Loading...
2024-04-29 - Firefighter Pension Board - Agenda Packet NOTICE OF A REGULAR MEETING OF THE BUFFALO GROVE FIREFIGHTERS' PENSION FUND BOARD OF TRUSTEES The Buffalo Grove Firefighters' Pension Fund Board of Trustees will conduct a regular meeting on Monday,April 29, 2024 at 8:30 a.m. in Village Hall located at 50 Raupp Boulevard, Buffalo Grove, Illinois 60089, for the purposes set forth in the following agenda: AGENDA 1. Call to Order 2. Roll Call 3. Approval of Remote Attendance and Full Participation by Certain Trustees(if any) 4. Public Comment 5. Approval of Meeting Minutes a.) January 29,2024 Regular Meeting b.) Review/Approval—Remote Open Meeting Recordings Destruction 6. Financial/Investment Reports a.) Monthly Financial Reports from Lauterbach&Amen(December 2023,January,February and March 2024) b.) Presentation and Approval of Bills c.) Additional Bills,if any d.) Review—Cash Balances of Local Accounts i. BMO Bank Statement and Current Balance Status ii. Schwab Statement,Current Balance Status and Quarterly Report—Sawyer Falduto e.) Review/Approval—FPIF Statements of Results(January, February and March 2024) £) Review/Approval—FPIF Monthly Investment Summaries (January, February and March 2024) 7. Communications and Reports a.) Affidavits of Continued Eligibility b.) Statements of Economic Interest 8. Applications for Membership/Withdrawals from Fund/Service Purchase a.) Reciprocity Update—Landon Hopp b.) Military Purchase—Lawrence Kane 9. Applications for Retirement/Disability Benefits/QILDROs a.) Status of Dorsey QILDRO b.) Status of Gatto QILDRO c.) Status of Pound QILDRO d.) Status of William Simmons Disability Application 10. Old Business a.) FPIF Auditing Process 11. New Business a.) Review Preliminary Actuarial Valuation b.) Review/Approve—IDOI Annual Statement c.) Certify Board Election Results—Active Member Position d.) Appoint FOIA/OMA Officer and DOI Security Administrator 12. Attorney's Report—Ottosen a.) Legal Insights(Second Quarter 2024) b.) Board Insights(April 2024) c.) Client Alert(April 2024) d.) NIAFPD Conference Presentation"FPIF:Updates on Consolidation and Operations"(February 2024) e.) DOI Siren on Use of Money Market Funds(February 2024) 13. Trustee Training Updates a.) Approval of Trustee Training Registration Fees and Reimbursable Expenses b.) Acknowledgement of Training Time from Meeting c.) Certification of Trustee Training Hours 14. Closed Session,if needed 15. Adjournment 1 of 217 MINUTES OF A REGULAR MEETING OF THE BUFFALO GROVE FIREFIGHTERS' PENSION FUND BOARD OF TRUSTEES JANUARY 29, 2024 A regular meeting of the Buffalo Grove Firefighters'Pension Fund Board of Trustees was held on Monday, January 29, 2024 at 8:30 a.m. in the Buffalo Grove Village Hall located at 50 Raupp Boulevard, Buffalo Grove,Illinois 60089,pursuant to notice. CALL TO ORDER: Secretary Josh Himmelspach called the meeting to order at 8:31 a.m. ROLL CALL: PRESENT: Trustees Josh Himmelspach, Thomas Gough, Larry Stanley and Chris Black ABSENT: Trustee Dan Pasquarella ALSO PRESENT: Attorney Carolyn Clifford, Ottosen; Ed Lavin, Sawyer Falduto Asset Management, LLC (SFAM); Denise Bocek, Village of Buffalo Grove; Molly Barker, Lauterbach&Amen, LLP (L&A); Chief Mike Baker, Buffalo Grove Fire Department APPROVAL OF REMOTE ATTENDANCE AND FULL PARTICIPATION BY CERTAIN TRUSTEES (IF ANY): The Board noted that there were no Trustees attending remotely. PUBLIC COMMENT: There was no public comment. APPROVAL OF MEETING MINUTES: October 30, 2023 Regular Meeting: The Board reviewed the October 30,2023 regular meeting minutes.A motion was made by Trustee Stanley and seconded by Trustee Gough to approve the October 30, 2023 regular meeting minutes as written. Motion carried unanimously by voice vote. Semi-Annual Review of Closed Session Meeting Minutes: The Board discussed the closed session meeting minutes. A motion was made by Trustee Stanley and seconded by Trustee Gough to not release the closed session meeting minutes at this time as the need for confidentiality still exists. Motion carried unanimously by voice vote. Review/Approval—Remote Open Meeting Recordings Destruction: The Board reviewed the remote open meeting recordings log and determined that there were no eligible recordings to destroy at this time. FINANCIALANVESTMENT REPORTS: Monthly Financial Reports from Lauterbach & Amen (October, November and December 2023): The Board reviewed the Monthly Financial Report for the ten- month period ending October 31, 2023 prepared by L&A. As of October 31, 2023,the net position held in trust for pension benefits is $72,403,338.16 for a change in position of $179,872.35. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal, Quarterly Deduction Report and Quarterly Transfer Report. The Board also reviewed the Monthly Financial Report for the eleven-month period ending November 30, 2023 prepared by L&A. As of November 30, 2023, the net position held in trust for pension benefits is $77,565,698.72 for a change in position of S5,342,232.91. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal, Quarterly Deduction Report and Quarterly Transfer Report. A motion was made by Trustee Stanley and seconded by Trustee Gough to accept the Monthly Financial Reports as presented. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella 2 of 217 Buffalo Grove Firefighters' Pension Fund Meeting Minutes—January 29, 2024 Page 2 of 5 Presentation and Approval of Bills: The Board reviewed the Quarterly Disbursement Reports for the period August 1,2023 through November 30,2023 for total disbursements of$35,537.63.A motion was made by Trustee Stanley and seconded by Trustee Black to approve the disbursements shown on the Quarterly Disbursement Reports in the amount of$35,537.63. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella Additional Bills, if any: There were no additional bills presented for approval. Review— Cash Balances of Local Accounts—BMO Harris Bank Statement and Current Balance Status: The Board reviewed the current balance of the BMO Bank operating account and discussed upcoming cash needs. Schwab Statement, Current Balance Status and Quarterly Report—Sawyer Falduto: Mr. Lavin presented the Investment Performance Report for the period ending December 31, 2023. As of December 31, 2023, the ending market value held in the Schwab money market account is $476,701. A motion was made by Trustee Gough and seconded by Trustee Stanley to accept the Sawyer Falduto Quarterly Report as presented. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella Review/Approval—FPIF Monthly Investments Summaries (August, September, October, November, and December 2023): The Board was provided with the FPIF Monthly Investments Summaries for the periods August 30,2023, September 30, 2023, October 31,2023,November 30, 2023 and December 31,2023. As of December 31, 2023, the one-month total net return is 4.8%vs. the FPIF policy benchmark of 4.6% and the year-to-date total net return is 15.5% vs the FPIF policy benchmark of 15.3% for an ending market value of $8,410,260,043. The current asset allocation is as follows: Equity at 66.7%, Fixed Income at 27.8%, Real Estate at 4.7%, Cash at 0.8% and Transition and Member Funds at 0.0%. Review/Approval — FPIF Statements of Results (October, November and December 2023): The Board reviewed the FPIF Statements of Results for the periods October 31, 2023, November 30, 2023 and December 31, 2023. As of December 31, 2023, the Fund's ending Net Asset Value (NAV) in FPIF is $80,417,929.32 which is 0.96%ownership in FPIF. The year-to-date net return of the Fund's total assets is 15.38% and the one-month net return for December 2023 is 4.8%. A motion was made by Trustee Gough and seconded by Trustee Black to accept the to accept the FPIF Monthly Investment Summaries and Statements of Results as presented. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella COMMUNICATIONS AND REPORTS:Affidavits of Continued Eligibility: The Board noted that L&A mailed Affidavits of Continued Eligibility to all pensioners in December with a due date of December 31, 2023. To date,six affidavits remain outstanding.L&A will mail second request affidavits to the outstanding pensioners and status updates will be provided to the Board as they become available. Statements of Economic Interest: The Board noted that the List of Filers must be submitted to the County by the Village by February 1, 2024. Statements of Economic Interest will be sent to all registered filers who will need to respond by the deadline of May 1,2024. 3of217 Buffalo Grove Firefighters' Pension Fund Meeting Minutes—January 29, 2024 Page 3 of 5 APPLICATIONS FOR MEMBERSHIP/WITHDRAWALS FROM FUND: Reciprocity Update — Landon Hopp: The Board noted that Landon Hopp has elected to move forward with his transfer of creditable service under reciprocity, but no payment has been received to date. Further discussion will be held at the next regular meeting. APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Status of Dorsey QILDRO: Attorney Clifford apprised the Board that there are no updates on the status of the Dorsey QILDRO. Updates will be provided to the Board as they become available. Status of Gatto QILDRO:Attorney Clifford apprised the Board of the current status of the QILDRO on file for Gatto. Further discussion will be held at the next regular meeting. Review and Possible Action on Pearson QILDRO: The Board noted the QILDRO Order, Consent to Issuance and$50 processing fee for Pearson have been received and approved by the Board Attorney with payments commencing with the January payroll cycle. A motion was made by Trustee Stanley and seconded by Trustee Black to approve payment to the alternate payee as discussed. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella Simmons Disability Application — IME Physician Selection: The Board noted that William Simmons submitted an application for a non-duty disability benefit. A motion was made by Trustee Stanley and seconded by Trustee Gough to authorize Attorney Clifford to schedule the annual independent medical examinations through INSPE. Motion carried by roll call vote. Further discussion will be held at the next regular meeting. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella OLD BUSINESS:FPIFAuditing Process: The Board noted that the compliance audit being conducted by KEB on behalf of the Firefighters' Pension Investment Fund is in process. Further discussion will be held at the next regular meeting. Fiduciary Liability Insurance Renewal (Gallagher): The Board reviewed the fiduciary liability insurance renewal provided by Arthur J. Gallagher Risk Management Services Inc (CO) through Ullico Casualty Group,LLC and noted that a representative from Arthur J. Gallagher Risk Management Services Inc (CO) will be invited to attend the August 19, 2024 regular meeting to review the policy with the Board. NEW BUSINESS: Approve Annual Cost of Living Adjustments for Pensioners: The Board reviewed the 2024 Cost of Living Adjustments calculated by L&A. A motion was made by Trustee Himmelspach and seconded by Trustee Black to approve the 2024 Cost of Living Adjustments as required by statute and calculated by L&A. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella Review Trustee Term Expirations and Election Procedures: The Board noted that the active member term currently held by Trustee Pasquarella is expiring in April 2024. Trustee Pasquarella wishes to remain on the Board if nominated. L&A will conduct an election on behalf of the Pension Fund for one of the two active member Trustee positions. 4 of 217 Buffalo Grove Firefighters' Pension Fund Meeting Minutes—January 29, 2024 Page 4 of 5 The Board also noted that Chris Black was appointed to the Buffalo Grove Firefighters' Pension Fund Board of Trustees by the Village President of Buffalo Grove effective November 6, 2023. Attorney Clifford and Mr. Lavin left the meeting at 9:22 a.m. Ottosen DiNolfo Engagement Letter for 2024-2025: The Board reviewed the Ottosen DiNolfo engagement letter. A motion was made by Trustee Gough and seconded by Trustee Stanley to request a detailed list of services performed with each monthly invoice moving forward from Ottosen DiNolfo and that all invoices are sent to the entire Board. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella Attorney Clifford and Mr. Lavin returned to the meeting at 9:40 a.m. A motion was made by Trustee Stanley and seconded by Trustee Gough to engage Ottosen DiNolfo for legal services in the annual amounts as noted in the engagement letter provided for the year ended December 31, 2024. Motion carried by roll call vote. AYES: Trustees Himmelspach, Gough, Stanley and Black NAYS: None ABSENT: Trustee Pasquarella ATTORNEY'S REPORT—OTTOSEN:Legal Insights First Quarter 2024 (New Case Law): The Board was provided the First Quarter 2024 Pension Insights(New Case Law)prepared by Ottosen DiNolfo,which Attorney Clifford reviewed with the Board, along with the following additional training materials: Board Insights January 2024 (Pension Trustee Training Requirements Q&A): The Board was provided the January 2024 Board Insights (Pension Trustee Training Requirements Q&A)prepared by Ottosen DiNolfo, which Attorney Clifford reviewed with the Board. IAFPD Fire Call Pension Pointers— "Federal Court Weighs in on Whether Delayed Disability Hearing Process Violates an Applicant's Due Process" (Fall 2023): The Board was provided the IAFPD Fire Call Pension Pointers ("Federal Court Weighs in on Whether Delayed Disability Hearing Process Violates an Applicant's Due Process")presentation prepared by Ottosen DiNolfo. Crain's— Illinois'Top Court Upholds Police and Firefighter Pension Fund Consolidation"(January 19, 2024):The Board was provided Crain's article("Illinois' Top Court Upholds Police and Firefighter Pension Fund Consolidation") from January 19,2024. Review of Fund's Information Sheet: Attorney Clifford reviewed the Fund's Information Sheet with the Board. DOI Biennial Report 2023—Information on Fund: The Board was provided the 2023 DOI Biennial Report for the Buffalo Grove Firefighters' Pension Fund. TRUSTEE TRAINING UPDATES: Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee registration fees or reimbursable expenses presented for approval. Acknowledgement of Training Time from Meeting: The Board acknowledged 30 minutes of Trustee Training from the January 29, 2024 regular meeting. 5of217 Buffalo Grove Firefighters' Pension Fund Meeting Minutes—January 29, 2024 Page 5 of 5 Certification of Trustee Training Hours: The Board discussed certifying Trustee Training hours. Further discussion will be held at the next regular meeting. CLOSED SESSION,IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Stanley and seconded by Trustee Himmelspach to adjourn the meeting at 9:55 a.m. Motion carried unanimously by voice vote. The next regular meeting is scheduled for April 29, 2024 at 8:30 a.m. Board Secretary Minutes approved by the Board of Trustees on Minutes prepared by Molly Barker, Professional Services Administrator, Lauterbach &Amen, LLP 6of217 r.............................................................. ....................................................... ........................... 0 0 t V tko m m m m m m m m m M 0 cou W m (AN 0 0 0 0 H .................. .................. ............................................... ........................ ...... L6 bO 0 LM -C *0• :$ 0 o M v v r_ w (P m I= a 0 U. 4w 0 0 E 0 &. E 0' .2 00 H r-I rq N N N N N M "a N N rq N rq N N N N 0 0 0 0 0 0 0 0 Q,) N N N',, N N N N N N "-- ram Z3 ar 0 m 0 00 fn V) H r-I N N N en c V) 0 rl T-1 > ................... ................... .................. ................. .................. 0 LL 4w 0 (U m > > M I —M E 4W 0 r- m 4w V) *0 r-i rl r-i H r-i N a 0 eq rq rq N rq N rq N m 0 0 0 0 0 0 0 0 0 0 N N N N N N r�,4 N NON M 0 co M m Ln 0 M Ln 4w CL m co N V) co E v 0 0 H 0 0 0 0 0 ................... .................. ................. .................... ................... 0 4-# m 0 tw .s 4-# w w N N 04 N N N N 0 0 0 0 0 N oo Ln H cA rn T-1 04 N rq m N Ln VH N...... .....0 0..........H 0..........0..........0 0 0 ............................................... ......... ......... ......... ......... ........ ......... ......... ......... Buffalo Grove Firefighters' Pension Fund Monthly Financial Report For the Month Ended December 31, 2023 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 8 of 217 Buffalo Grove Firefighters' 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 Cash& Investments - Pie Chart.............................................................................................. 3-1 CashAnalysis Report.............................................................................................................. 4-1 Cash Analysis Summary- Graph............................................................................................ 5-1 RevenueReport....................................................................................................................... 6-1 Expenses - Bar Chart............................................................................................................... 7-1 ExpenseReport........................................................................................................................ 8-1 Member Contribution Report.................................................................................................. 9-1 PayrollBatch Report............................................................................................................... 10-1 Quarterly Disbursement Report............................................................................................... 11-1 Quarterly Deduction Report.................................................................................................... 12-1 Quarterly Transfer Report........................................................................................................ 13-1 9of217 Accountants' Compilation Report 10 of 217 N.�IVVER,A,1r)A[Y - tlAPERv HJLE,119JJNO8s fi(g?O L,ultffbach & Atn,en� L11-T, . ................. January 31, 2024 Buffalo Grove Firefighters' Pension Fund 1051 Highland Grove Drive Buffalo Grove, IL 60089 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Buffalo Grove Firefighters' Pension Fund which comprise the statement of net position - modified cash basis as of December 31, 2023 and the related statement of changes in net position - modified cash basis for the twelve 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 11 of 217 Financial Statements 12 of 217 Buffalo Grove Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of December 31, 2023 Assets Cash and Cash Equivalents 10,135.30 Investments at Fair Market Value Money Market Mutual Funds 476,700.99 Pooled Investments 80,417,929.32 Total Cash and Investments 80,904,765.61 Due from Municipality 166,417.00 Total Assets 81,071,182.61 Liabilities Expenses Due/Unpaid 1,645.00 Total Liabilities 1,645.00 Net Position Held in Trust for Pension Benefits 81,069,537.61 See Accountants'Compilation Report 13of217 2-1 Buffalo Grove Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Twelve Months Ended December 31, 2023 Additions Contributions -Municipal 2,186,867.33 Contributions -Members 598,066.52 Total Contributions 2,784,933.85 Investment Income Interest and Dividends Earned 1,342,037.64 Net Change in Fair Value 9,596,920.98 Total Investment Income 10,938,958.62 Less Investment Expense (87,641.60) Net Investment Income 10,851,317.02 Total Additions 13,636,250.87 Deductions Administration 50,045.50 Pension Benefits and Refunds Pension Benefits 4,740,133.57 Refunds 0.00 Total Deductions 4,790,179.07 Change in Position 8,846,071.80 Net Position Held in Trust for Pension Benefits Beginning of Year 72,223,465.81 End of Period 81,069,537.61 See Accountants'Compilation Report 14 of 217 2-2 Other Supplementary Information 15of217 N O y V c 17 PTO 31 12 M CT Vr' h If) ' W N O N M O O M N CZ) N c NO N OC OC O Rrd I\ M 00 l0 M M l� OC ' M OC L N O O AO l0 l 00 N Ir M 00 OC OC 00 O h 00 l� M O an M M M M m O OC Vl In N Cl a O oc O N M N O O C O O '7t C, M 0G a N ^' N N M �I N C� � O •"m In " ^ 00 00 CN M ' �c C1 O V1 M N M l� OC h 7T O 7 M N 7T 00 N O kn �y M � � C � � OC N V'l. V'a. O Vr o0 Va � •� �I •^y _ � �O O M h P-e �I V1 cn M 7t I- r1l cliN OC O :G cq V1 V) N N Vr OC O O O 01 O� R h a, M CO 'IT N \O �I M In v1 O N N l� Vr M 00 00 O ' O N N wa O ^ ^ ^ M N M M N N �n M O1 N o0 CY N �I N 00 OC O I'D N ON 00 It N N V'1 OC M 7 O QO C QO C •yy � cz F� o R� cli o U 2 urE- N O W el r r....... ill �iiiiiiiiiiiiii • rrrr„rrrrrrr Coe, Ig ox rr � ,%irrvr rrrr, rrr �� Grrrrrrr ' ° rrr.! " v r ON rrrrr ,y � rrr:' riir q ill �uuu� G7 u rrrrrrrrr: t " Im �rrrrri qr if rrrr rr� rr, ar C5 err eel rrrr. CPI cn f" Buffalo Grove Firefighters' Pension Fund Revenue Report as of December 31, 2023 Received Received this Month this Year Contributions Contributions -Municipal 41-210-00-Current Tax 171,557.42 2,173,366.93 41-220-00-All Previous Years'Taxes 0.00 13,500.40 171,557.42 2,186,867.33 Contributions-Members 41-410-00-Contributions-Current Year 46,087.59 598,066.52 46,087.59 598,066.52 Total Contributions 217,645.01 2,784,933.85 Investment Income Interest and Dividends 43-102-09-BMO Bank-Checking 115.24 903.75 43-252-04- Schwab-Fixed Income 2,977.76 23,421.48 43-800-01 -IFPIF Consolidated Pool Dividend 54,257.10 520,220.89 43-800-02-IFPIF Consolidated Pool Interest 81,972.61 796,281.07 43-800-03 -IFPIF Contribution Interest 18.03 1,201.05 139,340.74 1,342,028.24 Gains and Losses 44-800-01 -IFPIF Consolidated Pool-Unrealized 3,429,251.67 11,441,801.40 44-800-02-IFPIF Consolidated Pool-Realized 140,303.80 (1,844,880.42) 3,569,555.47 9,596,920.98 Other Income 49-000-03 -IFPIF Consolidated Pool Other Income 0.00 9.40 0.00 9.40 Total Investment Income 3,708,896.21 10,938,958.62 Total Revenue 3,926,541.22 13,723,892.47 See Accountants'Compilation Report 19 of 217 6-1 N O O N oc 3, 4 I� � O V1 o N O ' W Q � Q N M .V O 0I1 N ,-r O O O O O O O O O O O O O O O O O O IIIII�IIIII Buffalo Grove Firefighters' Pension Fund Expense Report as of December 31, 2023 Expended Expended this Month this Year Pensions and Benefits 51-020-00- Service Pensions 356,524.90 4,194,082.93 51-040-00-Duty Disability Pensions 22,192.22 266,306.64 51-060-00- Surviving Spouse Pensions 23,312.00 279,744.00 Total Pensions and Benefits 402,029.12 4,740,133.57 Administrative Insurance 52-150-01 -Fiduciary Insurance 0.00 7,926.00 0.00 7,926.00 Professional Services 52-170-01 -Actuarial Services 0.00 2,320,00 52-170-03 -Accounting&Bookkeeping Services 1,145,00 17,775.00 52-170-05 -Legal Services 0.00 7,440.00 52-170-06-PSA/Court Reporter 1,180.00 14,125.00 2,325.00 41,660.00 Investment 52-190-01 -Investment Manager/Advisor Fees 1,500.00 6,000.00 52-195-01 -Administrator Expenses(IFPIF) 0.00 11,787.66 52-195-02-Other Fee&Expenses(IFPIF) 10,855.08 52,792.38 52-195-03 -Management Fee(IFPIF) 5,864.68 14,590.13 52-195-05 -Other Expenses(IFPIF) 128.45 2,471.43 18,348.21 87,641.60 Other Expense 52-290-25-Conference/Seminar Fees 0.00 400.00 52-290-35-Other Expense 0.00 59.50 0.00 459.50 Total Administrative 20,673.21 137,687.10 Total Expenses 422,702.33 4,877,820.67 See Accountants'Compilation Report 21 of 217 8-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended December 31, 2023 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Baker,William M. $ 141,700.31 18,838.04 0.00 0.00 160,538.35 Baniqued,Dustin J. 21,540.83 8,403.35 0.00 0.00 29,944.18 Beck, Brian D. 247,607.38 15,287.65 0.00 0.00 262,895.03 Beckman,Robert L. 92,954.56 11,981.68 0.00 0.00 104,936.24 Budnik,Alec R. 27,260.10 8,867.68 0.00 0.00 36,127.78 Caballero,Alfredo A. 87,525.05 12,676.40 0.00 0.00 100,201.45 Carroll,James R. 83,952.61 11,075.17 0.00 0.00 95,027.78 Chrencik, Brian J. 15,575.31 7,945.44 0.00 0.00 23,520.75 Collins, Shawn J. 205,807.55 15,287.65 0.00 0.00 221,095.20 Dalton,Kyle M. 24,030.32 8,613.50 0.00 0.00 32,643.82 Dinsmore,Patrick S. 197,962.66 11,117.26 0.00 0.00 209,079.92 Ditthardt, Kyle S. 32,217.29 9,299.25 0.00 0.00 41,516.54 Doll,Franklin C. 127,451.17 11,094.58 0.00 0.00 138,545.75 Dorsey, Steven M. 203,153.42 11,112.99 0.00 0.00 214,266.41 Downey, Daniel J. 44,211.85 10,260.54 0.00 0.00 54,472.39 Eaton,Austin R. 11,422.76 7,631.98 0.00 0.00 19,054.74 Gatto,Kevin 209,947.74 11,112.99 0.00 0.00 221,060.73 Gemmel, John M. 641.60 6,815.32 0.00 0.00 7,456.92 Gleeson, Michael T. 6,342.77 7,228.75 0.00 0.00 13,571.52 Herrmann, Robert W. 140,941.86 14,136.29 0.00 0.00 155,078.15 Himmelspach,Joshua R. 90,130.21 11,075.17 0.00 0.00 101,205.38 Hopp, Landon S. 0.00 1,570.68 0.00 0.00 1,570.68 Huh, Jay 64,957.30 11,056.26 0.00 0.00 76,013.56 Kane, Lawrence J. 7,409.48 15,714.03 0.00 0.00 23,123.51 Kaplan, Timothy M. 6,343.41 7,231.43 0.00 0.00 13,574.84 Kolder, Charles A. 131,131.70 11,098.59 0.00 0.00 142,230.29 Kruse, Cody R. 39,989.30 9,917.96 0.00 0.00 49,907.26 Kujawowicz,Piotr A. 27,257.45 8,867.40 0.00 0.00 36,124.85 Manka, Michael J. 36,860.67 9,677.49 0.00 0.00 46,538.16 McCarthy, Ryan K. 90,140.67 11,075.17 0.00 0.00 101,215.84 McCormick, Chad W. 88,575.93 11,935.21 0.00 0.00 100,511.14 Morris, Jeffery W. 226,457.34 13,002.90 0.00 0.00 239,460.24 Navarro, William A. 147,118.48 14,615.70 0.00 0.00 161,734.18 Otto,Nicholas E. 156,913.96 12,696.44 0.00 0.00 169,610.40 Pasquarella, Daniel L. 124,904.45 12,958.60 0.00 0.00 137,863.05 Petersen, Tyler M. 53,278.28 11,032.57 0.00 0.00 64,310.85 Potesta, Brian N. 92,667.02 11,075.42 0.00 0.00 103,742.44 Quill, Dennis W. 182,879.30 11,112.99 0.00 0.00 193,992.29 See Accountants'Compilation Report 22 of 217 9-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended December 31, 2023 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Renshaw, Scott A. 62,253.25 11,056.26 0.00 0.00 73,309.51 Rusin, Steven M. 223,699.64 13,001.12 0.00 0.00 236,700.76 Russell,Andrew L. 176,672.14 14,046.04 0.00 0.00 190,718.18 Schroeder,Adam T. 18,476.29 8,162.58 0.00 0.00 26,638.87 Schroeder,Philip Q. 34,357.33 9,474.71 0.00 0.00 43,832.04 Senese, Jacob M. 18,484.62 8,162.58 0.00 0.00 26,647.20 Shin,Anthony J. 12,035.05 7,671.78 0.00 0.00 19,706.83 Simmons, William A. Jr. 130,436.40 11,094.86 0.00 0.00 141,531.26 Solecki,Joseph R. 62,244.81 11,056.95 0.00 0.00 73,301.76 Steadman, Gary L. 39,983.56 9,915.33 0.00 0.00 49,898.89 Sutherland, Eric S. 35,554.85 9,571.63 0.00 0.00 45,126.48 Vena, James D. 152,722.77 12,977.51 0.00 0.00 165,700.28 Wehrheim, Nicklaus J. 83,922.72 11,079.43 0.00 0.00 95,002.15 Whisler, Kenneth G. 14,901.40 7,880.13 0.00 0.00 22,781.53 Wojcik,Andrew C. 34,362.89 9,472.85 0.00 0.00 43,835.74 Wood, Scott A. 90,195.83 11,075.41 0.00 0.00 101,271.24 Zabilka, David G. 27,516.44 8,890.28 0.00 0.00 36,406.72 4,707,082.08 589,089.97 0.00 0.00 5,296,172.05 Inactive/Terminated Members Pound, Clark J. 218,152.52 9,938.07 0.00 0.00 228,090.59 Spiro, Michael J. 190,715.61 (961.52) 0.00 0.00 189,754.09 Totals 5,115,950.21 598,066.52 0.00 0.00 5,714,016.73 See Accountants'Compilation Report 23 of 217 9-2 co N O N � N_ N N X O O O O O O O O O O O O r m O O O O O O O O O O O O O O O O O O O O O O N 64 fA 6-1 H) E13 69 Ef} ff) H) Efl 6fl i Q) � L4 a) 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 U y es esa cq e» cq es 6q e» 6p� 6q 6q C'1 p R m O O O O O O O O O O O c c O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 3 sh e» e» E» e» c» e» e» E» e» c» rn c U d O O O O O o O O O o 0 Q V O O O O O O O O O O O 0 6 6 6 6 6 6 6 6 0 0 LL R EH fA 4H bq fA 69 VA 4f> ff3 ff3 F}} Q N C L a) O O O O O O 6) 6) 6) O O u O O O O O O O O O O -a C O CD CD O O O N N N NIt = y Efl ff} fA fA EA (& if} 6f} (& (& U) V3 LL C ° G o .N C�♦ i U) 6) O O) O O Q) 00 OJ O O N �+ _ W d 0 O O O I- O � O) 07 M M N U L L O LO O LO I— O Il O O O O N d d OIO RA O N 63 N [�O [VO CO co O O L �(0 � (0 (0 (0 N yc3 N L 4 ¢ m — O M 6) 6) CD6) 6) 6) r 6) O I� O r- OO OJ N N O O L C co LO N LO Il- r— t` I` I` co U O ��1111 M V Il- N I` O O co co of N ,--� LL W E f0 V O ItOJ N LO V) O CDO CD i.i Ef3 U) U> H) Ef3 {R U> H) H) C L Z U w w w w 0 U Y O O O O O V L N m L U ❑ a ❑ O to ❑ ❑ CD El El � to ❑ fn N Nt m ti a p ca � m a`) (3) - a ' a) (3) LL LL O d y o o w o o w R E a) m a) L a Z z c 0 d a 0.0 o oCD y d .) ) Y T A a) a) O N a) �, t a) a a E E_0 T a 3 a) w Q o aU CD dU z a LO 2 v v co co O v _T co oo oo co oo � E o 0 0 0 0 0 r9 R r r r r r r LL cu N V of a) O O co rl- co 00 co N O N � N_ N N X (O (O (O (O (O OJ 00 O O M O m r- r- 1- (7) 01 0) W - - V LO O 6) O 06 00 Ln (n (O (O O N LO LO (() (O (O 00 00 00 i � � � O O � � N N M d d � Efl Efl (!-} Efl Efl R d p LL Y t) 0V 0 O O O O O O O O O O O O O O O O O O O L U d sos 69- 69- 6-1 60, sos sos V)- 61) 69, C'1 p R m 0 0 0 0 0 0 0 0 0 0 c c 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 613 6> 6q> 60, 60, 613 v3 6> 6-3 63 N c U d o 0 0 0 0 0 0 0 0 0 Q 0 O O O o o O 0 O o 0 c LL R 604 6q bq bq bq bq 61�F 61�F Q N C L G7 O O O (D (O O O O O O u O O O O O O O O O O -a O O O M 0) O O O O O D y (f3 69- (f3 I- r- (& 6% 6f3 6q W y VD- LL C (» (» r ° G o N C d y O O O cq ((N (D ((o O O c C d d ON CD CD N N r (00 (00 � O L �♦ 06 � � � � � � � y fA Efl a1 MM w, N W 7 M C? M Lq UO L 0 0 O O Cl) co N N V V 00 U O ��1111 V V V O O V V V V (n ,--� LL W E I- � � O CD coM V V I- Y d j� Q N N N r- I- N I� P- r_ L Sr' i.i Ef3 H} U-} U} H} H} (/3 4f} ff} H} � Z U U w w w w Y O O O O O O V 4 m t to o ) U O N 0 O O Cl LO O 01 (D M O N O = M p tD M h u5 w w - U U z coo ° 3 c - m T d C OO O O J Q d N 0) .r N a o W Q LL Q Q Q Q 00 � � O co GO A Oco C14 LO CD LO .E O O LL O co V N U)CD Cl) N � 0 O U N O V Cl) > N m co N O N � N_ N N X Cl) O O I.- r- O V V V O V f� I- LO LO V O LO LO LO cc r_: lC> I- O I_: N N (6 00 W � N N co Ef} 0000 00 00 � y3 � Ef3 Ef3 Ef3 Efl ff3 Ef3 Efl L4 LL p 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 U y (f, (f} 6r 6q 6p� 6q ss 6q e» 6p� 6q an R m O O O O O O O O O O O c c O O O O O O O O O O O m (Lv o 0 0 0 0 0 0 0 0 0 p c» 61�1 (} e �( (» U) rn c U d O O O O O O O O O O O Q v O O O O O O O O O O O o 0 0 0 6 0 0 0 0 0 0 LL R ff3 64 fA 4H ffl (f3 64 EA ff) ffl ffl Q N C L (D CO c2 c2 CD CD CD O I` I` CDu CD O O O O O O O .a O) V V O O O O O N N O 2 y W N N f» ff3 Ef3 69 U%00 00 Ef3 N Cf} Efl Ef> Ef) ffl LL C ° G o .N C i Vl N O (O O) O V O Ltd (C') Qr I' Lq O LQ O O CJ U ILI.L E O LO co CD CO CO O) (f} W CD O co 00 d O) 00 00 V V co 00 V V O) O + (f} (f} ff3 (f} (f} (f} tq (f} (f} (f} ++ V w' Cl) co co N N Cl) O co V V I- ' N O (O N N N O V V N O M L �1��111 0 co (n LO (O (O V 00 Cl) O O (O U O LL W E Il- - - N N CD V LO 00 00 - L ~ d ^ Q L6 rl M M OJ 69, 00 (O (O (O Sr' ii Ef} Ef3 H} U-} H} H} (f) (f} H} H} 0 Z U 2 U � � w w w � w Y O O O O O O (� 4 m L U N ❑ O N ❑to CDN ❑ O ❑ O N ❑ ClN ❑ CD ti N ti Q LL.(D o- m � w R - a Z m o.o c o _ c7 a _ w Q m co coaU m m LO rn rn rn U� co A r- co 00 00 00 r- LO E o 0 0 LL (n V ti LO � COO a) N N V 00 V L U N m co N O N � N_ N N X V O LO LO LC) LO � rl- O O m LO V O V LO LO (3) G) CO CO m N I- O r-z CO CO (O O r r-z O N d d � EA EA EA R d p LL Y d V 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 (f} 69 fA fA fA (A 69 to O O fA N N p Cl) Cl) CA CA R d O O O O O O O O O O O C C O O O O O O O O O O O R O O O O CD CDO O O CZ) O p fA 69 fA fA fA fA 69 64 6-1 fA (A 7 tll C U d O O O O O O O O O O O Q v O O O O O O O O O O O o 6 6 6 6 6 0 0 6 0 0 LL R fA 64 fA 4A fA (A 64 EA fA fA fA Q N C L 0 O V O V O O O O O O O u O O O O O O O O O O O -a O rl- O r- O O O O O O O = y 69 if} � CA CA CA 64 (A} fA EA U) LL C EF3 fA r 0 ^0 O •N CL i U) (7) O O) LO LO LC) cf) N cq N pr _ d (n OJ f� O CO (O 67 U L �/ L 06 N O N «) LO N N (c) cn d I.L E i co V £A V co M V O O V) �+ d O co 00 N N N N (C) cn O O i rL O CO (D � O O r�: r_ '+=, N '+ (A Efl (f} H) (A Efl 69 (A (A S9 rt+ V N U� O c C) CD CD CD O M M cl O L C (O I- O O cc r- PI- r� U O O rl- O r-- V V co co V) V) N --� LL E rl- O r- rl 00 co r- y j Q CO C V c0 CO L6 L6 M M ( S i.i fA fA ff) Ef) (A fA 4A ff) Ef) 0 Z U 0 w w w m w U O V m L U N ❑ O ❑ O to ❑ O N ❑ O to ❑ Cl N El CD w It Cl) LO Q U a) aL LL o z co co d d o = a Q a o ; wQ m am m m m U LO 2 00 00 LO m LO A 00 00 co 00 1- co LO LO E o 0 0 0 o LL (n V V M U) co a) 00 O ti O O L U LO C\j CD N m co N O N � N_ N N X O (7) O) LO LC) LO LO LO V) (9 O O m C) V V Il 0) 67 Cr) O) Ltd O 00 O 06 00 I- r to L6 00 06 06 O N M 00 00 N N O O N N Vf i N to lf) O O O O d tU � EA Ef} EA Efl Ef} fA EA t6 LL p Y t) 0V O O O O O O O O O O O tU � � 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» 6r 6q 6p, 6q ss tfr e» 61) 69- a p R N O O O O O O O O O O O c c O O O O O O O O O O O m R 0 0 0 0 0 0 0 0 0 0 p c» sh r e» E» (» c» t� f» E» E» U) a c V ro O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 6 6 0(H 60 0 0 0 0 LL R ff3 64 fA 4H ffl 4 EA fA 6-1ffl Q N C L tU O O O O O O O C2 c2 CD CD t) CD O O O O O O O -a r- O O O CD CD CD V V O O = y H} 6q ff} 6f} 61) HS H} N cq W HS 6q 00 N i LL C ° G o .N C i Vl N N N LO LO co tx) 00 00 t9 O �+ Vl I- t0 (D I� 67 W O) O O U d I.L E O to O CDCD O to to 0) O 00 H) d O co M M co M Cl) W O to O L �/♦1 tq f!J H) O fA f6- S-> cyJ � V EPr fA Efl Efl yr ,� L 4 ¢ r_ th coO O O O O O Lq O O L �1��111 0 I- 00 00 6) O (o CO I- I- Cl) O U O LL W E I- I` t` M M M M - Cl) (O CD- CD Q (O 66 6) L6 L6 OJ C (O (O V S i.i ; H} Uf l H} U-} H} H} H} to (f} ff} Ef} 0 Z U 2 U � � w w w w w Y O O O O O m L U fA ❑ O to ❑ O N It ❑ CD CD N El O to ❑ O ❑ O coo to Q LL `D Q .� E z z o0 a a� E (D N s _Z) O m Y N +- CL a o Y �_ E ., a� — w Q U 0 � C7 C� d 0 LO 2 (.0 rn rn LO LO co co Q0 00 co co E 0 0 0 0 0 LL En CEO T V LO ( L 00 V O co � m co N O N � N_ N N X (O LO O LO N N O O Il- r- N O r m LO CO O O V V N N (O O N _ M M O M O O M M (O N (6 0') r- fA r � r- r- LO 00 00 00 y (fl 64 6-1 (f} Efl 6p, £4 fA (A (fl L4 LL p Y V V 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 (» (» esa (» (» (» (» ea es (» (» C'1 p R m O O O O O O O O O O O c c O O O O O O O O O O O m R o 0 0 0 0 0 0 0 0 0 p c» E» f» E» 60, c» Q91 f» E» rn c U d O O O O O O o O O O o Q v O O O O O O o O O O o 0 6 6 6 6 6 6 6 6 6 6 LL R ff3 6-1 ff3 69 VA 4 60, 69 V31 6-1 6-1 60, Q N C L 0) O O O O O O O O I` I` O u O O O O O O O O O O O -a O O O O O O O O N N O = y 69 (f} if} 6q EF} EF} (f3 �.3 V V OO U) EA ffl (f} LL C ° G o .N C i U) (O (7) O O) N N (O (0 00 00 V _ d (n O O O O V V I� d r U L N 0 CD CDN N I- LO LO (n I.L E y cor— £A r- I- V O O 00 00 CD �+ d LO r— r- O O O O V V LO O + SO Ef3 (f} y) (f} Ef3 ff} (f} (f} (Lq 4.++ 0 w' O V O V O O to (O V V (O LC) V O V O O Uf (() O O W O L 0 co (O O m N N co Cl) O O O U O �11 co O m N N V M M N --� LL A E M 00 6) (O M N N N N co d Q LC) V 3 V V V (O (O Lf) L() > EA EA fA fA EA Efl fA 4A fA EA 0 Z U 2 � � w w w m w U Y O O O O O O (� m L U N ❑ O ❑ O N ❑ O N ❑ O N ❑ Cl N ❑ O Lnr- It M MCl)Ln co Q -0 �, N LL� d o � a Z z oo E a _ m t d (D E ° m N T N- a) ~ Q 0. O E'6 L O O T N w Q = aU = Y Y LO 2 O O LO (M h Cl) 0) �_` 00 00 LO 1- 00 LOT LO LO E O O N r O C.0 R r r r r r r LL (n LO M M Il- 6) � r N Cl) M m co N O N � N_ N N X N N N co co co Cl) 00 O co LO O m N 07 00 — — r- r- O O O (O _ (6 L6 L6 W CO M M 00 O 00 (O R 00 0 � O O � 't N (!) N (0 y Hl 64 69- Efl Efl ffl t9- Efl p LL Y V 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 d 69, e» 69- 6q (sl 6q (» ffl Hl Hl Hl an R m O O O O O O O O O O O c c O O O O O O O o O O O m R 0 0 0 0 0 0 0 0 0 0 p c» ( (sh ffl (» (» (» N c U d O O O O O O o o O O o Q v O O O O O O o o O O o 6 0 0 6 6 6 6 6 6 6 6 LL R ff3 69 H1 4!1 (f3 (f3 69 EA 6q ff3 ff3 Q N C L d (D C7 CD CD CD O CD CD CD u CDc2 O O O O O O O O .a 6) V V O O O O O O O O 2 y 00 N N (» fA Cf} 69, 6% 6f} 61) C{} 00 00 U) Efl Efl V) LL C r ° G o .N C i U) V (7) () Cl) (h LO LO N O N V U) O0 W V O V V U d LL E O C) (cc ((D O O O NO N � N N 00 L V V Il- r- M Cl) O O O O i cL (fl CO (O P� � L() Ln 00 OJ Lf) , � '+ EA Efl fA fA EA Efl Efl fA EA Efl � ++ V w' (D V V O O N N V C) V 6) O0 (q (fl r- V V C) O (M I* O L �1��111 0 0) r- � Cl) Cl) OJ co 0') C) 0) coU O LL W E co r- � OLO OLO 00 00 00 6) � V LC ,~ Q Y CDQ v v v U- U- U' U' U3 6-1 (6v O Z u 2 U � � w w w w w Y O O O O O m L U N ❑LO O U)04 U)O N ❑ O co ElO El Cl N ❑co CD m I It O Q U aL LL Q o E E co c U a z m -o co co O d T T cl f4 C 0 Q d 0 O L E L N N N - LL Q J J J d LO 2 V LO (fl (O (O (M N co N N O LO LO .E �2 C) �2 O Cfl R LL 04 CD 00 (n O O V O N a) O) N N M co O L m co N O N � N_ N N X Ln O O O co O O O O N N O m Co O O o) o) 0) O O O) co co Co O O CO CO CO O O W L6 L M O O O O I- Efl 64 I� y Hl 64 69- 6-1 60- �_ 60- 691 � Efl EA R d p LL Y V V 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 60 U �y e» 61) 6» e» 613, e» 61) 6s e» 613, e» an R 0 O O O O O O O O O O O u O O O O O O O o O O O d L O O C) CD C:) O O O CD C:) O p 61 64 4A } 6q ffl 64 fA 6q fA 63 7 tll C U d O O O O O O o o O O O Q v O O O O O O o o O O O C; o 6 6 6 6 6 0 6 6 6 LL R 6-169 6-1 6-1ff3 60, 69 64 6-1 ff3 ff3 Q N C L 0 O O O O O O O O O O O u O O O O O O O O O O O -a O O O O O O O O O O O 2 Efl Efl ff} 6q Iq EF} E19 64 fA fA EA N LL C G o .N d N V C) O O M N N Ur C d d O 00 00 Co CO O Efl b4 O V) Ln O 4. ++ 0 M ar _ N W 3 O O OJ OO cM O O V 6) 6) O L 0 Cl) O O V V M LC) O O � r U O �11 O O O N N 0) N M V N N --� LL _W E V I� r- � (061) Cl) C) Co co Q � > Y Q Y O L � Z 0 � U 2 Y O O O O O m L () N O N C) N O O C) LO El Ln C) N N too It co LO U *O ❑� ao ❑� *O ❑� ❑� ❑� to ❑1 to Q a = 0 _ Li N Li N d Y o a) o acu a)i d LL a a R Z Y w � 0 o co o 0 0 0 d T c U) N O o 0 0 } a� aD a s cm a) m Ea E � w 0 w > > a) w Q O O a_C) a_ C) a LO 2 V 07 O O O Cl) M 0') 0) W ON LO •E N C\l CD CD 0 O O O OD C.0 R LL to O V co U) L 00 Cl) O � m co N O N � N_ N N X Co co 6) 6) co c0 I- 1- O co V O m N 00 r- r- r- r- M Cl) V V Oo co Co 67 O -4 -4 r_: r r--� co (6 (o I- r O O LO LO LO r- fA fA C C 64 ff} 69 cf} Efl d � Efl EA Efl EA L4 LL p Y t) V 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 C'1 p R m O o O o O O O O O O o u O o O o O O O O O O o 0 0 0 0 0 0 0 0 0 0 0 3 sh sn e» 60- (» (» sn e» e» 60, (» In c U d O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 6 6 0 6 6 6 6 0 LL R ff3 69 41)- 6-1 613 V9 69 49- 4H 613 69 Q N C L G) N N O O O O O O O O LO u O O O O O O O O O O O -a d A M M CD O CD CD O CD O Cl) y (f} 03 LL C ° G o .N C i U) N N O O N N co (o V V N �+ N co to O) 6) I- I- (t 7 (t� I� I� O U d LL E O 6) 6) O O co co N N CD CDOo 00 co Cl) O O I- r" LO (n O Q L �/♦1 HS 163 H) S9 kF3 S., S9 H) SO cyJ � V fA fA yr ,� O� oq d7 d7 O O N N N O L ��1111 0 co co Lo LO O O co (6 6) 6) co U O LL W E — — O O O O O— O— O O N ~ d j` Q L6 U5 O O co co L6 L (o (o LO Sr' i.i ; Ef} U), H} H} 613 L91 ff} ff} ff} 0 Z U U 2 Y O O O O O O V m V O N 1:1O to CDN O to CDN O) N ILA O El M M Cl, 00 CIO Y � LLI a 0 E o L U m co 0 p O T m U p o R a _r_ m 3 co CL a or s m wQ a° cn in in (n C/) Ln 2 1` N Cl) M N N o co W c Oo co 6) LO LO E N O co O O O R LL (n 6) N V OLO O O a M co Oo OJ V L m co N O N � N_ N N X V O O O O O 0 CT O) O N O m 07 LO O U') (c (a M Cl) N N OJ I� 06 O W M M I_: r O OLO r- M i r- r- r (0 (0 0) O N N N y 61 64 Cf) 69- 69 _ _ _ _ _ � EA Ef3 (f} 6<3 Ef3 R d p LL Y V V 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 69, 66} e» 61) 6p� 6p.� 66} e» 69- e» 69, C'1 p R m O o O O O O o O O O O c c O o O O O O o O O O O m R o 0 0 0 0 0 0 0 0 0 p Ef3 64 41) fA 60, 64 69 4A 66, fA fA U) N c V ro o o O O o 0 o O O o 0 Q v o o O O o 0 o O O o 0 0 6 6 6 6 0 6 6 6 6 0 LL R ff3 69 4A 4fl ffl 69 64 fA 4H 693 69 Q N C L Cv LO ti O ti O O O O O O O u m CA O O) O O O O O O O r- M M O co O O O O O O O = y � V> 1- HS H} 6% EA 0> 61:3 69 N LL C ° G o .N C i Vl N V O V co N N N LO LO LO pr _ ���// d N O LfJ O LLB OJ N 07 OJ LLB Lt� U d I.L E O W W £A 0) LC) LC) N N LC) LO N d O 00 W 0') 0) Ln V) V V I- O L 16 16} I q � Ef3 S., S9 6<3 O 3 — cyJ w' O) co V I-. N N co Cl) (0 O Ch � O N N OJ O N N V V N L ��1111 0 (O O 1— co LO LO V V 0) 0) co U p LL W E N O Cl) O Cl) M (0 CO N N LO d ^ Q Lf) I- CT V 'i P� P- P- 0') Sr' > ; EPr EA CA U> H} H} CA CA U> H} H} 0 Z 0 � U U 2 Y O O O O O m L U CDN O O N 1:1O N 1:1O Ln O N m CO m M w CIO Q Li ) e � E Y co Z 0 m � � L m Lu Z _ Yd `�) O >+ N a) > o a O m Lu Q cn a U ?: LO CA CO O_ N mLO LO �_` 6) O) V co N O — � •E O O � O N N LL (n m 0) coO CO � a) N NC) L m co N O N � N_ N N X N N N OJ OJ LO O LO OJ V V O m W M Cl) — — LO O LO V N N (O (O 06 CO O I-z (M M LO LO O) O) M 61) M I� N co c000 00 N N O d d � � Efl EA EA EA EA p LL Y V 0V O O O O O O 0 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 (A 6q 6s fA O 60- 6q N C'1 p Cl) SI) R d O O O O O O 0 O O O O U O O O O O O 0 O O O O d L O 0 O CZ) O CD O CDO O p 61) 6s 4A 60- fA 6s 69, fA 60, 60, 7 tl) C U d o 0 0 0 0 0 0 0 0 0 0 Q v o 0 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 LL R ff3 6s fA £fl ffl 6s 6s fA ({} ffl 6s Q N C L G) O LO LO I` I— V 0 V LO (O (O L) O I- ti M O O O OJ OJ O O .a C O LO m r- � 0 I-- I- V V 2 y LO Ln � ((n (n N y _ _ EA EA Efl EA EA Efl LL C <» ° G o .N C i U) LO 6) O) O O N O OJ O �+ C / d U) O1 W O) N N N O OR 6) (O (O U ILI.L E O N V V LO LO co6s co (O (O d � O O coM In I` r O L 16} f6} d} (f} EA fA LO d}co EA cy3 M a+ W O O V O V V M M00 L �11 O N N Ln V) M 0 M N Cl) 0) U O LL W E LO LO LO Cl) Cl) (0 co V CC) Cl) M d ^ Q O (p (p (p (p LO lb� (O M N N Sr' > ii Ef} Ef3 ff} ff} Ef} Ef} ff} N Ef} Ef} O Z 6s U U 2 Y O O O O O O U O In O Im Ln ❑ O N ❑ O ❑ O Ln to El CDN I-- N (� M 2 ((O O O N •> Ln Q d uj a Y (0 a) U O N d LL L m Q o E o m E s c a� N vi co O ~ d Z d (D N = o Y C T 3 N ? (6 Q U d cn C E =0 L a+ ) �:, N co w Q N asU U LO 2 ti LO LO CM W co LO LO LO LO E O O O � R � F LL W Z3 O U) En O N O co N N 6) N O O N Ln U N N :' :' c m co N O N � N_ N N X O O V V V V N O m O O OJ OJ N _ O O 06 06 -4 -4 r LO R Hi 613 C14 cq m CV) N ff} Efl d � "a E{} Efl EA R d p LL Y d O O O O O O O L U y � � � 69, 6q C'1 p f6 u o 0 0 0 0 0 0 0 0 0 0 0 0 0 3 sh sn e» c1 e» c» c» N c a � 0 0 0 0 0 0 0 c cs R 0 � � �69 V31 �LL Q N C u V V O O O O V = y T EA ffl EF} Efl N N (f} ffl EA LL C ° G o .N C i Vl V V Il- p- co O O �+ _ d N V V W co O O O y d E" V V W W O O M Cd O L 6M9 N yc3 N LA M w, W C O O Cl) N N OM O L �11 0 In In 00 co CO CO coU p LL W E co CO CO V V 00 --� d ^ a OJ OJ P- P- N N O Sr' L Z U w w w Y O O O O V 3 N m 0 L N N N1:1 N CJ O N 1:1O t0 0 O ti d CA coV.- ti 7 U ❑� ❑� L' ❑� to a a c cn y � T Z Z N d Y N d0 rr N � E t a a ., = N w Q = a° cn LO 2 0 00 v M �_` N 00 LO LO E � O O LL N CO f� a ti I O L N x m CY) x % m (D F- x Cl) m F- LL LL 0 — _j c; o cyi cyi LL C; C; k LL C (D (L w 0 k � \ C\i C\i (D ca C 0 u LL E >(D z c!) 75 C\l C\l 0 U) C� C\l U) 0) 6 .Z 2 C\l 64 C\l C\! C\l 40 40 co 0 co CY) 64 co co co CY) CY) 64 64 m E E Z Z CL E LU E r CD a) 1- © 1- U*) >1 m CY) 0) U*) E (D m LL cn 0 0) z to co w Buffalo Grove Firefighters' Pension Fund Quarterly Disbursement Report All Bank Accounts October 1,2023-December 31,2023 Check Invoice Check Date Number Vendor Name Amount Amount 10/16/23 30521 Lauterbach &Amen,LLP 52-170-03 482698 09/23 Accounting&Benefits 1,145.00 52-170-06 #82698 09/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325.00 10/31/23 50176 IFPIF 52-195-02 Other Fee&Expenses 5,008.42 52-195-05 Other Expenses 40.51 Check Amount 5,048.93 11/20/23 30526 Lauterbach &Amen,LLP 52-170-03 484125 10/23 Accounting&Benefits 1,145.00 52-170-06 #84125 10/23 PSA 1,180.00 52-170-03 #83364 FYE22 MCR 575.00 ACH Amount(Direct Deposit) 2,900,00 11/30/23 80177 IFPIF 52-195-02 Other Fee&Expenses 2,088.08 52-195-05 Other Expenses 48.02 Check Amount 2,136.10 12/07/23 50177 Sawyer Falduto Asset Management,LLC 52-190-01 Investment Manager/Advisor Fee 1,500.00 Check Amount 1,500.00 12/11/23 30530 Lauterbach &Amen,LLP 52-170-03 485004 11/23 Accounting&Benefits 1,145.00 52-170-06 #85004 11/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325.00 12/31/23 50178 IFPIF 52-195-02 Other Fee&Expenses 10,855.08 52-195-03 Management Fee 5,864.68 52-195-05 Other Expenses 128.45 Check Amount 16,848.21 Total Payments 33,083.24 See Accountants'Compilation Report 37of217 11-1 Buffalo Grove Firefighters' Pension Fund Quarterly Deduction Report All Bank Accounts October 1,2023-December 31,2023 Check Invoice Check Date Number Vendor Name Amount Amount 10/31/23 30522 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 10/23 11,883.10 ACH Amount(Direct Deposit) 11,883.10 10/31/23 30523 Internal Revenue Service 20-230-00 Internal Revenue Service 49,075.98 ACH Amount(Direct Deposit) 49,075.98 11/30/23 30527 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 11/23 11,872.78 ACH Amount(Direct Deposit) 11,872.78 11/30/23 30528 Internal Revenue Service 20-230-00 Internal Revenue Service 50,339,51 ACH Amount(Direct Deposit) 50,339,51 12/29/23 30532 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 12/23 12,050.51 ACH Amount(Direct Deposit) 12,050.51 12/29/23 30533 Internal Revenue Service 20-230-00 Internal Revenue Service 50,540.46 ACH Amount(Direct Deposit) 50,540.46 Total Payments 185,762.34 See Accountants'Compilation Report 38 of 217 12-1 Buffalo Grove Firefighters' Pension Fund Quarterly Transfer Report All Bank Accounts October 1,2023-December 31,2023 Check Invoice Check Date Number Vendor Name Amount Amount 10/05/23 30520 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 214,934.94 ACH Amount(Direct Deposit) 214,934.94 10/26/23 30524 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 156,173.39 ACH Amount(Direct Deposit) 156,173.39 10/30/23 30525 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 18,300.00 ACH Amount(Direct Deposit) 18,300.00 11/27/23 30529 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 123,211.50 ACH Amount(Direct Deposit) 123,211.50 12/11/23 30531 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 210,466.12 ACH Amount(Direct Deposit) 210,466.12 12/21/23 30534 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 22,600.00 ACH Amount(Direct Deposit) 22,600.00 Total Payments 745,685.95 See Accountants'Compilation Report 39 of 217 13-1 Buffalo Grove Firefighters' Pension Fund Monthly Financial Report For the Month Ended January 31, 2024 Prepared By Lauterbach & Amen, LLP . ................- CERTRED PUBLACAGCOUN'TANIS 668 N.RIVER ROAD-NAPERVILLE,ILLINOIS 60563 PHONE 630.393.1483-FAX 630.393.2516 www.lauterbachamen.com 40 of 217 Buffalo Grove Firefighters' 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 Cash &Investments - Pie Chart.............................................................................................. 3-1 CashAnalysis Report.............................................................................................................. 4-1 Cash Analysis Summary- Graph............................................................................................ 5-1 RevenueReport....................................................................................................................... 6-1 Expenses - Bar Chart............................................................................................................... 7-1 ExpenseReport........................................................................................................................ 8-1 Member Contribution Report.................................................................................................. 9-1 PayrollBatch Report............................................................................................................... 10-1 Quarterly Disbursement Report............................................................................................... 11-1 Quarterly Deduction Report.................................................................................................... 12-1 Quarterly Transfer Report........................................................................................................ 13-1 41 of 217 Accountants' Compilation Report 42 of 217 NO,N, V E,R (' d - .. ....................................... itJ,RM, ,(.0.5....0 Lauerbach & Nnien, LT, .............. V ........ F11101 ,E, FM603�3,2!'v.l.6. , CER",0,VE 0 PU R ACCIDLOIt rAN G:s February 28, 2024 Buffalo Grove Firefighters' Pension Fund 1051 Highland Grove Drive Buffalo Grove, IL 60089 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Buffalo Grove Firefighters' Pension Fund which comprise the statement of net position - modified cash basis as of January 31, 2024 and the related statement of changes in net position - modified cash basis for the one month 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, Ate, zzP Lauterbach &Amen, LLP 1-1 43 of 217 Financial Statements 44 of 217 Buffalo Grove Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of January 31, 2024 Assets Cash and Cash Equivalents $ 10,096.25 Investments at Fair Market Value Money Market Mutual Funds 436,905.06 Pooled Investments 80,002,114.97 Total Cash and Investments 80,449,116.28 Due from Municipality 166,417.00 Total Assets 80,615,533.28 Liabilities Expenses Due/Unpaid 1,645.00 Total Liabilities 1,645.00 Net Position Held in Trust for Pension Benefits 80,613,888.28 See Accountants'Compilation Report 45 of 217 2-1 Buffalo Grove Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the One Month Ended January 31, 2024 Additions Contributions-Municipal $ 877.37 Contributions -Members 47,480.63 Total Contributions 48,358.00 Investment Income Interest and Dividends Earned 112,879.82 Net Change in Fair Value (199,654.64) Total Investment Income (86,774.82) Less Investment Expense (2,603.19) Net Investment Income (89,378.01) Total Additions (41,020.01) Deductions Administration 2,325.00 Pension Benefits and Refunds Pension Benefits 412,304.32 Refunds 0.00 Total Deductions 414,629.32 Change in Position (455,649.33) Net Position Held in Trust for Pension Benefits Beginning of Year 81,069,537.61 End of Period 80,613,888.28 See Accountants'Compilation Report 46 of 217 2-2 Other Supplementary Information 47 of 217 N O W V off' w GI'1d-r � HIn kA � 06 N 7 411) O N � O �O O � N O N M � � 7 � � N � N � �,.•� W V CO �O � � � a m ' 01 N M V' Ql P"^• N 01 00 l� m O M tie O N N oc N 10 00 \O 10 M M In �p ' h M �'h 01 0^•. N O O C7, C, Ln N O O oc oc k N p Ic oc oc 01 ' M a0 1� N O O a O 01 rr oc M O N ON M 01 � vn Vl kn �D 00 �1 Do •� � Vr � �h � �"� VO ' � N M V'1 � � Vp o0 -T cr ip} O vi o m rr oc N to yr m M M oc oc r-- �I M N oo O oc N N N \O CD T O G> p yrAcc r- o o n N W N N 000 O � � O OG ' iz 01 �Y N t m �_ �D. b N Ov) Ln N M 00 N M 01 N DDcn N O 69 O C W 3 a R U� E U Q U N O O L0 tlJ �ull�llr �r b Ili 2ox N � Illu Ci" 1,„pal;, 54� eel 6c' tp Oe- c'` 404 1 0S Buffalo Grove Firefighters' Pension Fund Revenue Report as of January 31, 2024 Received Received this Month this Year Contributions Contributions-Municipal 41-210-00-Current Tax $ 877.37 877.37 877.37 877.37 Contributions -Members 41-410-00-Contributions-Current Year 47,480.63 47,480.63 47,480.63 47,480.63 Total Contributions 48,358.00 48,358.00 Investment Income Interest and Dividends 43-102-09-BMO Bank-Checking 96.10 96.10 43-103-03 -IMET-Money Market 0.16 0.16 43-252-04-Schwab-Fixed Income 1,010.32 1,010.32 43-800-01 -IFPIF Consolidated Pool Dividend 28,040.40 28,040.40 43-800-02-IFPIF Consolidated Pool Interest 83,617.77 83,617.77 43-800-03 -IFPIF Contribution Interest 115.07 115.07 112,879.82 112,879.82 Gains and Losses 44-800-01 -IFPIF Consolidated Pool- Unrealized (172,528.22) (172,528.22) 44-800-02-IFPIF Consolidated Pool-Realized (27,126.42) (27,126.42) (199,654.64) (199,654.64) Total Investment Income (86,774.82) (86,774.82) Total Revenue (38,416.82) (38,416.82) See Accountants'Compilation Report 51 of 217 6-1 N O N LI 5 ti f 00 N •rl � � N c! M t ct .p.m rn a� O N rn C� o M N W Buffalo Grove Firefighters' Pension Fund Expense Report as of January 31, 2024 Expended Expended this Month this Year Pensions and Benefits 51-020-00-Service Pensions $ 366,459.85 366,459.85 51-040-00-Duty Disability Pensions 22,532.47 22,532.47 51-060-00-Surviving Spouse Pensions 23,312.00 23,312.00 Total Pensions and Benefits 412,304.32 412,304.32 Administrative Professional Services 52-170-03 -Accounting&Booldceeping Services 1,145.00 1,145.00 52-170-06-PSA/Court Reporter 1,180.00 1,180.00 2,325.00 2,325.00 Investment 52-195-02-Other Fee&Expenses(IFPIF) 2,315.33 2,315.33 52-195-05 -Other Expenses(IFPIF) 287.86 287.86 2,603.19 2,603.19 Total Administrative 4,928.19 4,928.19 Total Expenses 417,232.51 417,232.51 See Accountants'Compilation Report 53 of 217 8-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended January 31, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Baker, William M. $ 160,538.35 1,492.43 0.00 0.00 162,030.78 Baniqued,Dustin J. 29,944.18 692.26 0.00 0.00 30,636.44 Beck, Brian D. 262,895.03 1,186.45 0.00 0.00 264,081.48 Beckman,Robert L. 104,936.24 952.56 0.00 0.00 105,888.80 Budnik,Alec R. 36,127.78 730.08 0.00 0.00 36,857.86 Caballero,Alfredo A. 100,201.45 1,001.28 0.00 0.00 101,202.73 Carroll, James R. 95,027.78 853.58 0.00 0.00 95,881.36 Chrencik,Brian J. 23,520.75 645.56 0.00 0.00 24,166.31 Collins, Shawn J. 221,095.20 1,186.45 0.00 0.00 222,28 L65 Dalton,Kyle M. 32,643.82 692.26 0.00 0.00 33,336.08 Dinsmore,Patrick S. 209,079.92 948.13 0.00 0.00 210,028.05 Ditthardt, Kyle S. 41,516.54 742.32 0.00 0.00 42,258.86 Doll,Franklin C. 138,545.75 929.22 0.00 0.00 139,474.97 Dorsey, Steven M. 214,266.41 853.58 0.00 0.00 215,119.99 Downey, Daniel J. 54,472.39 862.61 0.00 0.00 55,335.00 Eaton,Austin R. 19,054.74 602.02 0.00 0.00 19,656.76 Gatto,Kevin 221,060.73 948.13 0.00 0.00 222,008.86 Gemmel, John M. 7,456.92 561.42 0.00 0.00 8,018.34 Gleeson, Michael T. 13,571.52 581.72 0.00 0.00 14,153.24 Herrmann, Robert W. 155,078.15 1,111.96 0.00 0.00 156,190.11 Himmelspach, Joshua R. 101,205.38 910.31 0.00 0.00 102,115.69 Hopp, Landon S. 1,570.68 551.25 0.00 0.00 2,121.93 Huh, Jay 76,013.56 853.58 0.00 0.00 76,867.14 Kane,Lawrence J. 23,123.51 1,247.13 0.00 0.00 24,370.64 Kaplan, Timothy M. 13,574.84 581.72 0.00 0.00 14,156.56 Kolder, Charles A. 142,230.29 853.58 0.00 0.00 143,083.87 Kruse, Cody R. 49,907.26 796.00 0.00 0.00 50,703.26 Kujawowicz,Piotr A. 36,124.85 730.08 0.00 0.00 36,854.93 Manka,Michael J. 46,538.16 796.00 0.00 0.00 47,334.16 McCarthy,Ryan K. 101,215.84 910.31 0.00 0.00 102,126.15 McCormick, Chad W. 100,511.14 952.56 0.00 0.00 101,463.70 Morris, Jeffery W. 239,460.24 1,001.28 0.00 0.00 240,461.52 Navarro,William A. 161,734.18 1,112.67 0.00 0.00 162,846.85 Otto,Nicholas E. 169,610.40 1,095.83 0.00 0.00 170,706.23 See Accountants'Compilation Report 54 of 217 9-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended January 31, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Pasquarella, Daniel L. 137,863.05 1,076.92 0.00 0.00 138,939.97 Petersen, Tyler M. 64,310.85 891.40 0.00 0.00 65,202.25 Potesta,Brian N. 103,742.44 853.58 0.00 0.00 104,596.02 Quill, Dennis W. 193,992.29 853.58 0.00 0.00 194,845.87 Renshaw, Scott A. 73,309.51 891.40 0.00 0.00 74,200.91 Rusin, Steven M. 236,700.76 1,001.28 0.00 0.00 237,702.04 Russell,Andrew L. 190,718.18 1,106.44 0.00 0.00 191,824.62 Schroeder,Adam T. 26,638.87 645.56 0.00 0.00 27,284.43 Schroeder,Philip Q. 43,832.04 742.32 0.00 0.00 44,574.36 Senese, Jacob M. 26,647.20 645.56 0.00 0.00 27,292.76 Shin, Anthony J. 19,706.83 602.02 0.00 0.00 20,308.85 Simmons,William A. Jr. 141,531.26 853.58 0.00 0.00 142,384.84 Solecki, Joseph R. 73,301.76 891.40 0.00 0.00 74,193.16 Steadman, Gary L. 49,898.89 796.00 0.00 0.00 50,694.89 Sutherland, Eric S. 45,126.48 780.14 0.00 0.00 45,906.62 Vena,James D. 165,700.28 1,001.28 0.00 0.00 166,701.56 Wehrheim,Nicklaus J. 95,002.15 853.58 0.00 0.00 95,855.73 Whisler,Kenneth G. 22,781.53 645.56 0.00 0.00 23,427.09 Wojcik,Andrew C. 43,835.74 742.32 0.00 0.00 44,578.06 Wood, Scott A. 101,271.24 910.31 0.00 0.00 102,181.55 Zabilka, David G. 36,406.72 730.08 0.00 0.00 37,136.80 Totals 5,296,172.05 47,480.63 0.00 0.00 5,343,652.68 See Accountants'Compilation Report 55 of 217 9-2 v N O � N N M X O O O O O O O O O O O O r m O O O O O O O O O O O O O O O O O O O O O O LOCI 64 fA 6-1 H) E13 69 Ef} (f} (f} Efl Efl i d � 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 C'1 p R m O O O O O O O O O O O c c O O O O O O O O O O O 0 0 0 0 00 0 0 0 0 0 3 sh e» e» (» (» (» e» e» (» (» (» N c U d O O O O O o O O O o 0 Q v O O O O O o O O O o O 0 6 6 6 6 6 6 6 6 0 0 LL R EH 6-14H bq fA 69 6-16q bq Q N C L a) O O O O O O 6) 6) 6) O O u O O O O O O O O O O -a C O CD CD O CD N N N NIt y V3 LL C ° G o .N C i Vl O (O O (O V V (O (O I- Qr _ d N O O O O ('7 CJ I: U N L O co O (O co O co O O O O N £n 1- v) v coo co co co co O L � S9 � � � � N yc3 N �♦ LA M w, 00 Cl) _ W U� O) Uf Uf O Uf O) O N N N O L �11 O N Cl) (O LO (O I— r— � � coU O LL W E (n co V (o (o O O M i.i Ef3 {R ft} ff) Ef3 {R (t} ff) Ef) c � Z U O :a :9 :a :4 0 U d O V L N m L U ❑ a ❑ O N ❑ ❑ CDN ❑ C) N ❑ C) N N arD ti a p ca � m a`) a) _ a ' am a) LL LL d y o o w o o w R Z z c 0 d a 0.0 o oCD y d .) c Y T A C C O a) �, t aJ ,., co a a E E-0 �' T a 3 a) . Ddw o aU ( U z a o) 2 v v co co O v A E o 0 0 0 0 0 � R r r r r r r LL cu N V O co r— � O O m v N O � N N M X (7) () M co r- (v O LO LO r O I- � 0) N N N N N I_: r_: N N 07 r r W W O LO i 6M9 6 � 0) � � I- N d 6-1 v) v> - e» era _ kFk fA Efl R a) p LL Y t) 0V O O O O O O O O O O a) � � O O O O O O O O O O L U a) 66q 6q � 6-1 � 609 60s V)- 61) 69, an R 0 O O O O O O O O O O c c O O O O O O o O O O 0 0 0 0 0 0 0 0 0 0 Q7 69 413, 4A 6., 6q 69 64 413, 6-1 ffl N C U a) O O O O O C) o O O C) Q v O O O O O C) o O O o c LL R 609 � 604 60h 6q 6q � Q N C L a) O O O O O co (O O O O u O O O O O O O O O O � 2 � LL C (6 y 64 ° G o .N C i U) (7) () O O O I- r- N N LO �+ _ a) 0 N O O Cfl (O OJ y d E O OO 0) 0) co co Lo � n N a) coLO m N N 00 V V M co O Q L �/♦1 Efl lb- HJ H) � O - fq E!) Efl cyJ V Ef} ff} M ar W 3 O O M Cl? M M Cl? Ut O N L 0 co Cl) M Cl) (O O 0) V V C) U O ��1111 (O (O Cl) Cl) 0') Il- I- O ,--� LL W E V V co W N N N LC) LO co LC Y d Q N N V Il I/3 U- U U� Sr' Ef3 ff} ft} ff} EfJ Ef} ff3 4f} ff} Ef} � L Z U U O Y O O O O O V 4 3 U ElN E] O O ❑ O ❑ O co N ❑ CD co 2 T (C U ❑ ❑ *' ❑ *D ❑ *' ❑ � J L d W E U Y N Z Z co 0 co o c o c a 0 0 m a a X a) a) 0 0 w Q w Q Q Q �n N � 6) V C) Cfl R N CD LO cc LL O V W V N LO � 0 O U N O V O M f� () N J + x N + x f6 N U) * x m v N O � N N M X I- O O Ltd LC) I- � O r O m N O O O) O LO LC) V O V O O of 00 ) Ln I� O I\ L6 LIB M M (C ) M O CS) O O O O 00 fA 00 O i N M M O Cl C14 C14 M M N LL d d "O EA EA EA EA EA fA EA EA L4 p 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 U y (A (A es (A (» (» (A 6q eA (A (» an N O O O O O O O O O O O O c c O O O O O O O o O O O m mo 0 0 0 0 00 0 0 0 0 p c» r ( ( (cf (» U) C c U d O O O O O O o o O O o Q v O O O O O O o o O O o 6 6 0 6 6 6 0 6 6 6 6 LL R fA 64 fA 4A fA (A 64 EA fA ffl ffl Q N C L (D O co (O M M O O O O O I— u O O O O O O O O O d (9 � O — N N EA (A 6% (A} fA N 2 00 00 00 00 V N (A V) EA fA VD- LL C r G o .N C i Vl LC) LC) (f) 00 co V V (D O O O �+ _ d V) OJ V V V V (O (O N O N N U N L O O co co M co Ln Ln I- O I` 0 d I.L E N 0') 0') m (o CD co 00 fA 00 LO O V yr (A (A 4A (A w' M 6) 6) O O LC) O (() N 4- r_ UC M M V V O O 4) CS) OJ O M L 0 O O m (C) (n O O O 00 O) N U O ��1111 O I� t` M Cl) (O CO N I— O) LL W E (0 O m V V co co M V Il O d j` Q I� L6 L6 r- r- M M 00 OJ I-: Sr" ii ; H} EA H} fA U} U} EA fA ff} H} 0 Z U 2 U � � w w w w w Y O O O O O m L U co ❑ O N ❑ O N ❑ O co ❑ O ❑ Cl N ❑ O M N It h W) Q w LL D o R � Cn J N m uj 3 N � O O a 9+ � Q d w Q Q m m m a U m 2 M O 6) O) LC) M 00 co 00 00 co E 0 0 0 0 LL (n N V I� a) m N N V co L m v N O � N N M X I- N N O LO LO LO LO V O m O LO L V O V Cl) Cl) O) CY) vi O O I-z O (O O (O LO O LO (f) fA O O O O "O Ef3 Efl ff3 R d p LL Y V O O C) C) C) C) C) C) C) C)0 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 Ff} 69 ff> (f) (f) (f) 69 tR ff) (f) (3) N C'1 p Cl) E9 N O O O O O O O O O O O O C C O O O O O O O O O O O d R O O C) O O C) O O O C) C) p (f) 69 4f> 4f) ff3 ffl 69 64 V> ff3 (fl 7 C C U d O O O O O O O O O O O Q v O O O O O O O O O O O o 0 0 0 0 0 0 0 0 0 LL R ff3 64 fA 4H 6 ffl (f3 64 EA ff) ffl ffl Q N C L G7 I-- O O V O V O O O O O u O O O OJ O N O O O O O y 69 LL C fA (f3 r ° G o .N C i U) (O I- I- I- O r- N N V V I- �+ _ d (n N 67 O) O O O I� N N N d U 6 (O OJ L O (O C) co N N C) CD C)d to CD V) O V V V I-- O i OJ I9 I` D (fl S L y w' N ((') Lo N O N I- 1- 6) 6) Cl) C V V OJ O OJ C) C') N N O O L C N (O (O N C) N M M OJ U O ��1111 V O 6) co O OJ In lf) N N OJ ,--� LL W E CD co Cl) 6) CD O co Cl) 6) O O d ^ Q I� (O (O M V (O (O L6 L6 C Sr' ii ; Ef} Ef3 H} U-} H} H} H} (f) (f} H} H} 0 Z U U Y O O O O O O V 4 m L � U fA ❑ O to ❑ O ❑ O fn ❑ O to ❑ Cl N ❑ O ti c Ln Ln Q U Iv LL � d y ° Y — Z coQ N co coz co d d c o — o Q a o p — wQ co m° a_co co CDm rn o co co co v Lo a) _T 1- 00 co w co 'IT r9 E o C) 0 0 r9 R LL (n (O 'IT V M LO L V V O I- 6) m v N O � N N M X V LC) LO O O O'J OJ O) O) LO LO O m (7) O) N N V V (O (D O (7) O r (Ii M (n Cn O 06 CD O O) Cl) M M M N N i N N Cn (n 0') m C) O C:)- O d d � EA EA EA Efl fA EA Efl Efl R d p LL Y V 0V 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 rn 63 ER ER ER EA (» ff3 613 61) EA N C'1 p M SO N O O O O O O O O O O O O U O O O O O O O O O O O d L O O C) CD CD C) O O C) O O p 63 613 6> 6-3 6-3 60, 613 v3 6> 6-3 60, 7 C C U d O O O O O O O O O O O Q v O O O O O O O O O O O o 6 6 6 6 6 6 6 6 6 6 LL R ff3 64 fA 4H ffl EH 64 EA fA ffl ffl Q N C L G) O O O O O O O O O M M V O O O O O O O O O -a r- O O C) O CD C) O O C) V V = y 69 4f3 693 6q I q EF} (f3 £4 6q CO co U) ffl VD- LL C ° G o .N CL i N I- LC) LO N N LO LO V V Qr _ d N N V V OR CR N N Lq Uf U s 0 O (fl (O Cn (n (O to N N O O d d co - - (D CDO LO LO CMO CO co N O � � � � � - - � � c�^� y fA EA yr Lrl w' Cl) O O N N I- LO LO co co kn C O (n Lq (O (q P, 00 OJ (O (fl O L C coOJ 00 N N (O mII- r U O ��1111 CO I- V C() Cn N N P- � ,--� LL W E O O 6) O O Cn Cn co (O Cl) co LC CD Q M (O (O O O L L C OJ (O CO t ii H} Ef3 H} H} H} U3 4f} H} H} 0 Z U U Y O O O O O O O V 4 N m U In Q N 1:1C) N CDco1:1C) N C) In U] M le It (O h N (OD 00 N Ln = O O (O O CO Q d R co $ z a d m = a N R C 3 w Q C) C) CD rn o LO Co 0 m co co co 0 co C.0 E o 0 C) C) (.O R LL En 00 V V L O COO V O � U N + m v N O � N N M X V O V I� O � 07 00 N N N O m O O O I� O r- LO Ltd V V LO O f-z M O (6 6) C 6Lr) O C6 0) O h U) I- � r- 1- LO Cb y ffl ff} H) ffl 64 fA fA fA ffl L4 LL p Y V 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» ss e» 61) e» 69, e» e» 69- e» 6q C'1 p R m O o O O O O o O O O O c c O o O O O O o O O O O 0 0 0 0 0 00 0 0 0 0 Q7 EA 64 4A 613 6q 69 69 4A 60- 60, fA N c U d O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 6 6 0 0 0 6 6 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4H ffl 64 Q N C L G7 O O O O O O O O O O I-- V O O O O O O O O O O O $ cy m E 6q 6f} ffl A 6f f Ef} 6% 69 } EF} N f} y V3 LL C L= ° G o NCL d U) LO O CNf7 - O - t00. COD. � � Cam'). Ur C s 0 O O O M O M M M V V O d d I- E13 r- 0 V) U) W - N N CMO O N LA M w, N W 7 00 O 00 V O V co co CD O � L O N O N CD O CD N N Cn Cn CD U O �11 N O N m O CD I- V V --� LL _W E co O O Cl) co I� V V V Q f� Y > Q � � � U> � La � U> � � Y O L Z U �j U O ` � O O O O Y O u L L L L L m V ❑ O ❑ O w ElO El CD ~ El O ElO El h q 1n Cl) LO m m LL LL N� — o co a H C7 2 N R co c a� 2 Z Z o 0.0 w 0.0 £ a d d 0 0 c T N N T N.2 H a a E O E E a L O O a� T � T, N w Q C7 as U = d U co co co O O Cn M I� A C.0 •E O O O O co LO O LL En Cn � M Cl)M I� L Cn N M U N N m v N O � N N M X N 0 O) U') Ln r- � co co O O O m Lo — — L0 Ln — — r- r — O _ -4 4 M M M M M M O O O R 00 00 000 � Cl) O 0 N 61) y (fl 64 (f} H) (f} - - (f} H) � EA EA Efl R d p LL Y V 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 an R m O O O O O O O O O O O c c O 0 O O O O O O O O O m R 0 0 0 0 0 0 0 0 0 0 N c U d O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4H ffl (H Q N C L (D (O O CM r2 O O O O O O V O O O O O O O O O d �9 N O N N Efl Efl 6% (A 6% 6% 2 j V 0 w aw w N (f} ffl EA EA EA LL C ° G o .N C i U) Ln 6) O) N N Cl) co V O �+ (D U) Cl) N N CO (O N 07 N N N O U ILI.L E O CC) O CD (D co O O (O (O ccfl E d cor- r- CO co r- V V N O + (f} EA (6} d) EA EA 16 3 lb} fA d) ++ V w' O V V V V (D O co 00 V O L �1��111 0 (O I- 1l- M Cl) 00 co 1l- 1- N O U O LL W E V O O O O In l0 O O O O L ~ d j` Q lC) L6 L V V (O (O L6 L (O 6p, Sr' i.i ; H} U), (f} (f} H) H) uj (f} (t} H) O z U 2 U � � w w w � w Y O O O O O O V m L U O N ❑ 0 N ❑ 0 N ❑ 0 N ❑ 0 N ❑ 0 El h � QNi CD to Q U a LL LL Ra m °) z z LO 3 °) o Tcl d f0 0 J N C7 C N C CL d >. O O t L w N N CO W Q Y J J J d 2 Cl) VC\l Lo (O CO O A CM CM N O (fl •R LL Lo (n 0 m O V O L M CD N cq M m v N O N N M X O M Cl) O O (O M (O O O (O O m 00 OD C) C) C) O N C) C) N (O -4 4 O O (6 O O CO C4 00 O O N N �t fA H} y N 61) � 69 60 � 0 (fl O 69 d d � Efl Ef3 EA R d p LL Y d V C) O C) C) C) CD O O O (A L O O O O O O O O O O O V y 64 69 fA H) H) 691 64 Cl) H) H) Cl) an in L Ef3 E9 R d O O O O O O O O O O O u O O O O O O O O O O O d L O O O CZ) C) CD O O O O p 69, 69 fA V> ff3 6q Ef3 6q fA V> fA 7 C C U d O O O O O O O O O O O Q v O O O O O O O O O O O C; 6 6 6 6 6 6 0 6 6 6 LL R ff3 Vfl H> ffl 613 69 V3 H> 413, 613 64 Q N C L 0 O O O O O O O O O O O u O O O O O O O O O O O -a O O O O O O O O O O O 2 Efl ff) ff} 6f} (f)- Efl Efl ff} FA ff3 Efl U) LL C G o .N C i Vl V Lf) LO 0') O O O Cl) O O M �+ _ d Vl N O O 7 N OO O d E co r- r OO OO 00 coLo ff> V} V C\lO i OO EA6 (f7 OO OO Ef} + ff} Ef3 Ef} Ef} Ef} GO ++ V a N N O (A r- O O O M O L C N cc cc C) C) O 0 m (() C) U O ��1111 00 (n Lo C) C) (O cc N LL W E m In V) � 0) 0) 00 ff) M d ^ Q (O V V I� V> C tr" 0 Z U 2 U � � w w w � w Y O O O O O m L U CD co 1:1N O N 1:1CDN 1:1CDN O CDCDN LO O N w It co r 00 co m L) M ❑1 00 ❑1 ao *o ❑1 ❑1 ❑1 *I Q _0 _ _00 LL N LL VU� d y Y o o E w R � � z � a o co c c A (V O N N 0) O � .. � .. Q d y _cm N L E a E N N N w Q O O a a_C) 0-C) 0) 2 M V 00 C) C) C) V M O) 6) 6) E N 04 O O O C. R 7 F F F LL (n N O V 00 a) 00 00M O O O L m v N O � N N M X LO LO (6 (O 6) 6) O O M co N O m r- r- 00 00 I- r- 6) 01 6) 6) 67 6) (O (6 O O I� CD M M 6) 6) LO LO N N (6 (6 00 00 N N O y Efl 61) (f} 69 - �_ fA fA (fl d � "O EA Efl 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 an N O O O O O O O O O O O O u O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 3 sh (» e» (» (» (» (» e» (» (» (» U) C 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 0 0 0 6 6 0 6 6 6 6 0 LL (L6 69 69 4A 6-1 613 V9 69 49- 4H 613 69 Q N C L G) O O N N O O O O O O O u O O O O O O O O O O O -a r- O O co Cl) CD CD CD CD C) C)= y (f} 6% NOO NOO (f} (f} 6% ff} fq EF} (f} U) EA EA LL C r ° G o .N C i U) N 00 N N LO LO (7) 6) I- r- (O �+ _ d N V V (D (O O O I� � N N O U O O O I� (n (n 6) 6) 6 (n (O d I.L E " I- r— 6) 6) co co 6) 6) C) �+ 00 1- r- M M co- co co 00 00 I- O L �/♦1 HS 163 f6- H) ff3 S., (f} H) SO cyJ yr ,� w' co co V V (D (D 6) 6) 6) 6) V C ll� r- OO OJ N N OO cq N N O L �1��111 O M M V V (O (O cO (O 1- Il- 6) U O LL �y E OO 00 — r Cl) co N N N N CD> i.i Ef} Ef3 ff} ff} U'> U'> Ef3 ff} ff} ff} ff} L Z U 2 U � � � w w w w Y O O O O O O (� m V O NU00 ) CD O NU) N Q) N W) ~G M N( M CO Y � LLI T d Q d T t O L Uco 0 _ L Z Z Lo E Q d d > i T m v U a) L CL a w Q a a° in in U) C/) 2 M h N co M N A (9 O LC7 C) 00 C) C)(9 •E O O O R LL (n LO O N V OU) C)(O L M 00N OJ M m v N O N N M X N O O O O O co Cl) LO Ln O p m 0) (a (O LO O LO V V N LO 1� N N 06 O W M i LO r- � 1- �) r co t00 � � N y (fl 69 (f} 69 Efl 61) �} _ _ _ � EA Efl EA R d p LL Y t) 0V O O O O O O 0 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 C'1 p R m o 0 0 0 0 0 0 0 0 0 0 c c 0 0 0 0 0 0 0 0 0 0 0 m R 0 0 0 0 0 00 0 0 0 0 U) C c U d o 0 0 0 0 0 0 0 0 0 0 Q v o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 06 0 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4H ffl 64 Q N C L G7 O LO LO I` O I` O O O O O u O O O O O O O O O O O -a d A O M M Cl) O M O O O O O 2 y Efl ffl EA - 61) � H} 69 6f} 69- 69 � f/J LL C ° G o .N C i Vl (fl (a (O (O O (o LO 7 U') I- I- LO �+ _ d Vl O CfJ N O N t0 CD V V U N L O (o 00 co I— O I- r- � I- 1- rn d LL E C) 0) 0) W H) co 0 CDC) C) LO �+ 00 0 � � � � � _ _ LO W a O O q W � N N M M N O L 0 OJ N N m Il- V (O (O (O (O (O U p ��1111 O 0') 0') LO I` co C) I� I` V LL W E co O CO co LO LO OJ 00 N d j� Q (O L6 L6 r- 6) V V I_ r- I� Sr' i.i (f} U), ff} ff} Ef} Ef} Ef3 ff} ff} ff} H} 0 Z U 2 U � � w w w w w Y O O O O O O V U 0 N ❑ 0 to ❑ o ❑ 0 m ❑ 0 0 ❑ 0 N ElCD (O 0 M Q � c LL � Q E Y °'U) z z L Z � � 0 d 0 J .2 Y d N c a a w a) E a m E m �,N ° w Q cYn U) d U H H H 2 N 0'7 (O C) A E O O O ^ O N (9 R F F F F LL co(n 0 (MO m Cl)M COO C14 L N O U � x � x � m v N O � N N O O V V W O co O O m N CO CO � r- W Oo O) O CY) O M In In Oi 6 4 O -4 Cfl O OJ CO O 0 I-- ff) I- I- i N N N O O N N CO d d � � Efl EA EA Efl Efl EA Efl p LL Y V 0V O O O O O O 0 O O (D O) O O O O O O O O O O N L O O O O O O O O O O (O V y (f} 69 fA (A (A 6q 69 fA (A 60- N Co C'1 p v R m o 0 0 0 0 0 0 0 0 0 0 c c 0 0 0 0 0 0 0 0 0 0 0 m m0 0 0 0 0 0 0 0 0 0 0 p c» 6s f» E» E» c» E» f» f» E» �s U) C c U d 0 0 0 0 0 0 0 0 0 0 0 Q v 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C; 0 0 0 0 0 LL R ff3 69 4A 4f3 6f b9 69 4A 4A 613 fq, Q N C L G7 O O O LO LO I— I— V O V LO u O O O I` t` CO O Oo O Oo CO -a C O O C) In Ln � I` I` C) r— IT = y Efl ffl EA to LO Or- O� (D V} co O y _ _ 69 Efl ff) (f} LL C fA Ffy r3 ° G o .N C i Vl LO V V O O N O O) O o) LO �+ _ d Vl LO (D (D 'IT V o) 67 Cl) C) Cl) Co U N s 0 rn v v of 6 r-_: r-� (D O co 6 d d� v o 0 0 0 - - Lo 6r LO v 0 o o Cd C6 C6 V>16� C L 4.+ m to r- LO LO � r- o � N O a7 47 a7 N N LQ O LD Il O ,� L ��1111 ,I- N N O OJ Oo V C) V co O LL W E N Oo co I` I` LO LO co CC) (O --� d ^ Q I� 66 O) (O (O (O (O L CO N Sr' > H} U)r (f} ff} Ef} H} uj (f} ff} M O Z (» U 2 U � � w w w � w w Y O O O O O O OL V N m t n 3 U CDN ❑ C) to ❑ CDN ❑ CD It Elo El CDN N c�0 ti QNi N U O O N Q uj �p Y m d LL d L 0 E E w c �N o o Z Y Y o 0 d c T Y C T v a CL � > w Q N a U 2 N I-- I— LI) LD A N C) (D � •E N O O LL Ln I- O OC\j N L tD O O N N m v N O � N N M X V V O O LO LO V V M O m N N O O M Cl) 00 00 V O O M M -4 -4 N O fA fA 00 00 M Cl) CO i NEfl � - 6 d � "a Cf3 EA EA R d p LL Y d O O O O O O O O O L U d 69 � 6q � 6q 6q 6q bq � C'1 p f6 u 0 C) C) 0 0 0 0 C) C) 0 0 0 0 00 0 0 0 3 EH &3 ER ER EPr 6c3 ff3 ff3 ER y c a � 0 0 0 0 0 0 0 0 0 c LL R 604 6q bq bq b 61�, 6-, Q N C u O O V V O O O O V N_ N M M C 0 6% 6 c0 � y Cf} EA EA ffl EA LL C 0 O .N C i y V V I- r- 00 00 O �+ C 0) d U) (q (D V V CJ CJ O O O y d I.L v v rn rn M O L � � � S9 � � N cy^J N yr (� EA ^' W C M M O O Ut Uf N N O O L �11 0 M co (() (n co co co CO 00 U p LL W E M Cl) Cl) Cl) V V 00 y j� Q N N OJ C I� I� N N O S i.i Ef3 H} U-} H} H} H} (/3 4f} N\ � Z U Y O O O O O Q 4 N m L U) U) co U) U) CJ O Cl) O N 1:1O CO 0 O ti d N M ti w 7 Q c Q � s N co 0 d y p :1 m m N Z Z E 7 L R E r a a = N w Q U 2 d (n 2 (M O co V A (0O M co LO E O O O LL N to 7 O U) M N CO V f6 U) * x m x 0 00 x (D m F- 00 LL 0 C5 22LL 0 — _j \ \ 0 00 C\l 2C\l 00 a c 4 4 4) C CY 2 LL C; C; k LL C 0 (D (L k � \ w 0 C\i C\i (D ca C 0 u LL E >(D z 0 c!) 75 C\l k U) U) .Z 2 CY) CY) C\l CY) 40 C\l (D co C\! lc� 00 'T N 0) T CY) CY) 64 m E E Z Z CL E LU r a) 1- 00 0) >1 E CD m 0) E co co m U. cn 0 co V) z Buffalo Grove Firefighters' Pension Fund Quarterly Disbursement Report All Bank Accounts November 1,2023-January 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 11/20/23 30526 Lauterbach &Amen,LLP 52-170-03 484125 10/23 Accounting&Benefits 1,145.00 52-170-06 #84125 10/23 PSA 1,180.00 52-170-03 #83364 FYE22 MCR 575.00 ACH Amount(Direct Deposit) 2,900.00 11/30/23 50177 IFPIF 52-195-02 Other Fee&Expenses 2,088.08 52-195-05 Other Expenses 48.02 Check Amount 2,136.10 12/07/23 50178 Sawyer Falduto Asset Management,LLC 52-190-01 Investment Manager/Advisor Fee 1,500.00 Check Amount 1,500.00 12/11/23 30530 Lauterbach &Amen,LLP 52-170-03 485004 11/23 Accounting&Benefits 1,145.00 52-170-06 #85004 11/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325.00 12/31/23 50179 IFPIF 52-195-02 Other Fee&Expenses 10,855.08 52-195-03 Management Fee 5,864.68 52-195-05 Other Expenses 128.45 Check Amount 16,848.21 O1/16/24 30535 Lauterbach &Amen,LLP 52-170-03 485928 12/23 Accounting&Benefits 1,145.00 52-170-06 #85928 12/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325,00 O1/31/24 50180 IFPIF 52-195-02 Other Fee&Expenses 2,315.33 52-195-05 Other Expenses 287.86 Check Amount 2,603.19 Total Payments 30,637.50 See Accountants'Compilation Report 69of217 11-1 Buffalo Grove Firefighters' Pension Fund Quarterly Deduction Report All Bank Accounts November 1,2023-January 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 11/30/23 30527 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 11/23 11,872.78 ACH Amount(Direct Deposit) 11,872.78 11/30/23 30528 Internal Revenue Service 20-230-00 Internal Revenue Service 50,339.51 ACH Amount(Direct Deposit) 50,339.51 12/29/23 30532 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 12/23 12,050.51 ACH Amount(Direct Deposit) 12,050.51 12/29/23 30533 Internal Revenue Service 20-230-00 Internal Revenue Service 50,540.46 ACH Amount(Direct Deposit) 50,540.46 01/31/24 30536 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-01/24 12,050.51 ACH Amount(Direct Deposit) 12,050.51 01/31/24 30537 Internal Revenue Service 20-230-00 Internal Revenue Service 50,568.40 ACH Amount(Direct Deposit) 50,568.40 Total Payments 187,422.17 See Accountants'Compilation Report 70 of 217 12-1 Buffalo Grove Firefighters' Pension Fund Quarterly Transfer Report All Bank Accounts November 1,2023-January 31,2024 Check Invoice Check Date Number Vendor Name Amount Amount 11/27/23 30529 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 123,211.50 ACH Amount(Direct Deposit) 123,211.50 12/11/23 30531 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 210,466.12 ACH Amount(Direct Deposit) 210,466.12 12/21/23 30534 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 22,600.00 ACH Amount(Direct Deposit) 22,600.00 01/25/24 30538 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 89,170.24 ACH Amount(Direct Deposit) 89,170.24 01/25/24 30539 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 21,500.00 ACH Amount(Direct Deposit) 21,500.00 Total Payments 466,947.86 See Accountants'Compilation Report 71 of 217 13-1 Buffalo Grove Firefighters' Pension Fund Year-End Close Adjustments For the Fiscal Year Ended December 31 , 2023 Included as of the Month Ended February 29, 2024 Prepared By I...,auterbach & Amen, LIT 4aEHM`1FD PUBI.G ACCOUNTANT'S 668 N.RIVER ROAD-NAPERVILLE,ILLINOIS 60563 PHONE 630.393.1483-FAX 630.393.2516 www.laitterbachaii-icn.com 72 of 217 N.�IVVER,A,1r)A[) - tlAPERv KJLE,119JJNO8s fi(g?0 L,ultffbach & Atn,en� LI-T, . ................. MEMO TO: Members of the Pension Board of Trustees FROM: A.J. Weber RE: Year End Close Adjustments This memo is intended to inform you of the agreed upon year end close 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 adjusting entries from the previous fiscal year end were posted. These adjustments would include accrued interest, due/unpaid expenses, prepaids and any other adjustments necessary to complete the audit workpapers. These closing adjustments occur on an annual basis. The only real affect of these adjustments is to fund balance. A prior year adjustment would update the fund balance to reflect the most accurate position as of the previous year end. Should you have any questions, please feel free to contact A.J. Weber or Susan Hill at 630.393.1483. Cordially, Ate, zz;D Lauterbach&Amen, LLP 73 of 217 Buffalo Grove Firefighters' Pension Fund Year End Close Adjustments Journal As of Fiscal Year Ended December 31,2023 Reference Account Description Debit Credit Journal: Y/E Adjustments YEadj 20-110-00 YE 1 -to reverse FYE 2022 accruals 1,645.00 0.00 YEadj 41-210-00 YE 1 -to reverse FYE 2022 accruals 166,417.00 0.00 YEadj 15-600-00 YE 1 -to reverse FYE 2022 accruals 0.00 (166,417.00) YEadj 52-170-06 YE 1 -to reverse FYE 2022 accruals 0.00 (1,145.00) YEadj 52-190-01 YE 1 -to reverse FYE 2022 accruals 0.00 (500.00) YEadj 52-195-05 YE 2-to reclass FYE 2023 IFPIF Expenses 59.50 0.00 YEadj 52-290-35 YE 2-to reclass FYE 2023 IFPIF Expenses 0.00 (59.50) YEadj 52-170-06 YE 3 -to record FYE 2023 Expenses Due Unpaid 1,180.00 0.00 YEadj 52-190-01 YE 3 -to record FYE 2023 Expenses Due Unpaid 500.00 0.00 YEadj 20-110-00 YE 3 -to record FYE 2023 Expenses Due Unpaid 0.00 (1,680.00) 169,801.50 (169,801.50) 74 of 217 Buffalo Grove Firefighters' Pension Fund Monthly Financial Report For the Month Ended February 29, 2024 Prepared By Lauterbach & Amen, LLP . ................- CERTRED PUBLACAGCOUN'TANIS 668 N.RIVER ROAD-NAPERVILLE,ILLINOIS 60563 PHONE 630.393.1483-FAX 630.393.2516 www.lauterbachamen.com 75 of 217 Buffalo Grove Firefighters' 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 Cash &Investments - Pie Chart.............................................................................................. 3-1 CashAnalysis Report.............................................................................................................. 4-1 Cash Analysis Summary- Graph............................................................................................ 5-1 RevenueReport....................................................................................................................... 6-1 Expenses - Bar Chart............................................................................................................... 7-1 ExpenseReport........................................................................................................................ 8-1 Member Contribution Report.................................................................................................. 9-1 PayrollBatch Report............................................................................................................... 10-1 Quarterly Disbursement Report............................................................................................... 11-1 Quarterly Deduction Report.................................................................................................... 12-1 Quarterly Transfer Report........................................................................................................ 13-1 76 of 217 Accountants' Compilation Report 77 of 217 NO,N, V E,R (' d - .. ....................................... itJ,RM, ,(.0.5....0 Lauerbach & Nnien, LT, .............. V ........ F11101 ,E, FM603�3,2!'v.l.6. , CER",0,VE 0 PU R ACCIDLOIt rAN G:s March 27, 2024 Buffalo Grove Firefighters' Pension Fund 1051 Highland Grove Drive Buffalo Grove, IL 60089 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Buffalo Grove Firefighters' Pension Fund which comprise the statement of net position - modified cash basis as of February 29, 2024 and the related statement of changes in net position - modified cash basis for the two 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, Ate, zzP Lauterbach &Amen, LLP 1-1 78 of 217 Financial Statements 79 of 217 Buffalo Grove Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of February 29, 2024 Assets Cash and Cash Equivalents $ 10,097.03 Investments at Fair Market Value Money Market Mutual Funds 469,358.31 Pooled Investments 81,644,496.46 Total Cash and Investments 82,123,951.80 Total Assets 82,123,951.80 Liabilities Expenses Due/Unpaid 1,680.00 Total Liabilities 1,680.00 Net Position Held in Trust for Pension Benefits 82,122,271.80 See Accountants'Compilation Report 80 of 217 2-1 Buffalo Grove Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Two Months Ended February 29, 2024 Additions Contributions-Municipal $ 65,057.72 Contributions -Members 118,835.04 Total Contributions 183,892.76 Investment Income Interest and Dividends Earned 252,113.88 Net Change in Fair Value 1,618,485.67 Total Investment Income 1,870,599.55 Less Investment Expense (5,847.48) Net Investment Income 1,864,752.07 Total Additions 2,048,644.83 Deductions Administration 4,850.00 Pension Benefits and Refunds Pension Benefits 824,608.64 Refunds 0.00 Total Deductions 829,458.64 Change in Position 1,219,186.19 Net Position Held in Trust for Pension Benefits Beginning of Year 80,903,085.61 End of Period 82,122,271.80 See Accountants'Compilation Report 81 of 217 2-2 Other Supplementary Information 82 of 217 N O M W r v U O CY O O c�i m 0O V� Cl) O V N m n m o CN 0 �o kn kn n ti oo v 00 N ON1r I� 06 N 4 n O 00 01 \�O Ln O ' 00 00 01 00 I— M 00 N N O M O n O ti N O N N 00 \O ai M ' 01 N M P^^ p N N ol M �O O O V1 'n InIn tn CY O1 '� N O O \:J �G I� N ,m-i M 00 N � o N i..l mow^ m \O U'1 In In 00 m mOm0 = 00 00 �c In N CA rq M � O •ICI � V"1 Vr .--� l� l� OC Ol ' l� Vr �n M CO �$ 01 00 O 00 Ln kn to V) V O M �Y OO ^, t In In r- M M CZ) M O Q OD V1 0 N N N � � o C� oc o o rr 'n C� N I/' 00 � In o0 ai r �•y O O O M M 7 M 06 O m oc ^ ,NN-i 1") I- M N Ln M O O tn N O O 69 R L". Rl� ut C N O LO W z l9efl t ul r r u e ell. cl C!1 1 r Dil c re, ' C) 00 in Buffalo Grove Firefighters' Pension Fund Revenue Report as of February 29, 2024 Received Received this Month this Year Contributions Contributions-Municipal 41-210-00-Current Tax $ 64,180.35 65,057.72 64,180.35 65,057.72 Contributions -Members 41-410-00-Contributions-Current Year 71,354.41 118,835.04 71,354.41 118,835.04 Total Contributions 135,534.76 183,892.76 Investment Income Interest and Dividends 43-102-09-BMO Bank-Checking 30.10 126.20 43-103-03 -IMET-Money Market 0.00 0.16 43-252-04-Schwab-Fixed Income 1,872.90 2,883.22 43-800-01 -IFPIF Consolidated Pool Dividend 52,330.65 80,371.05 43-800-02-IFPIF Consolidated Pool Interest 84,984.24 168,602.01 43-800-03 -IFPIF Contribution Interest 16.17 131.24 139,234.06 252,113.88 Gains and Losses 44-800-01 -IFPIF Consolidated Pool- Unrealized 1,871,121.36 1,698,593.14 44-800-02-IFPIF Consolidated Pool-Realized (52,981.05) (80,107.47) 1,818,140.31 1,618,485.67 Total Investment Income 1,957,374.37 1,870,599.55 Total Revenue 2,092,909.13 2,054,492.31 See Accountants'Compilation Report 86 of 217 6-1 N O 00 of CL In O O � zM U �N W O O O O O O O o Buffalo Grove Firefighters' Pension Fund Expense Report as of February 29, 2024 Expended Expended this Month this Year Pensions and Benefits 51-020-00-Service Pensions $ 366,459.85 732,919.70 51-040-00-Duty Disability Pensions 22,532.47 45,064.94 51-060-00-Surviving Spouse Pensions 23,312.00 46,624.00 Total Pensions and Benefits 412,304.32 824,608.64 Administrative Professional Services 52-170-03 -Accounting&Booldceeping Services 1,180.00 2,325.00 52-170-06-PSA/Court Reporter 1,215.00 2,395.00 2,395.00 4,720.00 Investment 52-195-02-Other Fee&Expenses(IFPIF) 1,911.90 4,227.23 52-195-05 -Other Expenses(IFPIF) 1,332.39 1,620.25 3,244.29 5,847.48 Other Expense 52-290-25 -Conference/Seminar Fees 130.00 130.00 130.00 130.00 Total Administrative 5,769.29 10,697.48 Total Expenses 418,073.61 835,306.12 See Accountants'Compilation Report 88 of 217 8-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended February 29, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Baker, William M. $ 160,538.35 3,764.57 0.00 0.00 164,302.92 Baniqued, Dustin J. 29,944.18 1,730.65 0.00 0.00 31,674.83 Beck, Brian D. 262,895.03 2,992.75 0.00 0.00 265,887.78 Beckman,Robert L. 104,936.24 2,381.40 0.00 0.00 107,317.64 Budnik, Alec R. 36,127.78 1,818.53 0.00 0.00 37,946.31 Caballero, Alfredo A. 100,201.45 2,503.20 0.00 0.00 102,704.65 Carroll, James R. 95,027.78 2,133.95 0.00 0.00 97,161.73 Chrencik, Brian J. 23,520.75 1,613.90 0.00 0.00 25,134.65 Collins, Shawn J. 221,095.20 2,992.75 0.00 0.00 224,087.95 Dalton, Kyle M. 32,643.82 1,730.65 0.00 0.00 34,374.47 Dinsmore,Patrick S. 209,079.92 2,228.50 0.00 0.00 211,308.42 Ditthardt, Kyle S. 41,516.54 1,855.80 0.00 0.00 43,372.34 Doll,Franklin C. 138,545.75 2,209.59 0.00 0.00 140,755.34 Dorsey, Steven M. 214,266.41 2,133.95 0.00 0.00 216,400.36 Downey, Daniel J. 54,472.39 2,142.98 0.00 0.00 56,615.37 Eaton,Austin R. 19,054.74 1,505.05 0.00 0.00 20,559.79 Gatto,Kevin 221,060.73 2,228.50 0.00 0.00 223,289.23 Gemmel, John M. 7,456.92 1,403.55 0.00 0.00 8,860.47 Gleeson, Michael T. 13,571.52 1,484.75 0.00 0.00 15,056.27 Herrmann, Robert W. 155,078.15 2,804.86 0.00 0.00 157,883.01 Himmelspach, Joshua R. 101,205.38 2,190.68 0.00 0.00 103,396.06 Hopp, Landon S. 1,570.68 1,419.66 0.00 0.00 2,990.34 Huh, Jay 76,013.56 2,133.95 0.00 0.00 78,147.51 Kane, Lawrence J. 23,123.51 3,145.83 0.00 0.00 26,269.34 Kaplan, Timothy M. 13,574.84 1,484.75 0.00 0.00 15,059.59 Kiotis,Alexandra N. 0.00 785.34 0.00 0.00 785.34 Kolder, Charles A. 142,230.29 2,133.95 0.00 0.00 144,364.24 Kruse, Cody R. 49,907.26 1,990.00 0.00 0.00 51,897.26 Kujawowicz, Piotr A. 36,124.85 1,818.53 0.00 0.00 37,943.38 Manka, Michael J. 46,538.16 1,990.00 0.00 0.00 48,528.16 McCarthy, Ryan K. 101,215.84 2,190.68 0.00 0.00 103,406.52 McCormick, Chad W. 100,511.14 2,438.13 0.00 0.00 102,949.27 Morris, Jeffery W. 239,460.24 2,503.20 0.00 0.00 241,963.44 Navarro, William A. 161,734.18 2,793.05 0.00 0.00 164,527.23 See Accountants'Compilation Report 89 of 217 9-1 Buffalo Grove Firefighters' Pension Fund Member Contribution Report As of Month Ended February 29, 2024 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Otto,Nicholas E. 169,610.40 2,597.75 0.00 0.00 172,208.15 Pasquarella, Daniel L. 137,863.05 2,578.84 0.00 0.00 140,441.89 Petersen, Tyler M. 64,310.85 2,171.77 0.00 0.00 66,482.62 Potesta,Brian N. 103,742.44 2,133.95 0.00 0.00 105,876.39 Quill, Dennis W. 193,992.29 2,133.95 0.00 0.00 196,126.24 Renshaw, Scott A. 73,309.51 2,171.77 0.00 0.00 75,481.28 Rusin, Steven M. 236,700.76 2,503.20 0.00 0.00 239,203.96 Russell, Andrew L. 190,718.18 2,790.94 0.00 0.00 193,509.12 Schroeder,Adam T. 26,638.87 1,613.90 0.00 0.00 28,252.77 Schroeder,Philip Q. 43,832.04 1,893.62 0.00 0.00 45,725.66 Sense, Jacob M. 26,647.20 1,613.90 0.00 0.00 28,261.10 Shin, Anthony J. 19,706.83 1,505.05 0.00 0.00 21,211.88 Simmons, William A. Jr. 141,531.26 2,133.95 0.00 0.00 143,665.21 Solecki, Joseph R. 73,301.76 2,171.77 0.00 0.00 75,473.53 Steadman, Gary L. 49,898.89 1,990.00 0.00 0.00 51,888.89 Sutherland, Eric S. 45,126.48 1,974.14 0.00 0.00 47,100.62 Vena, James D. 165,700.28 2,503.20 0.00 0.00 168,203.48 Wehrheim,Nicklaus J. 95,002.15 2,133.95 0.00 0.00 97,136.10 Whisler, Kenneth G. 22,781.53 1,613.90 0.00 0.00 24,395.43 Wojcik, Andrew C. 43,835.74 1,893.62 0.00 0.00 45,729.36 Wood, Scott A. 101,271.24 2,190.68 0.00 0.00 103,461.92 Zabilka, David G. 36,406.72 1,843.56 0.00 0.00 38,250.28 Totals 5,296,172.05 118,835.04 0.00 0.00 5,415,007.09 See Accountants'Compilation Report 90 of 217 9-2 v N O � N � N N X O O O O O O O O O O O O N m O O O O O O O O O O O O O O O O O O O O O O m 61) fA 6-1 H) E13 69 Ef} (f} (f} 69 Efl i d 0 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 (» esa (» (» (s), (» 6q e» 6p� 6q 6q C'1 p R m O O O O O O O O O O O c c O O O O O O O O O O O 0 0 0 0 00 0 0 0 0 0 3 sh e» e» (» (» (» e» e» (» (» (» N c U d O O O O O o O O O o O Q v O O O O O o O O O o O 0 6 6 6 6 6 6 6 6 0 0 LL R EH 6-1H 4 bq fA 69 6-16q bq Q N C L a) O O O O O O 6) 6) 6) O O u O O O O O O O O O O -a r- O CD O CD O O N N N NIt y V3 LL C ° G o .N C i Vl O (O O (O V V (O (O I- Qr _ d N O O O O ('7 CJ I: U N L O co O (O (o O co O O O O N £n - v) v CD co (o co co O L � S9 � � � � N yc3 N �♦ y+ V EA ^' LA M w, 00 Cl) _ W U� O) Uf Uf O Uf O) O N N N O L �11 O N Cl) m (p mI— r— � � coU O LL W E (n co V (O (o O O M i.i Ef3 U) ft} ff) Ef3 {R U-} H) H) C 6 Z U O :a :9 :a :4 0 U d Y O O O O O V L N m L U ❑ a ❑ O 04 N ❑ ❑ CDN ❑ C) N ❑ C) N N arD ti a p � m a`) a) _ a ' am a) LL LL d y o o w o o w R E m a�0 L a Z z c E 0 a o o o oCD y d .) c Y T A C C O a) �, t aJ a a E E-0 T a 3 a) .� w Q o aU (D dU z a c+) 2 v v co co O v E o 0 0 0 0 0 � R r r r r r r LL cu N V O co rl- � O O m v N O � N � N N X (7) () 00 co r- (v O LO LC) r- O N r- � 0) N N N N N I_: r_: N N 07 r r 00 00 O i 6M9 6 � 0) � � I- N d 6-1 v) v> - e» era _ kFk fA Efl R a) p LL Y t) V O O O O O O O O O O a) � � O O O O O O O O O O L V a) 66q 6q � 6-1 � 609 60s V)- 61) 69, an R 0 O O O O O O O O O O c c O O O O O O o O O O 0 0 0 0 0 0 0 0 0 CO Q7 69 413, 4A 6., 6q 69 64 413, 6-1 ffl N C V a) O O O O O C) o O O C) Q v O O O O O C) o O O o c LL R 609 � 604 60h 6q 6q � Q N C L a) O O O O O N N O O O u O O O O O V V O O O � 2 � LL C (6 y 64 ° G o .N C i U) (7) () O O O I- r- N N LO �+ _ a) 0 N O O Cfl (q OO U d E O OO 0) 0) co co Lo � n N a) coLO m N N W V V M co O Q L �/♦1 Efl lb- HJ H) � O - f!-} E!) Efl cyJ V Ef} ff} M ar W 3 O O M Cl? M Cl? M M Cl? Ut O N L 0 co Cl) M Cl) (O O 0) V V C) U O ��1111 (O (O Cl) Cl) 0') co 00 1— PI- 0) ,--� LL W E V V co 00 N N N LC) (f) co LC Y d Q N N V Il I/3 U- U U� Sr' Ef3 ff} ft} ff} EfJ Ef} ff3 4f} ff} Ef} � L Z U 0 U w w w � w O Y O O O O O V 4 m 3 t ) ) U O C) co O ClN O h O N O h M p (D M � J L d T � W Z Z co 0 co o c o c a 0 0 m a a X a) a) 0 0 w Q w Q Q Q co V 00 O V O '' N 0) N O L V R LL O V 00 V N (n � 0 O U N O V O M f� U N J + x N + x f6 N U) * x m v N O � N � N N X I- O O LO LC) I- � O r O N m N O O 0) O LO LC) V O V O O 0 00 M M (C) Ln I� O I\ L M O CS) O O O O 00 fA 00 O i N co M m 0') C14 C14 M M N d d "O EA EA EA EA EA fA EA EA L4 LL p Y t) V 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 (A (A es (A (» (» (A fA eA (A (» an N O O O O O O O O O O O O c c O O O O O O O o O O O m (Lv 0 0 0 0 0 0 0 0 0 0 p c» ( (sh fA (A (A (» rn c U d O O O O O O C) o O O C) Q v O O O O O O C) o O O o 6 0 0 6 6 6 6 6 6 6 6 LL R fA 69 H1 6-1 (A (H 69 EA 4A 6-1ffl Q N C L (D O O O C) r) O O O O O I— u O O7 OJ O O O O O O d m ({} O O N N EA (A 6% (A} fA N 2 f� 00 W V N (A V) EA fA VD- LL C r ° G o .N C i U) LC) LC) (f) O co V V (D O O O �+ _ d V) O0 V V V V (O (O N O N N U L �/ L O O co (O M Cl) LO LO I- O I` � d I.L E N 0') 0') m (o CD co 00 fA 00 LO z O � � � O O � O O ' V yr (A (A (A (A w' 00 (C') LO O O Il LO O (() N C LC) (O (O V V O O 4) CS) OJ O M L 0 O (n m (C) (n O O O co O) N U O ��1111 0) 0) 0) Cl) Cl) (O CO N I— O) LL W E (0 O O V V co co co V Il- O Y y Q Q r-: UU (o � � U' rS 00 6-1U 0? O Z u 2 U � � w w w w w Y O O O O O O V 4 N m L U N ❑ O to ❑ C) N ❑ CD El ElO El Cl ❑ C)LON to h � L No Q w LL D o R � Cn J N m uj z co 2E d 3 N � Q O O a O J m d 9+ C 0) Q d w Q Q m m m a U m c+) o m rn rn rn LO LO 00 rl- co 00 00 co E 0 C) 0 0 LL (n N V I� a) (n N N V co L m v N O � N � N N X I- N N O LO LO LO LO V O N m O LO L V O V Cl) Cl) O) CY) vi O O I-z O (O O (O O LO (f) fA O O O C) It y N 61) � � � � � � "O Ef3 Efl ff3 R d p LL Y V O O O C) C) C) C) O C) C)0 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 Ff} 69 ff> (f) (f) (f) 69 tR ff) (f) (3) N C'1 p Cl) E9 N O O O O O O O O O O O O C C O O O O O O O O O O O d R O O C) O O C) O O O C) C) p (f) 69 4f> 4f) ff3 ffl 69 64 V> ff3 (fl 7 C C U d O O O O O O C) O O O C) Q v O O O O O O C) O O O o o 0 0 0 0 0 0 0 0 0 LL R ff3 64 fA 4H 6 ffl (f3 64 EA ff) ffl ffl Q N C L G7 I-- O O V O V O O O O O u O O O OJ O N O O O O O y 69 LL C fA (f3 r ° G o .N C i U) (O I- I- I- O r- N N V V I- �+ _ d (n N 67 O) O O O I� N N N d U 6 O L O (O ( OJ C) co N N C) CD C)d to CD C) O V V V I-- O i OJ I9 I` D (fl S L y w' N ((') Lo N O N I- 1- 6) 6) Cl) C V V OJ O OJ C) C') N N O O L C N (O (O N C) N M M OJ U O ��1111 V O 6) co O OJ In lf) N N OJ ,--� LL W E CD co Cl) 6) CD O co Cl) 6) O O d ^ Q I� (O (O M V (O (O L6 L6 C Sr' ii ; Ef} Ef3 H} U-} H} H} H} (f) (f} H} H} 0 Z U U Y O O O O O O V 4 m L � U fA ❑ O to ❑ O ❑ O fn ❑ O to ❑ Cl N ❑ O ti c Ln Ln Q U Iv LL � d y ° Y — Z coQ N co coz co d d c o — o Q a o p — wQ co m° a_co co CDm co o co co co v Lo a) LO T 1- 00 co w co I- � E o C) 0 0 r9 R LL (n (O 'IT V M LO L V V O I- 6) m v N O � N � N N X V LC) LO O O O'J OJ O) O) LO LO O N m (7) O) N N V V CO CO M CY) LO O r M M (() C() O O O O O Cl) co M M N N i N N LO LO 0') m C) O C:)- O d d � EA EA EA Efl fA EA Efl Efl R d 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 L O O O O O O O O O O O U y rn 63 ER ER ER EA (» ff3 613 61) EA N C'1 p M SO N O O O O O O O O O O O O U O O O O O O O O O O O d L O O C) CD CD C) O O C) O O p 63 613 6> 6-3 6-3 60, 613 v3 6> 6-3 60, 7 C C U d O O O O O O O O O O O Q v O O O O O O O O O O O o 6 6 6 6 6 6 6 6 6 6 LL R ff3 64 fA 4H ffl EH 64 EA fA ffl ffl Q N C L G) O O O O O O O O O M M u O O O O O O O O O -a r- O O C) O CD C) O O C) V V = y 69 4f3 693 6q I q EF} (f3 £4 6q CO co U) ffl VD- LL C ° G o .N C i U) I- LC) LO N N LO LO V V Qr _ d N N V V OR CR N N Lq Uf U s 0 O CO (O Lr) LO CO CO N N O O d d � - - (D CD LO LO (o CD Cl) Cl) O � � � � � - - � � c�^� y fA EA yr Lrl w' Cl) O O N N I- LO LO co co kn C O O Lq O O P, 00 OJ (O O O L C co O co N N (O mII- r U O ��1111 CO I- V U') In N N P- � ,--� LL W E O O 6) O O In In co M Cl) co LC CD Q M (O (O O O L L C OJ (O (O t ii H} Ef3 H} H} H} U3 4f} H} H} 0 Z U U Y O O O O O O O V 4 N m U In Q N 1:1C) CD CDco1:1C) N C) In U] M le It (O h N (OD 00 N Ln = O O (O O CO Q d R co $ z a d m = a N R C 3 w Q U U (D M 2 LO CD 0 m LO co co_T 00 00 co (o co I- E o 0 C) C) LL En 00 V V L O COO V O � U N + m v N O � N � N N X V O V I- O � 07 00 N N N O N m O O O I� O r- LO U') V VLO cc O f-z M O (6 6) (A M to 0) sv m r` I- � m m LO 00 y ffl ff} H) ffl 64 fA fA fA ffl L4 LL p Y V 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» ss e» 61) e» 69, e» e» 69- e» 6q C'1 p R m O o O O O O o O O O O c c O o O O O O o O O O O 00 06 0 00 0 0 0 0 Q7 EA 64 4A 6f3 6q 69 69 40- 60- 60, fA N c U d O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 6 6 0 0 0 6 6 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4H ffl 69 Q N C L G7 O O O O O O O O O O I-- V O O O O O O O O O O O $ cy m E 6% 6f} ffl A 6f f Ef} 6% 69 } EF} N f} y V3 LL C L= ° G o NCL d U) LO O CNf7 - O - t00. COD. � � Cam'). Ur C s 0 O O O M O M M M V V O d d I- Ef3 r- 0 V) U) W - N N CMO O N LA M w, N W 7 00 O co V O V co co CD O � L O N O N CD O CD N N Cn Cn CD U O N O N CD O CD I- V LL E co O CC) Cl) co V_ Q � � f� U> �> U> � La � �V Y 61� --� Y O L Z U �j U O Y O Q L L L L L m V ❑ O ❑ O w ElO El CD ~ El O ElO El h q 1n Cl) LO m m LL LL N� - o co a H C7 2 N R co c a� 2 Z Z o 0 0 w 0.0 £ a d d 0 y � � � c � T N T N.2 H a a a) E O E E a -0O O T � T, � N w Q C7 as U = d U co co co co (� O O Cn M I� LO �_` 00 Cb Cb co L m •E O O O O N LO O LL Cn Cn M Cl)M I� L Cn N M U N N m v N O � N � N N X N 0 O) U') Ln r- � co co O O O _ -4 4 M M M M M M (6 O R 00 00 000 � Cl) O 0 N 61) y (fl 64 ff} H) 60- - ff} H) � EA EA Efl R d p LL Y V 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 an R m O O O O O O O O O O O c c O 0 O O O O O O O O O m R 0 0 0 0 0 0 0 0 0 0 U) N c U d O O O O O O O O O O O Q v O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4H ffl (H Q N C L (D O O C) r2 O O O O O O V O O7 OJ O O O O O O d N O O N N 6% Efl V% CA (l% (l% 2 j V n aw w N (f} ffl EA EA EA LL C ° G o .N C i U) Ln 6) O) N N Cl) co V O �+ (D U) Cl) N N CO CO N 07 N N N O U ILI.L E O CC) O O (O CO O O (O (O CO 613 d (fl r- r- CO CO r- V V N O L cL (fl (fl (O (fl (fl r` r` L6 L6 C 'y + Cf} EA f6} d) EA EA Cf} lb} fA d) ++ V w' to O O V V CD to co 00 V O r` C7 Cl? 6) 6) O O V V O O L ��1111 0 (O co M Cl) 00 co 1l- 1- N O LL W E V O O In l0 O O O O L ~ d j` Q lC) L6 L V V CO (O L6 L CO 6p, Sr' O z U 2 U � � w w w � w Y O O O O O O V m L U O N ❑ 0 N ❑ 0 N ❑ 0 N ❑ 0 N ❑ 0 El h � QNi CD to Q U a LL LL Rm a m °) z z LO 3 °) 'm o Tcl d f0 0 J N C7 C N C CL d >. O O t E L w N N CO W Q Y J J J d (� 2 Cl) VC\l Ln (O CO O �` N 00 N N I— .E O Cfl R LL Lo (n 0 m O V O L M CD N cq M m v N O � N � N N X O M Cl) O O (O (O (O O O (O O N 00 O? O O O O N O O N 00 (O -4 4 O O (O O O (O O W O O N N �t fA H} y N co 61) � ff} fA � 0 69 M M d d � Efl Ef3 EA R d p LL Y d V O O O O O O O O O O L O O O O O O O O O O O V y 6q 69 fA 61) (A 691 69 Cl) (A (A Cl)p in (Q Ef3 E9 R d O O O O O O O O O O O u O O O O O O O O O O O d L O O C) CZ) C) CD C) O O O p 64 69 4A V> fA 69 64 4A 4A ff3 fA 7 C C U d O O O O O O O O O O O Q v O O O O O O O O O O O C; 6 6 6 6 6 6 0 6 6 6 LL R ff3 69 4A 613 613 69 69 4A 413, 613 64 Q N C L 0 O O O O O O O O O O O u O O O O O O O O O O O -a O O O O O O O O O O O 2 Efl ff} ff} 6f} (!)- Efl Efl (!-} 61) f!> (f} U) LL C ° G o .N C i Vl V Lf) LO O) O O O Cl) O O M �+ _ d Vl N O O 7 N O0 O d E co r- r O0 O0 00 co Lo ff> V} co C\lO i O0 (n (6 O0 O0 + Ef} EA ff} Ef3 Ef} Ef} Ef} GO ++ V N N O O O O M O L C N (O (O C) C) O 0) m (() C) U O ��1111 co In Lo C) O (O (O N N LL W E 0) In V) � 0) 0) 00 H) M d ^ Q (O V V I- rl 6-1 C tr" ii ; H} La ff} ff} Ef} Ef} Uf l ff} H} 0 Z 0 � U U 2 w Y O O O O O m L U CD co 1:1N C) N 1:1CDN 1:1CDN O CDCDN LO O N w It co L) M ❑1 00 ❑1 ao *o ❑1 ❑1 ❑1 *D Q N U LL LL V� d y Y o o E � w R z a o c c A d c 0 O N N 0) O L E .. E .. Q d y _cm N a E N N N w Q O O a a_C) 0-C) (� 2 M V CY)00 C) C) C)LO �` N I- M O) 6) 6) I- •E O N C\j O O O C.0 R LL CD LO (n N CO V 00 a) M O M O L m v N O � N � N N X LO LO (6 (O 6) 6) O O M co N O N m r- r- 00 00 I- r- 6) 01 6) 6) 6) 67 6) (O (6 O O I� m M M 6) 6) LO LO N N (0 (0 00 00 N N O y Efl 61) �_ (f} 69 - �_ fA ff} 6fl d � "O EA Efl 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» (» (» (» (» 69r 69- 60- 69, C'1 p R m O O O O O O O O O O O u O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 3 sh (» e» (» (» (» (» e» (» (» (» U) C 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 0 0 6 6 6 0 6 6 6 6 0 LL (L6 69 69 4A 60- 613 V9 69 6A 4H 613 69 Q N C L G) O O N N O O O O O O O u O O O O O O O O O O O -a C O O co Cl) CD CD CD C) C) C) 00 00 U) EA EA LL C r ° G o .N C i U) N 00 N N LO LO 6) 6) I- r- (O �+ _ d N V V (D (O O O I� � N N O U N �/ L O O O I 1-4 (n (n 6) 6) 6 (n (6 ILI.L E y I� 6) 6) co co 6) 6) C) �+ d r- M M co- co co 00 00 I- O L �/♦1 HS 163 f6- H) ff3 S., (f} H) SO cyJ yr ,� w' co co V V (6 (D 6) 6) 6) 6) V C � OO OJ N N OO cq N N O L �1��111 O M M V V (O (O cO (O 1— Il- 6) U O LL �y E OO 00 — r Cl) co N N N N CD> i.i Ef} Ef3 ff} ff} U'> U'> Ef3 ff} ff} ff} ff} � Z U U O u m V O 00 00 1:1 C) U) CDN O N CDU)N 0 N r.- W) (~G M M N CO Y � LLI T d Q d T t O L Uco 0 _ L Z Z Lo E Q d (D > i T m v U a) L o R 3 m CL a w Q a a° in in U) C/) (� 2 M h N co M N LO �` OLO N (0 co 00 00 00 I— •E O N O 00 O O LL (n LO O N V OU) C)(O L M 00N OJ M m v N O ti N N N X N O O O O O co co LO IX) 0 p N m 0 (O (O LO O LO V V N 1� N N O6 O W M O i V) r- � 1- �) r co t00 m � N y (fl 69 (f} 69 Efl 61) �} _ � EA Efl EA R d p LL Y t) 0V O O O O O O 0 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 C'1 p R m C) 0 0 0 0 0 0 0 0 0 0 c c 0 0 0 0 0 0 0 0 0 0 0 m R 0 0 0 0 0 00 0 0 0 0 U) C c U d C) 0 0 0 0 0 0 0 0 0 0 Q v C) 0 0 0 0 0 0 0 0 0 0 0 0 06 0 0 0 0 0 0 0 LL R ff3 69 4A 60- 613 69 69 4A 4H 693 b9 Q N C L G) O LO LO I` O t` O O O O O u O O O O O O) O O O O O -a r- O M co Cl) O M O O O O O 2 y Efl EA �} V> � fl A E EA fA f Efl (fl U) LL C ° G o .N C i U) (0 (0 (0 (0 O (0 LO LO I- I- LO �+ _ d U) O (f) N O N (0 (D V V U N L O m 00 00 1l- O I- r— � r` 1- 0) d LL d O W m W H) co 0 CDC) C) LO �+ 00 0 � � � � l < _ _ LO W C O O q W � N N M M N O L 0 OJ N N m 1l V (O (0 (O (O (O U p ��1111 O 0') 0') W) � co C) r-- � V LL W E co Cl) O M co LO LO OJ 00 N i.i Ef} Ef3 ff} ff} Ef} Ef} ca ff} U-} H} H} 0 Z U 2 U � � w w w w w Y O O O O O O V U 0 N ❑ 0 N ❑ o ❑ 0 N ❑ 0 N ❑ 0 co O (O 0 M Q � c LL � Q R Z 0 d 0 J u d N c a a w a) E a m c m �,N ° w Q cYn U) d U H H H (� 2 N 0') (O O_ LO �_` O) O) 0') V co N I — E O O O ^ O N LL (n 60] ((00 m coC00 a) N V N I� L U � x � x O� m v N O ti N N N X o) I- I- O O V V 00 O co O O N m N CO CO � r- 00 Oo 01 O 0) O _ M 6 6 Gi 6 4 O -4 (O O 00 CO O 0 I-- (f) II- I\ i N N N O O � N N 00 d d � � Efl EA EA Efl Efl EA Efl p LL Y t) 0V O O O O O O 0 O O O O) O O O O O O O O O O N L O O O O O O O O O O (D V y (f} 69 fA (A (A 6q 69 fA (A 60- N 0 C'1 p ,It R m o 0 0 0 0 0 0 0 0 0 0 c c 0 0 0 0 0 0 0 0 0 0 0 m R 0 0 0 0 0 0 0 0 0 0 0 p c» E» f» E» E» c» E» f» f» E» 6qs rn c U d 0 0 0 0 0 0 0 0 0 0 0 Q v 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LL R ff3 64 fA 4fl ffl 64 64 fA 4A ffl fq, Q N C L G7 O O O I` t` t` t` V O V u O O O O C7 O O O O O O -a C O O O Cl) Cl) Il- � I` O r O 2 i Efl ffl EA V ((DD V} CO N y _ _ 69 Efl ff) (f} LL C fA Ffy r3 ° G o .N C i Vl LO V V O O N O 0) O o) LO �+ _ d Vl LO (O (D 'IT V o) 6 Cl) O Cl)) Co U N s 0 6 v v of 6 r-_: r-� (D O (o 6 d d� v o 0 0 0 - - Lo 6r V) v 0 o o Cd � � V> C L 4.+ N O a7 r- N N LD O LD (O L 0 (O co co Cl) Cl) O 0 Cl) O Cl) (D U p ��1111 ,I- N N N N O0 00 V O V O LL W E N co 0o O O lD lD 0o O (O V) d ^ Q I� 06 O) (O (O (O (O L6 V> CO N Sr' > H} U), (f} ff} Ef} H} uj (f} ff} M O Z (» U 2 U � � w w w � w w Y O O O O O O OL V N m t N U CDN ❑ o to ❑ o 04 N ❑ CD It Elo ❑ o 0 N N c�0 ti )i cO.) 2 00 (�D O O N Q uj �p Y m d LL d L 0 E E w c �N `° o Z o Y Y o 0 d c T Y C T (D c) a CL � > w Q N d U (� 2 N I-- I— In In LO LO �_` O 00 00 LD LO — � •E N O O LL (n Il- O N O a) O O O N L U N N m v N O ti N N N X V V O O LO LO V V M O N m N N O O M Cl) 00 00 V cli - O O M M -4 -4 N O i � H} fA 00 00 M Cl) CO N C4 � ff3 t d "a Cf3 EA EA R d p LL Y d O O O O O O O O O L U y 609 � 6q � 6q 6q 6q bq � C'1 p f6 u 0 C) C) 0 0 0 0 C) C) 0 0 0 0 00 0 0 0 3 EH 63 ER ER EPr 6c3 ff3 ff3 ER y c a � 0 0 0 0 0 0 0 0 0 c LL R 604 6q bq bq b 61�, 6-, Q N C u O O V V O O O O V N_ N M M C 0 6% 6 c0 � y Cf} EA EA ffl EA LL C 0 O .N C i y V V I- r- 00 00 O �+ _ �/ d U) t0 (D V V OJ 07 O O O y d I.L v v rn rn M O L � � � S9 � � N cy^J N yr (� EA ^' W C M M O O U� U� N N O O L 0 M�11 co CC) Cn co co co CO 00 U p co cc 00 LL W E M Cl) Cl) Cl) O� O� V V 00 y j� Q N N OJ OJ I_ pl N N O S i.i Ef3 H} U-} H} H} H} U3 4f} N\ � Z U Y O O O O O V 4 N m L U) U) co U) U) CJ O Cl) O N 1:1O CO 0 O ti d N M ti w 7 Q c Q � s N co 0 d y p :1 m R N Z Z E 7 L R E r a a = N w Q U 2 d rn (� 2 CM O co V A (0 0)LO - M O LO E O O O LL N to 7 O U) M N CO V f6 U) * x m x 16 C14 m Cl) x m 00 0 00 F- (D (D LL LL 0 — _j \ \ 0 00 C\l 2C\l 00 a c 4 4 C CY 2 LL C; C; k LL C (D (L k � \ (D ca § � � � ^ � /2 0 LL E >(D 5 z c!) 7 0 CY) CY) \ \ / CY) CY) 64 m E E Z Z CL E LU r a) co 0 co E CD CY) >1 m 0) U*) I— E (D m LL cn 0 co w z Buffalo Grove Firefighters' Pension Fund Quarterly Disbursement Report All Bank Accounts December 1,2023 -February 29,2024 Check Invoice Check Date Number Vendor Name Amount Amount 12/07/23 50178 Sawyer Falduto Asset Management,LLC 52-190-01 Investment Manager/Advisor Fee 1,500.00 Check Amount 1,500.00 12/11/23 30530 Lauterbach &Amen,LLP 52-170-03 #85004 11/23 Accounting&Benefits 1,145.00 52-170-06 #85004 11/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325.00 12/31/23 50179 IFPIF 52-195-02 Other Fee&Expenses 10,855.08 52-195-03 Management Fee 5,864.68 52-195-05 Other Expenses 128.45 Check Amount 16,848.21 01/16/24 30535 Lauterbach &Amen,LLP 52-170-03 #85928 12/23 Accounting&Benefits 1,145.00 52-170-06 #85928 12/23 PSA 1,180.00 ACH Amount(Direct Deposit) 2,325.00 01/31/24 50180 IFPIF 52-195-02 Other Fee&Expenses 2,315.33 52-195-05 Other Expenses 287.86 Check Amount 2,603.19 02/08/24 30540 IPFA 52-290-25 2024 Spring Pension Seminar Registration 0.00 52-290-25 Stanley,L-50% 130.00 ACH Amount(Direct Deposit) 130.00 02/12/24 30541 Lauterbach&Amen,LLP 52-170-03 #86712 01/24 Accounting&Benefits 1,180.00 52-170-06 #86712 01/24 PSA 1,215.00 ACH Amount(Direct Deposit) 2,395.00 02/29/24 50181 IFPIF 52-195-02 Other Fee&Expenses 1,911.90 52-195-05 Other Expenses 1,332.39 Check Amount 3,244.29 Total Payments 31,370.69 See Accountants'Compilation Report 104 of 217 11-1 Buffalo Grove Firefighters' Pension Fund Quarterly Deduction Report All Bank Accounts December 1,2023 -February 29,2024 Check Invoice Check Date Number Vendor Name Amount Amount 12/29/23 30532 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance- 12/23 12,050.51 ACH Amount(Direct Deposit) 12,050.51 12/29/23 30533 Internal Revenue Service 20-230-00 Internal Revenue Service 50,540.46 ACH Amount(Direct Deposit) 50,540.46 01/31/24 30536 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-01/24 12,050.51 ACH Amount(Direct Deposit) 12,050.51 01/31/24 30537 Internal Revenue Service 20-230-00 Internal Revenue Service 50,568.40 ACH Amount(Direct Deposit) 50,568.40 02/29/24 30542 Village of Buffalo Grove-Insurance 20-220-00 Medical Insurance-02/24 11,676.57 ACH Amount(Direct Deposit) 11,676.57 02/29/24 30543 Internal Revenue Service 20-230-00 Internal Revenue Service 50,568.40 ACH Amount(Direct Deposit) 50,568.40 Total Payments 187,454.85 See Accountants'Compilation Report 105 of 217 12-1 Buffalo Grove Firefighters' Pension Fund Quarterly Transfer Report All Bank Accounts December 1,2023 -February 29,2024 Check Invoice Check Date Number Vendor Name Amount Amount 12/11/23 30531 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 210,466.12 ACH Amount(Direct Deposit) 210,466.12 12/21/23 30534 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 22,600.00 ACH Amount(Direct Deposit) 22,600.00 01/25/24 30538 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 89,170.24 ACH Amount(Direct Deposit) 89,170.24 01/25/24 30539 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 21,500.00 ACH Amount(Direct Deposit) 21,500.00 02/26/24 30544 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 21,200.00 ACH Amount(Direct Deposit) 21,200.00 02/28/24 30545 The Northern Trust Company 13-800-01 Buffalo Grove Firefighters Pension Fund 104,954.41 ACH Amount(Direct Deposit) 104,954.41 Total Payments 469,890.77 See Accountants'Compilation Report 106 of 217 13-1 �BMO (Bank IN.A. P.O. IBox 755 BMO 0 Chicago,IL 60690 Toll Free: 1-877-895-3278 ACCOUNT NUMBER: STATEMENT PERIOD 03/01/24 TO O'3/31/24 PAGE: I OF 2 BUFFALO GROVE FIREFIGHTERS PENSION FD, LAUTERBACH & AMEN LLP AS AGENT FOR BUFFALO GROVE FIREFIGHTERS PENSION FD, 668 N RIVER RD NAPERVILLE IL 60,563 ITEMS ENCLOSED 0 HYBRID CORPORATE CHECKING ACCOUNT NUMBER ACCOUNT SUMMARY YOUR PREVIOUS BALANCE WAS 10,097.03 YOUR TRANSACTIONS THIS PERIOD INCLUDED-. 3 DEPOSITS 656,680,.28, 10 WITHDRAWALS 656,741.27 INTEREST PAID WAS .00 YOUR ENDING BALANCE WAS 10,036.04 YTD INTEREST PAID IS 126.20 YTD INTEREST WITHHELD IS .00 TRANSACTIONS LISTED BY DATE POSTED DATE WITHDRAWALS DEPOSITS POSTED TRANSACTION DESCRIPTION OTHER DEBITS OTHER CREDITS MAR OS CCD SCHWAB BROKERAGE MONEYLINK 22470S17328 102,442.45 MAR 07 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 102,442.4S MAR 11 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 260.00 MAR 12 CCD SCHWAB BROKERAGE MONEYLINK 22470517328 118, 237.83 MAR 14 FED WIRE TRANSFER CREDIT 240314717150 436, 000,.00 MAR 14 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 118,237.83 MAR 18 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 2,60S.00 MAR 22 ACCT ANALYSIS SERV CHG 16.67 MAR 2S PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 1,075.00 MAR 28 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 19,800.00 MAR 29 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 11,676.57 MAR 29 PPD BUFFALO GROVE FF ACH OFFSET T-LABACHMEN 349,960.70 MAR 29 CCD IRS USATAXPYMT 48944673717 5,0,667.05 107 of 217 MEMBER FDIC �BMO (Bank IN.A. P.O. IBox 755 BMO 0 Chicago,IL 60690 Toll Free: 1-877-895-3278 ACCOUNT NUMBER: STATEMENT PERIOD 03/01/24 TO O'3/31/24 PAGE: 2 OF 2 BUFFALO GROVE FIREFIGHTERS PENSION FD, LAUTERBACH & AMEN LLP AS AGENT FOR BUFFALO GROVE FIREFIGHTERS PENSION FD, 668 N RIVER RD NAPERVILLE IL 60,563 CLOSING DAILY BALANCES AND DEBIT TOTALS DATE BALANCE DEBITS DATE BALANCE DEBITS MAR 05 112,539.48 0 MAR 18 443,232.03 1 MAR 07 10,097.03 1 MAR 22 443,215.36 1 MAR 11 9,837.03 1 MAR 25 442,140.36 1 MAR 12 128,074.86 0 MAR 28 422,340.36 1 MAR 14 445,B37.03 1 MAR 29 10,036.04 3 TRANSACTION SUMMARY INFORMATION DESCRIPTION NUMBER AMOUNT DESCRIPTION NUMBER AMOUNT ACH DEPOSIT 2 220,68,0.28 ACCT ANALYSIS SERV C 1 16.67 ACH ORIGINATION DB 8 60'6,057.55 ACH DEBIT 1 50',667.05 INCOMING WIRE 1 436,000.00 108 of 217 MEMBER FDIC Quarterly Report Buffalo Grove Firefighters' Pension Fund Presented by: Thomas S. Sawyer, Managing Partner John J. Falduto, Managing Partner Edward J. Lavin, Chief Investment Officer Sawyer Falduto Asset Management, LLC 589 S.York St. Elmhurst, IL 60126 0: (630)941-8560 www.sawyerfalduto.com As of March 31, 2024 109 of 217 EMS= CashFlow and Performance Review ............................................................................................................................................................................... 3 Portfolio Value vs Cumulative Net Investment ............................................................................................................................................................... 4 Holdings ........................................................................................................................................................................................................................... 5 Transactions .................................................................................................................................................................................................................... 6 MarketCommentary ....................................................................................................................................................................................................... 8 There maybe a slight difference in the ending value between this report and the Schwab statement due to accrued income,timing of transactions, and/or rounding.The Schwab statement continues to be the official custodial record for the account. 110 of 217 Buffalo Grove Firefighters' Pension Fund SFAM Page 2 of 11 As of March 31, 2024 EMS= Cash Flow Quarter 1 Year to Date Beginning Market Value $476,701 $476,701 Contributions/Additions $442,548 $442,548 Distributions ($414,805) ($414,805) Income/Expenses $3,407 $3,407 Ending Market Value $507,851 $507,851 Performancei Quarter 1 Year to Date„ Index Return Return S&P 500 Composite 10.6% 10.6% Russell 2000 5.2% 5.2% IVISCI EAFE Net 5.8% 5.8% Blended FI (0.2%) (0.2%) M-Star MMF 1.2% 1.2% Performance 1 Year 3 Year 5 Year 10 Year Index Return Return Return Return S&P 500 Composite 29.9% 11.5% 15.0% 13.0%. Russell 2000 19.7% (0.1%) 8.1% 7.6% MSCI EAFE Net 15.3% 4.8% 7 3% 4 8% Blended FI 2.3% (1.8%) 0.7% 1.4% M-Star MMF 4.9% 2.4% 1.8% 1.2% Returns for periods exceeding 12 months are annualized. Disclosures Information in this report was compiled using data from the custodian available as of the publishing date.While we believe the data to be reliable, we do not independently verify pricing and valuation data. Please refer to the official statements provided by the account custodian. All date period references are on a calendar year basis. Fiscal year reports are available upon request. Past performance does not guarantee future investment results. 111 of 217 Buffalo Grove Firefighters' Pension Fund SFAM Page 3 of 11 As of March 31, 2024 EMS= V I qplllllI iii Illy 111 11 !!11 F'orrs ion and $90,000,000 ;60,0f.),000 $30,000,000 $O ($30,000,00 b ($OO,000,OOq VCa 1a yrry �x t, Account Value Net @r vestrnept Inception to Date (9/30/2010) Beginning Market Value $28,366,426 Receipts of Securities $0 Contributions/Additions $35,582,165 Distributions ($117,729,914) Ending Market Value $507,851 Investment Return $54,289,174 112 of 217 Buffalo Grove Firefighters' Pension Fund SFAM Page 4 of 11 As of March 31, 2024 EMS= (,iffa�o (,drove, I IiCll�ghl.ers' Pt,mJon und Moody's S&P Current Annual Weight Description Symbol Rating Rating Quantity Value Yield Income Cash Equivalent .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... Cash i let Cash ivalen 100.0% Schwab Government Money SWGXX $507,851 4.9% $24,986 Fund 0 Buffalo Grove Firefighters' Pension Fund SFAM Page 5 of 11 As of March 31, 2024 EMS= Buff"bGIrome PensinnFund Frnm Deoember31' 20I3to Varch 31 I0I4 Accrued Trade Date xxmvuv Description Quantity Amount /myes 3/28/2024 Deposit Schwab Government $33'921 Money Fund 3/27/2024 Deposit Schwab Government $3'890 Money Fund 3/15/2024 Income(Reinvested Schwab Government 2,023.35 $o'ozs Dividend) Money Fund 3/14/I0I4 Deposit Schwab Government $23'773 Money Fund 3/13/2024 orpusu Schwab Government $18'244 Money Fund 3/142024 Withdrawal Schwab Government $118'238 Money Fund 3/8/2024 Deposit Schwab Government $53'204 Money Fund 3/6/2024 Deposit Schwab Government $66'534 Money Fund 3/6/2024 Expense Schwab Government $z'snn (Management Fee) Money Fund 3/4/2024 Withdrawal Schwab Government $102'442 Money Fund 3/1/2024 Deposit Schwab Government $69'084 Money Fund 2/29/2024 Deposit Schwab Government $23'8e4 Money Fund 2/28/2024 Deposit Schwab Government $9'454 Money Fund 2/26/202* Withdrawal Schwab Government $104'954 Money Fund 2/23/2024 Deposit Schwab Government $29'824 Money Fund 2/22/I0I4 Deposit Schwab Government $42 Money Fund 2/21/2024 Deposit Schwab Government $5'696 Money Fund 2/16/2024 Deposit Schwab Government $19'154 Money Fund 2/15/2024 Deposit Schwab Government $33'754 Money Fund 2/15/2024 Income(Reinvested Schwab Government 1,872.90 $1'873 Dividend) Money Fund 2/9/2024 Deposit Schwab Government g28 Money Fund I/8/2024 Deposit Schwab Government $28 Money Fund 2/1/2024 Deposit Schwab Government $23'679 Money Fund 1/31/2024 Deposit Schwab Government $orr Money Fund 1/19/2024 Withdrawal Schwab Government $89'170 Money Fund 1/18/2024 Deposit Schwab Government $23'611 Money Fund 1/16/2024 Income(Reinvested Schwab Government 1,010.32 $z'ozo Dividend) Money Fund Buffalo Grove Firefighters' pension Fund SpAxx Page 6ofzz xsofMarch 31' 2024 EMS= Bu��bGIrome PensinnFund Frnm Deoember31' 20I3to Varch 31 I0I4 Accrued Trade Date xxmvuv Description Quantity Amount /myes 1/9/2824 Deposit Schwab Government $6 Money Fund 1/4/2024 Deposit Schwab Government $23'042 Money Fund Buffalo Grove Firefighters' pension Fund SpAxx Page rofzz xsofMarch 31' 2024 Ins 11111111!1 i iii I iiiiiiilw if I 1; 1 1 1 iii I I I I I 01i ME 011 Economic Overview IQ 2024 Key Observations • Economic dlata reflects strong fundamentals for the labor market and consumer behavior • Inflation is slowing, but continues to be higher than the Federal Reserve target of 2.5% • Anticipated (Fed F'ulndl Rate cuts have been pushed back to the surnimer of 2024 • Equity market Iperfo,rimanice continues to,be strong driven,by economic optimism • Interest rates increased during IQ on lingering inflation concerns • Consumer confidence and spending continue to Ibe important economic catalysts "Magnificent Seven" Equity Performance llimpact • "Magnificent Seven" includles Apple, Microsoft,Alphabet,Amazon, Nvidia, Meta and Tesllla • Approximately 30%of the S&P 500 Iperfo,rimanice is attributable to the "Magnificent Seven" 1-11NAaginificeint Seven" Ainin dliize Ilf erfairr'nairice 67% 60% 45% 42% 30% 30% 25% 12% 15% 12% Cne)(ear 'rhree)(ear Rve Yeair 111111111111IMaigriififficeintS�eveini IIIIII llFl S&P 5010,Equal Welg,hit • Consumer confidence has stabilized with lower inflation levels Cloinsilaimer IPri Illndex - Inflation Consuilmeir Confidence 10,01% 130 120 110 2 4,01% U 100 L0% 901 March 2021 Septeninber 20,22 IMairch 20,24 Mairch 2'021. September 2022 March,20241 116 of 217 Buffalo Girove, Firefighters' Pension Fund SFAM Page 8 of 11 As of Mauch 31,2024 Ins 11111111!1 i iii I iiiiiiilw if I 1; 1 1 1 1 1 1 1 1 i1i ME i i Ali 11 ; 1 iiill Equity Market Overview Market Observations • Equity market performance in IQ was strong d�iriven by economic optimism, • US large cap stocks continue to (lead the way driven, by growth-oriented companies • The artificial intelligence investment theime has provided a significant tailwinid for equities • Corporate earnings have withstood an antic'ilpatedl decline as econiom,ic growth reilmains solid S&P 500 Performance Overview 0 "Magnificent 7"total return, in IQ was 17.1% continuing to outpace the S&P 500 return • Communications, Energy and Financial were the best performing sectors • Reall Estate wais the worst performing sector with a -0.5% return for IQ l IN 0 § 1 1 Equity Indices IQ 2024 1 Year 3 Year 5 Year 10 Year Annualized Annualized Annualized Annualized S&P 500 - US (Large Cap +10.6% +29.9% +11.5% +15.01/10 +13.0'% Russell 2000- US Mid/Small Cap +5.,2% +19.7% -0.1% +8.1% +7.6% IVISCI EAFE -International +5.8% +15.3% +4.8% +7.3% +4.8% 0 Growth companies i the S&P 500 have dliriven stiroing ireturnis over the last three years Growth of ll�-'1,000,0100 - Totaill Return $1,4010,00101 $1,385,953 $1,200,00101 $1,14 .........../ $995,893 $1,011010,00101 ............... ......... $800,001101 March, Mard'i II" larch Mlaiii 20121. 2022 2023 2024 —S&IP S010 lindex MSCII EAIFE Illndex —ill 20100 Ilrl 117 of 217 Buffailo Grove Firefighters' Pension Fund SFAM Page 0 of 11 As of Mauch 31,2024 Ins 11111111!1 i iii I iiiiiiilw if I 1; 1 1 1 iii I I I I I 01i ME 011 Fixed Income Overview Market Observations 0 Federal Reserve met twice cluring IQ andl left the IFed Fund Rate unchanged at,5.50% • Anticipated IFed Fund Rate cuts have been pushed back to,the surnimer of 2024 • The market is currently anticipating a total of three Fed Fund Rate cuts during 2024 Fixed Income Yield Overview • Yield curve Imovedl Ihigher during IQ especially for miaturities greater thain one year • Concerns over the timing of the first Fed Fund Rate cut pushed interest rates higher • Short term yieldls remain ineaiir multi-year Ihiglhs Ibased oin the outlook for ineair-teirm,inflation • Investors are purchasinig shoirt-term securities to lock-in attractive yields and avoid equity market volatility • Economic conditions remain strong anchored by robust employment data and consumer spending U.S. Treasury Yield Curve 6.0% 5.5% 5.0% 4.5% --woo 4.0% .......... ................. 3.5% Imi 3M GI M ly 2Y 3Y SY 7Y 1.0y 30Y 1 2/31/2a22 -12/31/20,23 3/31/2024 Federal Reserve Funds, Rate - Market Forecast 5.5% 5.0% 4.5% 4.0% Actual Actuall Actuall Forecast Forecast Forecast September Doceirribeir IM a irch J ui in e Septeirribeir Deceirnbeir 202'3 202'3 2024 20124 202'4 2024 118 of 217 Buffalo,Girove, Firefighters' Pension Fund SFAM Page 10 of 11 As of Mauch 31,2024 Ins Fixed llncome Overview(contlinued) Fixed llncome—Broad Market Characteristics • Mu arket yiellds increased cllulriing 1Q as inflation remains persistently above the Fedlerall Reserve target level Ilnclex YT'D Total Duration Market Average Return Field Coupon Wended u d Income Benchmark" ? . � .1 , . r 4,0 BairclaVs U.S.Government -0.93% 5.93 4.43% 2.67% Barclay'sUJ.S.Intermediate Government/Credit -0.15% 3.69 4.70% 3.44% Looking Ahead Economy • Recessionary concerns are decreasing ais U.S. economic growth,remains solid • Federal Reserve rate cut expectations have been(pushed into the summer of 2024 • Ecolnolm'ic optimism reflects strong employment and consumer spending trelndls Equity Markets • Equity markets are off to ai stroing start in 2024 though the potential for a near-term Ipullback is growing • Artificial 'iilntelllll'igenice investment theme has created significant momentum across various equity sectors • Increased Imarket volatility is likely as the Noverill elections come into focus Fixed Income Markets • Short-team, 'investments continue to providle an,attractive yield alndl a good alternative to cash holdings • Long-term interest rates (have settled into ai range consistent with,historical norms • Investors looking to lock-in yields will turn their attention to longelr-maturity securities 119 of 217 Buffalo Grove Firefighters' Pension Fund SFAM Rage 11 of 11 As of Mauch 31,2024 Buffalo Grove Firefighters Pension Fund Statement of Results Illinois Firefighters Pension Investment Fund Currency: USD ($) January 2024 2024 YTD Beginning NAVs: Beginning NAV 80,417,929.32 80,417,929.32 Contributions 110,785.31 110,785.31 Withdrawals 436,000.00 436,000.00 Net Time Weighted Activity -259,770.05 Allocation Balance 80,158,159.27 Allocation Percent 0.96% Income & Expenses: Unrealized Gain/Loss -172,528.22 -172,528.22 Realized Gain/Loss -27,126.42 -27,126.42 Dividend Income 28,040.40 28,040.40 Interest Income 83,617.77 83,617.77 Other Income - - Total Income -87,996.47 -87,996.47 Administrator Expenses (FPIF) - - Other Fee & Expenses (FPIF) 2,315.33 2,315.33 Other Expenses 287.86 287.86 Management Fee - - Performance Fee - - Total Fee& Expenses 2,603.19 2,603.19 Net Income -90,599.66 -90,599.66 Ending NAVs: Ending NAV 80,002,114.97 80,002,114.97 Rate of Returns: Return on Invested Capital -0.11% -0.11% Return on Total Assets -0.11% -0.11% Ownership 0.95% Disclaimer/ Important Information: The Plan Total reflects the total of underlying plan balances,and may not be equal to the sum of displayed columns. Although this report has been prepared using information believed to be reliable,it may contain information provided by third parties or derived from third party information,and/or information that may have been obtained from,categorized or otherwise reported based upon client direction.The Northern Trust Company does not guarantee the accuracy,timeliness or completeness of any such information.The information included in this report is intended to assist clients with their financial reporting needs,but you must consult with your accountants,auditors and/or legal counsel to ensure your accounting and financial reporting complies with applicable laws,regulations and accounting guidance.The Northern Trust Company and its affiliates shall hove no responsibility for the consequences of investment decisions made in reliance on information contained in this report. 120 of 217 NTALMS-20 z z LLa c 0 FL ry ;14 L,LM LM E LA LL z Z, 14 E 0 Itu Buffalo Grove Firefighters Pension Fund Statement of Results Illinois Firefighters Pension Investment Fund Currency: USD ($) February 2024 2024 YTD Beginning NAVs: Beginning NAV 80,002,114.97 80,417,929.32 Contributions 126,170.58 236,955.89 Withdrawals 436,000.00 872,000.00 Net Time Weighted Activity -235,457.71 Allocation Balance 79,766,657.26 Allocation Percent 0.95% Income & Expenses: Unrealized Gain/Loss 1,871,121.36 1,698,593.14 Realized Gain/Loss -52,981.05 -80,107.47 Dividend Income 52,330.65 80,371.05 Interest Income 84,984.24 168,602.01 Other Income - - Total Income 1,955,455.20 1,867,458.73 Administrator Expenses (FPIF) - - Other Fee & Expenses (FPIF) 1,911.90 4,227.23 Other Expenses 1,332.39 1,620.25 Management Fee - - Performance Fee - - Total Fee& Expenses 3,244.29 5,847.48 Net Income 1,952,210.91 1,861,611.25 Ending NAVs: Ending NAV 81,644,496.46 81,644,496.46 Rate of Returns: Return on Invested Capital 2.45% 2.34% Return on Total Assets 2.45% 2.33% Ownership 0.95% Disclaimer/ Important Information: The Plan Total reflects the total of underlying plan balances,and may not be equal to the sum of displayed columns. Although this report has been prepared using information believed to be reliable,it may contain information provided by third parties or derived from third party information,and/or information that may have been obtained from,categorized or otherwise reported based upon client direction.The Northern Trust Company does not guarantee the accuracy,timeliness or completeness of any such information.The information included in this report is intended to assist clients with their financial reporting needs,but you must consult with your accountants,auditors and/or legal counsel to ensure your accounting and financial reporting complies with applicable laws,regulations and accounting guidance.The Northern Trust Company and its affiliates shall hove no responsibility for the consequences of investment decisions made in reliance on information contained in this report. 122 of 217 NTALMS-20 z z :2 r04 Z z LL ef E2 2§ 0 CL CY) 0 ICL eF § Q § �Q L, V) ef LLJ r"I ell LL Lm 0) CN) es z. en m 4w — N> LM ON IN 0 0 E R R E 66 Ln LO Ln V) LO 0 t 4e t A A a Lo o Lm m m on OF s ciat FaiREFIGF a E PEA'14SJiO ll NVL I'MLNI t°UNH) Illinois Firefighters' Pension Investment Fund Monthly Summary January 31, 2024. * Preliminary, subject to change 124 of 217 1111nois Firefighters' Pension Annualized Performance (Net of Fees) Investment Fund Return Summary Einding Jainuary 31,2024 20,0 150 12,6 10,0 E 5-0 0 .Z5 0.0 ............................. ............................. .............. 011 -02 -50 -10 0� Jan-24 3 Months I Year jjtllllllj Tolall Fund Composite IFPIF Policy Benchmark Actual vs Target klocation (%) 50,0 40.0 38,0 3O:0 8 3O 0 26,8 291.0 20.0 4,1 0,0 Fixed Income U.S-Equity Non-U.S.Equity Bean A53eb Other iiiiiiiil Actual Policy Returin,Sumirnairy ­1 Koinith Total Return, Totall Fund Composite _0_11% IFPIF Policy Benchmark 42% Totall Fund Composite excl.Member Funds -0.1% IFPIF Policy Benchmark 42% U.S.Equity Composite 1.11% Russell 3000 1_1% Non-U.a.Equity Composite -1-3% MSC ACWI ex USA IMI _1111% Totall Fixed Income Composite -0-2% Bloomberg US Universal TR 42% Total Real Estate Composite _1.8% Real Estate Custom Benchmark -1-7% 125 of 217 Marquette Associates,Iric Total Fund Composite Asset Allocation Market Value:$8,396.0 Million and 100.0%of Fund lEi"inding January 31,202 Asset Class Market Value %of Portfolio Policy% Total Fund Composite $8,395,962,443 100.0% 100.0% Total Fund Composite excl.Member Funds $8,395,951,233 100.0% 100.0% Total Equity Composite $5,615,018,348 66.9% 65.0% U.S.Equity Composite $3,194,190,540 38.0% 36.0% Rhumbline Russell 200 Large-Cap Core $2,293,868,720 27.3% 25.0% Rhumbline Russell Midcap Mid-Cap Core $739,907,649 8.8% 9.0% Rhumbline S&P 600 Small-Cap Core $160,414,171 1.9% 2.0% Non-U.S.Equity Composite $2,420,827,808 28.8% 29.0% International Developed Equity Composite $1,639,084,828 19.5% 19.0% SSGA World ex US Non-U.S.Large-Cap Core $1,403,527,528 16.7% 16.0% SSGA World ex US Small Non-U.S.Small-Cap Core $235,557,300 2.8% 3.0% Emerging Markets Equity Composite $781,742,980 9.3% 10.0% SSGA MSCI EM Emerging Markets $610,983,500 7.3% 8.0% SSGA EM Small EM Small-Cap $170,759,480 2.0% 2.0% Total Fixed Income Composite $2,331,165,839 27.8% 30.0% Rate Sensitive Composite $2,088,513,818 24.9% 27.0% Short-Term Treasury Composite $227,611,800 2.7% 3.0% SSGA Short Treasury Short-Term Govt.Fixed Income $227,611,800 2.7% 3.0% Core Fixed Income Composite $1,860,902,018 22.2% 24.0% Garcia Hamilton&Associates Core Fixed Income $914,749,657 10.9% 12.0% Brown Brothers Harriman&Co Core Plus Fixed Income $946,152,360 11.3% 12.0% Credit Fixed Income Composite $242,652,021 2.9% 3.0% Emerging Markets Debt Composite $242,652,021 2.9% 3.0% SSGA EM Global Diversified EM Fixed Income $242,652,021 2.9% 3.0% Total Real Estate Composite $385,749,946 4.6% 5.0% Core Real Estate Composite $385,749,946 4.6% 5.0% Public Real Estate Composite $169,932,434 2.0% 2.0% SSGA FTSE NAREIT U.S.REIT $169,932,434 2.0% 2.0% Private Real Estate Composite $215,817,512 2.6% 3.0% Principal USPA Fund Core Real Estate $215,817,512 2.6% 3.0% Cash Composite $63,973,897 0.8% 0.0% Transition Composite $43,203 0.0% 0.0% Member Funds Composite $11,209 0.0% 0.0% 126 of 217 2 Marquette Associates,Inc. '` ,a�lttt ,"w Investment Manager Annualized Performance (Net of Fees) Market Value:$8,396.0 Million and 100.0%of Fund Ending January 31,2024, 1 MO 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date >JJJJ�J> a 1IJ J J I, II JJ J JJ J J I l lJ, I I 1 IFPIF Policy Benchmark -0.2 12.2 8.8 3.4 7.3 6.8 0.8 Oct-21 i li J I i II 1 JJ J I 1 1 J J I J J I ���� I��lll��i�����l��r ��111111111111111111111111111111111111111111111111111111111111111111111111111111111111111����1111111111111111111111111111111111111�1 ������������������� ��111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111��11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111��'jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj�� j�� IFPIF Policy Benchmark -0.2 12.2 8.8 3.4 7.3 6.8 -0.5 Oct-21 I I J J > >I I JJ J J I I - I I MSCI ACWI IMI Net USD 0.2 15.2 13.5 5.6 9.8 8.2 0.3 Oct-21 I 1 JJJ 1 J 11 JJ 1 I I J J Russell3000 1.1 16.4 19.1 9.1 13.5 12.0 2.3 Oct-21 Rhumbline Russell 200 2.3 16.0 25.1 -- -- -- 4.4 Oct-21 Russell Top 200 2.3 16.1 25.2 11.3 15.4 13.4 4.4 Oct-21 Rhumbline Russell Midcap -1.4 17.0 6.7 -- -- -- -1.9 Oct-21 Russell MidCap -1.4 17.1 6.7 5.5 10.1 9.5 -1.8 Oct-21 Rhumbline S&P 600 -3.9 17.3 1.8 -- -- -- -2.0 Oct-21 S&P 600 SmallCap -3.9 17.3 1.8 3.7 7.9 8.6 -2.0 Oct-21 I II 11 ! 1 1 JJ 1 J J J J J J 1 JJ, ,y ! 1 MSCI ACWI ex USA IMI -1.1 13.5 5.9 1.1 5.4 4.3 -2.3 Oct-21 J I J�J,11 1 J J 1 I III I I J l J ! II I I I 1 J MSCI World ex USA IMI NR USD 0.1 15.8 8.5 4.1 6.8 4.8 -0.3 Oct-21 SSGA World ex US 0.4 15.8 9.9 -- -- -- 1.1 Oct-21 MSCI World ex USA 0.4 15.9 9.5 4.9 7.1 4.8 0.7 Oct-21 SSGA World ex US Small -1.7 15.4 3.3 -- -- -- -5.9 Oct-21 MSCI World ex USA Small Cap -1.7 15.5 2.8 -0.7 5.0 4.6 -6.2 Oct-21 a >>1 J 1 I J 1 J 1 1 J J J l,J J, J JJ �� ��� � �i �i��J �',"�,�� r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r�r���l�lllllllllllllllllllllllllllllllllllllllllll �����������������irl�r� ������������������������r��r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1�r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r1r��jjjjjjjjjjjjjjjjjjjjjjjjjr�r ���������������������tttl MSCI Emerging Markets IMI -4.2 7.8 -0.6 -5.9 1.9 3.2 -7.4 Oct-21 SSGA MSCI EM -4.7 6.6 -3.6 -- -- -- -8.7 Oct-21 MSCI Emerging Markets -4.6 7.0 -2.9 -7.5 1.0 2.9 -8.6 Oct-21 SSGA EM Small -2.0 11.8 14.0 -- -- -- 0.1 Oct-21 MSCI Emerging Markets Small Cap -1.7 12.5 15.0 5.8 8.4 5.4 0.4 Oct-21 � J �II I II II J J ! J 1J 1 J J I 1 1 J J J 1 I I J „r 1 ��IIl ��111�1� ����11111111111111111111111111111111111111111111111111111111111111111111�� �������������������� tttttttttttttttttttttttttttttttttttttttttttttttt��ttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttt������������������������������������������������������'r�r������������������r I ttt( Bloomberg US Universal TR -0.2 8.2 2.7 -2.8 1.1 1.9 -3.5 Oct-21 JI J J Jl i 11 J 1 J III�'�'r ' ' '�"�� 11111111111111111111111111111111111111111111111111111111111111111111111111��'�1111111111111111111111111111111111111111111�'1Ni111111111111111111111111111111111111111rlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll��lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllir ����������������� '�tttl Bloomberg US Aggregate TR -0.3 8.2 2.1 -3.2 0.8 1.6 -3.8 Oct-21 I 11 1 J11 J 1 1 1 1 I 1 JI 1 I J 1 1 J 1 1 1 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII���'' '���'t�'�riJ 1111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111� IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 'llllllllllllllllllllllllllllllllllllllllllllllll���������������������������llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll�'�llllllllllllllllllllllllllllllllllllllllllllllllllllll 'r�ttttttttttttttttttttttttttttttttttttttl'�"r Bloomberg US Treasury 1-3 Yr TR 0.4 2.6 3.9 0.0 1.3 1.1 3.0 Mar-23 SSGA Short Treasury 0.4 2.6 -- -- -- -- 3.1 Mar-23 Bloomberg US Treasury 1-3 Yr TR 0.4 2.6 3.9 0.0 1.3 1.1 3.0 Mar-23 127 of 217 Marquette Associates,Inc. 3 Investment Manager Annualized Performance (Net of Fees) Market Value:$8,396.0 Million and 100.0%of Fund Ending January 31,2024, 1 MO 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date I lu I I J I I I I I I II J I 1 1 I J II I J I J I JI J J J J Bloomberg US Aggregate TR -0.3 8.2 2.1 -3.2 0.8 1.6 -3.8 Oct-21 Garcia Hamilton&Associates -0.4 10.1 -- -- -- -- 0.9 Mar-23 Bloomberg US Aggregate TR -0.3 8.2 2.1 -3.2 0.8 1.6 2.2 Mar-23 Brown Brothers Harriman&Co 0.1 9.7 -- -- -- -- 5.5 Mar-23 Bloomberg US Aggregate TR -0.3 8.2 2.1 -3.2 0.8 1.6 2.2 Mar-23 I II I 1J JI 1 1 J J J 1 I I 1 JI J 11 l 1 l 1 JP Morgan EMBI Global Diversified -1.0 9.5 6.6 -3.5 0.6 3.2 -4.6 Oct-21 I 111 I � J I1 11 I I JJJJJ J J JJ J 1. l � 1 1, JP Morgan EMBI Global Diversified -1.0 9.5 6.6 -3.5 0.6 3.2 -4.6 Oct-21 SSGA EM Global Diversified -1.1 9.4 6.2 -- -- -- -4.4 Oct-21 JP Morgan EMBI Global Diversified -1.0 9.5 6.6 -3.5 0.6 3.2 -4.6 Oct-21 J �J J I JJ 1.I l J J J J I I J J J J J J, � r Real Estate Custom Benchmark -1.7 3.3 -8.2 5.5 4.6 7.2 -1.4 Oct-21 I �1�1 11 � lull II 1 l J J J I,I J 1 l J 1 ! I J �1 Real Estate Custom Benchmark -1.7 3.3 -8.2 5.5 4.6 7.2 -1.4 Oct-21 I I .1 1 1 J1JJJ J J I J 1 I ,I I I J J JJ I 1 1 1 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII '�V �I'IIIII �'�ll�� '� rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr� �l�lllllllllllllllllllllllllllllllllllll� �llllllllllllllllllllllllllllllllllllll��tt� tttttttttttttttttttttttttttttttttttttttttttttttt�f�fttttttttttttttttttttttttttttttttttttttttttttttttt'tttttttttttttttttttttttttttttttttttttttttttttttt�f�llllllllllllllllllllllllllllllllllllllllllllllllllr�frrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrl��fff FTSE NAREIT Equity REIT -4.2 16.5 -1.5 5.7 4.1 6.8 -5.0 Oct-21 SSGA FTSE NAREIT -4.1 16.4 -1.4 -- -- -- -5.0 Oct-21 FTSE NAREIT Equity REIT -4.2 16.5 -1.5 5.7 4.1 6.8 -5.0 Oct-21 JJ JJ J JJ J J J JJ N JJ l l J I J 'il' '�'tttl �i �1111111111111111111111111111111111111111111111111111111111�1�llllllllllllllllllllllllllllllllllllllir� ������������������� �����������������������r��11111111111111111111111��111111111111111111111111����������������������������11�1�11111111111111111111111111111111111111� r tt NFI-ODCE Equal Weighted 0.0 -5.4 -13.4 4.3 3.8 6.7 0.0 Oct-21 Principal USPA Fund 0.1 -3.0 -9.8 -- -- -- 1.1 Oct-21 NFI-ODCE Equal Weighted 0.0 -5.4 -13.4 4.3 3.8 6.7 0.0 Oct-21 128 of 217 4 Marquette Associates,Inc. '` ,a�lrt ."w Illinois Firefighters' Pension Investment Fund Fee Schedule Investment Manager Fee Schedule lRhiumbline 0.005%on the Balance SSGA 0.0111%on the Balance Garcia Hamilton&Associates 0 14%on the First$100 million 0.09%on the Next$600 million 0,05%on the Balance Brown Brothers Harriman&Co 017%on the First$250,million 0,13%on the Next$250 million 0.10%on the Balance Principal USPA Fund 0.75%on the Balance En 129 of 217 OF' Marquette Associates,Inc. 5 Illinois IFirefighters' Pension Investment Fund Disclosures Beinctimairk Nstory Total Fund Composite 25%Russell Top 200�9%Russell IMidlCap�2%S&P 600 SmallICap�16%IMSCI World ex USA/3%MSCI Worldi ex USA 4/112023 Present Small Cap!8%MSCI Emerging Markets 12%MSCI Emerging(Markets Small Cap)3%Bloomberg US Treasury 1-3 Yir TR 124%Bloomberg US Aggregate TR 13%JP Morgan EMBI Global Diversified/2%FTSE INAREIT Equfly REIT 13%NFI- ODGE Equal Weighted 25%IRuissell Top 200 l 9%Russell IMidlCap l 2%S&P 600 SmalllCap l 16%IVISCI World ex USA/3%MSCI W orldi ex USA Small Gap/8%MSCI Emerging Mlarkets/2%MISCI Emerging(Markets Small Cap)3%Bloomberg 1-3 Year US TIPS 19% 10VV2021 3/3112023 Bloomberg US Credit lint TR 16%Bloomberg US Treasury Int TR/3%Bloomberg US Treasury Long TR/6%Bloomberg USSecuritized MBSABS,CMBS TRI 3%JP Morgan EMBI Global Diversified/2%FTSE INAREIT Equity REIT)3%NFI- ODCE Equal Weighted Total Real Estate Composite 10/3112021 Present 60%INFI-ODCE Equal Weighted)40%FTSE NAREIT Equity(REIT Performaince IDiisscllosuures Inception Performance Total Fund Composite,(Private(Real Estate Composite,and the Principal)USPA Fund inception performance are based on an,October 1,2021 start-All other account and composite inception performance is based on an October 31,2021 start- NFI-ODCE Equal Weighted Quarterly valued index-Valuie of the quarterly return is recognized in the last month of each quarter- ME 130 of 217 6 )Marquette Associates, Inc. OF D"ISCLOSURE Marquette Associates, Inc. ("Marquette") has prepared this document for the exclusive use by the client or third party for which it was prepared. The information herein was obtained from various sources, including but not limited to third party investment managers, the client's custodian(s) accounting statements, commercially available databases, and other economic and financial market data sources. The sources of information used in this document are believed to be reliable. Marquette has not independently verified all of the information in this document and its accuracy cannot be guaranteed. Marquette accepts no liability for any direct or consequential losses arising from its use. The information provided herein is as of the date appearing in this material only and is subject to change without prior notice. Thus, all such information is subject to independent verification and we urge clients to compare the information set forth in this statement with the statements you receive directly from the custodian in order to ensure accuracy of all account information. Past performance does not guarantee future results and investing involves risk of loss. No graph, chart, or formula can, in and of itself, be used to determine which securities or investments to buy or sell. Forward-looking statements, including without limitation any statement or prediction about a future event contained in this presentation,are based on a variety of estimates and assumptions by Marquette, including, but not limited to, estimates of future operating results, the value of assets and market conditions. These estimates and assumptions,including the risk assessments and projections referenced, are inherently uncertain and are subject to numerous business, industry, market, regulatory, geo- political,competitive, and financial risks that are outside of Marquette's control.There can be no assurance that the assumptions made in connection with any forward® looking statement will prove accurate, and actual results may differ materially. The inclusion of any forward-looking statement herein should not be regarded as an indication that Marquette considers forward-looking statements to be a reliable prediction of future events. The views contained herein are those of Marquette and should not be taken as financial advice or a recommendation to buy or sell any security. Any forecasts,figures, opinions or investment techniques and strategies described are intended for informational purposes only. They are based on certain assumptions and current market conditions, and although accurate at the time of writing, are subject to change without prior notice. Opinions, estimates, projections, and comments on financial market trends constitute our judgment and are subject to change without notice. Marquette expressly disclaims all liability in respect to actions taken based on any or all of the information included or referenced in this document. The information is being provided based on the understanding that each recipient has sufficient knowledge and experience to evaluate the merits and risks of investing. Marquette is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Marquette including our investment strategies, fees and objectives can be found in our ADV Part 2,which is available upon request. 131 of 217 on OF s ciat FaiREFIGF a E PEA'14SJiO ll NVL I'MLNI t°UNH) Illinois Firefighters' Pension Investment Fund Monthly Summary I1::"e1bruairy 29, 2024, * Preliminary, subject to change 132 of 217 1111nois Firefighters' Pension Annualized Performance (Net of Fees) Investment Fund Return Summary Ending FebrUairy 29,2024 200 150 141 14,3 E 100 0 7 3 6,8 0 75 50 2A 21 2,3 2-1 001 11 . III MM Feb-24 3 Months YTD I Year jjtllllllj Tolall Fund Composite IFPIF Policy Benchmark Actual vs Target klocation (%) 50,0 39.2 40.0 X0 3O 0 26,91 291.0 20.0 +6 5,01 00 0,0 1��ffil I .......................... Fixed Income U.S-Equily Non-U.S.Equity Real Assets Other Actual Policy Returin,Sumirnairy ­1 IKormth Total Return, Totall Fund Composite 2_4% IFPIF Policy Benchmark 2_31YD Totall Fund Composite excl.Member Funds 2.4% IFPIF Policy Benchmark 2_3% U.S.Equity Composite 52% Russell 3000 5A% Non-U.a.Equity Composite 2_4% MSCI ACWI ex USA IMI 2_3% Totall Fixed Income Composite _1_11% Bloomberg US Universal TR -1-2% Total Real Estate Composite 0.4% Real Estate Custom Benchmark 0_8% 133 of 217 Marquette Associates,Iric Total Fund Composite Asset Allocation Market Value:$8,578.9 Million and 100.0%of Fund IEIndiiirn IF:elbiruairy 29,202 Asset Class Market Value %of Portfolio Policy% Total Fund Composite $8,578,910,197 100.0% 100.0% Total Fund Composite excl.Member Funds $8,578,900,535 100.0% 100.0% Total Equity Composite $5,843,092,886 68.1% 65.0% U.S.Equity Composite $3,363,204,179 39.2% 36.0% Rhumbline Russell 200 Large-Cap Core $2,416,266,163 28.2% 25.0% Rhumbline Russell Midcap Mid-Cap Core $781,200,968 9.1% 9.0% Rhumbline S&P 600 Small-Cap Core $165,737,047 1.9% 2.0% Non-U.S.Equity Composite $2,479,888,707 28.9% 29.0% International Developed Equity Composite $1,664,076,152 19.4% 19.0% SSGA World ex US Non-U.S.Large-Cap Core $1,427,832,796 16.6% 16.0% SSGA World ex US Small Non-U.S.Small-Cap Core $236,243,356 2.8% 3.0% Emerging Markets Equity Composite $815,812,555 9.5% 10.0% SSGA MSCI EM Emerging Markets $640,283,703 7.5% 8.0% SSGA EM Small EM Small-Cap $175,528,852 2.0% 2.0% Total Fixed Income Composite $2,306,489,334 26.9% 30.0% Rate Sensitive Composite $2,062,214,111 24.0% 27.0% Short-Term Treasury Composite $226,639,368 2.6% 3.0% SSGA Short Treasury Short-Term Govt.Fixed Income $226,639,368 2.6% 3.0% Core Fixed Income Composite $1,835,574,744 21.4% 24.0% Garcia Hamilton&Associates Core Fixed Income $897,312,168 10.5% 12.0% Brown Brothers Harriman&Co Core Plus Fixed Income $938,262,575 10.9% 12.0% Credit Fixed Income Composite $244,275,223 2.8% 3.0% Emerging Markets Debt Composite $244,275,223 2.8% 3.0% SSGA EM Global Diversified EM Fixed Income $244,275,223 2.8% 3.0% Total Real Estate Composite $387,364,519 4.5% 5.0% Core Real Estate Composite $387,364,519 4.5% 5.0% Public Real Estate Composite $173,376,790 2.0% 2.0% SSGA FTSE NAREIT U.S.REIT $173,376,790 2.0% 2.0% Private Real Estate Composite $213,987,729 2.5% 3.0% Principal USPA Fund Core Real Estate $213,987,729 2.5% 3.0% Cash Composite $41,910,706 0.5% 0.0% Transition Composite $43,089 0.0% 0.0% Member Funds Composite $9,662 0.0% 0.0% 134 of 217 2 Marquette Associates,Inc. '` ,a�ltnt ,"w Investment Manager Annualized Performance (Net of Fees) Market Value:$8,578.9 Million and 100.0%of Fund 11:indling February 29, 2024, 1 MO 3 Mo YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date J IJ J JJ II J Jl 1 II J J J J, 1J I I J l 1 I Ill�flf�'IIIII��'r�'ttt �'11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111�JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ � ����������������� ���������������I ���������������������������������������������� ���������������������������������������������1����������������������������������������������'�Illlllllllllllllllllllllllllllllllllllllllllllllllii�ll�l ��������������r�'�IIII IFPIF Policy Benchmark 2.3 6.8 2.1 14.3 3.7 7.4 6.7 1.8 Oct-21 JJ I 1 I 1 J 1 I J J J I I J I IFPIF Policy Benchmark 2.3 6.8 2.1 14.3 3.7 7.4 6.7 0.5 Oct-21 J 1 I I J J j, 1 >< 1 I MSCI ACWI IMI Net USD 4.2 9.9 4.4 21.6 6.1 10.1 8.1 2.0 Oct-21 I 1lJJ 1 I 11 JJ J J J J J J J 1 ! 1 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII� rI�I�I��J��J �'111111111111111111111111111111111111111111111111111111111111111111111111rrrrrrrrrrrrrrrr 'ttttttttttttttttttttttttttttttttttttttt11111111111111111111111111111111 ��rrrrrrrrrrrrrrrrrrrrr'lllllllllllllllllllllllllllllllllllllllllllll�lll�llllllllllllllllllllllllllllllllllllllllllll��llllllllllllllllllllllllllllllllllllllllllllllllllll �rrrrrrrrrrrrrrrr ttt Russell3000 5.4 12.2 6.6 28.6 9.9 13.9 12.0 4.6 Oct-21 Rhumbline Russell 200 5.3 12.1 7.8 35.0 -- -- -- 6.6 Oct-21 Russell Top 200 5.3 12.2 7.8 35.0 12.5 15.9 13.5 6.6 Oct-21 Rhumbline Russell Midcap 5.6 12.1 4.1 15.4 -- -- -- 0.5 Oct-21 Russell MidCap 5.6 12.1 4.1 15.5 5.5 10.3 9.5 0.6 Oct-21 Rhumbline S&P 600 3.3 11.9 -0.8 6.5 -- -- -- -0.6 Oct-21 S&P 600 SmallCap 3.3 11.9 -0.8 6.5 2.3 7.7 8.5 -0.6 Oct-21 J J I! 1 1 1 J J J J 1 J J Jl J J J � f IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII ' ��U�t1�'I����'��i� 'IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII � llllllllllllllllllllllllllllllllllll '1111111111111111111�11�1IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�l�11111111111111111111111111111111111111111111�NIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�I�11111111111111111111111111111111111111111111��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII��JJ��1111111111111111111111111111111111 r ll MSCI ACWI ex USA IMI 2.3 6.5 1.2 12.1 1.1 5.5 4.0 -1.3 Oct-21 J I JJJ,11 1 J J ,1 I III I U I + J l J ! II I I I 1 J J l �l� �t�ltttt� � i ��� �111111111111111111111111111111111111111u11111111111111111111111111111111111�� llllllllllllllllllllllllllllllllllllllll ���������������1��������������������� ��������������������� ����������������������������������������������r� JJJJJJJJJJJJJJJ��ttll MSCI World ex USA IMI NR USD 1.5 7.4 1.7 12.8 3.7 6.5 4.4 0.4 Oct-21 SSGA World ex US 1.7 7.8 2.2 14.4 -- -- -- 1.8 Oct-21 MSCI World ex USA 1.7 7.7 2.1 14.0 4.7 6.9 4.4 1.5 Oct-21 SSGA World ex US Small 0.3 5.6 -1.4 6.2 -- -- -- -5.5 Oct-21 MSCI World ex USA Small Cap 0.3 5.6 -1.4 5.7 -1.5 4.5 4.1 -5.9 Oct-21 1 J J I 1 1 J 1 1 J 1 J J I J J J I. r: MSCI Emerging Markets IMI 4.5 4.0 0.0 10.4 -5.0 2.7 3.3 -5.4 Oct-21 SSGA MSCI EM 4.8 3.7 -0.2 8.6 -- -- -- -6.5 Oct-21 MSCI Emerging Markets 4.8 3.8 -0.1 8.7 -6.3 1.9 3.0 -6.4 Oct-21 SSGA EM Small 2.8 5.0 0.8 20.6 -- -- -- 1.3 Oct-21 MSCI Emerging Markets Small Cap 2.7 5.4 1.0 21.6 4.7 8.7 5.3 1.6 Oct-21 1 I 11 1 J 1 J I 1 1 J J J l l l J J J��11l ��111�1� ����111111111111111111111111111111111111111111111111111111111����lllllllllllllllllllllllllllllllllllllll �����������������ll� r�r�r�r�r�r�r�r�rr ��������������������������������������������� �����������������������������������������������rlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrlrl���������������������������������������������������'111111111111111111111111111111111 I ttt( Bloomberg US Universal TR -1.2 2.3 -1.4 4.1 -2.8 0.8 1.7 -3.9 Oct-21 J J JJl 1 i I J JJ 1 11 1 1 JJ J 1 J 1 I l I I Bloomberg US Aggregate TR -1.4 2.1 -1.7 3.3 -3.2 0.6 1.4 -4.3 Oct-21 J J J JI J J 1 1 1 1 I 1 1 J JI 1 I J 1 ! I I I 1 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII��'� i' ���'tr�J� 11111111111111111111111111111111111111111111111111111111111111111111111111111111111J ��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�I�I�ttttttttttttttttttttttttttttttttttti�l�t�llllllllllllllllllllllllllllllllllllllllllllll��J!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!lI��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 'IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII��J!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!llrrrrrrrrrrrrrrrrrrrrrrrrrrrriIIW�"r Bloomberg US Treasury 1-3 Yr TR -0.4 1.1 -0.1 4.3 -0.1 1.2 1.0 2.6 Mar-23 SSGA Short Treasury -0.4 1.1 -0.1 -- -- -- -- 2.6 Mar-23 Bloomberg US Treasury 1-3 Yr TR -0.4 1.1 -0.1 4.3 -0.1 1.2 1.0 2.6 Mar-23 135 of 217 Marquette Associates,Inc. 3 Investment Manager Annualized Performance (Net of Fees) Market Value:$8,578.9 Million and 100.0%of Fund 11:indling February 29, 2024, 1 MO 3 Mo YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date II I I I I I I II 1 1 I II J 1 1 I III I �J I J I JI J J JI I l J l l 1 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�iH1�'�IIII�II�'� �'��'�"�11111111111111111111111111111111111111111111111u�'111111111111111111111111111111111111111111111111111111�11� '11111111111111111111111111111111111111111111111111111111111111111111111111111111�111111111111111111111111111111111111111111111�1�111111111111111111111��1111111111111111111111111111111111111111111111�� �����������������ll[ Bloomberg US Aggregate TR -1.4 2.1 -1.7 3.3 -3.2 0.6 1.4 -4.3 Oct-21 Garcia Hamilton&Associates -1.9 2.3 -2.3 -- -- -- -- -1.1 Mar-23 Bloomberg US Aggregate TR -1.4 2.1 -1.7 3.3 -3.2 0.6 1.4 0.8 Mar-23 Brown Brothers Harriman&Co -0.8 3.6 -0.7 -- -- -- -- 4.6 Mar-23 Bloomberg US Aggregate TR -1.4 2.1 -1.7 3.3 -3.2 0.6 1.4 0.8 Mar-23 i I I I I I I II I 1 1 I I I 1 J I JJJ J J 1 l l j � III��'�'I Ill�l ��i '�'' 1111111111111111111111111111111111111111111111111r ��������������������I ����������������� � Illllllllllllllllllllllllllllllllllll��rttttttttttttttttttttttttttttttttttttttttttttt��jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj��ttttttttttttttttttttttttttttttttttttttttttttt'ttttttttttttttttttttttttttttttttttttttttttttttt� ���������������� ' tttl JP Morgan EMBI Global Diversified 1.0 4.7 -0.1 10.1 -2.4 0.6 3.0 -4.0 Oct-21 I II I I 11 I JJJJJ J I I J J J i�i�llll >� r �' ������������������������������������� ������������������������������������� �1111111111111111111111111111111111111111111111111111111111111111111111111111111111��11111111111111111111111111111111111111111111�'�111111111111111111111111111111111111111111111'11111111111111111111111111111111111111111111111�, '11111111111111111111111111111111 '�111 JP Morgan EMBI Global Diversified 1.0 4.7 -0.1 10.1 -2.4 0.6 3.0 -4.0 Oct-21 SSGA EM Global Diversified 0.7 4.3 -0.4 9.4 -- -- -- -3.9 Oct-21 JP Morgan EMBI Global Diversified 1.0 4.7 -0.1 10.1 -2.4 0.6 3.0 -4.0 Oct-21 II 1 JJ J J 1 JJJ J lJ I 1 I l J 1 1 J t I 1 l 1 ��IIl� Irk'�'1 �1111111111111111111111111111111111111111111111111111111111111111llllllllllllllllllllllllllllllllllllll����������������rll�llllllllllllllllllllllllllllllllll�l�����������������������r�������������������������111111111111111111111111111111111111111111111'jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjl� '����������������r�'��1 Real Estate Custom Benchmark 0.8 -0.1 -0.9 -5.7 5.2 4.7 7.0 -1.0 Oct-21 11 1 1 1 11 llllll I J I J J I I � lJJ I 1 � � I I IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII� �IIII '�IJ � 'IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII , JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJI�llllllllllllllllllllllllllllllll11� 1111111111111111111111111111111111� + lllllllllllllllllllllllllllllllllllllllllllll11111111111111111111111��111111111111111111111111111111111111111111��11111111111111111111111�������������������i�'lll Real Estate Custom Benchmark 0.8 -0.1 -0.9 -5.7 5.2 4.7 7.0 -1.0 Oct-21 i i II 1 1 1 11111 1 l 1 1 I I I I I I J I 1 J J IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII '�V �I'IIIII �'�'ll "�I� '� rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrllllllllllllllllllllllllllllllllllll� 'IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�������������������'� 'rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr�'�rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr 'rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr��rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr'� IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�'�IIII FTSE NAREIT Equity REIT 2.0 7.5 -2.2 5.6 5.0 4.4 6.4 -4.0 Oct-21 SSGA FTSE NAREIT 2.0 7.5 -2.2 5.6 -- -- -- -4.0 Oct-21 FTSE NAREIT Equity REIT 2.0 7.5 -2.2 5.6 5.0 4.4 6.4 -4.0 Oct-21 1 J J J J J J- JI l J fir' 'il' '�'tttl �i �111111111111111111111111111111111111111111111������������������in>� ������������������ rrrrrrrrrrr�rrl �111111111111111111111111111111111111111111111'111111111111111111111111111111111111111111111��111111111111111111111��111111111111111111111111111111111111111111111111111'����������������������������������� r tt NFI-ODCE Equal Weighted 0.0 -5.4 0.0 -13.4 4.3 3.8 6.7 0.0 Oct-21 Principal USPA Fund -0.8 -2.7 -0.8 -10.6 -- -- -- 0.7 Oct-21 NFI-ODCE Equal Weighted 0.0 -5.4 0.0 -13.4 4.3 3.8 6.7 0.0 Oct-21 136 of 217 4 Marquette Associates,Inc. '` ,a�lrt ."w Illinois Firefighters' Pension Investment Fund Fee Schedule Investment Manager Fee Schedule lRhiumbline 0.005%on the Balance SSGA 0.0111%on the Balance Garcia Hamilton&Associates 0 14%on the First$100 million 0.09%on the Next$600 million 0,05%on the Balance Brown Brothers Harriman&Co 017%on the First$250,million 0,13%on the Next$250 million 0.10%on the Balance Principal USPA Fund 0.75%on the Balance En 137 of 217 OF' Marquette Associates,Inc. 5 Illinois IFirefighters' Pension Investment Fund Disclosures Beinctimairk Nstory Total Fund Composite 25%Russell Top 200�9%Russell IMidlCap�2%S&P 600 SmallICap�16%IMSCI World ex USA/3%MSCI Worldi ex USA 4/112023 Present Small Cap!8%MSCI Emerging Markets 12%MSCI Emerging(Markets Small Cap)3%Bloomberg US Treasury 1-3 Yir TR 124%Bloomberg US Aggregate TR 13%JP Morgan EMBI Global Diversified/2%FTSE INAREIT Equfly REIT 13%NFI- ODGE Equal Weighted 25%IRuissell Top 200 l 9%Russell IMidlCap l 2%S&P 600 SmalllCap l 16%IVISCI World ex USA/3%MSCI W orldi ex USA Small Gap/8%MSCI Emerging Mlarkets/2%MISCI Emerging(Markets Small Cap)3%Bloomberg 1-3 Year US TIPS 19% 10VV2021 3/3112023 Bloomberg US Credit lint TR 16%Bloomberg US Treasury Int TR/3%Bloomberg US Treasury Long TR/6%Bloomberg USSecuritized MBSABS,CMBS TRI 3%JP Morgan EMBI Global Diversified/2%FTSE INAREIT Equity REIT)3%NFI- ODCE Equal Weighted Total Real Estate Composite 10/3112021 Present 60%INFI-ODCE Equal Weighted)40%FTSE NAREIT Equity(REIT Performaince IDiisscllosuures Inception Performance Total Fund Composite,(Private(Real Estate Composite,and the Principal)USPA Fund inception performance are based on an,October 1,2021 start-All other account and composite inception performance is based on an October 31,2021 start- NFI-ODCE Equal Weighted Quarterly valued index-Valuie of the quarterly return is recognized in the last month of each quarter- ME 138 of 217 6 Marquiette Associates, Inc. OF D"ISCLOSURE ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Marquette Associates, Inc. ("Marquette") has prepared this document for the exclusive use by the client or third party for which it was prepared. The information herein was obtained from various sources, including but not limited to third party investment managers, the client's custodian(s) accounting statements, commercially available databases, and other economic and financial market data sources. The sources of information used in this document are believed to be reliable. Marquette has not independently verified all of the information in this document and its accuracy cannot be guaranteed. Marquette accepts no liability for any direct or consequential losses arising from its use. The information provided herein is as of the date appearing in this material only and is subject to change without prior notice. Thus, all such information is subject to independent verification and we urge clients to compare the information set forth in this statement with the statements you receive directly from the custodian in order to ensure accuracy of all account information. Past performance does not guarantee future results and investing involves risk of loss. No graph, chart, or formula can, in and of itself, be used to determine which securities or investments to buy or sell. Forward-looking statements, including without limitation any statement or prediction about a future event contained in this presentation,are based on a variety of estimates and assumptions by Marquette, including, but not limited to, estimates of future operating results, the value of assets and market conditions. These estimates and assumptions,including the risk assessments and projections referenced, are inherently uncertain and are subject to numerous business, industry, market, regulatory, geo- political,competitive, and financial risks that are outside of Marquette's control.There can be no assurance that the assumptions made in connection with any forward® looking statement will prove accurate, and actual results may differ materially. The inclusion of any forward-looking statement herein should not be regarded as an indication that Marquette considers forward-looking statements to be a reliable prediction of future events. The views contained herein are those of Marquette and should not be taken as financial advice or a recommendation to buy or sell any security. Any forecasts,figures, opinions or investment techniques and strategies described are intended for informational purposes only. They are based on certain assumptions and current market conditions, and although accurate at the time of writing, are subject to change without prior notice. Opinions, estimates, projections, and comments on financial market trends constitute our judgment and are subject to change without notice. Marquette expressly disclaims all liability in respect to actions taken based on any or all of the information included or referenced in this document. The information is being provided based on the understanding that each recipient has sufficient knowledge and experience to evaluate the merits and risks of investing. Marquette is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Marquette including our investment strategies, fees and objectives can be found in our ADV Part 2,which is available upon request. 139 of 217 �IIIIIIIIIIIIIIII,'PIIIII'I'IIIIII'IIII�IIItIIIIIIIIIfIIIIPIIIIIIIIIIIIIYIIIYIIIIIVItIIIII'!r'I��VV6 VV�6�C�C�V"� �7 �YYYYYYY�YYYYYYYYYYYYYYYYYYYYY YYYYYYYYYVVVV �'1"III IIIIIII;I r_ N O mhOW dab f .■w 9w 1 / r_ N O V _ cw`�• Cil a� C "It I�t 7 un, o 00 ' •. 'ch 4if} kFA• EF} N Ei4 6°l 69• 00 00 h rl 0 try ,a w N r_ N O N V O C7 C,7 CY C� C7 J Q Q GJ Q CD C 1 cn, 0) C" 0 It It kr) 0^ kr! V 71 ya W LM.Qiti y�+.� ) u w iiii i�iii i i ii°iii r_ N O "4C? Ci\ �" �� �� .� �,W� �� ew++ � ,�"` °" Cam �I ra �-+ a�i r�- `.cs' c�a � � r*a ra � �., �+ Kf'a w� w � � � crcr c`;1 c*� M hl 11 ,�—. �" � � �� ;.� �� c c� � � � � � '� °� � � a � w � C b- r l ct u 7� c ct ct U U >1 � N ct • -4-� 4-4 ct 4—j $:L, N ct N ct a� ct 0 '� cn • •�, U c1t Ct ct ct Ct H -Goq O M O yy C4 CA rA 40 kr) ("I -t r"I C> C> ell CN KS r_ N O V N M a C7 4J EP} kd�;1 A 0-4 47 U rra 4 r l N O T TT^^ VJ aQ N O ct c1d N ct N ' U U ct ct ct ® U ct u Q � � ct 0 ct o0 r_ N O o7 V ri w c. o r Oo oq to ul al .n v n �/•�y [/I�YJ N ` 0 Ct Y 7t rn () ct CJ► ct C7 H -75 " Q 00 00 n sus w C'n r_ N O 00 D « as -r asdim a, 00 an •nJ�` t�'n C00Sy � Irj tC� CJ 4 Ci MI`i, C:; y; rn C7 KT EFk kH fiH kH EA C7 C> C7 C7 hJ f�V f*1 h� rn rn rn rn rn CA NN ry r<i CV .-1 r_ N O N 40 M 40 IM v, a dim 40 Y! Lp ryry �J 75" c> � C ca " C.D C) C8 Q1 W3 kn V4 U'7 r l ct O " 0 Ct Ct 4-4 ct O A—+ ct Ct t -� ��4-4 ; r � r 4� O M O O Cl� ct ct ct CA o �rcta� ct 42� ct � U V V � O � •� O '� bA ct ct ct Buffalo Grove Firefighters' Pension Fund Board of Trustees Notice of Election Results April 2024 Election Active Member Position Nominations are closed and have resulted in: Dan Pasquarella running unopposed for the position of: Active Member Trustee Three-Year Term Expiring April 30, 2027 Dan Pasquarella has accepted the position as a member of the Board of Trustees and has agreed to uphold the duties required. Elections conducted by Molly Barker, Professional Services Administrator Lauterbach&Amen, LLP 154 of 217 PENSIONINSIGHTS Secoiid Quarter 2024. Recent Updates to HELPS Benefits-A Fact Sheet What are HELPSBenefits? The Healthcare Enhancement for Local Public Safety Retirees Act (the "HELPS Act'), found in Section 402(I) of the Internal Revenue Code (26 U.S.C. § 402(I)), provides that an employee who is an eligible retired public safety officer can elect a yearly pre-tax distribution of up to $3,000 from an eligible retirement plan maintained by their former employer for use toward qualified health insurance premiums for the taxable year. The HELPS Act became effective in 2007, prior to which eligible public safety retirees paid their qualified health insurance premiums with after-tax dollars. Who are eligible retired public safety officers? The HELPS Act takes the definition of a "public safety officer" from the Omnibus Crime Control and Safe Streets Act of 1968, which defines public safety officers as individuals serving a public agency in an official capacity, with or without compensation, as a law enforcement officer, firefighter, or chaplain. (34 U.S.C. § 10284(14)(A)) An "eligible retired public safety officer" is a public safety officer who, by reason of disability or attainment of normal retirement age, is separated from service with their employer who maintains the eligible retirement plan for which the HELPS Act distributions are made. (26 U.S.C. §402(I)(4)(13)) How have HELPS Benefits recently changed? Originally, the HELPS Act required payment of qualified health insurance premiums to be made directly by the governmental retirement plan. In 2022, two federal bills—H.R. 7203 and S. 4312—were passed as the HELPS Retirees Improvement Act of 2022 and the SECURE 2.0 Act of 2022, respectively, that removed that direct payment requirement and made it optional. Now, the HELPS Act allows the pre-tax distribution to be made "without regard to whether payment of the premiums is made directly to the provider of the accident or health plan or qualified long-term care insurance contract be deduction from a distribution from the eligible retirement plan, or is made to the employee." (26 U.S.C. §402(I)(5)(A(i)) How will this change impact public pension plans? As before, the HELPS Act will continue to result in tax reductions for retirees who elect for the pre-tax distribution. The amendments to the HELPS Act will alleviate administrative burdens on public pension plans. Retirement systems will no longer have to make direct payments to health and long-term insurance providers or keep track of changes to premium amounts and payment deadlines for eligible employees. This lessening of administrative burdens may also encourage public pension plans to implement the HELPS benefits if they previously had not, so that more retirees can benefit from the reduction in taxes. 153 Ottos n DiNolfo Hasen Mg astaldo, l..td.. 1864 North I114alper I113oulllevard, Sdite 353, Ilgalpe rvlillllll , Illlllllllirw&is 60563 Flll: (636)682,,,6635 f,,,, (630)682 0788 www,ott ser lllaw,corn Ottoseim IDiflNdlfo 11�asenlballg&CasLalldo, II..:WL CD 2024 155 of 217 BOARDINSIGHTS Apiip-112024 Are You DoingEverything rc Information Onli ? Document for a and Sharingin the Digital Age The COVID-19 pandemic brought a swift change in the way we, as a society, store and exchange information. While we were no doubt headed toward a future that would be largely digital, the pandemic forced us to convert to communicating and sharing information digitally far faster than anyone likely predicted, and this sudden conversion likely resulted in some less-than-ideal practices for document sharing and storage. We've all seen news coverage of document leaks that cause a massive headache for private companies and for governmental entities. As recently as March of 2024, it was discovered that a ransomware gang exposed over 65,000 documents held by the Swiss government in 2023, in what has been categorized as a significant data leak. The data leak' is a reminder that it is not just private corporations that are susceptible to potentially sensitive documents being released to the public; municipalities and pension funds are regular targets of cyber incidents, given the amount of personal and sensitive data held by these entities. Redaction Proper redaction is crucial not just when a physical document is to be given to someone, but also (one might argue even more so)when a document is to be transmitted electronically. While under the Freedom of Information Act certain exceptions permit public bodies to redact certain personal information of private citizens, pension funds have an additional responsibility to their members, for they are not just permitted to redact certain information but required to do so. Section 1-167 of the Illinois Pension Code requires all pension funds to protect certain information of members, this includes the member's: ■ home address (including ZIP code and county); ■ date of birth; ■ home and personal phone number; ■ personal email address; ■ any personally identifying member or participant deduction information; or ■ any membership status in a labor organization or other voluntary association affiliated with a labor organization or labor federation (including whether participants are members of such organization, the identity of such organization, whether or not participants pay or authorize the payment of any dues or moneys to such organization, and the amounts of such dues or moneys). (40 ILCS 5/1-167) This means that for a pension fund, not only is it bad policy to fail to redact someone's personal information before transmitting documents, but it is also illegal for pension funds to do so for their members and failure to redact private information could land a pension fund's board of trustees in hot water with the authorities should redaction of personal information be overlooked.z Online Transmission All local governments and pension funds should examine the way they share documents. While Dropbox and similar programs might be suitable when exchanging updates to board policies or meeting minutes and agendas, anything that is private, personal or medical in nature will require certain security precautions before being transmitted online. 1 https://www.scmagazine.com/brief/significant-swiss-government-data-leak-conducted-by-play-ransomware 2Also see obligations to protect personal information under the Illinois Identity Protection Act(5 ILCS 179/1 et seq.)and Personal Privacy Information Act(815 ILCS 530/1 et. seq.) 156 of 217 April 2024 l:::1age 2 This means a pension fund should make sure it has access to a document sharing solution that promises certain protections, such as HIPAA Compliance. This is likely to be more expensive than using the basic version of Dropbox or other file sharing software that you are likely familiar with, but the increased exposure to liability that a fund risks when sharing documents without proper protection is not worth the cost-savings of opting for a more basic and simple file sharing program. Storage As with document sharing, governmental bodies should be mindful of whether their document storage solutions are safe and secure. Documents are not only exposed to security risks during transmission, but also during storage. As governments might consider moving from local servers to cloud based applications, a third party's control over a local government's sensitive documents can also cause headaches. Just as it is important to make sure the software you use to transmit documents is safe, it's important to ensure the way you store your electronic documents is safe. Document storage solutions should promise security features such as encryption and two-factor authentication in order to make sure any sensitive information will be kept secure. Along with ensuring the pension fund's files are stored in a safe and secure location, it is good to establish a naming convention for documents that will illustrate the contents and keep them organized. While it is fairly easy to sift through papers that are stored in file cabinets to get a sense of the contents of files, when documents are stored online, "browsing" the contents of them to search for specific files or information can prove more challenging. As a pension fund moves toward online document storage, it is important to consider how to name documents so that their contents may be easily ascertained by anyone perusing a list of files. Key information to include in the name of the document might be the date the document was created, the name of any employee or member the document references, and the type of document it is (such as a resolution, an application for benefits, a QILDRO order, etc.). Summary While digital transmission and storage of documents is certainly convenient, there are certain security risks that come along with this convenience. It is important for pension funds to be aware of security risks and take action to prevent any bad actors from accessing sensitive information before a breach occurs. 111 Ouos r1 DiNolfo Hasenba lg st ldo, l..td,. 1804 111 II1 I13ou llev r ,Suilte 50, II111Ile, Illllllliiinoli 60563 I::''.. (530)552...005 II:::, (630)682...075 www.olttosen II aw.oorn 157 of 217 r ; M i�UNivm ��JJ �/ If 01 030ttosen DiN�olto 18. IN Hasenblaig &Castaldo, �Ltd. CLIENT' ALER'Tl Appellate Court Interprets Illinois Pension Code's Requirements for Woni-Duty Disability Pension Benefits for Combined Service Firefighter by Jahn E. Motylinski Ever since the Illinois General Assembly enacted provisions to allow firefighters to combine creditable service from two or more fire departments or fire districts, firefighters have used this flexibility with their pensions to seek new opportunities within the fire service for advancement andl improved salary or benefits. However, as the Illinois Appellate Court recently ruled,, the decision to switch jobs is not without risk of benefit loss, particularly where a firefighter switches employers andl experiences a non-duty injury. As the First District Appellate Court confirmed recently in Wessel v. Wilmette Firefighters'Pension Fund., 2024 IL App (1st) 230565„' firefighters need seven years of creditable service with their current employer to qualify for a non-duty disability benefit; credlitable service time with prior employers will not count toward the seven-year requirement except in one rare set of circumstances set forth in the statute. Injured firefighters may apply for three different types of disability benefits: (t) line-of-duty; (2) non- duty; and (3) occupational disease disability pensions. Unlike the other two varieties, line-of-duty disability pensions are available to firefighters immediately upon thecommencement of their On March 14, 2024,Wessell filed a Petition for Leave for Appeal with the Illliinois Supreme Court. employment. Non-duty disability pension benefits, on the other hand, are only available only if a firefighter has "at least 7 years of creditable service." (40 ILCS 5/4-111) Similarly, firefighters cannot apply for occupational disease disability pensions until they have five years of creditable service. (40 ILCS 5/4-110.1) But what happens if the firefighter who is injured has combined creditable service with a prior employer? Section 4-109.3 of the Illinois Pension Code provides the answer. (40 ILCS 5/4-109.3) ■ In cases of occupational disease disability pensions, a firefighter can meet the five-year minimum requirement by using prior creditable service from a different employer. Moreover, both pension funds share the financial obligation of the firefighter's occupational disease disability benefit on a pro rata basis. (40 ILCS 5/4-109.3(m)) ■ Line-of-duty and non-duty disability benefits are treated differently. For line-of-duty disability pensions, the last pension fund is responsible to pay a benefit based only on the firefighter's service with that fund. (40 ILCS 5/4-109.3(I)) ■ The same is true for non-duty disability pensions: "the last pension fund is responsible to pay" a non-duty disability pension "provided that the firefighter has at least 7 years of creditable service with the last pension fund." (40 ILCS 5/4-109.3(n)) There is only one exception, which is reserved for instances where "a firefighter began employment with a new employer as a result of an intergovernmental agreement that resulted in the elimination of the previous employer's fire department." (40 ILCS 5/4-109.3(n)) In Wessel, the court straightforwardly enforced these provisions. In that case, a firefighter worked with the Wilmette Fire Department for over nine years, from September 2010 to January 2020, when he voluntarily resigned to take a job with the Lake Villa Fire Protection District on February 1, 2020. He combined his creditable service between Wilmette Firefighters' Pension Fund and Lake Villa Firefighters' Pension Fund under Section 4-109.3 of the Illinois Pension Code. (40 ILCS 5/4- 109.3) Unfortunately, the firefighter became injured off-duty, so he applied for a non-duty disability pension from Lake Villa Firefighters' Pension Fund on February 16, 2021.2 Several months later while the Lake Villa application was still pending, he also filed a separate application for a non-duty disability pension with the Wilmette Firefighters' Pension Fund on May 15, 2021. Wilmette's Board of Trustees denied the firefighter's application. The Board found that the firefighter was not eligible for non-duty disability pension benefits under Sections 4-111 and 4-109.3(n) of the Illinois Pension Code, because at the time he applied, he was no longer an employee of the Wilmette Fire Department. The firefighter filed a complaint in circuit court seeking administrative review of the Board's decision. The circuit court sided with Wilmette, and the firefighter appealed. On appeal, the key question was whether, under Sections 4-111 and 4-109.3 of the Illinois Pension Code, the firefighter was entitled to a non-duty disability pension from the Wilmette Firefighters' Pension Fund. Like the circuit court, the First District Appellate Court's answer was "no." The appellate court reasoned that, because the Lake Villa Firefighters' Pension Fund was the firefighter's last pension fund, where he had less than seven years of service, he was not entitled to a non-duty disability pension under the plain language of Section 4-109.3(n). The court rejected the firefighter's arguments that the exception for combining service applied to him and that he had earned a vested right to the pension based on his nine years of service with the Wilmette Fire Department. The court also declined to import the statute's occupational disease disability pension pro rata provisions into cases involving non-duty disability benefits. 2 The Lake Villa Firefighters' Pension Fund stayed its process on Wessel's non-duty disability application, pending the outcome in the litigation against Wilmette Firefighters' Pension Fund. 2 The lesson from Wessel is that firefighters considering changing jobs must be aware of the potential ramifications of that decision. On one hand, if they are awarded an occupational disease disability pension, firefighters can use combined creditable service to meet the five-year minimum requirement. On the other hand, if they suffer a non-duty injury in their latter employment, the seven -year clock on their eligibility for a non-duty disability pension will have restarted and potentially make them ineligible for a non-duty disability benefit. In short, the Wessel case is a cautionary tale for combined service firefighters that except for one special circumstance, firefighters cannot rely on prior creditable service to count towards a non-duty disability pension. Ottosen DiNolfo Hasenbalg & Castaldo, Ltd.'s Client Alert is issued periodically to keep its clients and other interested parties informed of legal developments that may affect or otherwise be of interest to its readers. Due to the general nature of its contents, the comments herein do not constitute legal advice and should not be regarded as a substitute for detailed advice regarding a specific set of facts.Questions regarding any items should be directed to our main office at: OTTOSEN DINOLFO HASENBALG&CASTALDO,LTD. 1804 North Naper Boulevard,Suite 350, Naperville, Illinois 60563 (630)682-0085 ottosenlaw.com Copyright 2024 by OTTOSEN DINOLFO HASENBALG&CASTALDO,LTD. All rights reserved. Pursuant to Rules 7.2-7.4 of the Illinois Rules of Professional Conduct, this publication may constitute advertising material. 3 r_ N M U. M N N 9 1 y rM LU M �M . . z W-0 r_ N O N 0 V W CL ( ' 'A a) 0 0 u N t V 0 ai u 0 � � u � i r_ N O M 1 W r r 1 11� r 0 r M -Cr, CL. q r `IJ �Ny�fi fJ ' l / u uoi/ i uuu 0 Q u00 � � � 0M LL a � =$ = oL zQ u cV i L z O }, o E u LU -u Cd O Q U3 � o . ,� N0 .N J L) > N a� O ca -co CL cn O C wa,- I � J J -0 u, J 0 L.L cc ' O o " C: 0 =E a� c; O W � W 0 i fB Ln (B N o N O (n O L a--+ U .N O N N M O N O +�' CL L c N N Q L aJ C: O c ° >, � 0 -0 O C: O O U � vE ±� 0c 0 " Q, ) emu v W m 41 N • � � > .N Q 41 s QJ N N O LO — — • a >, .U , -o U U N N c m w N LL a E_ O N � 4-1 X Q }' U +' O v N N � N Q � • Q O Q E O � � 2 � LU L N N L }J •a N — O N U +, U =3 M CL • s Q a-J (6 >. Q �. N •U W _0 O Ln C: 4. (II v Ln E � • = o L f6 L • O oLnO ® CxA N N O u 03 -0 Q - U O U =3 O �_ • N ;� 4A p LU .V O s O ra • Ln s U U (1) r_ N O W •E l. 4J 2 4 O 0 W G ( CL O N d 4J uj C O "J 4-J X N k�0 vt U C U CO N O 4 4 4 -© 4 cU (U a U � p u • CL IM ceS G cd +--' a-s I N d v- cW -0 ci u 0% 0 u O O — c 0- CZ C 4 v 4 o- 0 - u cu Jcz w- > 0Q © Q Cu 0 Ift 41�n� r_ 4-) N l 'V Gh Chi (n V) CC CLm rq u N CU 4-J et CL 4-J 4J q Q d t y CO N -0 E 0 " vz tU — a `va CL N ' V 0 ► c�r v Q co N CrLn S t s � W � " CL a) w ' -Q . E cu 4-J I— r % cLa � tra p1 N >» u o w W 0 W IIIIIIIIIII IIIIIIIIIII V) 0 Z. 0 u Uj Uj .j u CL Z 0 U.j 0 Lu CL Uj • Ir ■ U < • O CIS N o L. a7�° O L L ° L _ N L L — 00 • L x— b4L O Lu lJ C U LU O O ._ Cd 4J +� 43 (A v) V V L L +-+ V V . 1 I L co W LM V O U L • L tit m inn I0 0 �, L Qj i ' v 12 L • L J i L • Q o V a� y Q ._ w a� v u L r f1 f rrrrrrr ffrrrrr r,�, it/ i i ; �f f/f friirr � r 4 J Q1 CL L E 5 � ° . f, w a va " w ► " u 0 uu I Ef u C- W _ 0 ii c�u I-- muuuuu r_ N 0 \h/ R 0 �C G 0 4 s n LU V > co 4-J ....Y o42 co CL u U. 0 .► 0 ua C Q *> `" oj V "tJ- 40 c w cn • : ^ , cu ,r rC3 a r_ N O r v) c a ii� Z) 0 Hill C T C 4J 4 1✓ ' -) Vf t!1 C_ � E °" � 'mac a m cu as %+- 'C 11 N vi N E O Q u c c 4J bbO c O >% `ter u C �s43 O cd O c�U 4J W R3 CL C O O 0 d 4 W u '4J CL O p c E Q � E c 4-' o u as u E a� a� +_� p u H a ° c° L" coo � o � Ic� W#---, Q 0" " -c o >, O () V) u N q�j of C C -0 'y fo tCS vs O to to > S1 s. (U > O qJ s. O O `0 Qi 6b� � 0- CL Lam. u O u U 0 U < CL m Ad PA' r_ N O N w cu cu uillluuuuuuuu 0 4.3 :Lj ._ Co L • 8 Will) l L L 6i — bO CD LU CL • L (m0" II6 bO o° _ cu L ® - h ._ N O QJ L l� - uuuuuuu� _ m uullluuuuuuuuuuum CA • ����������������� i L - �����wlm LU i .® LU L uuumu � tile) u��������������� �1um����������� um'i��WI�N u��m ... Cd II P elm � L dun// �uio ''�plln vimu � im�io� n� nnoi ��i �rro ruin "mrlriff(� II��IJ�Il� Illk llll�� �VIII�M�i �'ii �x� w. r a r a e e e r a a r w a w N w • � A •4 .r f p 4 r a�l 1 0 V f i .......... i�rtrn. ei m r � �� � +Jld✓'/J/ yy ��' � urvHuwu W rv�wW�'N, u eo�x� w ww e oWemrvY �mOHu"' Jl elf s^ l J1 NIU, w^n j,,,,yne mif+ani"ww"er*um% mYu u1W t �HommwromH ��ywmmn"""""ww rru f3f �V� e V n?; uu 'I r r� duo mr J/� / �v a .r mow. 4 1 0 1 AM � uy r_ N O r 0 uj -n 0 Uj �yryry�YY 4.V SJ 0 0 0 q� 4°' "�2 C1 tJ"d Co 4"'1 U"S SW 4-µ+ k 0 y q ++ E 0 0 �«+ M✓ V7 CC9 to 1 Cam..) 41J w 0 cn C E 4— E U U Om mmm r_ N O r r 0 uj -n 0 Uj Wpry 0 cn -, 0 CU taA c a 4- 0 ..`.'�.''. = ^-fir 4-1 4 U 1 tao � a Ul) o E ° 4-0 u 0 as c 0 °' u to E w � ba a U 1= ` is .� U— U +° U cis ;! ca4,J -C LU /" CL a - / t7 rd r tJry lC7 '"� N bD 4— m 76 0 r � � � � 0 4-- y Cc3 C- CL 0 U*) 0 +--+ Q) Hwy 0 � f�5 «L- _ 0 � � u u C 0 CU CJ4-4 C 0 � �� � t.r o ? 0 q� CU a ` o r qa 'in c (1) [-- c a ca ICJ E 0 0 W L C C u m C 1 s- "C (�Y t o U " Ct3 CL1 S ' 4 + C7 CU S co o °.Cat Clt C C C q 1g Q) S" C S p 1 i tC3 u7 - fCS M -0 4ri U � CC5 4-1 E 0 0 u m w res CWL "sW E CC% C1J IBM mmm � mmm �+M • • • %'i i/�, �,;, `% 0 i 0 J� �% • • N U 3o #., L 3 N Q Q 45 S G . m om N > ) pU L J LL Gco O -0s V) 3 C 0 " %�: Gov LL O -Q F O L O L I .4J s O O cC � o L L +C � 0 U —C (13 Q L U - LL _ (n +� N O Li N � V) C L. � Ct a V) C's LU �.Z W 0 U V) D LL 0 Lp O �LL cu Q 00 o O m LL CL LL 51 o P ,9 6 er, "'y Dr,fa� Fr 9 9 (' Y C) ' ,-) z 1. 0 "e 6 l 6 l 9 15' 6", 91 49 "2" ti �o (9 ,rip pu Ftl r„ �' Ff rSr;s¢z" 19, 41, p Ile )CI 19 Sa, "0 e'5 V V(� 5 Af O'S 9'4 ✓ 6' 55, fr Ae, 6 �9 6' ✓ ✓ 0� C I �p I, n I'n V 61 1d7 ed 21 69' W rp 41 r 0 X<<'f' 19 6" �p, •,,»,4',>�.,d frr F4F /'" .u;C rS,��r.!" ( f.a~� 1�0 GGIII 15, 19, r, 9 .6'r, d V6 9P & -V 2 cr/' 1,9 , 9 61 1, I� I 2 6' ) / , ,�1 19, O"N 6., 11 1 1✓ , Q(y 11 1 61 < �D 11 �9, -6 b 91, 0 4) '15 gas ,9 0 6,1 PU/ y 9g,o 6 ?o e, 6' 1:11. 0 CN .......... V). oo rn III in "D C� C14 0 CD -r ............... ........... .......... C> 0 4:3 0 0 ............ I r) 0 II 1r) u Oo 11 II 1 w 61 III' (A cd ........... 0 0 CD n C.3 .......... bO 0 CD CD 0 u11 te. > CK) N 0 0 i ln V, r) 0 u u 4n, Q) A z 0 LL V) 0 C> U LU CD WW �A- z CD CL ill r) .......... C3 CID Z 0 0 ............... C-D II 10 V) 4-j bol CD C.> LU A: AW 4. 1116 ........... ki ....... ............... C.> Lu C14 LU Ll a 4� CL LU c 0 le� x U— LU C..) :2,... o aw rq CD ............... in (',fs CD C>ON ...................... 0 ........... (-A- �j CD (v eA W) C.) 3 ........... .......... CS CN u z > (u u Y W 0 0 LL V) 0 C� U LU n. C> —jw II.n z ........... (U CD • ............ dY 0 v) rn fV) u ........... V) Q) III"„ 115C) 0 S= z Y " .............. LU P > CID m ............... to) u .......... < E 0 Lu ............... cu LU wow iiiell x CL .......... 11 1 LU 25 x Cy N C`V N CV (D to O 0 C) N �r O C C3� LO C Cj Va U - r- 5 cz " t— CL7 CC> o ro 47 a co C6 CZ y (n cn Iq cn Lci M uj c� r 75 oi cs; oi a; oOR kl:� CR I ,r AO • U. AO ujzs au s^e cu x x ,y (o o o CL E CO E m ( , = � UL U- u a. ca w- r_ N O W 0 L V) Q) f pVr Y J V V C V CIS Luj Q w co m Luu S E V lV �y ® 0 L / , L L L N • 1 VCd1 V Ln • rd v ® v' v' t CO CdN c+- V L L )k Ak � uuuui O e 1-7 buo ho it c + + + . . . + + 0 m Ilk E Ln Itt m 0 rH r" m m rH C14 lqr ba + + + + + + . . . + + C C m CC 44 vt 0 E o Lf) M h- -;,- 4) m .......... F- jj t;b 0 c :R 0 0 M rH rH . 0 rl4r-qm Lno E 14-0 rH r4 m U 0 a 0 .4� E W cr 0 r_ 4- U.J a) u :3 0) +, Q) E c Lmn • 0 m -0 (U 0 4� U 4) " 4- C X I-- p D m Z Ecu 0) bD cr 0 At cn s 4cn 4- u X Z 41 u )(A 0 (1) w LZ CL LLJ >0 < — 2 0 M 4-0 M .> — "RSA, V) a> " 2! 'C 4-M 1 0 0 cr 0 E 0- CL 0- U U c uj u CC cr. y1 ry�y,� N W �^y W _ W o y f.e u LL W V? V7 CC3 C L1. 4- C? 0 J g,0r U u V C 0 0 u tit I CCU CC7 I u t ) W cz Wa N > 4- ct 0 �- tom. pJ 0 E + ar .> a L- 0 a-J I 0 CL m L " r14 ® uu 1 u o ce CV +-' cu ' (ul) ei ci cj� a a aw n! L pz m m LU uj .,1 i� r_ N O W M th m N 0 ^}. co N O 1^ ' ... M 4h Gi ]" Z 115 Ch 0 N Ccp� p {y eP CO Ln Ch C! N �? Q e 1 rl M e-1 m m C O M M N Ch (�h N N Ln to 00 r 1 8 rn to rn m m c C H 4^ 4^ 4h. 4^ 4^ C U. .M.a C E C: U1 x G U 0) CS! 4 � u. a) :� 0) 0- ° a 0 4. CO 0 OL 0G. 0 E� � .� s a� 04 IL IL 12 • UUIIIIIIU°����� °luu� �je ul, o ` A ��IIII imiia vnilr,� a� w w 'Yii�J� Iulll� N��� IIIII dull •• r AY AY Y • • A al - i 4 w • A • w w ``IIIIII "� IiU i m A m m� y llU IIII �II)I�� lllii n • I� � f IIIII A iAl w tllw AM AIw w • 111� J A A * w w w • ��JII�1)1 ul�uu� �l J w A • 14Wwr pudlk, � « � m •" Ilia o w t q � • � IIIIIP r�iq �j��n, r_ 1 V f a ryCL w 0 }o era E .'. `Zn- fir.✓ 0 < � y t o o 4J - E S a� c E CL + d U _0 .> Ln W ft ct ' 0 � CL U— 5C CL 4-4 hilli r_ N z LLJ 0 x V" } 5zuju CLl ca w LIJ w CLZ (� LU r^J �+- V) w xZx 0 cr Z zuCO cxa � ° aW x N V) u � Wm OaO �- yw.. 0 Ln J q d w Ui'' t9 �Z 23 �r z < z " V, w w C1 V) >- y- Z w D O w "- W x O w U ��{{ w CO W r z >- Q `'rGwl lo ° F-z 0 Q 0- Q 0u u w u � W ; z �cu < o � x Q ° CLaui ( < © Jx cr < u Q F u • O --------------- 4i 44 t 0wD o 0 S U-"V --------------- 49 rn C14 rn 0 r-4 40- m C14 C C%4 cu 4�d a rn 1 0 rq E Is 0 U- :e 0 46 -------------- Jo- 4", rt 0 0 cc 0 m om = a cr Q rn N 0 "U "o t vN --------------- A CL 0 U 4J 4-J .45 r R a t 0 C (t ow N U N U (.9 u- G U � � a o E G G b4 cn p V, G v G M �d Gy G ("� c p / cr o �v G a -0 L -C G o V, Q as cz ,,,J L J-J V N G LL G � y (/) CL C 42 G G c .G • G W- � G 4 c ' q G '� q.Q � L 20 'o 4- • 4 4 A A M ♦ M A a i r A A A e M A� A A A e A A A L u CL Kim A A A A A � M Y A M A Al i�1�r r_ N O C �{ rrnw W #-- C 0 MR a 0 rhlM� - U- 4 C rU U N b C S.. CS$ #j 0 > u�A pry * C 0 V�f C V) O U- 0 r/1 0 .+j C L L.. U CL 75 Ln L�"f t�.I Cam.. ? ,tCS � i td V F E r[CS • # 2 t co 41 ^ �« 6 ? + © «* t p . \ � 0 M ± \ / 2 C \} o 00 rM � � � � � \ j � . � � � � � woo � � � Ill• � ,STA1 p�yt The W US Siren Toll Free 1-800-207-6958 Fax:217-557-8491 JB Pritzker Dana Popish Severinghaus Governor Director TO: Pension Funds established under Articles 3 and 4 of the Illinois Pension Code From: Illinois Department of Insurance, Public Pension Division Date: February 08, 2024 RE: Use of Money Market Mutual Funds by Article 3 &4 Funds The Department of Insurance has been approached as to whether and under what circumstances member funds can maintain a money market mutual fund according to the Illinois Pension Code ("Code"). Article 3 and 4 funds are permitted to retain an account for the purposes of benefit payments and other reasonable expenses after the end of the transition period. 40 ILCS 5/3-132.1 and 40 ILCS 5/4-123.2. The Department has determined that a money market mutual fund is such a permitted account. However, money market mutual funds can only be utilized to make benefit payments and other reasonable expenses. Given that Article 3 and 4 funds are able to quickly access money from the consolidated funds, the amount of money any Article 3 and 4 fund may keep in a retained account (including money market mutual funds) is limited. Amounts not imminently needed to make benefit payments or cover reasonable imminent expenses must be maintained in the consolidated fund and may not be maintained in a money market mutual fund. The following steps will ensure that Article 3 and 4 funds are in compliance with 40 ILCS 5/3-132.1 and 40 ILCS 5/4-123.2 when utilizing these types of accounts: 1. Communicate with the Consolidated Funds about local fund liquidity needs and defer to current guidance, best practices, or other regulations provided by the respective Consolidated Fund concerning cash management. 2. Consider a local bank or financial institution to provide such accounts and related financial services. Any fees associated with such accounts should be minimal and in line with market rates for cash- equivalent accounts. Investment or brokerage fees generally are not appropriate. If you have any questions, please contact the Public Pension Division of the Department of Insurance at: doi.pension@illinois.gov. 198 of 217 / / / / J J J J J J J J J J J J J / r / r i r r / / / / / J r / / r / f r / / li l , ,, y 1 y � r J � r, 1 � r / f f o. r / r / r/ I� rr 1 �� ��r wn� end ci in h n �, I Attract and retain a state and local workforce,e, helping to eff iciently deliver essential public Services Assets & Investments Local spendling bmlk� Rr'r*':6r+r Piq Mmtuiwi Y9,, j 7.O-.R u iiil urbe Assets are professionally and prudently invested, broadly diversified, and provide patient, long-terra capital two iU. W and global markets,After the Gl lball Finanriall Crisis, state retirement systems lowered their expected returns, The median for IFS"23 is 6.93% and gictual-returns have exceeded this for the l_, -, 2' 1-- and -gear periods ending 12/31/2 '. An, manual -Chtf detains the return assumptions for state and local pensions, recent trends, and how these expectations are set and reviewed. State&"local g ernmen pension enefilts lice I t-Im f Ir' I bu Per the U.S. Censusi Bureau, sitate & f Mi trust funds WhIldh state �local government retirement systemsi and a liuinu III cover (warking) and Ir a ,lug I ull l wolf gµinri�rvmdmo:a q�'ip'nq'wv�gNrongq mwghwmga!nwra rai sv.�u,m f n�ne��Fsrc w qh" a ffff ... . hdardsto ensurethey are Managed r s onsibly end transparently. Key roles anild reporting practices are, detailed in, a llpg licatioin -Ild riolduced by ASIRAu 1 error Ir I � Il vernment LxceHejri� e.. IIWNwd'V4d'W�wdwdwdwdw8wtP96CllKN1\@n\@n\@n\@n\@n\@n\wiwwN@n\@n\@n\@n\@�ww'iliw'?NO,Mq!NwWIMwN;12Rq!NwWIMwN;12Rq!NwWIMwN;12RgWNnIp�0000W�0000000W0000000000000000�1iW�llllllnln\n\u�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\�\u'rcN&rcrcAl\Gl\lll\UllUllUllUl\UNUl\lll\lll\UNUNUl\lll\llllUSSDwUil Az Sig ICI O fly" d AY Every state ifli n li benefits, r funding Illl +w In„g the Global Financial Crisis, ofteIrr Imultiple 0A my t`imes. IC I __ cam_ i1 c. hu ag, r a iri s and publishes, n r Ag Mwrc w 9 A, g r update detailing the trends, and specific Aw 1 111� 4 fro revisions in each state. onfaM W, NIM q; 4, 1 brim 00 VA w Ot ' CM, 0" A4 AA,� Ct K IWO Y A a,.,s ro Ar m�,+I", I r 6 Y, Udq YY, W WA, ix 1NMw •P,.. ap a P a910 MI 2012 20'1'!a am1^7 ZO apI A09'i7 201 zw pgA7JWyn�w,w�{f4{yu6/y�/y��yuwu{�{f4{yugu{�{f4{w7�Yd�pNmnlll0lllllllllllllllllllllllllll Iw�ll I IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIpI.IIIIVJIIIIIIIIIUIIuIv�nOP1P1P1P1P1P1P1P1Puuuuuuu1P1P1P1P1P1P1P1P1PuuuuuKlllS!SA!tt\ASASAS\AS\AS\AS\AS\AS\ASASAS\AS\A6ASAS9WNnWPNwPflWW,fwW,fWPNwPflWW,fwW,fWPNwPflWW,fwW,fWPNwPflu.N11U I I I I I I I I I I I I I I I I IIIIIIIIU I I I I I I I I I I I I I I I IIIIIIIIU it""I "Y fG I�V u ,, ''q� 1;a gw6ruBaiwr� jr, � u�m w°rc"� ui�ip,�rc�wiwggrq; m� �r� �Ywl gp% .�gn,mu Y States sponsor Plans with sharel I- 'i'M1 .pe�".�"a i rR M.nu 1xgwGa n���"�'�"�U+ �'°,a= � N„M ',� F F JF 4eG 'M r wng and shared-risk between employers and employees Aft While^ there is, abundant variety in pruiblic re 'irierneru�>It plan design, shared-financing and/or -risk is n1eari1y uIni ersal. N1AS RA producer a 1 h �. Il tu�Lmmm of its report oIn Illi .-Sha ri nginRuhrk e urer uer�o l�rthat detaiiIllsthese practices and inicludes case studies. An Il one Brief on Hybrid I Plank outlines cash balance and c i nation, plans that have been in the ul lllc sector for decades, IThis wur rut M _ RA-Issme- Iri e Ibli Plan P kfir ! ��iu� �� . I � 19 II w IlluJ���h w� m IRE] lui Al 200 of 217 SIR For more information: �ir� �r r NASRA Fortifying Main Street: .LINEASOLUTIONS The Economic Benefit of Public Pension Dollars in Rural America Key Findings Table A9. Illinois County Data Benefits Population Average percent of Gross Benefits as a %of g p County County 2018 Pension Change Domestic Product (GDP) for No. as a%of Total Name Type Benefits (2000 vs each county type in the state: GDP Personal Capital:2.4% 2018� Income Metropolitan:l.l% iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillilliillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliilI 1 Adams Metropolitan $51,631,844.11 1.57% 1.68% -3.79% Micropolitan:2.4% 2 Alexander Rural $5,332,275.07 2.95% 2.53% -36.81% Rural:1.9% 3 Bond Micropolitan $14,458,042.56 2.60% 2.31% -5.69% Total average percent of GDP 4 Boone Metropolitan $38,657,267.14 2.26% 1.52% 28.22% in the state:1.2% 5 Brown Rural $3,768,374.32 0.93% 1.63% -5.67% 6 Bureau Micropolitan $34,143,797.32 2.84% 2.36% -7.07% 7 Calhoun Rural $2,521,179.32 2.31% 1.24% -5.55% Average percent of Total 8 Carroll Micropolitan $16,885,685,79 3,64% 2.78% -14.17% Personal Income (TPI) for each 9 Cass Micropolitan $9,302,760.54 1.46% 1.78% -10.48% n t county type i the state: my l: n 10 Champaign Metropolitan $437,942,328.78 4.23% 4.60% 16.87% Metropolitan:1.2% 11 Christian Micropolitan $29,005,703.37 2.15% 2.13% -7.66% Micropolitan:2.2% 12 Clark Micropolitan $15,189,940.69 2.50% 2.26% -8.30% Rural:2.0% 13 Clay Micropolitan $13,543,018.59 2.30% 2.53% -8.98% 14 Clinton Micropolitan $26,167,191.03 2.16% 1.44% 5.92% Total average percent ofTPI in 15 Coles Metropolitan $89,583,829.49 3.89% 4.29% -4.34% the state:1.3% 16 Cook Metropolitan $2,163,539,188.68 0.60% 0.679/c -3.650/6 17 Crawford Micropolitan $15,601,10851 0.49% 1.72% -8.040/c 18 Cumberland Micropolitan $11,910,792.50 3.46% 2.52% -3.951X6 19 DeKalb Metropolitan $152,983,619.66 4.23% 3.59% 17.06% 20 DeWitt Micropolitan $14,245,505.60 1.26% 1.91% -6.13% 21 Douglas Micropolitan $23,789,123.28 2.37% 2.37% -2.22% 22 Du Page Metropolitan $804,279,001.86 0,97% 1.19% 2,70% 23 Edgar Micropolitan $14,877,248.53 1.97% 2.03% -11.90% 24 Edwards Rural $4,582,285.87 1.64% 1.78% -8.311/)o 25 Effingham Micropolitan $30,809,867.42 1.51% 1.78% -0.16% 26 Fayette Micropolitan $14,175,551.32 2.37% 1.87% -1.77% 27 Ford Micropolitan $14,140,960.86 1.79% 2.02% -6.86% 28 Franklin Micropolitan $39,775,491.44 3.19% 2.75% -0.81% 29 Fulton Micropolitan $34,044,578.31 3.71% 2.55% -8.900/6 30 Gallatin Rural $4,032,412.68 1,46% 1.79% -21.52% 31 Greene Micropolitan $8,745,966.72 2.32% 1.82% -11.63% 32 Grundy Metropolitan $42,991,720.12 1.37% 1.63% 35.80% 201 of 217 National Institute on Retirement Security ILLINOIS Fortifying Main Street The Economic Benefit of Pension Dollars in Rural America Table A9. Illinois County Data (continued) Benefits Population Benefits as a % of County County 2018 Pension Change No. as a % of Total Name Type Benefits (2000 vs GDP Personal Income 2018) iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillilliillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillillI 33 Hamilton Rural $8,317,447.72 1.81% 2.35% -5.31% 34 Hancock Micropolitan $15,600,251.28 2.28% 1.90% -11.32% 35 Hardin Rural $3,233,683.06 3.06% 2.23% -18.54% 36 Henderson Rural $4,337,276.33 2.16% 1.54% -18.31% 37 Henry Micropolitan $48,759,116.05 3.39% 2.20% -3.78% 38 Iroquois Micropolitan $24,724,971.34 2.34% 2.07% -11.90% 39 Jackson Metropolitan $126,346,447.01 4.50% 5.90% -3.68% 40 Jasper Rural $9,915,505.20 1.74% 2.24% -5.00% 41 Jefferson Micropolitan $31,837,408.58 1.88% 2.13% -5.56% 42 Jersey Micropolitan $19,706,374.20 3.92% 2.17% 0.83% 43 JoDaviess Micropolitan $28,723,993.92 3.51% 2.74% -4.14% 44 Johnson Micropolitan $15,841,474.53 6.98% 3.54% -3.28% 45 Kane Metropolitan $436,342,713.25 2.00% 1.59% 32.19% 46 Kankakee Metropolitan $90,829,250.51 2.08% 2.00% 5.96% 47 Kendall Metropolitan $79,397,347.09 2.73% 1.27% 134.52% 48 Knox Metropolitan $47,745,112.15 2.73% 2.41% -10.25% 49 Lake Metropolitan $561,767,726.24 0.93% 1.02% 8.76% 50 LaSalle Metropolitan $96,693,987.61 1.79% 1.98% -1.86% 51 Lawrence Micropolitan $10,232,005.14 2.00% 2.17% 2.03% 52 Lee Micropolitan $32,088,211.87 2.13% 2.24% -5.10% 53 Livingston Micropolitan $32,777,741.99 1.87% 2.05% -9.87% 54 Logan Micropolitan $21,289,532.13 1.92% 1.92% -7.24% 55 Macon Metropolitan $89,467,671.53 1.37% 1.77% -8.71% 56 Macoupin Micropolitan $39,235,305.73 3.37% 2.08% -7.56% 57 Madison Metropolitan $247,367,299.44 2.19% 1.99% 2.13% 58 Marion Micropolitan $39,026,196.23 2.84% 2.41% -9.76% 59 Marshall Micropolitan $10,351,727.10 2.56% 1.95% -12.49% 60 Mason Micropolitan $12,952,848.56 2.24% 2.25% -15.42% 61 Massac Micropolitan $11,448,096.39 1.66% 2.12% -7.13% 62 McDonough Micropolitan $70,299,700.99 6.11% 6.07% -8.99% 63 McHenry Metropolitan $284,245,468.10 2.78% 1.65% 18.65% 64 McLean Metropolitan $201,843,080.03 1.71% 2.37% 14.89% 65 Menard Micropolitan $15,978,474.69 5.53% 2.75% -1.59% 66 Mercer Micropolitan $15,806,247.97 3.91% 2.25% -8.00% 67 Monroe Micropolitan $24,518,353.11 2.66% 1.22% 24.32% 68 Montgomery Micropolitan $24,733,283.08 1.87% 2.29% -6.69% 69 Morgan Micropolitan $35,169,632.06 2.43% 2.50% -7.21% 202 of 217 National Institute on Retirement Security ILLINOIS Fortifying Main Street The Economic Benefit of Pension Dollars in Rural America Table A9. Illinois County Data (continued) Benefits Population Benefits as a % of County County 2018 Pension Change No. as a % of Total Name Type Benefits (2000 vs GDP Personal Income 2018) iiiiiiiiiiiiiiiiiiiiiillillillillillillilliillillillillillillilliillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillillI 70 Moultrie Micropolitan $12,788,553.83 1.85% 1.39% 3.01% 71 Ogle Metropolitan $59,657,735.98 2.19% 2.51% -0.21% 72 Peoria Metropolitan $152,802,566.68 1.27% 1.65% -1.53% 73 Perry Micropolitan $16,718,602.14 2.35% 2.06% -8.31% 74 Piatt Micropolitan $31,044,315.81 6.50% 3.49% 0.19% 75 Pike Micropolitan $14,837,835.53 2.38% 2.22% -10.20% 76 Pope Rural $3,468,896.15 3.60% 2.72% -4.55% 77 Pulaski Rural $5,661,701.80 2.40% 2.87% -25.65% 78 Putnam Rural $5,421,536.74 1.60% 1.60% -5.69% 79 Randolph Micropolitan $22,511,827.72 1.53% 1.90% -5.27% 80 Richland Micropolitan $15,677,757.24 1.63% 2.34% -2.39% 81 Rocklsland Metropolitan $124,918,279.66 1.19% 1.94% -3.95% 82 Saline Micropolitan $25,858,849.59 3.04% 2.73% -10.57% Sangamon 83 (Capital) Metropolitan $251,182,044.21 2.38% 2.63% 3.39% 84 Schuyler Rural $7,435,573.92 2.60% 2.44% -3.92% 85 Scott Rural $4,033,538.46 2.12% 1.92% -11.03% 86 Shelby Micropolitan $19,588,249.13 2.42% 2.17% -5.03% 87 St.Clair Metropolitan $183,040,663.38 1.71% 1.56% 1.94% 88 Stark Rural $4,538,119.07 2.00% 1.95% -14.29% 89 Stephenson Micropolitan $40,864,030.68 2.12% 2.14% -8.63% 90 Tazewell Metropolitan $115,309,685.84 1.41% 1.82% 2.99% 91 Union Micropolitan $25,010,323.57 5.58% 3.47% -7.94% 92 Vermilion Metropolitan $70,784,331.05 2.15% 2.33% -8.48% 93 Wabash Micropolitan $11,386,169.01 3.03% 2.26% -10.73% 94 Warren Micropolitan $16,003,253.46 2.13% 2.28% -9.09% 95 Washington Micropolitan $12,815,068.78 1.26% 1.79% -7.61% 96 Wayne Micropolitan $13,776,257.60 2.12% 2.05% -4.78% 97 White Micropolitan $15,308,318.22 2.67% 2.26% -11.10% 98 Whiteside Metropolitan $53,327,125.96 2.55% 2.18% -8.29% 99 Will Metropolitan $516,113,689.41 1.83% 1.41% 37.84% 100 Williamson Metropolitan $86,618,449.21 3.10% 2.90% 9.40% 101 Winnebago Metropolitan $230,574,122.47 1.76% 1.86% 2.03% 102 Woodford Micropolitan $34,395,748.04 2.98% 1.69% 8.44% 203 of 217 National Institute on Retirement Security ILLINOIS Fortifying Main Street The Economic Benefit of Pension Dollars in Rural America Figure A25. Illinois County Type 56 5 22 98 �rr 47 32 , � 2 � 5 s 92 County Categories El Cap�ta�� - Metropolitan Mcropohtan El R.U ra � I w d 204 of 217 National Institute on Retirement Security ILLINOIS Fortifying Main Street The Economic Benefit of Pension Dollars in Rural America FigureA26. Illinois Pension Benefit Dollars as Share of County GDP 101 2 � �I50 3,24,6 ur. 57 58 23 68, h4 V Benefit as fa of GDR 17 1 582 41 M� u 33 79 71 ` 205 of 217 National Institute on Retirement Security ILLINOIS Fortifying Main Street The Economic Benefit of Pension Dollars in Rural America Figure A27. Illinois Pension Benefit Dollars as Share of county Total Personal Income 5 �yJlyJ) NNN �✓ ggy �Yy '( � �&� ����•' errvrmwava ammo^Nr P. uY w j,.)�YJ4FrY/nHn✓�r a+imm+>7NW,1 /// ////�/�%�� YYI rhr rr N r�2 ri wNY 1 MIA 2 „ r 71 ;y /iii X,IN %...of Personal Incomertfw«««N rY, 0,6 6, 7 9 uJ Q 82 ;,rrh o — / f 79 Overview In Illinois,we received data from the following plans:Teachers'Retirement System of Illinois,Illinois Municipal Retirement Fund, Illinois State Universities Retirement System,Chicago Public School Teachers Pension and Retirement Fund,Municipal Employees' Annuity and Benefit Fund of Chicago,and The Laborers'and Retirement Board Employees'Annuity and Benefit Fund of Chicago. 206 of 217 NATIONAL IN57ATUTE ON Retirement Security mwr�' yrt^�Izl �r dte- ",h ",I f nk, ,fl,V ,f1:. Me'asuring the, Economic Impact of DB Pension E p rl cturc overview Expenditures nnade by retirees of state and local government provide a steady econonnic stimulus Key Findings to Illinois communities an-id the stag econonny.In 2020,41,778 residents of Il.linnois received a total of$21.6 million in pension benefits frorn state and local pension plans. F elruefits pa id by state a,rnd "Tlre average,pension laenaet n°scar"ved was$3,31II lcrcall pension pllalnus sulplport M,"ptWr per naa'anntln or$39,814 per year."Ilnese modest y significant eclrnnnoc actllvlt Ilrn t of Contributions benefits provide retired teachers,public safety . • the state .� �/a of lllllli nols. personnel,and others who served the public during the n"working careers income to inset manic Pension belrvef its receivedl by " needs in retirement. retirees acre spent lirn the lcac;all "` co,ir nnm-nLAinlity.This slipe lrodiingi Between 1993 and 2020,36%of Illinois's pension. ripples through the �economy, rnd receipts carne front erriployercorntrib contributions, fu as one erso n's s elrudlirn" p p' cU 14%front employee contributions,and 509c,front becomes airncnthaer Ipers lrn's investment earnings.*Earnings on investments Investment inucermne, creating a miultiplielr c Earnings and employee contributions not taxpayer based effect. 14r SO/ ccautrilaaatonns—have historically trade aala the laaalk in 2020, expenditures of pension fund receipts. stemming fir Irmo statee and comes Recall pensions s'culplp lrted... Impact 11 II I Retiree expenditures stennnning front state and laical pension plan benefits supported I(Ai,4 9 1GG,,48,9,jobs that 1paid $101.4 jobs in the staate.11ne total inc:urrne to,state residents supported by pension expenditrares was billllioin in wages arncil selalries $10.4 billion. $30.3 billion in total economic To lout these ernployrnent inrlaacts in perspective,in 2020 Illinnois's unemployment rate was 9.2tyo. cult p ult 'fire fact that;DB pension expenditures supported 1.66,489 jobs is significant,as it r"epr"esents. 2.6 percentage points in Illinois's labor farce. $ .0 Milli n in federal,state, and Vocal tax revenues Economic Impact State and local pensionfuands in Illinois and other states paid a larval of$21.6 million in benefits to in the state f II lllli rncnis. Illinois residents in 2020.Retirees'expenditures frorn these benefits supported a total of$,'�).13 achn dlcallar paid) Gault in billion in total ecunornic output in the state,and$18.6 billion in value added in the state. pension Ibenefits supported $1. 0 in total economic Impact on Tax Revenues activity in Illinois. "State and local pension payments nnade to Illinois residents supported as total of$4.0 achn dlcrllair"invested" by billion in revenue to federtial,state,and local Federal Tax $1.3 billion llllliinols taxpayers in these governrnents.'raxes paid by retirees and State/Lcrcall Tax $2.7 billion pension 1plairns su.ulppoirtedl beneficiaries directly out of pension payments $3,.88 in total eco ncnlrrruic totaled$211.'9 trillion.Ttiaxe,s attributable to Total $4 billion acclivity in the state. pension expenditures in the local econunry accoaunnted for$3.8 billion in tax revenue. TbLr dsmayncfl ddapdaetonjandIng.ldai"eY,,akaand niethodol gy:see NatioudI kituteon Rodr@11101A 207of217 sd:u,aty,Vu`.�sfri,ntytrn.I t ........................................... .FCaauaax'nrrt.�a1:rrackly cnrrrp a,L�l:e hc�pinwirust P'asnwderur¢wradkw awe h,^nzekh,i��Ic�RicN.re.fl.nernerzts, National Institute on Retirement Security I��.I��I' Pensionomics2723.✓PL asudngthL-Economic Impact cifD8PensrarnEx L-ncldtarr�,s Economic Multiplier Pension Benefit Multiplier � IEachm 1 in state and!,hocah Y OIOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWW a rw 4MIOIOIMWIf peension benleffits,paid to Ilhinrlols mmanmrri nio��a 1 irrrrirrrrrrif""q�g ��""illy 11U.W op 1 Ire�sid'ernts ultimately supported ������� uuum� ������ L- This 1,in t�htp hoer""pant in the state. � ��.4�o n totarh out usu uuuuu„�,, incorporates $1.40 multhpalle rounds of impacts of 1.00 total output retiree spendlncg„as each pension benefits paid to purchase ripples through the retirees In Illinois state economy. ... wNWINIWIWINIWIWINIWIWINIWIWINIIryWIWINIWIWINIWWIa W�I W 1 contributions Taxpaep Investment 4tVp nd localt ' p i, state � ��O � ��NN �� pension Mains supported $3.88 I � U U U vo J000000Ja �� o Jv� t i in totall ouitprut in,the state.This reflects the fact that taxpayer xuuumi Ilmmi uuuuumoi r �� �sauu �� �,antrlit3�ultrcYns are a rtt"nlncYr's�pu.9rCe in I-�.00 .....„ o of financing for iretilrerm"nernt contrikautedkeytaxpaayersto hmenefhts—iinvestmentearni ngs. contributed pensions aver, erstors $3.88 arid ernlplloyee contrhldut'ions t0tal output finance the Morn"s share. *Caution should be usual in interpreting these numbers.See the Iechnicaal Appendix of the frill Pensionor-.nicsrepa rt for detaids. Economic Impacts by Industry Sector Employment the economic.irnpalct raf;state and local.pension benefits ats Industry Irnpact (#Jobs) broadly felt,across variOUS industry sectors in Illl nois."I1ae five Hospitals 11,494 industry sectors with the largest enalaloynlent i:napal8 is are presented in the table txa Llrr"7�It� t;�rvn�„� re�tau.the side. , 2 arar�rt� FUllll-service re taiulrainits G,O'43 Off ices of physicians 5„3311 Other real estaite 4,8211 hi istry totals nclude the first YOUnd oNinhaacts from pensiam payments to state reside nts,and do not as cs Un t fxar recah lure c d"l€ak ag{e"to or,From other staak€s. Economic Impacts by Occupation Category "I1te pension benefits in.Illlinois supported jobs in every civilian Iola category,as shown in the table below. Wage and Wage Supplements Occupation Category Salary and to Wages and Employ Compensation Employment Salary Income Salaries Food Prep,aeration,and Serving 1712 G $3911,248,57:5 $69,08,778' $460,867,3S4 Related Occupations. Off Ice andl A.dlrninistratove 16,828 $894,199,977 $17 ,90:5,3110 $1,069,105,287 Support Occupations 5ailes and Related Occupations 15,873 $746,552,2511 $1135, 811,4 :5 $882,433,747 Healthi are Practitioners anid 12,743 1,2111,597,881 $2611,5 2, 28 $11,473,11 t1,820 Technical Occupations Trainisportabon and Materiiail 111,7 4 $5112,SO6,203 $10S,562,483 $ a18,068, a85 Moving Occupations 208 of 217 Certified Trustee Training Organization: IBuffalo Grove Fire Year: 12024 Dan Pasquarella Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 2 3 4 5 6 Josh Himmelspach Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 2 3 4 5 6 Tom Gough Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 2 3 4 5 6 Larry Stanley Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 CBOE Digital Crypto Education Evemt 1 1/24/2024 Yes 2 FPIF Board Meeting 0.5 2/2/2024 Yes 3 FOIA Training X 3/6/2024 Yes 4 5 6 Chris Black Hours Date Hours Required Type of Training Completed Completed Cert on File 1 8 2 3 4 5 6 Hours Date Hours Required Type of Training Completed Completed Cert on File 1 2 3 4 5 Page 1 of 2 209 of 217 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. ii .Iliii ..- � 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 210 of 217 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. 211 of 217 0 04 WmF dvp bh Xj 'A LO ALA 41 ej� A W„p asC4 W 1-14 IJ (A .............. qA IA fli cl, 03 "q 0 4.1 0 4J 11) 4 Itf d > (L Gil YV. AIJ Ij (,h kl ra Qf aea CY, C) A) w 41 L, * !,� J'J (J KDI qr, C2 ql� ku, 0 12 owl' (IJ ri", 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,:Vmy 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 imake a Y oorrw 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 213 of 217 O G O O cu 06 r_ cu E @i N ' O C -0voi `� O 0 N �O Z Cf} Et> {c> (f} 69- > .� v O co �. co 'Q/� V N O N co J) � f6 2 Q L V � Z° 4) Z a c Y o 0 L '� O � ff} 6o, K} (f> V ui a � = O a) N i o W a? m ca N I.f N M �+ CD az J L CO y a M � Co Q Z to 0 H o N o d � C:) C C r N O G O p CN WsT O p = Nx a� coco CD � 0-= a to - to Z m � QC Z Ri O o0 Co ff - Y.1 QoO N C4 y Cl) Cfl `O Lu Q fn O Q OJN 2? N N O aoQ W L.- N i o � M L L N � J d � = � c = Q C 0 LU Q (, M f E o Cl) Z •ca C = a) a) z 4 Q CL W O }+ O N O (n > Q 0 O N � E W N o 0 a' Q co > � aLiN W ,; � � � � a d L az L L N Z (D a a) ° So O :11 oo = U�o - co N co a- E _ < +- N o �i � a- o c0i m ° o �o ayi Z E � i vs o = ox •� CD 0 — M t� w m o W J � •n LL CD i � " o � W m Q) r U O LL m a� N CO) O Q E >i M Mo o a z 00Eo = U 2) O M d U y" m — _ W CB � m y O Cl) E _ a- � O U E a) O a j Q a) cn Q L �+ Ecn a „ 0 L Q LL IL w�.+ 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 215 of 217 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. 216 of 217 O wr C: m o E a I-- 2 0 • E m 0 -2 2 L:3 �E 0 .2 (D CD C14 0 c m o 2 2 CL E 0 -0 z m CL -0 04 CL C) -0 >1 c C'4 a) — ce) 0 C 0) d) 0 45 0) o 0 m = 2E 0 '2 ej E C:) d) 0 0 co C: A 0 1 0 18 c 0 C14 cm o m 46 0 =3 w z 06 C14 ca) U) —0 n 44) LL - r 0 r 2 Z 0 0 ID-6 0) c a 0 -2 a CL � a) LL U m LL CD E 0 ::r S! z a) 0 0 = n m 0 b 20 LL r LL 4) 0u. > 14—W ui m > 4a CL a 4 �l 0 CD E 0 -j L<l- 0