coO O m Cl) O Cl) V V O O OD 00 O O 00 to O L6 W CO O O N N O7 6i 64 00 co O O �t 't Cl) M � Efl EA Efl Ef} Efl EA R d p LL Y V 0V O O O Cl) Cl) O O O O O O O O O O O) O O O O O O L O O O M M O o O O O O U y 691 69 £f> tb 00 Ef> 69 £f> fA 60- Ef> C 0 p N N Efl Efl U d o 0 0 0 0 0 0 0 0 0 0 Q u 0 0 0 0 0 0 0 0 0 0 0 J C O O O O O O O U O O O LL 69 64 V} H) 60, 64 69 61> V) H) tf> Q N C to O O (D O O 0) 0) O O O O N V O O O O O O O O O O O O O O O O N N O O O O d R 64 64 fA 61> 6q 00 00 4f> 4f> 6q 69 p 3 6h 6h fA C L (V O O O M_ M Cl) co C:) CD CD CD u CD O O7 CR O O O O O O O V V CO M O O O O = y Efl 6% V> tp tp to 0) V> fA EA f!} U) ffl EA ffl 69 � � C LL G o C Q G ^' i Vl LO O LO 'IT V I- r- 00 00 V 'IT W S N O N 07 O C? Lq L y •� O M O M 0') 0') co Lo to 0) O) N I.L E y co64 M N N V V m 0') 00 co �+d tp 00 CO co to c0 N N to to O d Cd OJ r_� 1,,: m m m (6 0) '+ 16 3 ff3 EA EA Ef3 69 46 3 SA EA SO V 4.0 p Q Mm Ln O LO CD O Ln Ln V V CD to N IL r_ co O 00 CO to 6) 6) N N rr11 O O 1� NCl) N N N O O U W LO E O O O 0) 1l- r— V V --� i.i H} ff} U> H} H} 613 ff} U> H} H} _G Z v O O O O O m w Y L 7 7 n ) 7 d' U ❑ o ❑ O N ❑ 0 N ❑ 0 v7 ❑ 0 N ❑ 0 N ti M t0 co co O w N M tD a ' O N LL O �i d O E CO O R t0 � CA Z Z O CO L O O N N �, > CL d 7 E-p O N L w L > O L fl w Q cn a U cn cn U) w 00 ti v I- co 00 � 0) M 'E N CO 0 co R — 7 0� LL (n I� M (fl r- !2 L C) (fl ON M (fl U N N m v N O N � M X O O O O O O O O O m V V LO LO Ln O O O O V (7) 06 06 I- r O O O O �t It O O 64 ff} O O i O I- r- 00 � Efl EA Efl EA EA Efl L4 LL p Y u 0V O O O O O O O O O O O O O O O O O O O O O O L O O O O O O O O O O O V _j y (fl 64 fA fA fA 69, 69 fA fA 69- 69, an U 0 O O O O O O O O O O O Q u O O O O O O O O O O O J O O O O O O O O O O O LL 69 64 4A 69- 60, 60, 69 4A 4f3 fA (A Q N C d O O) (D O O O O (D O O O N V O O O O O O O O O O O N N O O O O O O O O O (D R 00 00 4A 6-1 613 69 69 4A 4H 613 69 p 3 6h 6h N C L 0 V V O O O O O O O O O u I- ti O O O O O O O O O N LL G o C Q G ^' i U) (D (fl V V I- r- (7) 0 O co V W S U) V I- CD CO V 'ITN N CO CO OJ Q •� O r� V V I� r-_: O O W 06 N N LL E " LO LO CO CO V V 0') O) LO CO co co O O V V CO O u 0 M Cl) co V V C0 C0 0) m co W O M d W 7 N N O) O N N (O (q M 0 O --i M co mO) O) O O 00O0 U N �11 ,I- V (0 (O In In 1- V 0) O) �y E M co O O (0 (0 O O Cl) co OL ^ Q I- (O (O I� I� (0 (O V V LO Sr' ii H} Ef3 ff} ff} H} H} Ef3 U) U> H} H} _G z u w Y O O O O O u m � L L L L L � d L 7 () D O N O N D CD El N D O N O N m El (O In In W) 00 twG w 00 M � Q CD E E z co cu o a) £ _ z L a) co m cD d d U U >� _ O N Q co CL Eli E a o 0 o W Q (n (n Cl) H D > 00 2 rn ti r` (fl 00 LO (o co cq co N O O O E O O N O O O R LL rn O IO LO LO W M O O 00 cc O M N N m v N O N � M X 00 O O O O CC) C7 N N O O V LO Cf) O O (0 CO I- I- O O 0 Cfl O O O C6 M N N d � O O O O � co 661) O O � � EA EA lb 3 Ef} EA 6<3 R LL p Y t) 0V O O O O O O O O O O O a) � � O O O O O O O O O O O L O O O O O O O O O O O U �y e» 6s e» 61) e» 6q 6s e» 6q e» 6q C'1 p U d O O O O O O O O O O O Q u O O O O O O O O O O O J C O O CO O O O O CO CO O O LL 69 69 41) 613 613 69 69 4A 6-3 60, ffl Q N C a) O LO LO O O O O O O O O a3 V O 0) 0) O O O O O O O O O M M O O O O O O O O Q R ff3 It 't 4fl ffl 64 64 fA 4H ffl 64 3 fA C L a) O O O O O O O O O O O u O O O O O O O O O O O d i O O O O O O O O O O O 7 � � C LL G o C Q G ^' i Vl V V V Cl) Cl) LO LO 7 co OJ W S N N CO CD O O C7 C`7 OJ OR O� O� y •� O N 00 co M Cl) CO CO O O N N I.L E i V) CO CO V) LO N N V V 0) 0) N a) co O O O O 00 00 00 00 CO CO IL O � 0) 0/1 Ef3 fA d-} A O m (D 0) 0) Cl) O cq r � LO co � O M C d LY O co 00 Cl) Cl) N N Lo LO O O C� O O co 00 O O V V O O W E OO O O N N co O co co 0 ^ Q U7 0 (S) C 6) CO CO V V L L Sr' i.i H} U), ff} U> H} H} Ef3 ff} U> H} H} _G Z u 3 ` O O O O O O Y m w d L L L L L L L 7 7 7 7 d, U C) In El C) N El O N ElC) N ElC) N El C) N M N N - LO O _ coo � Ln Q u.i L R z z U E d d t w m T (D rCD o �+ Q a`) C4 C U a a cm 0) a s N w Q >° >- 00 M N (O O 6) 6) 6) 6) co E O O O O O (fl R LL LO En O ON N O LO a) O N O L N m v N O N � X Lt 7 CD � C) O) O) C) CDU m CO N O N O O O (n O (C) O -4 N N O O LO O f!-} (D CO Efl W (ND CNO H) Efl d y (6 69- 64 ff} (!) 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(M (h r��1r11 O O o0 O OJ (O O co 6) 6) N N U W E LO 00 C) 6) V ON ((DD ((DD 0 j Q Od cl � M V L (O (O M Cl) Sr' i.i CD Ef3 H) H) Ef3 ff} U> Ef) Ef) _G Z 10 •• .. .. .. .. v R R R R R U 3 ` Y O O O O O m w d 7 d L 7 7 7 ElO El (DN ElO El CDN El C) El C) N N co � U M f-- 00 �Y U N N N LL N LL d d Q OL U ~ Oi J m co Z Z J 0 0 0 a) o m' a�i a) U (DU R N O_ :6 N d O m N > N C w Q 0 aU = a= C� in 00 o LO L") 0 rn ti co _T rn rn rn rn E o 0 (fl R 0 0 0 0 LL N 7 O co C:(n M N coO w M f� co V N f6 N Cn m v N O N � M X 6) 6) LO N N L(y LO m N I� r O O O y Efl 64 fA 6r) O R d p LL Y d O O O O O L U y sos U3, 61> 6p� C'1 p Q u o 0 0 0 0 J O O C) O O LL 64 64 4A V> EFT Q N C N V O O CD C) m O O O O 04 QR ff3 64 fA 4fl 3 N C L d O O O O LO u O O O O CO = y Efl ffl EA ffl m U) �T 'a N � � C LL G o C Q G ^' i N O O O') O') N W S N (q CO Cl? Q •N tU M co0) 0) co C O d � 6N9 � M yc3 � .2 p Q 0) m C) C) LCj \p W 00 d 0 N N U W E O O O O (O --� OL ^ a L6 L6 (O S"r ii H} U), ff} U> N\ _G z w Y O O O m cn U ❑ o ❑ o ti ) CD N N tG t0 7 to Cl) O U ❑� ❑� N a � cn R co c z z U_ co tU T U) T O m > CL a o w Q (n t 00 o o n _T rn rn E o 0 R LL ti to O N L O Cl) U N N x 00 CY) x Cl) \ (q F- 2 (D 40 0) (D 4) 0 C14 Cl) LL 69, LL 0 — _j k § \ \ � \ LL C LL < ^ 64 64 C C C\! C\! LL r_ in. 0 (D (L C� (D 0 C4 C4 0 CL ca E 0 u 0 c!) z 0 CD U) CN co U) a cyj 6 .Z 2 C\l (0 co cyi C4 co 64 co q co (0 ,,I: ,I: I- 'I 0)T C\l lc� Cl� lc� E Z CL E LU r a) co 0) 0) E co co 00 >1 m 0) E co m LL cn 0 0 co w z Buffalo Grove Police Pension Fund Quarterly Deduction Report All Bank Accounts March 1,2024-May 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 03/29/24 30496 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-03/24 12,965.94 20-220-00 Dental Insurance 1,171.24 ACH Amount(Direct Deposit) 14,137.18 03/29/24 30497 Internal Revenue Service 20-230-00 Internal Revenue Service 69,956.66 ACH Amount(Direct Deposit) 69,956.66 04/30/24 30503 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-04/25 12,965.94 20-220-00 Dental Insurance 1,171,24 ACH Amount(Direct Deposit) 14,137,18 04/30/24 30504 Internal Revenue Service 20-230-00 Internal Revenue Service 71,206.66 ACH Amount(Direct Deposit) 71,206.66 05/31/24 30509 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-05/24 12,965.94 20-220-00 Dental Insurance 1,171.24 ACH Amount(Direct Deposit) 14,137.18 05/31/24 30510 Internal Revenue Service 20-230-00 Internal Revenue Service 71,356.66 ACH Amount(Direct Deposit) 71,356.66 Total Payments 254,931.52 See Accountants'Compilation Report 44 of 71 12-1 Buffalo Grove Police Pension Fund Quarterly Transfer Report All Bank Accounts March 1,2024-May 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 03/28/24 30499 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 545,900.00 ACH Amount(Direct Deposit) 545,900.00 04/29/24 30506 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 58,000.00 ACH Amount(Direct Deposit) 58,000.00 05/30/24 30512 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 13,600.00 ACH Amount(Direct Deposit) 13,600.00 Total Payments 617,500.00 See Accountants'Compilation Report 45 of 71 13-1 Buffalo Grove Police Pension Fund Quarterly Disbursement Report All Bank Accounts March 1,2024-May 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 03/07/24 30493 Reimer Dobrovolny& Labardi, PC 52-170-05 C2045 F30083 Legal Service 1,268.30 ACH Amount(Direct Deposit) 1,268.30 03/11/24 30494 Lauterbach &Amen,LLP 52-170-03 487309 FYE23 1099's 260.00 ACH Amount(Direct Deposit) 260.00 03/18/24 30495 Lauterbach &Amen,LLP 52-170-03 487977 02/24 Accounting&Benefits 1,385.00 52-170-06 #87977 02/24 PSA 1,510.00 ACH Amount(Direct Deposit) 2,895,00 03/25/24 30498 Lauterbach &Amen,LLP 52-170-03 488745 FYE23 Workpapers 1,150.00 ACH Amount(Direct Deposit) 1,150.00 03/31/24 50339 IPOPIF 52-195-02 Administrative Expense 1,404.11 52-195-03 Investment Expense 614.19 52-195-04 Investment Manager Fees 2,849.24 Check Amount 4,867.54 04/08/24 30500 IPPFA 52-290-25 2024 Illinois Pension Conference Registration 0.00 52-290-25 Montiel,T#ZLNHP8RTKL5 595.00 52-290-25 Turano,T#7FNFWYJXJKW 595.00 ACH Amount(Direct Deposit) 1,190.00 04/11/24 30502 Reimer Dobrovolny&Labardi,PC 52-170-05 C2045 F30364 Legal Service 586.17 ACH Amount(Direct Deposit) 586.17 04/15/24 30501 Lauterbach &Amen,LLP 52-170-03 489073 03/24 Accounting&Benefits 1,385.00 52-170-06 #89073 03/24 PSA 1,510.00 ACH Amount(Direct Deposit) 2,895.00 04/26/24 50341 Wall Capital Group,Inc 52-190-01 Investment Manager/Advisor Fee 500.00 Check Amount 500.00 04/29/24 30505 Lauterbach &Amen,LLP 52-170-01 489495 FYE23 Actuarial 3,260.00 ACH Amount(Direct Deposit) 3,260.00 See Accountants'Compilation Report 46 of 71 14-1 Buffalo Grove Police Pension Fund Quarterly Disbursement Report All Bank Accounts March 1,2024-May 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 04/30/24 50340 IPOPIF 52-195-02 Administrative Expense 1,111.75 52-195-03 Investment Expense 930.86 52-195-04 Investment Manager Fees 110.70 Check Amount 2,153.31 05/06/24 30507 Lauterbach &Amen,LLP 52-170-03 490553 04/24 Accounting&Benefits 1,385.00 52-170-06 #90553 04/24 PSA 1,510.00 ACH Amount(Direct Deposit) 2,895.00 05/15/24 30508 Amador Montiel* 52-290-27 Reimburse 2024 IPPFA Spring Conference Expenses 0.00 52-290-27 Lodging 286.38 52-290-27 Meal 31.72 Check Amount 318.10 05/23/24 30511 Anthony Rocco Turano* Reimburse 20241PPFA Illinois Pension Conference 52-290-27 Expenses 0.00 52-290-27 Lodging 286.38 Check Amount 286.38 05/31/24 50342 IPOPIF 52-195-02 Administrative Expense 1,071.41 52-195-03 Investment Expense 1,598.16 52-195-04 Investment Manager Fees 2,097.16 Check Amount 4,766.73 Total Payments 29,291.53 See Accountants'Compilation Report 47 of 71 14-2 PT C§� cg"j 11............ 0 00 't CO mp@IU -�J- LO CN LO CN cm 't m m C:5 CN m m m cz� pVi Lz� c- r— tLo 4 m ua +� 4m m as — CN cn qq CO qN CO � LO Lr7 w Cl) m � �D o", CIO W CO 4o co W�) CN CN CN m m C'4 C) CN CN M C> C)Om '"t `tj^ 1.0. 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O CO Ufl LO o N L C ^ N E✓ N ' oc ❑ 000 ER } � Efl � EA EA U) } d' a C 'T O 0 O LO O O O N y a O 0 O (O � O O O O Lq V O o O O 00 � O r rn W � � O m co N N N d LO co CDN O LO CD00 O LO O (P O co N Cl) LO O ► C O Et? � EtT E Ef-? lr oc 2 co � N LO O U E» C 4 ❑ 0 LL ~ 0 ayi N V Z � O Z z O W d W W W d _ U W LL N E LL E J C O O p N a °' E (n J d C 4 a M U) W a C > J c (� W CD O > co c U (n m W a m U O (a m C� O M p �a is c c c (Dco U U C�7 m 3 m .� E E N m N O (� m o E m a) 6 O C p N E C E O m w c o >L (��a > > Q 7 o� L Q LL_ V LLLL Z L C FM U > H C Q C C LL Q ❑ C OLL p w LL 0 C6 0 w U m Z U co LL a d n & o % » 9\\k CD / / m c c 2 \ IL c Cl) 3 \ / f � \ 2 / Q Q / / k \ < \ Cl) � / 9 Cl) 0 c e (n / 5 / / _ \ � \ / \ \ / \ e LL 5 z \ m 3 / / £ E / _ \ LO 0 $ d K § \ / = E \ > ® E ? o k \ \ 0 / \\ / \ 2 LL & LO \ K « LL\ / g = g wwwuY~wwwu � u i,oi1 'I'll w Pension Investment Fun I!� wrw�a'ullg0; May 2024 Statement Supplement Asset Flows Period New Asset Transfers Cash Contributions Cash Withdrawals May 2024 Zero $42 million $50 million. CY 2024 Zero $216 million $231 million Expenses Paid Period Administrative Investment Investment Expenses Expenses Manager Fees May 2024 $115,863.01 $172,826.40 $226,788.00 CY 2024 $708,991.98 $730,947.79 $566,677.79 • Expenses are paid from the IPOPIF Pool and allocated proportionately by member value. • Investment expenses exclude investment manager fees. Investment Pool Details Date Units Value Unit Price 4/30/24 927,817,568.8093 10,132,317,668.76 10.920593 5/31/24 927,201,825.2002 10,411,059,430.00 11.228472 A spreadsheet with complete unit and expense detail history is linked on the A.Utp.c.V.e...3....1:. .2.d._Rep.2Uts...1p .. .... ....U.....�f..a.n .... .I�.� ... .f�.L�.a.to . � .� NAV and Receivable Calculations Under Development The IPOPIF Valuation n airnd..Cost Rule, AR-2022-01, stipulates that the Net Asset Value (NAV) for each Participating Police Pension Fund will include receivables representing proportionate amounts due from late-transferring pension funds for all Costs, IFA Loan Repayments, and interest. These calculations are under development. Resources • Monthly statement overview: ,�;,p,u�,Vc,;��r,,; tea;U;,eu�;o,e;nt Overview • Monthly financial reports: ,D:gttp.s.// rr��,v;:.P.U�o.li�.uf....E...p .14��,U�s/u�ua�,u��.�.�. :::.f.in,a,u�c,u�0..:.:u . / • Monthly and quarterly investment reports: 1 ttp.,- /;v�ru�ar�,Jpo�lif.oirgLrei�aoirts/lir�vestinn�eir�t-- • IPOPIF Board Meeting Calendar: Ij.tt.ps://wwwJpopiif.oir /ireneetliin� s/callendair/ Illinois Police Officers' Pension Investment Fund 309-280-6464 456 Fulton Street, Suite 402 on o.L up.�npof.,.�r.u�g Peoria, Illinois 61602 55 of 71 611.ul'N It m;f F'tO D NJAKJ`W1LJ.E,H l AS t 0.:463 +o66rrMl�re9^ilatwr,,fo-tir ��..;,:ist^� POLICE NEW HIRE—ACTIVE I'4"10E.M13ER INFORMATION SllEl±AT This is iNOT�M,n application for 1lemrmlmerOflp In order to complete the Active Member Information for the ,Annual' ID101 statement„please provide a copy of the member's application or complete the following info atioln: "ell .�Pension Fund Marne: w.. ` Mcmber's Name: . T lt �sf.Nl trm t7lr/Srl Street Addre City. State: Zip:jmm�_ Ilome Phone Number: _ Cell Phone'Number: ;Email.Address(Please Print Clearly).. 'ocial security IrGender- f 1 / l Date of 'ilrth. Date a�ff ��u�try Oatc): J f All members must be classified as Tier l or"tier IT. Tier 11 Member is anyone who: • Was hired on or after January 1, 20,11 with a. Police/Article:3 Pension fund, AND • Has NO Creditable Service prior to January 1, 2011 with a Police/Article 3 P'ension C'und All other members are classified as°"I'er 1.. Tier Classification (check one): "I""ier'I Name of Prior Fund: (With Tier I Creditable Service) Date of Hire(Entry Irate): / / Tennination Date: I am currently receiving a monthly retirement benefit from this pension, fund. l ier 11 I have NO,Creditable Service with a Police/Article 3 Pension Fund prior to January 1, 2011. I HAVE Creditable Service with a Police/Article 3 Pension Fund aut'ter,January 1, 2011. Name of Prior Fund: ( "ith Tier it Creditable S�ervice) Date of Hirc (Entry Date)............. P I Termination Date: I am currently receiving a monthly retirement benefit from this pension fund, By signing bet n above is accurate to the best of my knowledge.- Signature: Date:� __ ` Print Name. 01�Vj J�> ww „7r Phone Number 56 of 71 Certified Trustee Training Organization: I Buffalo Grove Police Pension Fund Year: 12024 AnthonyTurano Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 1PPFA Illinois Pension Conference 8 5/8-5/10 Yes 2 OMA Training X 3/18/2024 Yes 3 4 5 6 Cody Barker Hours Date Hours Required Type of Training Completed Completed Cert on File 1 16 2 OMA Training 3 FOIA Training 4 5 6 Tony Montiel Hours Date Hours Re uired Type of Training Completed Completed Cert on File 1 8 IPPFA Illinois Pension Conference 8 5/8-5/10 Yes 2 3 4 5 6 Jeff Feld Hours Date Hours Re uired Type of TrainingCompleted Completed Cert on File 1 8 2 3 4 5 6 Kenneth Fox Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 2 3 4 5 6 Page 1 of 1 57 of 71 2024 IPPFA Trustee Training Opportunities IPPFA ONLINE SEMINAR COURSE WHEN: Ongoing • Online 8 hr. seminar (Recorded from the 2023 MidAmerican Pension Conference) WHERE: IPPFA Website: yy.::li..l2.p ..::Virg/ ; ii. i / ir�.Il,iii ..- � sss./ COST: IPPFA MEMBER: $285.00/seminar IPPFA NON-MEMBER:$570.00/seminar This online seminar agenda includes: • School's in Session - How to Ace your Fund Administration • Retirement Healthcare Funding • Private vs. Public Pensions • Pension Funding Policy • Legal Updates and Recent Court Cases • Ask Your Attorney • Fiduciary Liability Insurance vs. Directors and Officers Insurance • Benefit Enhancements to Attract and Retain Public Safety Officers • Consolidation Update • The Wonderfully Weird World of Administrative Review -this online seminar satisfies 8 hours of the required continuing pension trustee training 58 of 71 16-hour Certified Trustee Programs* offered thromh IPPFA IIPIPFA ONLINE Certified Trustee Program COST: IPPFA MEMBER: $ 550.00 IPPFA NOWMEMBER: $1,100.00 Registration its oniline at the IIIPIPFA website, www.....ip 1! E :fin ... ...... ....PIU.S.21JOI It.[ .. 1.22.-:2 29. . ......................................... ..............a IPPFA In-Person Certified Trustee Program WHEN: April 2, 2024 - April 3, 2024 WHERE: NIU Outreach, Campus 1120 E. Diehl Rd., Room 266, Naperville, IL 60563 COST: IPPFA MEMBER: $500.00 IPPFA NON-MEMBER: $1,000.00 *01n December 18,, 2019, Governor J.B., Pritzker signed SB 1300, making it Public Act 101-0610. This act will consolidiate, all Article 3 and 4 pension fuind's investment assets. Under Public Act 101-0610, training requirements, have now been reduced from 32-hours to, 16-hours of new trustee training, however all': Pension trustees will still need 4-hours of mandatory consolidation transition tralininig. All Article, 3 & 4 Pension Trustees elected or appointed are required to complete the 16-hour trustee certification course within 18 months of election or appointment to the board. 59 of 71 R 0 10 M a rrksU Di'ive,Unco Ins h I ie,I L&Y'D69 Z lJ M11C,C'my REGISTRATION IS NOI OPEN Al-I I]HIS IME. 7he Nfidl(nerkin Fls,,rwon Clonfefence kv lhepe�te,:Vm3y to�complete"youl 8 hours Ofpension tm5tee tfatffin& Odude dyaamii-speakers,lt�fcvmaeive(.�khth(M wd nmoynetvvotking oppoP-tuldties. Fof-Ove/ Oyt-�x,.the WFA theve(y be5t t7ainhlgln elhh-'S.f7du"'fdl yf"5;ponSibflWs,S. updates,'r/1.1 5 COVETO'eVe,t Y/,aSpeCt Ofj.�ellSil tl-�c5tEe N- ,'aini i d At i. A.1-1. Pensioll o ce * The 2024 fAidAnqei isan F1,,.,gskjn Conference,will be field sr(he f',Iarrlott II IncoInshbe,Resort * Septc i aber 24--27 2024 * -r Ire f1PFA roorn raie,tarts at$189,00 pe rifight,pli,is k�axes and fees * Check: i 4 00 )rri,Check csuL 12 OiD prri * To make a Y oorri reservailon call'I(E1,00)228-9290 and mentlon IFIPFA Room Block (--j'o Itregristratim is not. open at Lhis time. Please check back Tuesda,f,SejXeniber 24,2024 Oane's L.ancflng Golf clul.) 10 Mai r�cqL DrNe L!i,ncol nshl re,0 L.60069 $130 per golfer,$500 per foursome 60 of 71 r ARTICLE 3 A , PENSION TRUSTEE CERTIFICATION All elected and appointed Article 3 (police) and Article 4 (firefighters) local pension board trustees are required to participate in state-mandated trustee certification training. WHAT 15 THE FIRST YEAR CERTIFICATION REQUIREMENT? The trustee certification training requirement for a first year trustee is at least 16 hours. REQUIREMENT?WHAT IS THE ANNUAL CERTIFICATION Annually, all trustees must complete a minimum of eight hours of continuing trustee education. WHERE CAN TRUSTEEIS RECEIVE THEIR TRAINING? j[hgJll1ui tw I u i 1 a ut ,. u« a es_ i ertifi More inforniationys availableat ImLoT r1silontriustlees. Trustee certification training is provided online and in accordance with all statutory requirements. If you have questions regarding pension trustee certification, please contact us by email at taenYlo, intt,!Gnmenclnnl raCul. HOW MUCH DOES THE TRAINING COST? $0. The Illinois Municipal League provides,this certification training at no charge. Really— it's free = no charge. WHAT ARE SOME TRUSTEE EDUCATION TOPICS? • Articles 3 and 4 Pension Disability Pension Overview • Duties and Ethical Obligations of a Pension Fund Fiduciary • Board Oversight of Cyber Risk: Before a Breach • Illinois Public Employee Disability Act and Public Safety Employee Benefits Act • Developments and Potential Changes in Federal and Illinois Labor and Employment Laves • Qualified Domestic relations Order • Pension Plan (Funding 101 • Pension Plan Assumptions 101' • Freedom of Information Act and Open Meetings Act • Cyber Security Best Practices • Managing Generational Differences and unconscious. Blias in the Workplace • Hove to Identify, Address and Prevent Sexual Harassment and Discrimination • Let Me Ask You a Question • Public Pension Fund Accounting Principles I RA 1 4*� EA "[°' ,NI,,I,,,I,fNC, I w.. 1° P .' `' in partnershipwith RLIN015 MUNICIPAL LEAGUI 500 Fnsn Copin l Avenue l P.O.Box 5180(Springfield,IL 62705.5180(pi1:21 7.525.12201 Fx:217.525.74381 im ikorrg 61 of 71 ARTICLE 3 AND ARTICLE 4 Pension Trustee (ertification All elected and appointed Article 3 (Police) and Article 4 (Firefighters) local pension board trustees are required to participate in state-mandated trustee certification training that consists of at least 16 hours in their first year as a trustee. In addition, trustees must complete a minimum of eight hours of continuing trustee education annually thereafter. The Illinois Municipal League provides this certification training at no charge to all trustees. 0111clk II Hire to II lii u a liir Il enslii iii tuirustee fair lii uii liii u This training is provided online and in accordance with statutory requirements. III° Iiisill Ili 'l"Illrus'tee Certiflcatlloii IF:::ac't' Sheet in I RA I partnership with A— ILLINOISMUNICIPAL LEAGUE EASTERN If you have questions regarding Article 3 or Article 4 pension trustee certification, please contact us by email at p. ,i0,J; .0infir,u_ V�,a„,es.( ,ii!1n)j,,.irg. 62 of 71 -------------------------- Volume 25,Issue 3, July 2024 Laal and LEgislative Update, Firefighter's Felony Conviction Results In This Issue... in Pension Forfeiture 1 Firefighter's Felony Conviction Trapp a City of Burbank Firefighters' Pension Results in Pension Forfeiture Fund, 2024 ILApp (1st) 231311 2 Firefighter Gets PSEBA Benefits Former firefighter sought judicial review of Retroactive to Initial Denial of decision by the pension board, which terminated Disability his pension benefits after he pleaded guilty in federal court to a work-related felony. The Plaintiff 3 Employment As Sheriff s Deputy in claimed the pension board did not have jurisdiction Florida Results in Disability to revoke or rescind his retirement pension awarded Termination almost five years earlier. 5 Preexisting Mental Health Issues Trapp, a 28-year veteran of the Burbank Fire Preclude Disability Benefits Department, initiated a sexual relationship with a teen fire cadet. The Fire Chief, who was also a 6 Firefighter Entitled to PSEBA trustee on the pension board, immediately Benefits Due to Disability from suspended Trapp once informed of Trapp's wholly Multiple Events inappropriate relationship. Trapp filed retirement pension benefits within the week. 8 Loss of Pension Results in Loss of While the underlying felony was being investigated Monthly QILDRO for Ex-Spouse by law enforcement,Trapp was awarded his regular retirement benefit. Trapp was charged federally for 9 Amendment to Municipal Code the felony interstate possession or receipt of child Protects Disabled Police Officers pornography in 2019 and pled guilty to the felony in September of 2020, about three years after 9 Suggested Agenda Items for October retirement. ©2024 REIMER DOBROVOLNY& LABARDI PC 1 63 of 71 Following a hearing, the pension board determined longer had the power to pay that money pursuant to Trapp's pension benefits should be rescinded or Section 4-138. revoked because his felony conviction was based on conduct "related to, arose out of, or was in This strong language from the Appellate Court should be recognized as establishing a duty on the connection with his employment as a firefighter pursuant to Section 4-138 of the Pension Code. pension board to act once a member is convicted of a work-related felony. Please contact RDL Plaintiff claimed two errors. First, he asserted the immediately if you have a possible felony pension board should have "appealed" its original forfeiture issue.-.*:- decision awarding pension benefits. As the pension board did not act within 35 days of the original Firefighter Gets PSEBA Benefits grant in 2017, Plaintiff claimed no "appeal" was Retroactive to Initial Denial of Disability filed and jurisdiction was therefore lost. The Appellate Court quickly dispatched this argument, Ceyer a City ofBerwyn, 2024ILApp (lst) 231538 stating the felony forfeiture of benefits is an Benno Ceyer was a firefighter who injured his knee entirely new and distinct matter from any prior during an emergency fire alarm in 2005. In 2008, award of retirement benefits. Plaintiff then he applied to the pension board for a line of duty asserted his second claim, insisting the pension disability. The pension board denied his board lost jurisdiction to address the later impact of application for line of duty disability benefits. the felony conviction because it did not "retain Finding the firefighter did not receive a fair and jurisdiction" when it first issued a decision and impartial hearing, the Circuit Court of Cook order granting Trapp his pension in 2017, knowing County vacated the pension board's decision and an investigation into Trapp's abhorrent behavior remanded the case to the pension board for a new was pending. The Appellate Court found this hearing. In 2015,the pension board awarded Ceyer argument meritless, requiring an absurd a line of duty disability retroactive to his removal construction of the law. The Court indicated that from payroll in 2008. under Plaintiff's theory, every grant of benefits would then require "retention of jurisdiction," an From the time of initial pension board denial in 2008, Ceyer had paid his own health insurance absurdity that was never intended by the premiums. He filed the instant lawsuit seeking legislature. reimbursement and continued payment for those The Appellate Court's analysis focused on Section premiums pursuant to the PSEBA. 4-13 8 of the Code, which provides, "None of the benefits provided under this Article shall be paid to The Appellate Court was presented with several issues. First,whether the claim for PSEBA benefits any person who is convicted of any felony relating was timely? Second, when entitlement to PSEBA to or arising out of or in connection with service as benefits commences? And finally,whether Ceyer's a firefighter." The Appellate Court then re- PSEBA benefits should have been reduced due to affirmed that, "it has long been held that a pension access to healthcare benefits from other sources? board " `has no powers beyond those given to it in the act creating it, and has neither the right nor the Reasoning the initial denial of Ceyer's disability in power to pay moneys to anyone not within the 2008 commenced the time within which to apply terms of the act fixing the conditions under which for PSEBA, the City first claimed Ceyer failed to a pension is payable.' " The Appellate Court then bring his claim for PSEBA benefits within the 5- asserted that because plaintiff was plainly ineligible year statute of limitations. The Appellate Court for a pension benefit under the terms of Section 4- rejected this claim finding the claim for PSEBA 138, the board was therefore required by statute to was not ripe until the pension board awarded line divest plaintiff of his pension award because it no of duty disability benefits in 2015. Under the City s reasoning, the time for application for PSEBA ©2024 REIMER DOBROVOLNY& LABARDI PC 2 64of71 would have expired prior to the pension board eligible for health insurance benefits from his decision to award disability benefits. Because company inasmuch as they did not provide a group Ceyer filed his claim within 5 years of the date of health care policy from which Ceyer opted out. As the pension board award, his claim for PSEBA a result, Ceyer was entitled to the full amount of benefits was timely. PSEBA benefits from the City from the date his initial disability was denied in 2008 through the Next, the Court grappled with the issue of when present. Ceyer became eligible for benefits. The City argued he did not become eligible until the pension Recall PSEBA benefits are administered through board awarded disability in 2015. Conversely, the the employer and not the pension fund. However, trial court had found him eligible as of the initial as was seen in this case, there is a significant date the pension board denied benefits in 2008. interplay between the resolution of a disability The PSEBA statute does not specify when a claim before the pension board and eligibility for firefghter's entitlement to PSEBA benefits begins. PSEBA from the employer.-:- Factually, Ceyer lost his eligibility for health insurance when he came off the City's payroll in Employment As Sheriff's Deputy in 2008. The Appellate Court agreed with the trial Florida Results in Disability Termination court that Ceyer was entitled to PSEBA as of the date the pension board initially denied his Marcano v. Ret. Bd. of Trustees of City of Harvey application in 2008. In so holding, the Court made Police Pension Bd., 2024 ILApp (1st) 230579-U clear it was limiting this holding to the specific facts of this case. The Court was particularly Marcano was a Harvey Police Department patrol swayed by the trial court finding in the pension case that Ceyer's initial hearing was less than neutral It officer who was shot while conducting a solo Terry noted that, had the initial pension board hearing stop. He sustained permanent hearing loss from the been non-biased, Ceyer would have been awarded shot but returned to duty. Shortly after, Marcano a disability in 2008. Because it was not, he was applied for and was awarded duty disability benefits. Marcano continued to work almost forced to engage in several years of protracted litigation to secure his benefit. The Appellate Court continuously in emergency response professions in found that under these facts where Ceyer was not Illinois or Florida and completed his bachelor's and provided a fair initial hearing, it is in keeping with master's degrees. the legislative intent of PSEBA to "continue" After completing his education Marcano applied to employer-sponsored health insurance as of the date work for the Hillsborough County Sheriffs Office the pension board initially denied disability in in Florida. In his application, Marcano attributed 2008. his departure from the Harvey Police Department Finally, the Appellate Court addressed the issue of to his hearing impairment and inability to tolerate whether Ceyer had access to health insurance the cold weather. The Sheriff's Office hired benefits "payable from any other source". Under Marcano, where he performed full, unrestricted the PSEBA statute, health insurance payable from duties despite his hearing loss. During his tenure at any other source shall operate to reduce the benefit the Sheriff's Office, Marcano sustained numerous payable under PSEBA. Typically,this is seen in the on-the-job injuries but recovered from them and context of a disabled firefighter becoming eligible continued to work. for Medicare. In this case however, Ceyer was the owner of a business who provided health insurance Around 2016, the Pension Board retained Dr. to two employees. Ceyer never received health Daniel G. Samo, to review Marcano's medical insurance benefits from his business. The records. Dr. Samo opined Marcano's medical Appellate Court held that "payable from any other records did not indicate he suffered from hearing source" does not require an individual to buy their loss, cold sensitivity, or other issues relating to his 1998 injury. Dr. Samo further opined Marcano was own health insurance. Rather, Ceyer was not ©2024 REIMER DOBROVOLNY& LABARDI PC 3 65 of 71 not disabled and could return to duty. Dr. Samo administrative review claim. The Circuit Court relied on the fact Marcano worked at the Sheriffs affirmed the pension board's decision to terminate Office for 8 years without restrictions. At initial disability benefits. hearing before the pension board,Marcano testified he worked at the Sheriffs Office. It was agreed the On appeal, the Estate argued the Pension Board's board would acquire Marcano's employment findings were against the manifest weight of the records from the Sheriffs Office and continue the evidence. In upholding the decision of the pension hearing. The pension board also passed a motion to board, the Appellate Court reasoned, "although it is suspend Marcano's disability payments on an undisputed that Marcano's on-duty injury in 1998 interim basis, subject to restoration if the pension caused him to suffer a permanent, partial loss of board concluded Marcano remained disabled. hearing in his right ear, the board's finding that Neither Marcano nor his counsel objected. Marcano had learned to accommodate that loss and could work competently as a full-time,unrestricted The Pension Board obtained Marcano's entire file police officer, was overwhelmingly supported by from the Sheriffs Office and forwarded it to Dr. the manifest weight of the evidence." The Samo to review. Dr. Samo opined he found nothing Appellate Court reasoned Marcano's employment in Marcano's records that precluded him from history following his disability proved his returning to full, unrestricted duty at the Harvey disability did not prevent him from performing full, Police Department. Dr. Samo noted Marcano did unrestricted duties at the Harvey Police not have any issues at the Sheriff's Office because Department. The Appellate Court further reasoned of his hearing loss and opined Marcano is not the Harvey Police Department was willing to disabled from full, unrestricted police duties accommodate Marcano's disability. because of hearing loss. Second, the Appellate Court reasoned there was no In response to Dr. Samo's report,Marcano obtained evidence to suggest Marcano suffered from a cold contrary opinions from four physicians. Marcano intolerance, and it is unlikely the Pension Board also submitted a one-page discussion from Dr. awarded Marcano a disability based on cold Hilary A. Marusak, Ph.D., concerning "Cold intolerance in 1998. The Estate also argued the allodynia and hyperalgesia(i.e., cold intolerance)." Pension Board violated Marcano's due process Dr. Marusak neither discussed Marcano's injuries rights when it deprived him of his disability nor opined whether he suffers from cold payments prior to concluding Marcano's hearing. intolerance. None of Marcano's five experts were The Appellate Court reasoned that argument was aware he worked at the Sheriff's Office for the past waived because Marcano failed to object to the decade. The pension board learned about Pension Board's motion to temporarily suspend his Marcano's experts after they completed their disability payments in 2016. reports, so it did not have an opportunity to provide his five experts with Marcano's recent employment Marcano illustrates two key points for return to records. duty cases. First, a disability benefit recipient may lose his or her benefit if he or she engaged in The Pension Board reconvened Marcano's hearing. conduct that shows they recovered from their The Harvey Chief of Police testified that if the disability. Second, if evidence shows the officer Pension Board determined Marcano recovered has recovered and the employer is willing to from his disability, Marcano would be rehired and accommodate any remaining disability, it may assigned a position compatible with whatever operate to terminate the disability pension accommodations he required. The Pension Board benefit.❖ voted to terminate Marcano's disability benefit. After Marcano filed his complaint for administrative review, he died from a COVID- related illness. His eligible survivors pursued the ©2024 REIMER DOBROVOLNY& LABARDI PC 4 66 of 71 Preexisting Mental Health Issues other doctors confirmed the diagnosis of substance Preclude Disability Benefits abuse disorder, including the pension board's independent medical examiner who opined Stanczyk a Retirement Bd. of the Policemen's Plaintiff's substance abuse disorder predated his Annuity and Benefit Fd. of the City of Chicago, appointment to the police department. Several 2024 ILApp (lst) 221870-U doctors found Plaintiff to be disabled as a result of his substance abuse disorder. Only one doctor Plaintiff was injured while on duty when he was opined Plaintiff suffered from mild traumatic brain involved in a collision during a vehicle pursuit, injury as a result of the accident, making him unfit resulting in a concussion and injuries to his lower for duty. back, neck, left shoulder, and left arm. Plaintiff submitted an application for disability benefits At the disability hearing, Plaintiff asserted he was approximately three(3)years after the accident. At disabled as a result of a traumatic head injury the time of the hearing, Plaintiff had successfully suffered during the accident and/or the substance recovered from back surgery and treated with abuse problem arising due to his use of pain numerous doctors related to his cognitive medication. The pension board denied Plaintiff's functions. application for disability benefits, finding his disability resulted from a mental defect he had at Prior to his appointment to the police department, the time he entered the police service. 40 ILCS 515- Plaintiff completed an appraisal of health history 157(e). Initially, the pension board found form indicating no history of concussions, head Plaintiff's testimony was not credible due to his injuries, nervousness, or excessive worry. pattern of misrepresentation and obfuscation of the Regarding past alcohol use, Plaintiff indicated facts in order to obtain disability benefits. Further, "none." Plaintiff also certified he did not engage in the pension board found there was no evidence willful misrepresentations, omissions, or Plaintiff was physically disabled. Instead, the falsifications on the form. credible evidence demonstrated his cognitive disfunction was due to a substance abuse disorder Regarding Plaintiff's back injury, his treating and/or anxiety disorder, which were present well physician released him with no restrictions. before his appointment to the police department. Concerning his cognitive issues, multiple treating physicians found no abnormalities supporting his The Circuit Court reversed the pension board's claims of vision problems, dizziness, or problems decision, fording Plaintiff was disabled as a result with mental processing, and released him to return of the concussion sustained during the accident and to duty. While receiving treatment for his cognitive there was no evidence the concussions he sustained injuries, Plaintiff disclosed he was treated for prior to his appointment resulted in his current anxiety since childhood, used alcohol, and disability. The Appellate Court revered the Circuit sustained five prior concussions dating back to Court and affirmed the pension board's decision, grade school. Plaintiff also admitted using illicit finding the pension board's conclusions were substances, but claimed he only did so after he neither contrary to the manifest weight of the started taking pain medications following the evidence nor clearly erroneous. accident. Plaintiff's claims related to substance abuse were impeached by his statements to a Specifically, the Appellate Court found substantial psychologist and psychiatrist who examined or evidence supporting the pension board's decision treated him for his cognitive issues. that Plaintiff was not disabled as a result of the accident. In this regard, no objective medical Before the disability hearing, Plaintiff sought evidence confirmed the symptoms Plaintiff was substance abuse treatment and was subsequently allegedly experiencing, and multiple doctors diagnosed with alcohol and substance abuse released him to return to work without limitation. disorders, as well as posttraumatic stress disorder from childhood and job-related trauma. Several ©2024 REIMER DOBROVOLNY& LABARDI PC 5 67 of 71 Further, the manifest weight of the evidence coverage provided by the Village ceased and supported the finding Plaintiff's inability to Mertes covered his insurance needs through his perform his police duties stemmed from his years- spouse's unrelated MetLife policy. After he was long history of substance abuse and anxiety awarded a line of duty disability, Mertes then predating his appointment as an officer and were applied for PSEBA coverage. Both the award of not caused from the concussion or pain medication PSEBA coverage and the responsibility of paying taken after the accident. In this regard, Plaintiff for the interim coverage were heard by the failed to sustain his burden to establish a link administrative hearing officer for the Village. between the traffic accident and any disability. The Appellate Court held the hearing officer did not Lastly,the Appellate Court found Plaintiff's failure clearly err in taking into consideration cumulative to be truthful and omission of information allowed injuries when determining the employee's the pension board to disregard his self-serving eligibility for benefits, the village's obligation to testimony. Accordingly, Plaintiff was not entitled pay the employee's health insurance premiums to either duty or ordinary disability benefits. attached when the employee was granted line-of- It is also important to note that unlike Articles 3 and duty disability pension benefits, and the employee 4 of the Pension Code,Article 5 at issue in this case did not forfeit his right to payment of health has a prohibition on receiving a disability benefit insurance premiums when he secured alternative based upon or caused by any mental or physical health insurance through his wife's health insurer. defect existing at the time the officer entered police The hearing officer determined Mertes had suffered service. ❖ a number of line of duty injuries, some of which were incurred when responding to what he believed Firefighter Entitled to PSEBA Benefits were emergencies. As the reader may recall, Due to Disability from Multiple Events PSEBA provides that full time law enforcement, Mertes a Vill. of Mt. Prospect, 2024 IL App (lst) correctional officers and firefighters killed or 221787 catastrophically injured in the line of duty shall have the entirety of their health insurance Can a first responder be eligible for PSEBA premiums paid by their public employer. Under coverage even if his or her disability arose from a Illinois law, a"catastrophic injury" is synonymous cumulation of injuries, and not a single, with an injury resulting in a line-of-duty disability catastrophic event? The First District Appellate pension under the Pension Code. Court declared Firefighter Mertes was eligible for While the Village argued that only two of Mertes's PSEBA coverage after a hearing officer concluded that it was sufficient for some, but not all, of injuries were incurred while responding to what Mertes's injuries to have occurred while responding could arguably be considered emergencies and neither ended his career, the Appellate Court to what he reasonably believed to be emergencies, disagreed. The inclusion of the term "reasonably so long as those injuries contributed to his ultimate disability. Further, the Appellate Court re-affirmed believed" allows for broad applicability to the the rule that PSEBA coverage starts on the effective many ways an emergency may arise during a first date of the applicant's line-of-duty disability and responder's employment. Where a first responder that the Village is ultimately responsible for suffers multiple injuries, one or more of which coverage costs in this case. occur during an emergency, those injuries will qualify him for benefits so long as they are a Mertes, a firefighter, had suffered a number of line contributing cause of his ultimate disability. They of duty injuries, some of which were incurred when do not need to be the sole cause. Moreover, the responding to what he believed were emergencies. number of injuries that occurred in nonemergency While his disability was pending, his insurance situations is not controlling. Rather,it is the degree ©2024 REIMER DOBROVOLNY& LABARDI PC 6 68 of 71 to which the injuries that did occur during claim it was litigating the underlying PSEBA emergencies contributed to Mertes's ultimate issues. The Appellate court stated, "To credit the disability. Village's interpretation of Section 10(a)(1) would create a perverse incentive for a public employer to Contrary to the Village's claim, Mertes was also deny all health insurance benefits pending an eligible for coverage from the date of his eligibility determination in the expectation that the catastrophic injury, i.e. the date determined by the catastrophically injured first responder would pension board when it found Mertes eligible for his obtain alternative benefits in the interim, which line of duty disability. would then extinguish the public employer's In this case, Mertes had to find his own medical obligation to provide any benefits under the Act." insurance while litigating the PSEBA claims. Is the Similarly flawed is the contention that the mere Village responsible to reimburse the medical availability of other health insurance (regardless of premiums paid by Mertes now that he has been entitlement, level of coverage, or cost) disqualifies found eligible for PSEBA? The obligation to pay a a catastrophically injured first responder receiving claimant's insurance premiums attaches at the time benefits under the Act. Under such a reading, the the claimant is deemed "catastrophically injured," availability of health insurance in the open which typically coincides with the grant of a line- marketplace or through the Affordable Care Act of-duty disability pension. Public policy supports would seemingly always eliminate the public a uniform date of attachment to account for cases employer's obligation under the Act. A public where a date of injury is not readily determinable, employer would then rarely, if ever,be obligated to such as Mertes' case as he suffered from the fulfill the requirements of the Act, a result the accumulation of several prior injuries or the aggravation of a preexisting injury or condition and legislature surely did not intend. not a readily determined single event. By securing alternative insurance when the Village stopped paying for his insurance, Mertes did not The Act is silent however, on the issue of re- forfeit his right to benefits under the Act. He in imbursement of coverage as presented in the essence sought "cover" and mitigated his damages Mertes'appeal. Who bears the financial burden for the catastrophically injured first responder's health pending a determination as to his eligibility for benefits under the Act. Mertes's decision to avail insurance premiums from the time he is determined himself of alternative insurance coverage through to be catastrophically injured and no longer able to his wife's employment was a reasonable effort to work until it is determined that he qualifies for limit the harm caused by the Village's decision to benefits under the Act? The text, structure, or stop paying for his health insurance. In order to put purpose of the Act does not support the notion that the Merteses in the same position that they would a catastrophically injured first responder must have been had the Village paid "the entire sacrifice insurance coverage for himself and his premium" from the date of Mertes's disability family while he awaits a determination on his determination, the Village must reimburse the eligibility for benefits under the Act. Quite the Merteses for the premiums they paid on the contrary, the Act "ensures a continuation of health MetLife policy.*.** coverage following the termination of the officer's employment." Calling the Village's proposed scheme — that the employee is solely responsible for payments and should not be reimbursed — an absurd result, the Appellate Court found the employee should be re- imbursed for the insurance coverage payments made when the Village ceased coverage under the ©2024 REIMER DOBROVOLNY& LABARDI PC 7 69 of 71 Loss of Pension Results in Loss of enforce the existing judgment. The Court found the Monthly QILDRO for Ex-Spouse requested relief contrary to the existing judgment which provided for a 50150 split of the member's In re Marriage of Pruente, 2024 IL App (Ist) retirement benefits. Rather, the ex-spouse sought 231161-U to calculate a new amount based on what the member could have received had his pension not William Pruente was a Chicago police officer been revoked. This would not reflect a 50150 whose retirement pension benefit was revoked by division of the pension benefit. The parties could the Fund in 2022 due to a duty related felony have elected to require payment of a specific conviction. Prior to his retirement,he divorced his monthly dollar amount in the QILDRO but instead wife. A judgment of dissolution of marriage was chose the percentage-based formula. Had the entered in 2013 incorporating a marital settlement parties wished a continued fixed payment, they agreement (MSA) providing for a 50150 split in Would have needed to elect a different formula in assets including Pruente's police pension benefit. the QILDRO. A QILDRO was entered providing the alternate payee was to receive 50% of the member's Because the ex-spouse sought to change the 50/50 retirement benefit. distribution, the Court found this to be a modification and not enforcement of the existing When the member retired in 2019, a calculation judgment. Because more than 30 days had passed order was entered distilling the 50% award to a since the judgment of dissolution had been entered, payment to the alternate payee of $1,721.07 per the Court did not have jurisdiction to consider such month. When the member's retirement benefit was a request. Conversely, the Court did retain revoked in 2022 as the result of his felony jurisdiction to modify the calculation order to conviction, the pension fund advised the parties conform to the judgment of dissolution. Therefore, they were only entitled to a lump-sum refund of entry of an amended calculation order effectuating pension contributions but would need an amended a 50150 split in the contribution refund due to the calculation order to effectuate such a division. member was appropriate. In response, the ex-spouse filed a petition to Pension Boards must tread carefully in enforce judgment seeking to force the member to administering QILDROs, being careful to strictly continue to pay the monthly amount she would adhere to the orders entered. Administration of have been entitled to under the calculation order QILDROs is a technically complex matter. Should had the member's pension not been revoked. At the your Board have any questions on how to properly same time, the member asked the court to enter a administer payments pursuant to a QILDRO, new calculation order to effectuate the 50% please do not hesitate to ask your RDL attorney.❖ division of the contribution refund thereby terminating the monthly QILDRO obligation. The issue in this appeal revolved around Amendment to Municipal Code Protects modification of judgments. By law, once 30 days Disabled Police Officers have elapsed since entry of a final judgment, the trial court loses jurisdiction over the case. This Senate Bill means the judgment cannot be modified after that time. However, a court retains jurisdiction to Both chambers of the Illinois Legislature have enforce its judgment even after 30 days from the passed Senate Bill 2918 designed to protect the jobs date of entry. of disabled police officers. Mirroring a similar Pension Code provision applicable to Article 4 The Court then turned to the issue of whether the firefighter participants, this new law provides, "A ex-spouse's petition to require continued monthly Physical or mental disability that constitutes, in payments constitutes a modification or seeks to whole or in part, the basis of an application for ©2024 REIMER DOBROVOLNY& LABARDI PC 8 70 of 71 benefits under Article 3 of the Illinois Pension was sent to his desk for signature on June 21, 2024. Code may not be used, in whole or in part, as a Under Illinois law, the Governor has 60 days to act cause for a municipality to discharge a police on the Bill. If he does nothing within 60 days, the officer." In short, under the new law a police Bill automatically becomes law. •:- officer cannot be discharged due to any disability claimed for benefits under the Pension Code. Suggested Agenda Items for October (or 4th The new law also deals with re-instatement of uarter police officers from disability. Under the Pension • Adoption of recommended tax levy from Code, disabled police officers under age 50 are required to be evaluated on an annual basis to actuarial valuation and forward request to determine whether they remain disabled. In the Municipality. event the Pension Board finds the disabled officer can return to service, it certifies to the police chief • Adoption of municipal compliance report the officer is no longer disabled. With this new and forward to Municipality. amendment, when the police chief receives that certification from the Pension Board,the chief must • Schedule next calendar year quarterly order immediate reinstatement to active service at meeting dates/times. the same rank held by the officer at the time they were placed on disability. Previously,the returning • Deadline for filing independent audit officer was not guaranteed a return to service after report with DOI. being removed from the disability rolls. While both legislative chambers have passed • Deadline for filing of DOI annual report. Senate Bill 2918, at the time of this writing it has (October 315t) yet to be signed into law by Governor Pritzker. It REIMER DOBROVOLNY & LABARDI PC NEWS • May 3,2024,RDL partner Brian LaBardi presented at the IPFA spring pension seminar in Addison. • May 7-10, 2024, RDL attorneys attended and presented at the IPPFA Illinois Pension Conference in Galena. • June 3-4, 2024, RDL managing partner Rick Reimer presented at the IPPFA PTSD & Wellness Retreat in Lake Geneva. • September 24-27,2024,RDL attorneys will attend and present at the IPPFA Mid-American Pension Conference in Lincolnshire. • November 1,2024,RDL partner Brian LaBardi will present at the IPFA fall conference in Addison. Legal and Legislative Update Volume 25, Issue 3,July 2024 This publication constitutes advertising material. Information contained herein should not be considered legal advice. Legal and Legislative Update is published periodically. 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