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2025-01-23 - Police Pension Board - Agenda PacketBuffalo Grove Police Pension Fund 46 Raupp Boulevard, Buffalo Grove, Illinois 60089 Tony Turano Cody Barker Tony Montiel Jeff Feld Kenneth Fox President Trustee Secretary Asst. Secretary Trustee NOTICE OF A REGULAR MEETING OF THE BOARD OF TRUSTEES The Buffalo Grove Police Pension Fund Board of Trustees will conduct a regular meeting on Thursday, January 23, 2025 at 10:00 a.m. in the Buffalo Grove Police Department located at 46 Raupp Boulevard, Buffalo Grove, Illinois 60089, for the purposes set forth in the following agenda: AGENDA 1.Call to Order 2.Roll Call 3.Public Comment (limit of 3 minutes per person) 4.Approval of Meeting Minutes a.October 24, 2024 Regular Meeting b.Semi-Annual Review of Closed Session Meeting Minutes 5.Treasurer’s Report 6.Accountant’s Report – Lauterbach & Amen, LLP a.Monthly Financial Report b.Presentation and Approval of Bills c.Additional Bills, if any d.Discussion/Possible Action – Cash Management Policy 7.Investment Report a.IPOPIF – Verus Advisory, Inc. i.State Street Statements 8.Applications for Membership/Withdrawals from Fund 9.Applications for Retirement/Disability Benefits a.Approve Revised Regular Retirement Benefits – Janet Freeman and Gregory Schwall 10.Old Business 11.New Business a.Approve Annual Cost of Living Adjustments for Pensioners b.Review Trustee Term Expirations and Election Procedures 12.Trustee Training Updates a.Approval of Trustee Training Registration Fees and Reimbursable Expenses 13.Communications and Reports a.Affidavits of Continued Eligibility b.Statements of Economic Interest 14.Attorney’s Report – Reimer Dobrovolny & LaBardi PC a.Legal Updates b.Review, Adopt and Publish Decision and Order – Michael Corrigan 15.Closed Session, if needed 16.Adjournment 1 of 86 MINUTES OF A REGULAR MEETING OF THE BUFFALO GROVE POLICE PENSION FUND BOARD OF TRUSTEES OCTOBER 24, 2024 A regular meeting of the Buffalo Grove Police Pension Fund Board of Trustees was held on Thursday, October 24, 2024 at 10:00 a.m. in the Buffalo Grove Police Department located at 46 Raupp Boulevard, Buffalo Grove, Illinois 60089, pursuant to notice. CALL TO ORDER: Trustee Turano called the meeting to order at 10:03 a.m. ROLL CALL: PRESENT: Trustees Tony Turano, Cody Barker, Jeff Feld and Ken Fox ABSENT: Trustee Tony Montiel ALSO PRESENT: Attorney Brian LaBardi (via teleconference), Reimer Dobrovolny & LaBardi PC; Molly Barker, Lauterbach & Amen, LLP (L&A); Finance Director Chris Black and Denise Bocek, Village of Buffalo Grove PUBLIC COMMENT: There was no public comment. APPROVAL OF MINUTES: July 17, 2024 Regular Meeting: The Board reviewed the July 17, 2024 regular meeting minutes. A motion was made by Trustee Turano and seconded by Trustee Fox to approve the July 17, 2024 regular meeting minutes as written. Motion carried unanimously by voice vote. TREASURER’S REPORT: There was no Treasurer’s Report presented. ACCOUNTANT’S REPORT – LAUTERBACH & AMEN, LLP: Monthly Financial Report and Presentation and Approval of Bills: The Board reviewed the Monthly Financial Report for the nine-month period ending September 30, 2024 prepared by L&A. As of September 30, 2024, the net position held in trust for pension benefits is $104,715,676.31 with a change in position of $10,055,079.66. The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal, Quarterly Deduction Report, Quarterly Transfer Report and Quarterly Disbursement Report for the period July 1, 2024 through September 30, 2024 for total disbursements of $37,617.45. A motion was made by Trustee Feld and seconded by Trustee Fox to accept the Monthly Financial Report as presented and to approve the disbursements shown on the Quarterly Disbursement Report in the amount of $37,617.45. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel Additional Bills, if any: There were no additional bills presented for approval. Repeat Monthly Withdrawals for 2025: The Board reviewed the Repeat Monthly Withdrawals form for 2025. A motion was made by Trustee Fox and seconded by Trustee Barker to set the 2 of 86 Buffalo Grove Police Pension Fund Meeting Minutes – October 24, 2024 Page 2 of 4 repeat monthly withdrawal amount to $600,000 to be sent in cash from IPOPIF effective January 15, 2025. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel Discussion/Possible Action – Cash Management Policy: The Board reviewed the current cash management procedures and discussed the Schwab money market account. A motion was made by Trustee Fox and seconded by Trustee Turano to amend the target balance in the Schwab money market account to $600,000 and once the balance exceeds more than $700,000, transfer the excess funds to the BMO Bank operating account to be sent to IPOPIF for investment purposes. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel INVESTMENT REPORT: IPOPIF – Verus Advisory, Inc. and State Street Statements: The Board reviewed the IPOPIF Investment Performance Review prepared by Verus Advisory, Inc. for the period ending August 31, 2024. As of August 31, 2024, the one-month total net return is 2% for an ending market value of $11,078,622,107. The Board also reviewed the IPOPIF Market Value Summary and Statement of Transaction Detail for the period ending September 30, 2024. The beginning value was $101,268,658.86 and the ending value was $103,440,574.45. The month-to-date net return was 1.56%. APPLICATIONS FOR MEMBERSHIP/WITHDRAWALS FROM FUND: Applications for Membership – Oliver Sorisho, Aeden Young and Cassandra Arreola: The Board reviewed the Applications for Membership submitted by Oliver Sorisho, Aeden Young and Cassandra Arreola. A motion was made by Trustee Barker and seconded by Trustee Fox to accept Oliver Sorisho effective April 22, 2024 and Aeden Young and Cassandra Arreola effective August 19, 2024 into the Buffalo Grove Police Pension Fund as Tier II participants. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Approve Regular Retirement Benefits – Michael Corrigan: The Board reviewed the regular retirement benefit calculation for Michael Corrigan prepared by L&A. Corporal Corrigan had an entry date of May 13, 1991, retirement date of January 28, 2001, effective date of pension of September 17, 2024, 60 years of age at date of retirement, 9 years of creditable service, applicable salary of $53,895.68, applicable pension percentage of 22.5%, amount of originally granted monthly pension of $1,010.54 and amount of originally granted annual pension of $12,126.48. A motion was made by Trustee Turano and seconded by Trustee Fox to approve Michael Corrigan’s regular retirement benefit calculated by L&A. Motion carried by roll call vote. 3 of 86 Buffalo Grove Police Pension Fund Meeting Minutes – October 24, 2024 Page 3 of 4 AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel OLD BUSINESS: Portability Update – Julie Ramirez: The Board discussed Julie Ramirez’s transfer of creditable service. A motion was made by Trustee Turano and seconded by Trustee Feld to authorize payment in the amount of $402,545.24 to the Campton Hills Police Pension Fund for Julie Ramirez’s transfer of creditable service. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel Military Purchase – Derek Hawkins: The Board discussed the military purchase for Derek Hawkins and reviewed the five-year payment plan to be utilized for the purchase which includes a 6% interest rate. A motion was made by Trustee Fox and seconded by Trustee Barker to approve the payment plan as prepared with payroll deductions commencing with the December 19, 2024 pay date subject to the payment agreement prepared by Attorney LaBardi. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel NEW BUSINESS: Establish 2025 Board Meeting Dates: The Board discussed establishing the 2025 Board meeting dates as January 23, 2025; April 24, 2025; July 24, 2025; and October 23, 2025 at 10:00 a.m. at the Buffalo Grove Police Department located at 46 Raupp Boulevard, Buffalo Grove, Illinois 60089. A motion was made by Trustee Turano and seconded by Trustee Barker to establish the 2025 Board meeting dates as stated. Motion carried by roll call vote. AYES: Trustees Turano, Barker, Feld and Fox NAYS: None ABSENT: Trustee Montiel TRUSTEE TRAINING UPDATES: The Board reviewed the Trustee Training Summary and discussed upcoming training opportunities. Trustees were reminded to submit any certificates of completion to L&A for recordkeeping. Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training registration fees or reimbursable expenses presented for approval. COMMUNICATION AND REPORTS: Affidavits of Continued Eligibility: The Board noted that Affidavits of Continued Eligibility will be mailed to all pensioners in December 2024. A status update will be provided at the next regular meeting. ATTORNEY’S REPORT – REIMER DOBROVOLNY & LABARDI PC: Legal Updates: The Board reviewed the Legal and Legislative Update quarterly newsletter. Attorney LaBardi discussed recent court cases and decisions, as well as general pension matters with the Board. 4 of 86 Buffalo Grove Police Pension Fund Meeting Minutes – October 24, 2024 Page 4 of 4 CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Turano and seconded by Trustee Feld to adjourn the meeting at 10:51 a.m. Motion carried unanimously by voice vote. The next regular meeting is January 23, 2025 at 10:00 a.m. __________________________________ Board President or Secretary Minutes approved by the Board of Trustees on ___________________ Minutes prepared by Molly Barker, Professional Services Administrator, Lauterbach & Amen, LLP 5 of 86 Monthly Financial Report For the Month Ended November 30, 2024 Prepared By 668 N. RIVER ROAD • NAPERVILLE, ILLINOIS 60563 PHONE 630.393.1483 • FAX 630.393.2516 www.lauterbachamen.com 6 of 86 Buffalo Grove Police Pension Fund Table of Contents Starting on Page Accountants' Compilation Report................................................................................................1-1 Financial Statements Statement of Net Position - Modified Cash Basis................................................................... 2-1 Statement of Changes in Net Position - Modified Cash Basis................................................ 2-2 Other Supplementary Information Pooled Investment NAV vs Accumulated Net Investments Graph..........................................3-1 Cash Analysis Report............................................................................................................... 4-1 Cash Transfer to/from Consolidated Fund Graph.................................................................... 5-1 Revenue Report....................................................................................................................... 6-1 Cash Analysis Summary Graph............................................................................................... 7-1 Expense Report........................................................................................................................ 8-1 Pension Benefits and Expenses Graph.................................................................................... 9-1 Member Contribution Report.................................................................................................. 10-1 Payroll Batch Report............................................................................................................... 11-1 Quarterly Deduction Report.................................................................................................... 12-1 Quarterly Transfer Report........................................................................................................ 13-1 Quarterly Disbursement Report............................................................................................... 14-1 7 of 86 8 of 86 January 20, 2025 Buffalo Grove Police Pension Fund 46 Raupp Boulevard Buffalo Grove, IL 60089 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Buffalo Grove Police Pension Fund which comprise the statement of net position -modified cash basis as of November 30,2024 and the related statement of changes in net position -modified cash basis for the eleven 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, Lauterbach & Amen, LLP Lauterbach & Amen, LLP 1-1 9 of 86 10 of 86 Assets Cash and Cash Equivalents 10,023.29$ Investments at Fair Market Value Money Market Mutual Funds 330,766.21 Stock Equities 678,033.90 Pooled Investments 102,701,201.58 Total Cash and Investments 103,720,024.98 Due from Municipality 12,394.00 Prepaids 795.00 Total Assets 103,733,213.98 Liabilities Expenses Due/Unpaid 3,043.08 Total Liabilities 3,043.08 Net Position Held in Trust for Pension Benefits 103,730,170.90 Buffalo Grove Police Pension Fund Statement of Net Position - Modified Cash Basis As of November 30, 2024 See Accountants' Compilation Report 2-1 11 of 86 Additions Contributions - Municipal 3,393,620.99$ Contributions - Members 790,129.10 Total Contributions 4,183,750.09 Investment Income Interest and Dividends Earned 542,367.30 Net Change in Fair Value 10,773,951.24 Total Investment Income 11,316,318.54 Less Investment Expense (53,842.12) Net Investment Income 11,262,476.42 Total Additions 15,446,226.51 Deductions Administration 56,767.31 Pension Benefits and Refunds Pension Benefits 5,905,957.40 Refunds 413,927.55 Total Deductions 6,376,652.26 Change in Position 9,069,574.25 Net Position Held in Trust for Pension Benefits Beginning of Year 94,660,596.65 End of Period 103,730,170.90 Buffalo Grove Police Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Eleven Months Ended November 30, 2024 See Accountants' Compilation Report 2-2 12 of 86 13 of 86 14 of 86 12/31/23 01/31/24 02/29/24 03/31/24 04/30/24 05/31/24 06/30/24 07/31/24 08/31/24 09/30/24 10/31/24 11/30/24 Financial Institutions BMO Bank - CK 82,974$80,834 15,217 10,041 10,062 241,569 10,150 10,006 167,169 9,989 10,749 10,023 82,974 80,834 15,217 10,041 10,062 241,569 10,150 10,006 167,169 9,989 10,749 10,023 Schwab - MM 583,062 578,577 663,960 585,245 578,494 550,637 881,454 672,270 576,774 652,903 269,495 330,766 583,062 578,577 663,960 585,245 578,494 550,637 881,454 672,270 576,774 652,903 269,495 330,766 Total 666,036 659,411 679,177 595,286 588,556 792,206 891,604 682,276 743,943 662,892 280,244 340,789 Contributions Current Tax 101,643 1,645 120,442 395,947 - 146,976 1,172,178 106,257 313,903 1,003,786 126,919 5,569 Contributions - Current Year 52,605 56,042 77,605 51,532 51,199 52,145 53,259 53,086 79,070 54,150 52,834 53,468 Contributions - Prior Year 483 64,588 734 493 495 498 501 503 760 510 513 516 Interest Received from Members 159 156 230 150 147 145 142 139 204 132 130 127 Other Member Revenue - 83,929 ----- --- -- 154,890 206,360 199,011 448,122 51,841 199,764 1,226,080 159,985 393,937 1,058,578 180,396 59,680 Expenses Pension Benefits 513,235 532,141 536,777 533,115 533,115 533,115 533,115 538,530 540,744 541,216 542,044 542,044 Refunds/Transfers of Service 792 --- 11,382 -- --- 402,545 - Administration 9,824 8,310 6,855 10,441 10,584 8,266 7,511 9,802 23,137 4,679 6,596 14,429 523,851 540,451 543,632 543,556 555,081 541,381 540,626 548,332 563,881 545,895 951,185 556,473 Total Contributions less Expenses (368,961) (334,091) (344,621) (95,434) (503,240) (341,617)685,454 (388,347) (169,944)512,683 (770,789) (496,793) Buffalo Grove Police Pension Fund Cash Analysis Report For the Twelve Periods Ending November 30, 2024 See Accountants' Compilation Report 4-1 15 of 86 Buffalo Grove Police Pension Fund (600,000) (400,000) (200,000) - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Cash Transfers to/from Consolidated Fund Cash Transfers into Consolidated Fund Cash Transfers out of Consolidated Fund See Accountants' Compilation Report 5-1 16 of 86 Contributions Contributions - Municipal 41-210-00 - Current Tax 5,569.07$3,393,620.99 5,569.07 3,393,620.99 Contributions - Members 41-410-00 - Contributions - Current Year 53,467.99 634,388.34 41-420-00 - Contributions - Prior Year 515.61 70,110.14 41-440-00 - Interest Received from Members 126.87 1,701.22 41-450-00 - Other Member Revenue 0.00 83,929.40 54,110.47 790,129.10 Total Contributions 59,679.54 4,183,750.09 Investment Income Interest and Dividends 43-102-09 - BMO Bank - Checking 0.00 1,873.84 43-252-09 - Schwab - Fixed Income #8061 1,591.39 24,385.27 43-450-09 - Schwab - Stock Equities #8061 0.00 4,440.00 43-800-01 - IPOPIF Consolidated Pool Income 56,005.54 511,156.18 57,596.93 541,855.29 Gains and Losses 44-450-09 - Schwab - Stock Equities #8061 78,456.30 262,139.10 44-800-01 - IPOPIF Consolidated Pool - Unrealized 2,257,265.99 7,815,823.36 44-800-02 - IPOPIF Consolidated Pool - Realized 80.30 2,695,988.78 2,335,802.59 10,773,951.24 Other Income 49-000-01 - Other Income 13.25 512.01 13.25 512.01 Total Investment Income 2,393,412.77 11,316,318.54 Total Revenue 2,453,092.31 15,500,068.63 Buffalo Grove Police Pension Fund Revenue Report as of November 30, 2024 Received Received this Month this Year See Accountants' Compilation Report 6-1 17 of 86 18 of 86 Expended Expended this Month this Year Pensions and Benefits 51-020-00 - Service Pensions 507,123.62$5,518,168.83 51-030-00 - Non-Duty Disability Pensions 0.00 3,661.75 51-040-00 - Duty Disability Pensions 3,548.30 39,031.30 51-060-00 - Surviving Spouse Pensions 31,372.32 345,095.52 51-100-00 - Refund of Contributions 0.00 83,331.43 51-110-00 - Transfers to Other Pensions 0.00 330,596.12 Total Pensions and Benefits 542,044.24 6,319,884.95 Administrative Insurance 52-150-01 - Fiduciary Insurance 0.00 8,579.00 0.00 8,579.00 Professional Services 52-170-01 - Actuarial Services 0.00 3,260.00 52-170-03 - Accounting & Bookkeeping Services 1,985.00 19,770.00 52-170-05 - Legal Services 0.00 5,973.83 52-170-06 - PSA/Court Reporter 1,510.00 16,565.00 3,495.00 45,568.83 Investment 52-190-01 - Investment Manager/Advisor Fees 0.00 1,750.00 52-195-02 - Administrative Expense (IPOPIF)1,401.55 15,197.30 52-195-03 - Investment Expense (IPOPIF)1,564.11 14,487.35 52-195-04 - Investment Manager Fees (IPOPIF)7,968.02 22,407.47 10,933.68 53,842.12 Other Expense 52-290-25 - Conference/Seminar Fees 0.00 1,190.00 52-290-26 - Association Dues 0.00 825.00 52-290-27 - Travel Expense 0.00 604.48 0.00 2,619.48 Total Administrative 14,428.68 110,609.43 Total Expenses 556,472.92 6,430,494.38 Buffalo Grove Police Pension Fund Expense Report as of November 30, 2024 See Accountants' Compilation Report 8-1 19 of 86 Buffalo Grove Police Pension Fund - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 Service Non-Duty Disability Duty Disability Surviving Spouse Refund Transfers Administrative Expenses 5,518,169 3,662 39,031 345,096 83,331 330,596 110,609 Pension Benefits and Expenses See Accountants' Compilation Report 9-1 20 of 86 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Anderson, Tara E.$211,436.52 15,236.26 0.00 0.00 226,672.78 Baker, Malcolm E.220,728.49 10,830.67 0.00 0.00 231,559.16 Barker, Cody W.3,879.58 10,498.56 64,101.60 0.00 78,479.74 Bock, Cynthia 151,459.08 11,102.59 0.00 0.00 162,561.67 Broussard, Robert D.170,461.68 14,369.82 0.00 0.00 184,831.50 Budds, Brian J.20,890.13 18,500.92 0.00 0.00 39,391.05 De La Paz, Hector 253,898.60 13,441.63 0.00 0.00 267,340.23 Dibble, Crystal 155,452.41 10,759.35 0.00 0.00 166,211.76 Dimeler, Daniel D.159,755.12 11,083.18 0.00 0.00 170,838.30 Gewargis, Brandon L.5,342.69 7,710.71 0.00 0.00 13,053.40 Hansen, Brian R.122,928.77 12,292.66 0.00 0.00 135,221.43 Hansen, Meghan C.139,386.25 12,081.72 0.00 0.00 151,467.97 Hawkins, Derek T.149,724.83 11,102.58 0.00 0.00 160,827.41 Hill, Gregory R.162,838.68 11,047.22 0.00 0.00 173,885.90 Kaiser, Chadd L.148,333.72 10,697.57 0.00 0.00 159,031.29 Krozel, Ashley E.145,927.46 11,757.11 0.00 0.00 157,684.57 Lowenberg, Kurt D.232,651.44 11,827.18 0.00 0.00 244,478.62 Mills, Matthew C.193,400.26 11,753.61 0.00 0.00 205,153.87 Nugent, Thomas P.287,286.01 15,442.25 0.00 0.00 302,728.26 Olague, David 2,791.40 7,558.98 0.00 0.00 10,350.38 Rodriguez, Michael A.245,910.40 16,296.64 0.00 0.00 262,207.04 Rossi, Marc D.156,464.67 11,102.58 0.00 0.00 167,567.25 Shipman, Douglas S.170,980.98 13,417.19 0.00 0.00 184,398.17 Spolar, Brian A.236,398.68 16,296.64 0.00 0.00 252,695.32 Tirovolas, Hristos H.13,959.81 9,112.86 0.00 0.00 23,072.67 Turano, Anthony R.165,667.45 14,829.50 0.00 0.00 180,496.95 Verduzco, Jaime A.163,016.22 11,953.17 0.00 0.00 174,969.39 Wolf, Denys 0.00 317.08 0.00 0.00 317.08 Zuniga, Edwin 5,342.69 7,707.11 0.00 0.00 13,049.80 Arreola, Cassandra 0.00 1,981.00 0.00 0.00 1,981.00 Augustyniak, Gabriel 19,944.18 8,938.71 0.00 0.00 28,882.89 Carlson, Michael D.126,760.01 11,038.49 7,709.76 0.00 145,508.26 Cholewa, Amy L.78,733.81 10,708.64 0.00 0.00 89,442.45 Diaz, Maegan D.24,019.93 8,784.94 0.00 0.00 32,804.87 Essig, Michael J.92,031.92 10,708.64 0.00 0.00 102,740.56 Franzen, Taylor A.53,684.09 10,708.64 0.00 0.00 64,392.73 Gasca, Robert Jr.26,886.20 11,023.29 0.00 0.00 37,909.49 Jigalov, Adrian G.111,980.03 11,082.75 0.00 0.00 123,062.78 Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended November 30, 2024 See Accountants' Compilation Report 10-1 21 of 86 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended November 30, 2024 Kass, Ryan T.88,778.64 10,719.71 0.00 0.00 99,498.35 Khan, Masood A.191,288.69 10,708.64 0.00 0.00 201,997.33 Kreis, Nicholas R.36,497.53 9,478.35 0.00 0.00 45,975.88 Kroski, Timothy M.32,261.35 11,023.31 0.00 0.00 43,284.66 Lamb, Kevin J.86,262.73 11,082.78 0.00 0.00 97,345.51 Larys, Chad K.11,307.11 11,055.37 0.00 0.00 22,362.48 Lawyer, Robert J. 36,004.09 9,478.34 0.00 0.00 45,482.43 McMillon, Shannon T.154,551.72 11,082.77 0.00 0.00 165,634.49 Officer, Jonathan D.152,102.60 10,708.64 0.00 0.00 162,811.24 O'Neill, Collan W.12,407.01 8,078.30 0.00 0.00 20,485.31 Rudnick, Joel A.135,573.46 11,082.75 0.00 0.00 146,656.21 Rygiel, Andrew T.64,631.15 10,614.51 0.00 0.00 75,245.66 Sarat, Eric M.50,381.33 10,259.02 0.00 0.00 60,640.35 Sorisho, Oliver T.0.00 4,851.33 0.00 0.00 4,851.33 Standish, Nicolas J.15,035.23 9,118.30 0.00 0.00 24,153.53 Stephans, Drew M.0.00 8,104.86 0.00 0.00 8,104.86 Tijerina, Brian A.76,371.66 11,062.94 0.00 0.00 87,434.60 Valstyn, Ross B.106,769.56 11,082.74 0.00 0.00 117,852.30 Wojs, Dawid 34,075.79 9,349.76 0.00 0.00 43,425.55 Young, Aeden E.0.00 1,950.99 0.00 0.00 1,950.99 Zuk, Edyta W.22,939.69 10,823.39 0.00 0.00 33,763.08 5,937,593.53 626,819.24 71,811.36 0.00 6,636,224.13 Freeman, Janet I.231,534.03 6,818.07 0.00 0.00 238,352.10 Ramirez, Julie M. 1 71,949.12 0.00 0.00 (71,949.12) 0.00 Schwall, Gregory R.264,279.04 751.03 0.00 0.00 265,030.07 Sjodin, Jacob A.11,382.31 0.00 0.00 (11,382.31) 0.00 Totals 6,516,738.03 634,388.34 71,811.36 (83,331.43) 7,139,606.30 Inactive/Terminated Members See Accountants' Compilation Report 10-2 22 of 86 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Buffalo Grove Police Pension Fund Member Contribution Report As of Month Ended November 30, 2024 41-420-00 41-440-00 41-450-00 Prior Year Interest from Other Member Name - Type of Purchase Contributions Members Revenue Total Barker, Cody W. - Portability - Principal 2,598.94 0.00 0.00 2,598.94 Barker, Cody W. - Portability - Prior Fund Employee 51,703.18 0.00 0.00 51,703.18 Barker, Cody W. - Portability - Prior Fund Employee 9,799.48 0.00 0.00 9,799.48 Barker, Cody W. - Portability - Prior Fund Employer 0.00 0.00 83,929.40 83,929.40 Carlson, Michael D. - Limited Time Transfer - Principal 6,008.54 0.00 0.00 6,008.54 Carlson, Michael D. - Limited Time Transfer - Interest 0.00 1,701.22 0.00 1,701.22 Totals 70,110.14 1,701.22 83,929.40 155,740.76 1 - Portability Transfer to Campton Hills Police plus interest $129,323.50 and employer match of $201,272.62 Service Purchases See Accountants' Compilation Report 10-3 23 of 86 Duty Disability ***-**0318 100908 Stopper, Lora L. 0 $3,548.30 $3,548.30 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**0318 Subtotal:$3,548.30 $3,548.30 $0.00 $0.00 $0.00 $0.00 $0.00 Duty Disability Subtotal:$3,548.30 $3,548.30 $0.00 $0.00 $0.00 $0.00 $0.00 QILDRO ***-**9818 Q111422 Friend, Cynthia L. 0 $1,657.63 $1,958.13 $0.00 $0.00 $0.00 $0.00 $300.50 ***-**9818 Subtotal:$1,657.63 $1,958.13 $0.00 $0.00 $0.00 $0.00 $300.50 ***-**3789 Q124431 Halverson, Cindy J. 399 $2,994.03 $3,263.29 $0.00 $0.00 $0.00 $0.00 $269.26 ***-**3789 Subtotal:$2,994.03 $3,263.29 $0.00 $0.00 $0.00 $0.00 $269.26 ***-**0531 Q126568 Nelson, Cheryl 0 $2,186.85 $2,336.76 $0.00 $0.00 $0.00 $0.00 $149.91 ***-**0531 Subtotal:$2,186.85 $2,336.76 $0.00 $0.00 $0.00 $0.00 $149.91 ***-**5622 Q126523 Sebo, Linda A. 0 $1,456.19 $2,083.93 $0.00 $0.00 $0.00 $0.00 $127.74 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-1 24 of 86 Q126523 Payment to Fifth Third Bank, Sebo - 0 $500.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**5622 Subtotal:$1,956.19 $2,083.93 $0.00 $0.00 $0.00 $0.00 $127.74 QILDRO Subtotal:$8,794.70 $9,642.11 $0.00 $0.00 $0.00 $0.00 $847.41 Service ***-**5875 100922 Aradi, Lester 0 $6,636.31 $8,791.52 $1,317.74 $82.09 $0.00 $0.00 $755.38 ***-**5875 Subtotal:$6,636.31 $8,791.52 $1,317.74 $82.09 $0.00 $0.00 $755.38 ***-**1662 100933 Balinski, Steve S. 0 $10,617.39 $13,444.71 $0.00 $0.00 $0.00 $0.00 $2,827.32 ***-**1662 Subtotal:$10,617.39 $13,444.71 $0.00 $0.00 $0.00 $0.00 $2,827.32 ***-**9343 100934 Bennett, William H. 0 $5,530.90 $5,530.90 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**9343 Subtotal:$5,530.90 $5,530.90 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**9142 111928 Bethge, Roy H. 0 $7,143.56 $9,542.89 $775.11 $49.02 $0.00 $0.00 $1,575.20 ***-**9142 Subtotal:$7,143.56 $9,542.89 $775.11 $49.02 $0.00 $0.00 $1,575.20 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-2 25 of 86 ***-**8135 100931 Bottenhagen, Donald H. 0 $4,682.01 $5,898.83 $0.00 $0.00 $0.00 $0.00 $1,216.82 ***-**8135 Subtotal:$4,682.01 $5,898.83 $0.00 $0.00 $0.00 $0.00 $1,216.82 ***-**4666 103819 Bourbonnais, Christy R. 0 $4,446.16 $4,676.70 $0.00 $0.00 $0.00 $0.00 $230.54 ***-**4666 Subtotal:$4,446.16 $4,676.70 $0.00 $0.00 $0.00 $0.00 $230.54 ***-**6799 109627 Bourbonnais, Keith T. 0 $4,766.56 $6,722.78 $0.00 $0.00 $0.00 $0.00 $956.22 109627 Payment to Consumers Credit Union, Bourbonnais - 0 $1,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**6799 Subtotal:$5,766.56 $6,722.78 $0.00 $0.00 $0.00 $0.00 $956.22 ***-**3406 100913 Bucalo, Mark W. 0 $9,038.74 $10,138.73 $0.00 $0.00 $0.00 $0.00 $1,099.99 ***-**3406 Subtotal:$9,038.74 $10,138.73 $0.00 $0.00 $0.00 $0.00 $1,099.99 ***-**7567 123324 Casstevens, Steven R. 0 $3,934.50 $4,582.77 $0.00 $0.00 $0.00 $0.00 $648.27 ***-**7567 Subtotal:$3,934.50 $4,582.77 $0.00 $0.00 $0.00 $0.00 $648.27 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-3 26 of 86 ***-**3095 100912 Chrobak, Deborah J. 0 $5,683.65 $6,768.38 $0.00 $8.12 $0.00 $0.00 $1,076.61 ***-**3095 Subtotal:$5,683.65 $6,768.38 $0.00 $8.12 $0.00 $0.00 $1,076.61 ***-**8149 100904 Clyburn, Richard 0 $7,030.11 $8,061.39 $0.00 $73.97 $0.00 $0.00 $632.31 100904 Payment to Metro Federal Credit Union, Clyburn - 0 $325.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**8149 Subtotal:$7,355.11 $8,061.39 $0.00 $73.97 $0.00 $0.00 $632.31 ***-**6920 127383 Corrigan, Michael J. 0 $1,010.54 $1,010.54 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**6920 Subtotal:$1,010.54 $1,010.54 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**5068 100939 Crimmins, John E. 0 $4,180.20 $4,486.20 $0.00 $0.00 $0.00 $0.00 $306.00 ***-**5068 Subtotal:$4,180.20 $4,486.20 $0.00 $0.00 $0.00 $0.00 $306.00 ***-**7809 115557 Dattilo, Thomas J. 0 $6,724.86 $8,325.10 $0.00 $0.00 $0.00 $0.00 $1,600.24 ***-**7809 Subtotal:$6,724.86 $8,325.10 $0.00 $0.00 $0.00 $0.00 $1,600.24 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-4 27 of 86 ***-**4155 118269 Derken, Thomas P. 0 $6,472.54 $7,077.13 $0.00 $0.00 $0.00 $0.00 $604.59 ***-**4155 Subtotal:$6,472.54 $7,077.13 $0.00 $0.00 $0.00 $0.00 $604.59 ***-**7862 100937 Dunne, James J. 0 $8,736.39 $10,760.94 $0.00 $0.00 $0.00 $0.00 $2,024.55 ***-**7862 Subtotal:$8,736.39 $10,760.94 $0.00 $0.00 $0.00 $0.00 $2,024.55 ***-**1862 123003 Eisenmenger, Scott D. 0 $6,865.99 $9,022.55 $0.00 $0.00 $0.00 $0.00 $2,156.56 ***-**1862 Subtotal:$6,865.99 $9,022.55 $0.00 $0.00 $0.00 $0.00 $2,156.56 ***-**0402 127118 Freeman, Janet I. 0 $4,717.47 $7,629.14 $1,565.75 $82.09 $0.00 $0.00 $713.83 127118 Payment to Metro Federal Credit Union, Freeman - 0 $550.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**0402 Subtotal:$5,267.47 $7,629.14 $1,565.75 $82.09 $0.00 $0.00 $713.83 ***-**3773 109751 Gallagher, Anthony P. 0 $7,907.23 $9,463.10 $0.00 $0.00 $0.00 $0.00 $1,555.87 ***-**3773 Subtotal:$7,907.23 $9,463.10 $0.00 $0.00 $0.00 $0.00 $1,555.87 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-5 28 of 86 ***-**3990 125470 Goldstein, Anthony M. 0 $7,519.00 $8,315.15 $0.00 $0.00 $0.00 $0.00 $796.15 ***-**3990 Subtotal:$7,519.00 $8,315.15 $0.00 $0.00 $0.00 $0.00 $796.15 ***-**3599 125472 Gretz, Timothy J. 0 $6,494.61 $9,931.24 $0.00 $0.00 $0.00 $2,336.76 $1,099.87 ***-**3599 Subtotal:$6,494.61 $9,931.24 $0.00 $0.00 $0.00 $2,336.76 $1,099.87 ***-**7180 100910 Haisley, Stephen D. 0 $7,215.61 $7,957.17 $0.00 $73.97 $0.00 $0.00 $667.59 ***-**7180 Subtotal:$7,215.61 $7,957.17 $0.00 $73.97 $0.00 $0.00 $667.59 ***-**7400 115575 Halverson, David W. 0 $3,409.42 $7,654.30 $616.63 $49.02 $0.00 $3,263.29 $315.94 ***-**7400 Subtotal:$3,409.42 $7,654.30 $616.63 $49.02 $0.00 $3,263.29 $315.94 ***-**4307 115399 Hamelberg, Rollin S. 0 $6,222.08 $7,945.92 $0.00 $0.00 $0.00 $0.00 $1,723.84 ***-**4307 Subtotal:$6,222.08 $7,945.92 $0.00 $0.00 $0.00 $0.00 $1,723.84 ***-**4510 111880 Harris, James A.$1,966.51 $7,435.53 $775.11 $82.09 $0.00 $0.00 $1,111.82 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-6 29 of 86 0 111880 Payment to Old National Bank, Harris - 0 $3,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 111880 Payment to Peoples Exch. Bank, Harris - 0 $500.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**4510 Subtotal:$5,466.51 $7,435.53 $775.11 $82.09 $0.00 $0.00 $1,111.82 ***-**7216 103818 Heiderscheidt, John J. 0 $3,605.17 $4,459.53 $0.00 $0.00 $0.00 $0.00 $854.36 ***-**7216 Subtotal:$3,605.17 $4,459.53 $0.00 $0.00 $0.00 $0.00 $854.36 ***-**7270 123629 Horbus, Frank S. 0 $6,681.97 $7,363.98 $0.00 $0.00 $0.00 $0.00 $682.01 ***-**7270 Subtotal:$6,681.97 $7,363.98 $0.00 $0.00 $0.00 $0.00 $682.01 ***-**2288 104149 Husak, Steven D. 0 $6,003.79 $8,637.51 $0.00 $0.00 $0.00 $0.00 $2,633.72 ***-**2288 Subtotal:$6,003.79 $8,637.51 $0.00 $0.00 $0.00 $0.00 $2,633.72 ***-**4919 123004 Hyland Jr, Richard J. 0 $5,165.13 $6,776.66 $0.00 $0.00 $0.00 $0.00 $1,611.53 ***-**4919 Subtotal:$5,165.13 $6,776.66 $0.00 $0.00 $0.00 $0.00 $1,611.53 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-7 30 of 86 ***-**1595 124196 Jamil, Paul M. 0 $6,061.22 $8,114.14 $775.11 $49.02 $0.00 $0.00 $1,228.79 ***-**1595 Subtotal:$6,061.22 $8,114.14 $775.11 $49.02 $0.00 $0.00 $1,228.79 ***-**8755 100916 Kenney, Kerry B. 0 $7,084.01 $7,632.44 $0.00 $0.00 $0.00 $0.00 $548.43 ***-**8755 Subtotal:$7,084.01 $7,632.44 $0.00 $0.00 $0.00 $0.00 $548.43 ***-**6583 100920 Kristiansen, Scott A. 0 $6,338.30 $9,139.63 $1,317.74 $0.00 $0.00 $0.00 $1,483.59 ***-**6583 Subtotal:$6,338.30 $9,139.63 $1,317.74 $0.00 $0.00 $0.00 $1,483.59 ***-**4871 118838 Kupsak, Staci M. 0 $2,449.22 $5,854.72 $2,767.18 $137.42 $0.00 $0.00 $500.90 ***-**4871 Subtotal:$2,449.22 $5,854.72 $2,767.18 $137.42 $0.00 $0.00 $500.90 ***-**6427 100936 Lampert, Nelson N. 0 $4,503.46 $5,046.20 $0.00 $0.00 $0.00 $0.00 $542.74 ***-**6427 Subtotal:$4,503.46 $5,046.20 $0.00 $0.00 $0.00 $0.00 $542.74 ***-**6438 100925 Leake Jr, Robert E.$8,045.80 $8,835.83 $0.00 $0.00 $0.00 $0.00 $790.03 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-8 31 of 86 0 ***-**6438 Subtotal:$8,045.80 $8,835.83 $0.00 $0.00 $0.00 $0.00 $790.03 ***-**3174 120079 Martin, Michael A. 0 $4,699.30 $5,062.08 $0.00 $0.00 $0.00 $0.00 $362.78 ***-**3174 Subtotal:$4,699.30 $5,062.08 $0.00 $0.00 $0.00 $0.00 $362.78 ***-**2925 100935 McCann, Leo C. 0 $8,000.05 $9,099.02 $0.00 $73.97 $0.00 $0.00 $1,025.00 ***-**2925 Subtotal:$8,000.05 $9,099.02 $0.00 $73.97 $0.00 $0.00 $1,025.00 ***-**8222 100930 McGinn, Timothy J. 0 $2,705.17 $6,439.46 $0.00 $43.95 $0.00 $0.00 $890.34 100930 Payment to PNC Bank, McGinn - 0 $1,200.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 100930 Payment to PNC Bank, McGinn - 0 $1,600.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**8222 Subtotal:$5,505.17 $6,439.46 $0.00 $43.95 $0.00 $0.00 $890.34 ***-**1320 100907 Millett, Michael J. 0 $6,778.24 $8,959.53 $329.43 $24.51 $0.00 $0.00 $927.35 100907 Payment to Metro Federal Credit Union, Millett - $900.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-9 32 of 86 0 ***-**1320 Subtotal:$7,678.24 $8,959.53 $329.43 $24.51 $0.00 $0.00 $927.35 ***-**2798 101806 Montgomery, Bruce M. 0 $5,138.50 $5,512.31 $0.00 $0.00 $0.00 $0.00 $373.81 ***-**2798 Subtotal:$5,138.50 $5,512.31 $0.00 $0.00 $0.00 $0.00 $373.81 ***-**8710 125229 Montiel, Amador A. 0 $1,462.88 $7,683.20 $0.00 $0.00 $0.00 $0.00 $1,220.32 125229 Payment to BMO Harris, Montiel - 0 $4,500.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 125229 Payment to Metro Federal Credit Union, Montiel - 0 $500.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**8710 Subtotal:$6,462.88 $7,683.20 $0.00 $0.00 $0.00 $0.00 $1,220.32 ***-**3419 121754 Moran, Anthony M. 0 $4,939.19 $6,633.32 $775.11 $49.02 $0.00 $0.00 $870.00 ***-**3419 Subtotal:$4,939.19 $6,633.32 $775.11 $49.02 $0.00 $0.00 $870.00 ***-**1141 111700 Nelson, James A. 0 $6,240.62 $7,330.05 $0.00 $0.00 $0.00 $0.00 $1,089.43 ***-**1141 Subtotal:$6,240.62 $7,330.05 $0.00 $0.00 $0.00 $0.00 $1,089.43 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-10 33 of 86 ***-**1445 116724 Newton, James E. 0 $7,883.79 $10,559.16 $1,565.75 $82.09 $0.00 $0.00 $1,027.53 ***-**1445 Subtotal:$7,883.79 $10,559.16 $1,565.75 $82.09 $0.00 $0.00 $1,027.53 ***-**7635 110853 Pakaski, Robert 0 $4,987.70 $7,675.66 $0.00 $0.00 $0.00 $1,958.13 $729.83 ***-**7635 Subtotal:$4,987.70 $7,675.66 $0.00 $0.00 $0.00 $1,958.13 $729.83 ***-**6635 100903 Parets, Stuart B. 0 $4,979.11 $5,336.61 $0.00 $0.00 $0.00 $0.00 $357.50 ***-**6635 Subtotal:$4,979.11 $5,336.61 $0.00 $0.00 $0.00 $0.00 $357.50 ***-**3602 100911 Parkinson, Steven P. 0 $6,940.33 $8,225.67 $0.00 $0.00 $0.00 $0.00 $1,285.34 ***-**3602 Subtotal:$6,940.33 $8,225.67 $0.00 $0.00 $0.00 $0.00 $1,285.34 ***-**1897 113712 Paul, Cliffton A. 0 $5,831.46 $6,153.17 $0.00 $0.00 $0.00 $0.00 $321.71 ***-**1897 Subtotal:$5,831.46 $6,153.17 $0.00 $0.00 $0.00 $0.00 $321.71 ***-**1242 118284 Positano, Vincent J.$5,561.98 $7,422.73 $0.00 $0.00 $0.00 $0.00 $1,860.75 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-11 34 of 86 0 ***-**1242 Subtotal:$5,561.98 $7,422.73 $0.00 $0.00 $0.00 $0.00 $1,860.75 ***-**3926 100940 Poziwilko, Thomas A. 0 $6,393.77 $6,625.21 $0.00 $73.97 $0.00 $0.00 $157.47 ***-**3926 Subtotal:$6,393.77 $6,625.21 $0.00 $73.97 $0.00 $0.00 $157.47 ***-**6977 117985 Reed, Thomas G. 0 $9,362.93 $10,559.16 $0.00 $0.00 $0.00 $0.00 $1,196.23 ***-**6977 Subtotal:$9,362.93 $10,559.16 $0.00 $0.00 $0.00 $0.00 $1,196.23 ***-**0872 113781 Schulz, Dean R. 0 $6,717.85 $8,833.15 $0.00 $0.00 $0.00 $0.00 $1,415.30 113781 Payment to Metro Federal Credit Union, Schulz - 0 $700.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**0872 Subtotal:$7,417.85 $8,833.15 $0.00 $0.00 $0.00 $0.00 $1,415.30 ***-**6831 126317 Schwall, Gregory R. 0 $4,032.60 $7,629.14 $824.13 $0.00 $0.00 $2,083.93 $688.48 ***-**6831 Subtotal:$4,032.60 $7,629.14 $824.13 $0.00 $0.00 $2,083.93 $688.48 ***-**2061 116741 Sepot, John F.$5,961.95 $7,643.87 $599.83 $82.09 $0.00 $0.00 $1,000.00 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-12 35 of 86 0 ***-**2061 Subtotal:$5,961.95 $7,643.87 $599.83 $82.09 $0.00 $0.00 $1,000.00 ***-**3678 100924 Shreeves, Mark L. 0 $5,752.24 $6,295.08 $0.00 $0.00 $0.00 $0.00 $542.84 ***-**3678 Subtotal:$5,752.24 $6,295.08 $0.00 $0.00 $0.00 $0.00 $542.84 ***-**6618 118357 Smith, Randall A. 0 $5,450.46 $6,589.54 $0.00 $0.00 $0.00 $0.00 $1,139.08 ***-**6618 Subtotal:$5,450.46 $6,589.54 $0.00 $0.00 $0.00 $0.00 $1,139.08 ***-**6661 100919 Soucy, Michael S. 0 $7,343.23 $10,157.46 $1,317.74 $82.09 $0.00 $0.00 $1,414.40 ***-**6661 Subtotal:$7,343.23 $10,157.46 $1,317.74 $82.09 $0.00 $0.00 $1,414.40 ***-**1657 101767 Stopper, Jerome P. 0 $6,066.14 $6,614.64 $0.00 $0.00 $0.00 $0.00 $548.50 ***-**1657 Subtotal:$6,066.14 $6,614.64 $0.00 $0.00 $0.00 $0.00 $548.50 ***-**9855 124287 Szos, Michael R. 0 $7,659.96 $10,367.47 $0.00 $0.00 $0.00 $0.00 $2,707.51 ***-**9855 Subtotal:$7,659.96 $10,367.47 $0.00 $0.00 $0.00 $0.00 $2,707.51 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-13 36 of 86 ***-**3654 100926 Tomaso, James D. 0 $5,540.29 $6,040.29 $0.00 $0.00 $0.00 $0.00 $500.00 ***-**3654 Subtotal:$5,540.29 $6,040.29 $0.00 $0.00 $0.00 $0.00 $500.00 ***-**5283 100938 Urry, William H. 0 $4,398.68 $5,498.68 $0.00 $0.00 $0.00 $0.00 $1,100.00 ***-**5283 Subtotal:$4,398.68 $5,498.68 $0.00 $0.00 $0.00 $0.00 $1,100.00 ***-**1231 100915 Vingan III, George 0 $5,811.36 $6,652.84 $0.00 $0.00 $0.00 $0.00 $841.48 ***-**1231 Subtotal:$5,811.36 $6,652.84 $0.00 $0.00 $0.00 $0.00 $841.48 ***-**9905 100921 Voigt, Arthur J. 0 $9,108.19 $11,068.64 $0.00 $43.95 $0.00 $0.00 $1,916.50 ***-**9905 Subtotal:$9,108.19 $11,068.64 $0.00 $43.95 $0.00 $0.00 $1,916.50 ***-**8420 100923 Wagner, Edward G. 0 $9,983.03 $12,053.03 $0.00 $0.00 $0.00 $0.00 $2,070.00 ***-**8420 Subtotal:$9,983.03 $12,053.03 $0.00 $0.00 $0.00 $0.00 $2,070.00 ***-**9324 100932 Weidner, Charles E.$6,202.72 $6,826.35 $0.00 $0.00 $0.00 $0.00 $623.63 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-14 37 of 86 0 ***-**9324 Subtotal:$6,202.72 $6,826.35 $0.00 $0.00 $0.00 $0.00 $623.63 ***-**5019 100906 Wenckebach, Gary 0 $4,845.15 $5,849.87 $0.00 $0.00 $0.00 $0.00 $1,004.72 ***-**5019 Subtotal:$4,845.15 $5,849.87 $0.00 $0.00 $0.00 $0.00 $1,004.72 ***-**5453 101836 Yester, James R. 0 $5,800.98 $6,692.98 $0.00 $0.00 $0.00 $0.00 $892.00 ***-**5453 Subtotal:$5,800.98 $6,692.98 $0.00 $0.00 $0.00 $0.00 $892.00 Service Subtotal:$412,245.26 $507,123.62 $15,322.36 $1,242.45 $0.00 $9,642.11 $68,671.44 Surviving Spouse ***-**7313 101575 Gozdecki, Lynn A. 0 $3,878.94 $5,852.06 $658.85 $49.02 $0.00 $0.00 $1,165.25 101575 Payment to Metro Federal Credit Union, Gozdecki - 0 $100.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**7313 Subtotal:$3,978.94 $5,852.06 $658.85 $49.02 $0.00 $0.00 $1,165.25 ***-**4729 100909 Heer, Catherine T. 0 $4,446.56 $6,010.67 $0.00 $0.00 $0.00 $0.00 $804.11 100909 Payment to Metro Fed CU, Heer - $760.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-15 38 of 86 0 ***-**4729 Subtotal:$5,206.56 $6,010.67 $0.00 $0.00 $0.00 $0.00 $804.11 ***-**4888 100927 Quid, Carol M. 0 $6,649.30 $7,315.44 $0.00 $43.95 $0.00 $0.00 $622.19 ***-**4888 Subtotal:$6,649.30 $7,315.44 $0.00 $43.95 $0.00 $0.00 $622.19 ***-**6196 100928 Senese, Jennifer L. 0 $3,912.36 $3,912.36 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**6196 Subtotal:$3,912.36 $3,912.36 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**6661 100918 Soucy, Michael S. 0 $1,911.89 $2,359.10 $0.00 $0.00 $0.00 $0.00 $447.21 ***-**6661 Subtotal:$1,911.89 $2,359.10 $0.00 $0.00 $0.00 $0.00 $447.21 ***-**3627 100905 Szos, Susan C. 0 $5,012.10 $5,922.69 $0.00 $0.00 $0.00 $0.00 $910.59 ***-**3627 Subtotal:$5,012.10 $5,922.69 $0.00 $0.00 $0.00 $0.00 $910.59 Surviving Spouse Subtotal:$26,671.15 $31,372.32 $658.85 $92.97 $0.00 $0.00 $3,949.35 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro See Accountants' Compilation Report 11-16 39 of 86 Batches 72829 Buffalo Grove Police Pension Fund SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Multiple Batch Report Check Date 11/29/2024 Retro Totals ACH Flag Payments Net Payment Total Gross Health Insurance Dental Insurance AFLAC Insurance QILDRO Deduct Federal Tax Yes No 91 1 92 $448,265.38 $2,994.03 $451,259.41 $548,423.06 $3,263.29 $551,686.35 $15,981.21 $0.00 $15,981.21 $1,335.42 $0.00 $1,335.42 $0.00 $0.00 $0.00 $9,642.11 $0.00 $9,642.11 $73,198.94 $269.26 $73,468.20 See Accountants' Compilation Report 11-17 40 of 86 Check Invoice Check Date Number Vendor Name Amount Amount 09/30/24 30535 Village of Buffalo Grove - Insurance 20-220-00 Medical Insurance - 09/24 15,981.21 20-220-00 Dental Insurance 1,335.42 ACH Amount (Direct Deposit)17,316.63 09/30/24 30536 Internal Revenue Service 20-230-00 Internal Revenue Service 72,968.20 ACH Amount (Direct Deposit)72,968.20 10/31/24 30540 Village of Buffalo Grove - Insurance 20-220-00 Medical Insurance - 10-24 15,981.21 20-220-00 Dental Insurance 1,335.42 ACH Amount (Direct Deposit)17,316.63 10/31/24 30541 Internal Revenue Service 20-230-00 Internal Revenue Service 73,468.20 ACH Amount (Direct Deposit)73,468.20 11/29/24 30546 Village of Buffalo Grove - Insurance 20-220-00 Medical Insurance - 11/24 15,981.21 20-220-00 Dental Insurance 1,335.42 ACH Amount (Direct Deposit)17,316.63 11/29/24 30547 Internal Revenue Service 20-230-00 Internal Revenue Service 73,468.20 ACH Amount (Direct Deposit)73,468.20 Total Payments 271,854.49 Buffalo Grove Police Pension Fund Quarterly Deduction Report All Bank Accounts September 1, 2024 - November 30, 2024 See Accountants' Compilation Report 12-1 41 of 86 Check Invoice Check Date Number Vendor Name Amount Amount 09/19/24 30534 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 1,144,200.00 ACH Amount (Direct Deposit)1,144,200.00 09/26/24 30537 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 29,000.00 ACH Amount (Direct Deposit)29,000.00 10/21/24 30542 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 191,300.00 ACH Amount (Direct Deposit)191,300.00 11/27/24 30548 State Street Bank And Trust Company 13-800-01 Buffalo Grove Police Pension Fund 30,200.00 ACH Amount (Direct Deposit)30,200.00 Total Payments 1,394,700.00 Buffalo Grove Police Pension Fund Quarterly Transfer Report All Bank Accounts September 1, 2024 - November 30, 2024 See Accountants' Compilation Report 13-1 42 of 86 Check Invoice Check Date Number Vendor Name Amount Amount 09/09/24 30533 Lauterbach & Amen, LLP 52-170-03 #94782 08/24 Accounting & Benefits 1,385.00 52-170-06 #94782 08/24 PSA 1,510.00 ACH Amount (Direct Deposit)2,895.00 09/30/24 50347 IPOPIF 52-195-03 Investment Expense 822.90 52-195-02 Administrative Expense 961.01 Check Amount 1,783.91 10/07/24 30538 Lauterbach & Amen, LLP 52-170-03 #95862 09/24 Accounting & Benefits 1,385.00 52-170-06 #95862 09/24 PSA 1,510.00 ACH Amount (Direct Deposit)2,895.00 10/07/24 50348 Wall Capital Group, Inc 52-190-01 Investment Manager/Advisor Fee 500.00 Check Amount 500.00 10/17/24 30539 IPPFA 52-290-26 Association Dues 2025 - #78-2091 825.00 ACH Amount (Direct Deposit)825.00 10/30/24 30543 Campton Hills Police Pension Fund 51-100-00 Julie Ramirez- Employee Contributions 71,949.12 51-110-00 Julie Ramirez- Contribution Interest Earned 129,323.50 51-110-00 Julie Ramirez- Pension Match 201,272.62 Check Amount 402,545.24 10/31/24 50349 IPOPIF 52-195-02 Administrative Expense 1,231.91 52-195-03 Investment Expense 1,143.89 Check Amount 2,375.80 11/12/24 30544 Lauterbach & Amen, LLP 52-170-03 #97017 FYE23 MCR 600.00 ACH Amount (Direct Deposit)600.00 11/18/24 30545 Lauterbach & Amen, LLP 52-170-03 #97291 10/24 Accounting & Benefits 1,385.00 52-170-06 #97291 10/24 PSA 1,510.00 ACH Amount (Direct Deposit)2,895.00 Buffalo Grove Police Pension Fund Quarterly Disbursement Report All Bank Accounts September 1, 2024 - November 30, 2024 See Accountants' Compilation Report 14-1 43 of 86 Check Invoice Check Date Number Vendor Name Amount Amount 11/30/24 50350 IPOPIF 52-195-02 Administrative Expense 1,401.55 52-195-03 Investment Expense 1,564.11 52-195-04 Investment Manager Fees 7,968.02 Check Amount 10,933.68 Total Payments 428,248.63 Buffalo Grove Police Pension Fund Quarterly Disbursement Report All Bank Accounts September 1, 2024 - November 30, 2024 See Accountants' Compilation Report 14-2 44 of 86 45 of 86 46 of 86 Total Fund Data Sources and Methodology Page Illinois Police Officers' Pension Investment Fund Period Ending: November 30, 2024 Performance Return Calculations Data Source Manager Line Up Manager Inception Date Data Source Manager Inception Date Data Source RhumbLine Russell 1000 Index Fund 3/15/2022 State Street SSgA EMD Hard Index Fund 3/14/2022 State Street RhumbLine Russell 2000 Index Fund 3/15/2022 State Street Capital Group Emerging Markets Debt Fund 10/21/2024 State Street SSgA Non-US Developed Index Fund 3/10/2022 State Street Ares Institutional Loan Fund 3/1/2024 Ares SSgA Non-US Developed SC Index Fund 3/10/2022 State Street Aristotle Institutional Loan Fund 3/1/2024 Aristotle Acadian ACWI ex US Small-Cap Fund 1/30/2024 State Street Principal USPA 4/6/2022 State Street WCM International Small Cap Growth Fund 3/1/2024 WCM SSgA REITs Index Fund 3/10/2022 State Street LSV International Small Cap Value Equity Fund 3/1/2024 LSV SSgA US Treasury Index Fund 5/1/2024 State Street SSgA Emerging Markets Equity Index Fund 3/1/2022 State Street SSgA Core Fixed Income Index Fund 3/17/2022 State Street SS g A Emer g in g Markets ex China E q uit y Index Fu n 5/1/2024 State Street SSgA Short-Term Gov't/Credit Index Fund 3/17/2022 State Street ARGA Emerging Markets Ex China Equity 12/1/2024 SSgA US TIPS Index Fund 3/17/2022 State Street SSgA High Yield Corporate Credit 3/18/2022 State Street Cash 3/22/2022 State Street Custom Benchmark Composition Benchmark Time p eriod Com p osition Polic y Index -Broad Benchmark 4/1/2022 - Present 70% MSCI ACWI IMI (Net ) and 30% Bloomber g Global Multiverse. S p liced SS g A EMD Hard Benchmark 7/1/2023 - Present 100% JPM EMBI Global Diversified Index S p liced SS g A EMD Hard Benchmark 3/14/2022 - 6/30/2022 100% JPM EMBI Global Core Index S p liced SS g A U.S. Hi g h Yield Index 12/1/2022 - Present 100% ICE BofA US Hi g h y ield Master II Constrained Spliced SSgA U.S. High Yield Index 4/1/2022 - 11/30/2022 100% Bloomberg U.S. High Yield Very Liquid Index Performance is calculated using Time Weighted Rates of Return (TWRR) methodologies. Monthly returns are geometrically linked and annualized for periods longer than one year. Verus is an independent third party consulting firm and calculates returns from best source book of record data. Returns calculated by Verus may deviate from those shown by the manager in part, but not limited to, differences in prices and market values reported by the custodian and manager, as well as significant cash flows into or out of an account. It is the responsibility of the manager and custodian to provide insight into the p ricin g methodolo g ies and an y difference in valuation. 47 of 86 Total Fund Data Sources and Methodology Page Illinois Police Officers' Pension Investment Fund Period Ending: November 30, 2024 Polic y Index Com p osition As of 11/1/2024 Policy Index Growth Income Real Assets Risk Mitigation As of 10/1/2024 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 23.0% 39.7%Russell 1000 23% 39.7% Russell 2000 5.0%8.6%Russell 2000 5% 8.6% MSCI World ex U.S.19.0% 32.8%MSCI World ex U.S.19% 32.8% MSCI World ex U.S. Small Cap 5.0%8.6%MSCI World ex U.S. Small Cap 5% 8.6% MSCI Emer g in g Market s 0.7%1.2%MSCI Emer g in g Market s 0.8% 1.4% MSCI Emer g in g Markets ex Chin a 5.3%9.2%MSCI Emer g in g Markets ex Chin a 5.2% 9.0% Bloomber g US Corporate Hi g h Yield Inde x 7.0%43.8%Bloomber g US Corporate Hi g h Yield Inde x 7%43.8% JPM EMBI Global Diversified Inde x 6.0%37.5%JPM EMBI Global Diversified Inde x 6%37.5% Credit Suisse Levera g ed Loan Index 3.0%18.8%Credit Suisse Levera g ed Loan Index 3%18.8% NFI-ODCE Equal-Wei g hted Index 2.0%33.3%NFI-ODCE Equal-Wei g hted Index 2%33.3% Dow Jones US Select REIT Inde x 4.0%66.7%Dow Jones US Select REIT Inde x 4%66.7% Bloomber g US A gg re g ate Index 3.0%15.0% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US Treasur y Inde x 2.0%10.0% Bloomber g US Treasur y Inde x 2%10.0% Bloomber g 1-3 Year Gov/Credit Inde x 11.0%55.0% Bloomber g 1-3 Year Gov/Credit Inde x 11%55.0% Bloomber g US TIPS 0-5 Yea r 3.0%15.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% 90 Da y US Treasur y Bill Inde x 1.0%5.0% 90 Da y US Treasur y Bill Inde x 1%5.0% As of 9/1/2024 Policy Index Growth Income Real Assets Risk Mitigation As of 8/1/2024 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 23%39.7%Russell 1000 23% 39.7% Russell 2000 5%8.6%Russell 2000 5% 8.6% MSCI World ex U.S.19%32.8%MSCI World ex U.S.19% 32.8% MSCI World ex U.S. Small Cap 5%8.6%MSCI World ex U.S. Small Cap 5% 8.6% MSCI Emer g in g Market s 1.5%2.6%MSCI Emer g in g Market s 2% 3.4% MSCI Emer g in g Markets ex Chin a 4.5%7.8%MSCI Emer g in g Markets ex Chin a 4% 6.9% Bloomber g US Corporate Hi g h Yield Inde x 7%43.8%Bloomber g US Corporate Hi g h Yield Inde x 7%43.8% JPM EMBI Global Diversified Inde x 6%37.5%JPM EMBI Global Diversified Inde x 6%37.5% Credit Suisse Levera g ed Loan Index 3%18.8%Credit Suisse Levera g ed Loan Index 3%18.8% NFI-ODCE Equal-Wei g hted Index 2%33.3%NFI-ODCE Equal-Wei g hted Index 2%33.3% Dow Jones US Select REIT Inde x 4%66.7%Dow Jones US Select REIT Inde x 4%66.7% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US Treasur y Inde x 2%10.0% Bloomber g US Treasur y Inde x 2%10.0% Bloomber g 1-3 Year Gov/Credit Inde x 11%55.0% Bloomber g 1-3 Year Gov/Credit Inde x 11%55.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% 90 Da y US Treasur y Bill Inde x 1%5.0% 90 Da y US Treasur y Bill Inde x 1%5.0% As of 7/1/2024 Policy Index Growth Income Real Assets Risk Mitigation As of 6/1/2024 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 23%39.7%Russell 1000 23% 39.7% Russell 2000 5%8.6%Russell 2000 5% 8.6% MSCI World ex U.S.19%32.8%MSCI World ex U.S.19% 32.8% MSCI World ex U.S. Small Cap 5%8.6%MSCI World ex U.S. Small Cap 5% 8.6% MSCI Emer g in g Market s 3%5.2%MSCI Emer g in g Market s 4% 6.9% MSCI Emer g in g Markets ex Chin a 3%5.2%MSCI Emer g in g Markets ex Chin a 2% 3.4% Bloomber g US Corporate Hi g h Yield Inde x 7%43.8%Bloomber g US Corporate Hi g h Yield Inde x 7%43.8% JPM EMBI Global Diversified Inde x 6%37.5%JPM EMBI Global Diversified Inde x 6%37.5% Credit Suisse Levera g ed Loan Index 3%18.8%Credit Suisse Levera g ed Loan Index 3%18.8% NFI-ODCE Equal-Wei g hted Index 2%33.3%NFI-ODCE Equal-Wei g hted Index 2%33.3% Dow Jones US Select REIT Inde x 4%66.7%Dow Jones US Select REIT Inde x 4%66.7% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US Treasur y Inde x 1%5.0% Bloomber g US Treasur y Inde x 2%10.0% Bloomber g 1-3 Year Gov/Credit Inde x 12%60.0% Bloomber g 1-3 Year Gov/Credit Inde x 11%55.0% Bloomberg US TIPS 0-5 Year 3% 15.0% Bloomberg US TIPS 0-5 Year 3% 15.0% 90 Da y US Treasur y Bill Inde x 1%5.0% 90 Da y US Treasur y Bill Inde x 1%5.0% 48 of 86 Total Fund Data Sources and Methodology Page Illinois Police Officers' Pension Investment Fund Period Ending: November 30, 2024 Polic y Index Com p osition As of 5/1/2024 Policy Index Growth Income Real Assets Risk Mitigation As of 4/1/2024 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 23%39.7%Russell 1000 23% 39.7% Russell 2000 5%8.6%Russell 2000 5% 8.6% MSCI World ex U.S.19%32.8%MSCI World ex U.S.19% 32.8% MSCI World ex U.S. Small Cap 5%8.6%MSCI World ex U.S. Small Cap 5% 8.6% MSCI Emer g in g Market s 5%8.6%MSCI Emer g in g Market s 6% 10.3% MSCI Emer g in g Markets ex Chin a 1%1.7%Bloomber g US Corporate Hi g h Yield Inde x 7%43.8% Bloomber g US Corporate Hi g h Yield Inde x 7%43.8%JPM EMBI Global Diversified Inde x 6%37.5% JPM EMBI Global Diversified Inde x 6%37.5%Credit Suisse Levera g ed Loan Index 3%18.8% Credit Suisse Levera g ed Loan Index 3%18.8%NFI-ODCE Equal-Wei g hted Index 2%33.3% NFI-ODCE Equal-Wei g hted Index 2%33.3%Dow Jones US Select REIT Inde x 4%66.7% Dow Jones US Select REIT Inde x 4%66.7%Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g 1-3 Year Gov/Credit Inde x 13%65.0% Bloomber g US Treasur y Inde x 1%5.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% Bloomber g 1-3 Year Gov/Credit Inde x 12%60.0% 90 Da y US Treasur y Bill Inde x 1%5.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% 90 Da y US Treasur y Bill Inde x 1%5.0% As of 3/1/2024 Policy Index Growth Income Real Assets Risk Mitigation As of 5/1/2023 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 23%39.7%Russell 1000 23% 39.7% Russell 2000 5%8.6%Russell 2000 5% 8.6% MSCI World ex U.S.18%31.0%MSCI World ex U.S.18% 31.0% MSCI World ex U.S. Small Cap 5%8.6%MSCI World ex U.S. Small Cap 5% 8.6% MSCI Emer g in g Market s 7%12.1%MSCI Emer g in g Market s 7% 12.1% Bloomber g US Corporate Hi g h Yield Inde x 8.5%53.1%Bloomber g US Corporate Hi g h Yield Inde x 10%62.5% JPM EMBI Global Diversified Inde x 6%37.5%JPM EMBI Global Diversified Inde x 6%37.5% Credit Suisse Levera g ed Loan Index 1.5%9.4%NFI-ODCE Equal-Wei g hted Index 2%33.3% NFI-ODCE Equal-Wei g hted Index 2%33.3%Dow Jones US Select REIT Inde x 4%66.7% Dow Jones US Select REIT Inde x 4%66.7%Bloomber g US A gg re g ate Index 3%15.0% Bloomber g US A gg re g ate Index 3%15.0% Bloomber g 1-3 Year Gov/Credit Inde x 13%65.0% Bloomber g 1-3 Year Gov/Credit Inde x 13%65.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% Bloomber g US TIPS 0-5 Yea r 3%15.0% 90 Da y US Treasur y Bill Inde x 1%5.0% 90 Da y US Treasur y Bill Inde x 1%5.0% As of 1/1/2023 Policy Index Growth Income Real Assets Risk Mitigation As of 3/31/2022 Policy Index Growth Income Real Assets Risk Mitigation Russell 1000 18%36.0%Russell 3000 23% 46.0% Russell 2000 5%10.0%MSCI ACWI ex USA IM I 20% 40.0% MSCI World ex U.S. 15% 30.0% MSCI Emer g in g Markets IM I 7% 14.0% MSCI World ex U.S. Small Cap 5% 10.0% Bloomber g US Corporate Hi g h Yield Inde x 10%62.5% MSCI Emer g in g Market s 7%14.0%50% JPM EMBI GD/50% JPM GBI EM G D 6%37.5% Bloomber g US Corporate Hi g h Yield Inde x 10%62.5%NCREIF Propert y Inde x 2%66.7% JPM EMBI Global Diversified Inde x 6%37.5%Dow Jones US Select REIT Inde x 4%33.3% NFI-ODCE Equal-Wei g hted Index 2%33.3%Bloomber g US A gg re g ate Index 7%25.0% Dow Jones US Select REIT Inde x 4%66.7%Bloomber g 1-3 Year Gov/Credit Inde x 15%53.6% Bloomber g US A gg re g ate Index 7%25.0% Bloomber g US TIPS 0-5 Yea r 3%10.7% Bloomber g 1-3 Year Gov/Credit Inde x 15%53.6% 90 Da y US Treasur y Bill Inde x 3%10.7% Bloomber g US TIPS 0-5 Yea r 3%10.7% 90 Da y US Treasur y Bill Inde x 3%10.7% 49 of 86 BUFFALO GROVE POLICE PENSION FUND Month Ended: November 30, 2024 $102,701,201.58 $102,701,201.58 Market Value Summary: ($6,150,000.00) $4,311,805.14 $93,568,520.24 ($575,000.00) $30,200.00 $100,943,583.43 Year to DateCurrent Period Ending Balance Withdrawals Contributions Beginning Balance Unrealized Gain/Loss $2,257,265.99 N/AN/A17.08%11.91%2.29% Five YearsThree YearsOne YearYTDMTD Performance Summary: 8.28% Inception to Date 0.20% QTD Contact Information: Illinois Police Officers’ Pension Investment Fund, 456 Fulton Street, Suite 402 Peoria, Illinois 61602 Phone: (309) 280-6464 Email: Info@ipopif.org $7,815,823.36 Net of Fees: Participant Inception Date 05/02/2022N/A Ten Years $511,156.18$56,005.54Income Realized Gain/Loss $80.30 $2,695,988.78 $0.00$0.00Transfers In/Out Investment Expense ($1,564.11)($14,487.35) Administrative Expense ($1,401.55)($15,197.30) Investment Manager Fees ($7,968.02)($22,407.47) IFA Loan Repayment $0.00 $0.00 Adjustment $0.00 $0.00 Returns for periods greater than one year are annualized Page 1 of 3 50 of 86 BUFFALO GROVE POLICE PENSION FUND Month Ended: November 30, 2024 IPOPIF Pool 8,522,996.173 $102,701,201.58 $102,701,201.58 $12.049894$12.049894Period Ending Net Asset Value per Unit $10.767643$11.779940Period Beginning Net Asset Value per Unit (542,222.144) 375,431.280 8,689,787.036 (48,627.586) 2,515.071 8,569,108.687 Year to DateCurrent Period Unit Sales from Withdrawals Unit Purchases from Additions Unit Value Summary:Market Value Summary: ($6,150,000.00) $4,311,805.14 $93,568,520.24 ($575,000.00) $30,200.00 $100,943,583.43 Year to DateCurrent Period Ending Balance Withdrawals Contributions Beginning Balance Unrealized Gain/Loss $2,257,265.99 N/AN/A17.08%11.91%2.29% Five YearsThree YearsOne YearYTDMTD Performance Summary: 9.33% Inception to Date 0.20% QTD BUFFALO GROVE POLICE PENSION FUND Contact Information: Illinois Police Officers’ Pension Investment Fund, 456 Fulton Street, Suite 402 Peoria, Illinois 61602 Phone: (309) 280-6464 Email: Info@ipopif.org $7,815,823.36 8,522,996.173Ending Units Beginning Units Net of Fees: Participant Inception Date 05/18/2022N/A Ten Years $511,156.18$56,005.54Income Realized Gain/Loss $80.30 $2,695,988.78 Fund Name: $0.00$0.00Transfers In/Out Investment Expense ($1,564.11)($14,487.35) Administrative Expense ($1,401.55)($15,197.30) Investment Manager Fees ($7,968.02)($22,407.47) IFA Loan Repayment $0.00 $0.00 Adjustment $0.00 $0.00 Returns for periods greater than one year are annualized Page 2 of 3 51 of 86 Statement of Transaction Detail for the Month Ending 11/30/2024 BUFFALO GROVE POLICE PENSION FUND Trade Date Description Amount Unit Value UnitsSettle Date IPOPIF Pool 11/15/2024 (25,000.00)Redemptions 11.824564 (2,114.2429)11/18/2024 11/15/2024 (550,000.00)Redemptions 11.824564 (46,513.3429)11/18/2024 11/27/2024 30,200.00Contribution 12.007612 2,515.071311/29/2024 Page 3 of 3 52 of 86 Illinois Police Officers’ Pension Investment Fund 309-280-6464 456 Fulton Street, Suite 402 info@ipopif.org Peoria, Illinois 61602 November 2024 Statement Supplement Asset Flows Period New Asset Transfers Cash Contributions Cash Withdrawals November 2024 Zero $23 million $48 million CY 2024 $1.574 billion $629 million $515 million Expenses Paid Period Administrative Expenses Investment Expenses Direct Investment Manager Fees 11/1/25 $175,670.39 $196,045.50 $998,712.48 CY 2024 $1,666,462.86 $1,592,183.76 $2,562,525.47 • Expenses are paid from the IPOPIF Pool and allocated proportionately by member value. • Investment expenses exclude investment manager fees. • Direct Investment Manager Fee includes those fees invoiced and paid by IPOPIF. Other investment manager fees are tracked separately and reported to the Board Periodically. Investment Pool Details Date Units Value Unit Price 10/31/24 1,074,052,844.7297 12,652,277,720.05 11.779940 11/30/24 1,071,898,314.4376 12,916,261,211.07 12.049894 A spreadsheet with complete unit and expense detail history is linked on the Article 3 Fund Reports page NAV and Receivable Calculations Under Development The IPOPIF AR 2022-01 Valuation and Cost Rule.pdf, stipulates that subsequent to transfer of investment assets from all Article 3 Funds, the Net Asset Value (NAV) for each Participating Police Pension Fund will include a final true-up allocation of all costs paid using funds from the total consolidated IPOPIF investment portfolio for the period January 1, 2023, through December 31, 2024, and all loan payments made to the Illinois Finance Authority subsequent to January 1, 2023. These adjustments are expected to be completed in the first quarter of 2025. Resources • Monthly statement overview: Link to Statement Overview • Monthly financial reports: https://www.ipopif.org/reports/monthly-financial-reports/ • Monthly and quarterly investment reports: https://www.ipopif.org/reports/investment- reports/ • IPOPIF Board Meeting Calendar: https://www.ipopif.org/meetings/calendar/ 53 of 86 BUFFALO GROVE Freeman, Janet I. POLICE PENSION FUND Pension Calculation Worksheet Retirement 20-50 REVIEWED AND APPROVED BY PENSION FUND: Trustee:Date:______________Name: ____________________ Signature: _________________________ Treasurer:Date:______________Name: ____________________ Signature: _________________________ Member Name Member Social Security Number xxx-xx- Member Birth Date Member Entry Date 04/11/94 Member Retirement Date 07/09/24 Member Effective Date of Pension 07/10/24 Member Age at Effective Date of Pension 53 Years (Y) of Creditable Service Earned Y 30 Applicable Salary $126,192.16 Applicable Pension Percentage (APP)75.00% Amount of the Original Monthly Pension Granted to Member $7,887.01 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 07/10/24 Original Benefit (prorated)5,597.23 5,597.23 08/01/24 Original Benefit (full month)2,289.78 7,887.01 94,644.12 02/01/26 Initial Increase 354.92 8,241.93 98,903.16 01/01/27 Annual 3% COLA 247.26 8,489.19 101,870.28 01/01/28 Annual 3% COLA 254.68 8,743.87 104,926.44 01/01/29 Annual 3% COLA 262.32 9,006.19 108,074.28 01/01/30 Annual 3% COLA 270.19 9,276.38 111,316.56 01/01/31 Annual 3% COLA 278.29 9,554.67 114,656.04 01/01/32 Annual 3% COLA 286.64 9,841.31 118,095.72 01/01/33 Annual 3% COLA 295.24 10,136.55 121,638.60 01/01/34 Annual 3% COLA 304.10 10,440.65 125,287.80 01/01/35 Annual 3% COLA 313.22 10,753.87 129,046.44 01/01/36 Annual 3% COLA 322.62 11,076.49 132,917.88 Personal Data Freeman, Janet I. Pension Calculation History Description printed: 12/11/202454 of 86 BUFFALO GROVE Freeman, Janet I. POLICE PENSION FUND Pension Calculation Worksheet Retirement 20-50 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 01/01/37 Annual 3% COLA 332.29 11,408.78 136,905.36 01/01/38 Annual 3% COLA 342.26 11,751.04 141,012.48 01/01/39 Annual 3% COLA 352.53 12,103.57 145,242.84 01/01/40 Annual 3% COLA 363.11 12,466.68 149,600.16 01/01/41 Annual 3% COLA 374.00 12,840.68 154,088.16 01/01/42 Annual 3% COLA 385.22 13,225.90 158,710.80 01/01/43 Annual 3% COLA 396.78 13,622.68 163,472.16 01/01/44 Annual 3% COLA 408.68 14,031.36 168,376.32 01/01/45 Annual 3% COLA 420.94 14,452.30 173,427.60 01/01/46 Annual 3% COLA 433.57 14,885.87 178,630.44 01/01/47 Annual 3% COLA 446.58 15,332.45 183,989.40 01/01/48 Annual 3% COLA 459.97 15,792.42 189,509.04 01/01/49 Annual 3% COLA 473.77 16,266.19 195,194.28 01/01/50 Annual 3% COLA 487.99 16,754.18 201,050.16 01/01/51 Annual 3% COLA 502.63 17,256.81 207,081.72 01/01/52 Annual 3% COLA 517.70 17,774.51 213,294.12 01/01/53 Annual 3% COLA 533.24 18,307.75 219,693.00 01/01/54 Annual 3% COLA 549.23 18,856.98 226,283.76 01/01/55 Annual 3% COLA 565.71 19,422.69 233,072.28 01/01/56 Annual 3% COLA 582.68 20,005.37 240,064.44 01/01/57 Annual 3% COLA 600.16 20,605.53 247,266.36 01/01/58 Annual 3% COLA 618.17 21,223.70 254,684.40 01/01/59 Annual 3% COLA 636.71 21,860.41 262,324.92 01/01/60 Annual 3% COLA 655.81 22,516.22 270,194.64 01/01/61 Annual 3% COLA 675.49 23,191.71 278,300.52 01/01/62 Annual 3% COLA 695.75 23,887.46 286,649.52 01/01/63 Annual 3% COLA 716.62 24,604.08 295,248.96 01/01/64 Annual 3% COLA 738.12 25,342.20 304,106.40 01/01/65 Annual 3% COLA 760.27 26,102.47 313,229.64 01/01/66 Annual 3% COLA 783.07 26,885.54 322,626.48 01/01/67 Annual 3% COLA 806.57 27,692.11 332,305.32 01/01/68 Annual 3% COLA 830.76 28,522.87 342,274.44 Description Pension Calculation History - Continued printed: 12/11/202455 of 86 BUFFALO GROVE Freeman, Janet I. POLICE PENSION FUND Basic Information Worksheet Retirement 20-50 Entry Date Termination/Retirement Date Creditable Service Earned Additions to Creditable Service Reductions to Creditable Service Total Creditable Service Marital Status Married Spouse's Name Spouse's Social Security Number xxx-xx- Spouse's Date of Birth Date of Marriage 7/17/2016 Reductions (Days) Petersen, Scott H. 30 Spousal Information - If Applicable Additions (Days) Creditable Service 04/11/94 07/09/24 Years 30 Printed: 12/11/202456 of 86 BUFFALO GROVE Freeman, Janet I. POLICE PENSION FUND Benefit Calculation Worksheet Retirement 20-50 Applicable Salary $126,192.16 Rank @ Last Day of Service Officer Years Total Creditable Service 30 Creditable Service Years 1 to 20 x 2.5%50.00% Creditable Service (# of Years 21 to 30) x 2.5%25.00% Total (Maximum = 75%)75.00% Original Annual Pension $94,644.12 Monthly $7,887.01 Age @ Retirement Date 53 Date of Initial Increase 02/01/26 Amount of Initial Increase (monthly)$354.92 Subsequent COLA increases are granted every January in the amount of 3% of the current benefit. Benefits granted to Survivors do NOT receive COLA Increases. The amount of the initial increase is equal to 1/12 of 3% of the original monthly benefit, times the number of full months that have elapsed since the pension began. The initial increase is granted on the latter of: The month after the member turns 55 OR The month after the member has been retired for one full year. Required Information Applicable Pension Percentage Amount of Originally Granted Pension Increases in Pension Printed: 12/11/202457 of 86 BUFFALO GROVE POLICE PENSION FUND Freeman, Janet I. Monthly Cumulative Actual Correct Balance Balance Benefit Period Benefit Benefit (Underpaid) (Underpaid) Month-Year Paid Due Overpaid Overpaid Jul-24 (10-31) 5,414.23 5,597.23 (183.00) (183.00) Aug-24 7,629.14 7,887.01 (257.87) (440.87) Sep-24 7,629.14 7,887.01 (257.87) (698.74) Oct-24 7,629.14 7,887.01 (257.87) (956.61) Nov-24 7,629.14 7,887.01 (257.87) (1,214.48) Total 35,930.79 37,145.27 (1,214.48) Amount Due To Pensioner 1,214.48 The signature below authorizes Lauterbach & Amen, LLP to remit this balance : _______ on the next scheduled paydate ____________________________________________________________________ ___________ Pension Board Member Signature Pension Board Member Name Date Page 1 of 1 58 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Pension Calculation Worksheet Retirement 20-50 REVIEWED AND APPROVED BY PENSION FUND: Trustee:Date:______________Name: ____________________ Signature: _________________________ Treasurer:Date:______________Name: ____________________ Signature: _________________________ Member Name Member Social Security Number xxx-xx- Member Birth Date Member Entry Date 09/17/84 Member Retirement Date 01/03/24 Member Effective Date of Pension 01/04/24 Member Age at Effective Date of Pension 63 Years (Y) of Creditable Service Earned Y 39 Applicable Salary $126,192.16 Applicable Pension Percentage (APP)75.00% Amount of the Original Monthly Pension Granted to Member $7,887.01 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 01/04/24 Original Benefit (prorated)7,123.75 7,123.75 02/01/24 Original Benefit (full month)763.26 7,887.01 94,644.12 02/01/25 Initial Increase 236.61 8,123.62 97,483.44 01/01/26 Annual 3% COLA 243.71 8,367.33 100,407.96 01/01/27 Annual 3% COLA 251.02 8,618.35 103,420.20 01/01/28 Annual 3% COLA 258.55 8,876.90 106,522.80 01/01/29 Annual 3% COLA 266.31 9,143.21 109,718.52 01/01/30 Annual 3% COLA 274.30 9,417.51 113,010.12 01/01/31 Annual 3% COLA 282.53 9,700.04 116,400.48 01/01/32 Annual 3% COLA 291.00 9,991.04 119,892.48 01/01/33 Annual 3% COLA 299.73 10,290.77 123,489.24 01/01/34 Annual 3% COLA 308.72 10,599.49 127,193.88 01/01/35 Annual 3% COLA 317.98 10,917.47 131,009.64 Personal Data Schwall, Gregory R. Pension Calculation History Description printed: 12/11/202459 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Pension Calculation Worksheet Retirement 20-50 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 01/01/36 Annual 3% COLA 327.52 11,244.99 134,939.88 01/01/37 Annual 3% COLA 337.35 11,582.34 138,988.08 01/01/38 Annual 3% COLA 347.47 11,929.81 143,157.72 01/01/39 Annual 3% COLA 357.89 12,287.70 147,452.40 01/01/40 Annual 3% COLA 368.63 12,656.33 151,875.96 01/01/41 Annual 3% COLA 379.69 13,036.02 156,432.24 01/01/42 Annual 3% COLA 391.08 13,427.10 161,125.20 01/01/43 Annual 3% COLA 402.81 13,829.91 165,958.92 01/01/44 Annual 3% COLA 414.90 14,244.81 170,937.72 01/01/45 Annual 3% COLA 427.34 14,672.15 176,065.80 01/01/46 Annual 3% COLA 440.16 15,112.31 181,347.72 01/01/47 Annual 3% COLA 453.37 15,565.68 186,788.16 01/01/48 Annual 3% COLA 466.97 16,032.65 192,391.80 01/01/49 Annual 3% COLA 480.98 16,513.63 198,163.56 01/01/50 Annual 3% COLA 495.41 17,009.04 204,108.48 01/01/51 Annual 3% COLA 510.27 17,519.31 210,231.72 01/01/52 Annual 3% COLA 525.58 18,044.89 216,538.68 01/01/53 Annual 3% COLA 541.35 18,586.24 223,034.88 01/01/54 Annual 3% COLA 557.59 19,143.83 229,725.96 01/01/55 Annual 3% COLA 574.31 19,718.14 236,617.68 01/01/56 Annual 3% COLA 591.54 20,309.68 243,716.16 01/01/57 Annual 3% COLA 609.29 20,918.97 251,027.64 01/01/58 Annual 3% COLA 627.57 21,546.54 258,558.48 01/01/59 Annual 3% COLA 646.40 22,192.94 266,315.28 01/01/60 Annual 3% COLA 665.79 22,858.73 274,304.76 01/01/61 Annual 3% COLA 685.76 23,544.49 282,533.88 01/01/62 Annual 3% COLA 706.33 24,250.82 291,009.84 01/01/63 Annual 3% COLA 727.52 24,978.34 299,740.08 01/01/64 Annual 3% COLA 749.35 25,727.69 308,732.28 01/01/65 Annual 3% COLA 771.83 26,499.52 317,994.24 01/01/66 Annual 3% COLA 794.99 27,294.51 327,534.12 01/01/67 Annual 3% COLA 818.84 28,113.35 337,360.20 Description Pension Calculation History - Continued printed: 12/11/202460 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Basic Information Worksheet Retirement 20-50 Entry Date Termination/Retirement Date Creditable Service Earned Additions to Creditable Service Reductions to Creditable Service Service Break: 7/14/1997-7/19/1997 Total Creditable Service Marital Status Married Spouse's Name Spouse's Social Security Number xxx-xx- Spouse's Date of Birth Date of Marriage 5/27/2021 Reductions (Days) 5 Schwall, Glenda M. 39 Spousal Information - If Applicable Additions (Days) Creditable Service 09/17/84 01/03/24 Years 39 Printed: 12/11/202461 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Benefit Calculation Worksheet Retirement 20-50 Applicable Salary $126,192.16 Rank @ Last Day of Service Officer Years Total Creditable Service 39 Creditable Service Years 1 to 20 x 2.5%50.00% Creditable Service (# of Years 21 to 30) x 2.5%25.00% Total (Maximum = 75%)75.00% Original Annual Pension $94,644.12 Monthly $7,887.01 Age @ Retirement Date 63 Date of Initial Increase 02/01/25 Amount of Initial Increase (monthly)$236.61 Subsequent COLA increases are granted every January in the amount of 3% of the current benefit. Benefits granted to Survivors do NOT receive COLA Increases. The amount of the initial increase is equal to 1/12 of 3% of the original monthly benefit, times the number of full months that have elapsed since the pension began. The initial increase is granted on the latter of: The month after the member turns 55 OR The month after the member has been retired for one full year. Required Information Applicable Pension Percentage Amount of Originally Granted Pension Increases in Pension Printed: 12/11/202462 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Pension Taxability Calculation Worksheet Retirement 20-50 Effective Date of Pension 01/04/24 Member Date of Birth Spouse's Date of Birth Member Age @ Effective Date of Pension 63 Spouse Age @ Effective Date of Pension 66 Combined Age of Pensioner and Spouse 129 After - Tax Portion of Contributions $12,986.38 Personal Data IRS Notice 98-2 "The Simplified Method" The simplified method must be used by annuitants and by pension funds to report the taxable portion of pension payments on Form 1099-R. Under the simplified method the pensioner recovers his or her investment in the pension in level amounts over the expected number of monthly payments determined from the table. The new table applies to distributions with annuity starting dates after December 31, 1997. The portion of each monthly pension payment that is excluded from gross income is a level dollar amount determined by dividing the investment in the pension by the number of annuity payments according to the table. The employee's investment in the pension is generally the total amount of after-tax contributions made to the pension plan by the employee. The dollar amount to be excluded from taxable income does not change, even when the amount of the pension payment changes. For example the amount to be excluded from each pension payment does not change with COLA increases or on account of reduced survivor annuity after the death of the pensioner. Printed: 12/11/202463 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Pension Taxability Calculation Worksheet Retirement 20-50 Age of Annuitant Expected Number of When Annuity Begins Monthly Payments 55 and Under 360 56 - 60 310 61 - 65 260 66 - 70 210 71 and Over 160 Combined Age of Pensioner and Spouse Expected Number of When Annuity Begins Monthly Payments 110 and Under 410 111 - 120 360 121 - 130 310 131 - 140 260 141 and Over 210 After - Tax Portion of Contributions $12,986.38 Expected # of Monthly Payments from the Table 310 Tax Free Portion of Monthly Pension = After - Tax Contributions / Expected # of Monthly Payments $41.89 Tax Free Portion of Annual Pension = Tax Free Portion of Monthly Pension x 12 $502.68 Partial Year = # of Months x Tax Free Portion of Monthly Pension Expected # of Payments Table - Single @ Time of Retirement Expected # of Payments Table - Married @ Time of Retirement Taxability Calculation Printed: 12/11/202464 of 86 BUFFALO GROVE Schwall, Gregory R. POLICE PENSION FUND Pension Taxability Calculation Worksheet Retirement 20-50 For year ending:Box 2a should be this much less than Box 1After-tax Contribution Balance: 12,986.38 2024 460.79 12,525.59 2025 502.68 12,022.91 2026 502.68 11,520.23 2027 502.68 11,017.55 2028 502.68 10,514.87 2029 502.68 10,012.19 2030 502.68 9,509.51 2031 502.68 9,006.83 2032 502.68 8,504.15 2033 502.68 8,001.47 2034 502.68 7,498.79 2035 502.68 6,996.11 2036 502.68 6,493.43 2037 502.68 5,990.75 2038 502.68 5,488.07 2039 502.68 4,985.39 2040 502.68 4,482.71 2041 502.68 3,980.03 2042 502.68 3,477.35 2043 502.68 2,974.67 2044 502.68 2,471.99 2045 502.68 1,969.31 2046 502.68 1,466.63 2047 502.68 963.95 2048 502.68 461.27 2049 461.27 0.00 2050 0.00 0.00 Once all after-tax contributions are "used", Box 2a should equal Box 1 on the 1099R form. (this amount goes in Box 5) 1099R Reporting Printed: 12/11/202465 of 86 BUFFALO GROVE POLICE PENSION FUND Schwall, Gregory R. Monthly Cumulative Actual Correct Balance Balance Benefit Period Benefit Benefit (Underpaid) (Underpaid) Month-Year Paid Due Overpaid Overpaid Jan-24 (4-31) 6,890.84 7,123.75 (232.91) (232.91) Feb-24 7,629.14 7,887.01 (257.87) (490.78) Mar-24 7,629.14 7,887.01 (257.87) (748.65) Apr-24 7,629.14 7,887.01 (257.87) (1,006.52) May-24 7,629.14 7,887.01 (257.87) (1,264.39) Jun-24 7,629.14 7,887.01 (257.87) (1,522.26) Jul-24 7,629.14 7,887.01 (257.87) (1,780.13) Aug-24 7,629.14 7,887.01 (257.87) (2,038.00) Sep-24 7,629.14 7,887.01 (257.87) (2,295.87) Oct-24 7,629.14 7,887.01 (257.87) (2,553.74) Nov-24 7,629.14 7,887.01 (257.87) (2,811.61) Total 83,182.24 85,993.85 (2,811.61) Amount Due To Pensioner 2,811.61 The signature below authorizes Lauterbach & Amen, LLP to remit this balance: _______ on the next scheduled paydate ____________________________________________________________________ ___________ Pension Board Member Signature Pension Board Member Name Date Page 1 of 1 66 of 86 Type of Prior COLA Current Annualized Pensioner Pension Notes Benefit Increase Benefit Benefit Aradi, Lester Service 8,791.52 263.75 9,055.27 108,663.24 Balinski, Steve S.Service 13,444.71 403.34 13,848.05 166,176.60 Bennett, William Service 5,530.90 165.93 5,696.83 68,361.96 Bethge, Roy H.Service 9,542.89 286.29 9,829.18 117,950.16 Bottenhagen, Donald H.Service 5,898.83 176.96 6,075.79 72,909.48 Bourbonnais, Christy R.Service 4,676.70 140.30 4,817.00 57,804.00 Bourbonnais, Keith T.Service 6,722.78 201.68 6,924.46 83,093.52 Bucalo, Mark W.Service 10,138.73 304.16 10,442.89 125,314.68 Casstevens, Steven R.Service 4,582.77 137.48 4,720.25 56,643.00 Chrobak, Deborah J.Service 6,768.38 203.05 6,971.43 83,657.16 Clyburn, Richard Service 8,061.39 241.84 8,303.23 99,638.76 Corrigan, Michael J.Service 1,010.54 0.00 1,010.54 12,126.48 Crimmins, John Service 4,486.20 134.59 4,620.79 55,449.48 Dattilo, Thomas J.Service 8,325.10 249.75 8,574.85 102,898.20 Derken, Thomas P.Service 7,077.13 212.31 7,289.44 87,473.28 Dunne, James J.Service 10,760.94 322.83 11,083.77 133,005.24 Eisenmenger, Scott D.Service 9,022.55 0.00 9,022.55 108,270.60 Freeman, Janet I.Service 7,887.01 0.00 7,887.01 94,644.12 Gallagher, Anthony P.Service 9,463.10 283.89 9,746.99 116,963.88 Gretz, Timothy J.Service 7,594.48 227.84 7,822.32 93,867.84 Gretz, Timothy J. - QILDRO QILDRO 2,336.76 70.10 2,406.86 28,882.32 Goldstein, Anthony M.Service 8,315.15 0.00 8,315.15 99,781.80 Gozdecki, Lynn A.Spouse 5,852.06 0.00 5,852.06 70,224.72 Haisley, Stephen D.Service 7,957.17 238.72 8,195.89 98,350.68 Halverson, David W.Service 4,391.01 131.73 4,522.74 54,272.88 Halverson, David W. - QILDRO QILDRO 3,263.29 97.90 3,361.19 40,334.28 Hamelberg, Rollin S.Service 7,945.92 238.38 8,184.30 98,211.60 Harris, James A.Service 7,435.53 223.07 7,658.60 91,903.20 Heer, Catherine T.Spouse 6,010.67 0.00 6,010.67 72,128.04 Heiderscheidt, John J.Service 4,459.53 133.79 4,593.32 55,119.84 Horbus, Frank S.Service 7,363.98 0.00 7,363.98 88,367.76 Husak, Steven D.Service 8,637.51 259.13 8,896.64 106,759.68 Hyland, Richard J. Jr.Service 6,776.66 203.30 6,979.96 83,759.52 Jamil, Paul M.Service 8,114.14 243.42 8,357.56 100,290.72 Kenney, Kerry B.Service 7,632.44 228.97 7,861.41 94,336.92 Kristiansen, Scott A.Service 9,139.63 274.19 9,413.82 112,965.84 Kupsak, Staci M.Service 5,854.72 0.00 5,854.72 70,256.64 Lampert, Nelson N.Service 5,046.20 151.39 5,197.59 62,371.08 Leake, Robert E. Jr.Service 8,835.83 265.07 9,100.90 109,210.80 Buffalo Grove Police Pension Fund Annual Benefit Increases (COLA) Effective as of January 1, 2025 Page 1 67 of 86 Type of Prior COLA Current Annualized Pensioner Pension Notes Benefit Increase Benefit Benefit Buffalo Grove Police Pension Fund Annual Benefit Increases (COLA) Effective as of January 1, 2025 Martin, Michael A.Service 5,062.08 0.00 5,062.08 60,744.96 McCann, Leo C.Service 9,099.02 272.97 9,371.99 112,463.88 McGinn, Timothy J.Service 6,439.46 193.18 6,632.64 79,591.68 Millett, Michael J.Service 8,959.53 268.79 9,228.32 110,739.84 Montgomery, Bruce M.Service 5,512.31 165.37 5,677.68 68,132.16 Montiel, Amador A.Service 7,683.20 0.00 7,683.20 92,198.40 Moran, Anthony M.Service 6,633.32 0.00 6,633.32 79,599.84 Nelson, James A.Service 7,330.05 219.90 7,549.95 90,599.40 Newton, James E.Service 10,559.16 316.77 10,875.93 130,511.16 Pakaski, Robert Service 5,717.53 171.52 5,889.05 70,668.60 Pakaski, Robert - QILDRO QILDRO 1,958.13 58.75 2,016.88 24,202.56 Parets, Stuart Service 5,336.61 160.10 5,496.71 65,960.52 Parkinson, Steven P.Service 8,225.67 246.77 8,472.44 101,669.28 Paul, Cliffton A.Service 6,153.17 184.60 6,337.77 76,053.24 Positano, Vincent J.Service 7,422.73 222.68 7,645.41 91,744.92 Poziwilko, Thomas Service 6,625.21 198.76 6,823.97 81,887.64 Quid, Carol M.Spouse 7,315.44 0.00 7,315.44 87,785.28 Ramirez, Julie M.Deferred Annuitant 0.00 0.00 0.00 0.00 Reed, Thomas G.Service 10,559.16 316.77 10,875.93 130,511.16 Schulz, Dean R.Service 8,833.15 264.99 9,098.14 109,177.68 Schwall, Gregory R.Service 5,803.08 0.00 5,803.08 69,636.96 Schwall, Gregory R. - QILDRO QILDRO 2,083.93 0.00 2,083.93 25,007.16 Senese, Jennifer Spouse - NT 3,912.36 0.00 3,912.36 46,948.32 Sepot, John F.Service 7,643.87 229.32 7,873.19 94,478.28 Shreeves, Mark L.Service 6,295.08 188.85 6,483.93 77,807.16 Smith, Randall A.Service 6,589.54 197.69 6,787.23 81,446.76 Soucy, Michael S. - 1 Service 1 10,157.46 304.72 10,462.18 125,546.16 Soucy, Michael - 2 Spouse 1 2,359.10 0.00 2,359.10 28,309.20 Stopper, Jerome P.Service 6,614.64 198.44 6,813.08 81,756.96 Stopper, Lori L.Duty Disability 3,548.30 0.00 3,548.30 42,579.60 Szos, Michael R.Service 10,367.47 0.00 10,367.47 124,409.64 Szos, Susan C.Spouse 5,922.69 0.00 5,922.69 71,072.28 Tomaso, James D.Service 6,040.29 181.21 6,221.50 74,658.00 Urry, William H.Service 5,498.68 164.96 5,663.64 67,963.68 Vingan, George Service 6,652.84 199.59 6,852.43 82,229.16 Voigt, Arthur J.Service 11,068.64 332.06 11,400.70 136,808.40 Wagner, Edward G.Service 12,053.03 361.59 12,414.62 148,975.44 Weidner, Charles E.Service 6,826.35 204.79 7,031.14 84,373.68 Wenckebach, Gary Service 5,849.87 175.50 6,025.37 72,304.44 Page 2 68 of 86 Type of Prior COLA Current Annualized Pensioner Pension Notes Benefit Increase Benefit Benefit Buffalo Grove Police Pension Fund Annual Benefit Increases (COLA) Effective as of January 1, 2025 Yester, James R.Service 6,692.98 200.79 6,893.77 82,725.24 Totals 542,559.98 12,916.58 555,476.56 6,665,718.72 Page 3 69 of 86 Amount of New Monthly Reason Date Change Benefit Schwall, Gregory R.Initial Increase 2/1/2025 236.61 6,039.69 Szos, Michael R.Initial Increase 3/1/2025 647.97 11,015.44 Horbus, Frank S.Initial Increase 8/1/2025 607.53 7,971.51 Goldstein, Anthony M.Initial Increase 9/1/2025 457.33 8,772.48 Corrigan, Michael J.Initial Increase 10/1/2025 30.32 1,040.86 Kupsak, Staci M.Initial Increase 12/1/2025 878.21 6,732.93 Stopper, Lori L.Initial Increase 1/1/2026 2,341.88 5,890.18 Freeman, Janet I.Initial Increase 2/1/2026 354.92 8,241.93 Martin, Michael A.Initial Increase 3/1/2026 708.69 5,770.77 Montiel, Amador A.Initial Increase 3/1/2026 576.24 8,259.44 Eisenmenger, Scott D.Initial Increase 11/1/2026 1,172.93 10,195.48 Moran, Anthony M.Initial Increase 11/1/2026 912.08 7,545.40 Ramirez, Julie M. - New Initial Benefit Pro Rata 5/28/2033 230.89 230.89 Ramirez, Julie M. - New Initial Benefit 1st Full Month 6/1/2033 1,558.49 1,789.38 Ramirez, Julie M.Initial Increase 6/1/2034 53.68 1,843.06 1.Soucy, Michael S. - Receives 2 pensions Service & Spouse Notes Buffalo Grove Police Pension Fund Summary of Benefit Changes and Notes Effective as of January 1, 2025 Pensioner Page 4 70 of 86 Organization: Year: 2024 Hours Completed Date Completed Cert on File 1 8 5/8-5/10 Yes 2 X 3/18/2024 Yes 3 4 5 6 Hours Completed Date Completed Cert on File 1 8 12/17/2024 Yes 2 3 4 5 6 Hours Completed Date Completed Cert on File 1 8 5/8-5/10 Yes 2 3 4 5 6 Hours Completed Date Completed Cert on File 1 2 3 4 5 6 Hours Completed Date Completed Cert on File 1 2 3 4 5 6 8 IPPFA Illinois Pension Conference Certified Trustee Training Buffalo Grove Police Pension Fund Anthony Turano Hours Required Type of Training Cody Barker OMA Training Hours Required Type of Training 8 IML Training Tony Montiel Hours Required Type of Training 8 IPPFA Illinois Pension Conference Jeff Feld Hours Required Type of Training 8 Kenneth Fox Hours Required Type of Training 8 Page 1 of 1 71 of 86 72 of 86 73 of 86 74 of 86 75 of 86 76 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 1 Volume 26, Issue 1, January 2025 Legal and Legislative Update Failure to Allow Reasonable Medical Treatment Dooms Officer’s Disability Claim Shirley v. Village of Clarendon Hills Police Pension Fund et. al, 2024 IL App (3d) 230257 Officer Shirley was injured while assisting paramedics by restraining a minor lying on a cot for emergency transport. While the officer struggled to restrain the minor, he felt a pop in his right shoulder and later experienced severe pain and decreased strength in his right arm. Officer Shirley sought treatment shortly after the incident and was referred to physical therapy. He was also seen by an orthopedic specialist who advised on both surgical and conservative treatment options. While conservative treatment in the form of physical therapy was offered, it was unlikely it would resolve the issues in the officer’s right shoulder. If those issues did not resolve, surgery was the only other option. Following extensive physical therapy, the officer’s symptoms did not improve, and he was discharged from physical therapy as the doctor found his only option for improvement would be surgery. In This Issue… 1 Failure to Allow Reasonable Medical Treatment Dooms Officer’s Disability Claim 3 New Rules & Regulations Now Available! Unanimous Medical Evidence Leads to Disability Despite Evidence of Farming 4 What is the Proper Legal Standard for Determining Causation Under Article 4? 5 Congress Passes Social Security Fairness Act No Duty Disability Without Causal Link Between Duty Incidents and PTSD Disability 7 Officer Entitled to Disability Benefits after Municipality Fails to Provide Employment Court Grants Line of Duty Disability Benefits Despite Return to Work After Accident 8 Public Bodies Must Give Notice of Change in Regular Meeting Dates 9 DOI Publishes Tier 2 Salary Cap and COLA Increase for 2025 Suggested Agenda Items for April 2025 10 RDL News 77 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 2 Officer Shirley saw several doctors all of whom diagnosed him with a SLAP tear of the right shoulder. The doctors also agreed further conservative treatment would be fruitless and recommended surgery. The medical evidence showed surgery would likely be successful in returning the officer to full duty and was accompanied by minimal risks. Following a two-year period of light duty, the police department terminated Shirley’s light duty position, and he applied for a line of duty or, in the alternative, a not in the line of duty disability pension. All three pension board doctors agreed Officer Shirley was disabled from the tear in his right shoulder. The three IME physicians also agreed the tear in the right shoulder was caused by the incident where Officer Shirley attempted to restrain the minor on the cot. Two of the IME physicians opined it was highly likely Shirlye would be able to return to duty after surgery. They also opined the risks associated with the surgery were minimal. The remaining IME physician did not offer an opinion on return following surgery. According to the IME physicians and his testimony before the pension board, the officer choose not to pursue a surgical option because he suffered from a migraine condition triggered by stressful situations and he knew people with similar injuries who underwent unsuccessful surgical procedures. Following a hearing in which the Village participated as an intervenor, the pension board found Officer Shirley disabled as the result of an act of duty but his refusal to undergo surgical treatment because of his migraine condition and anecdotal evidence from others was unreasonable. The pension board denied both line of duty and not in the line of duty pension benefits. On appeal, Officer Shirley argued his refusal of surgery was not unreasonable because some of the physicians who evaluated him identified risks associated with surgery. He argued this was analogous to the Mulak case where conservative treatment rather than surgery was accepted as a reasonable course of treatment. However, the Court found this case different than Mulak because the evidence before the pension board offered no treatment other than surgery would remedy the officer’s disability. Plaintiff also argued that because his refusal to undergo surgery was based on his sincere concerns over risk, it was reasonable and should not result in denial of benefits. The Court found the pension board properly rejected this basis finding he had offered insufficient evidence of his claimed neurological condition and did not present evidence establishing the sincerity of his fears. The Appellate Court also found the pension board’s finding the recommended surgical procedure would have a high likelihood of success was supported by the evidence. Two of the three IME physicians found it had a high probability of success and would return the officer to full and unrestricted police duty. Those same physicians found the risk associated with the surgical procedure to be minimal. While Plaintiff argued there was still some risk associated with surgery and his refusal was therefore reasonable, the Appellate Court found, “we are aware of no governing law that requires a treatment option to be completely risk-free in order to be deemed reasonable.” Finishing its analysis of the denial of line of duty disability benefits, the Appellate Court affirmed the pension board determination the officer’s refusal to undergo surgery constituted a superseding cause of his disability. “A refusal to undergo recommended treatment rises to the level of a superseding cause sufficient to warrant the denial of a pension if the treatment would have restored the claimant’s ability to work as a police officer.” Because two IME physicians found the surgery would have allowed the officer to return to work as a police officer, it was not against the manifest weight of the evidence to find his refusal to undergo surgery rose to the level of a superseding cause of his continuing disability and line of duty disability benefits were properly denied. On appeal, the officer also argued that even if his refusal to undergo surgery resulted in denial of line 78 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 3 of duty disability benefits, he should still be entitled to not in the line of duty disability pension benefits. The Appellate Court affirmed the pension board’s denial of any type of disability benefit adopting reasoning from the Turcol Court that, “regardless of the type of pension that a claimant seeks, a compensable disability will not be found if the claimant unreasonably refuses the necessary medical treatment for the disabling injury.” Citing Mulack, the Court affirmed the notion that “the term ‘disability’, as used in the Code, has been interpreted to ‘exclude medical conditions [that] can be remedied without significant danger to life or health or extraordinary suffering and when medical opinion indicates that a prescribed remedy offers a reasonable prospect for relief.” Ultimately, the Appellate Court affirmed the pension board decision to deny line of duty and non-duty disability benefits. Inasmuch as there are very few cases dealing with refusal of medical treatment in a disability context, this case provides much needed guidance for pension boards. However, cases of this nature are extraordinarily fact specific and should be analyzed on a case-by- case basis. The Shirley case is the first reported decision to affirm a pension board denial of disability benefits due to failure to seek surgical treatment. ❖ New Rules & Regulations Now Available! RDL attorneys have completed extensive revisions to the form rules and regulations for both police and firefighters’ pension funds. These updates reflect both statutory and case law changes relevant to pension board operations. If you are a quarterly phone or in-person attendance pension board and would like to consider adoption of the updated rules, please contact our office for a draft copy. If you are a non-retainer pension board and would like to consider adoption of the new rules, please contact our office for information. ❖ Unanimous Medical Evidence Leads to Disability Despite Evidence of Farming Barz v. Vill. of Hazel Crest Firefighters’ Pension Fund, 2024 IL App (1st) 240137-U Firefighter Barz sprained his ankle on two separate dates in 2018. After the first sprain, he returned to work several months after having been cleared by the municipality’s physician. On the first day back, he again sprained the same ankle. The second sprain, according to the applicant, led to several surgeries, extensive medical treatment, and an eventual placement of a spinal cord stimulator to alleviate symptoms of complex regional pain syndrome. Complicating this series of events were two facts the pension board found significant. First, the applicant was operating an 80-plus acre farm at the time he was claiming he was unable to perform duties of a firefighter. Second, his forthrightness about these activities was called into question by both the Board as well as the intervenor municipality. The pension board, after hearing extensive testimony, found the applicant failed to prove his current disability was in fact suffered during an act of duty. This conclusion was primarily based on the pension board’s views about the applicant’s veracity. Both the circuit court and the appellate court disagreed. It was undisputed Barz was disabled. However, as the Appellate Court found, the manifest weight of the evidence showed Barz's 2018 on-duty injuries were clearly a causative and contributing factor in his disability, and the Board erred in ignoring the three independent medical evaluators’ reports and documentary evidence showing a causal connection. The Appellate Court stated there was no evidence an off-duty injury broke the causal chain or that Barz lied or concealed information to his medical providers to such an extent to warrant the Board completely discarding the independent medical opinions. The Appellate Court rejected the pension board’s finding the IME opinions did not address, reference, or comment on Barz's farming operation 79 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 4 or the surveillance videos, which the Board found highly relevant. The Court noted the intervenor failed to take any evidence depositions to support the allegations against the applicant. While the board has the authority to judge Barz's credibility, the Appellate Court concluded there was simply no evidence to support the Board's finding Barz lied or concealed anything. It was pure supposition to suspect Barz was not forthright about causation based on the lack of commentary about farming in the medical documentation, according to the Appellate Court. The Appellate Court found the board unduly emphasized the extent and nature of Barz's farming operation. While Barz fed his chickens and hogs, the Court specifically found there was no evidence these activities resulted in a new or intervening injury that broke the casual chain between his 2018 work-related injuries and CRPS diagnosis. The Appellate Court found none of the examining IME physicians pointed to any other cause or intervening event for Barz's permanent disability. Nor did any other medical provider. The Appellate Court concluded there was no direct evidence Barz lied, either in the past or present, and there were no minority medical opinions for the Board to rely on. All medical opinions favored Barz, finding the board discounted them all and assumed Barz lied. It also found the board jumped to the conclusion there was an intervening non- work-related injury that broke the causal connection between Barz's 2018 injuries and his disability. ❖ What is the Proper Legal Standard for Determining Causation Under Article 4? Sobczyk v. Bd. of Trustees of the Rockford Firefighters’ Pension Fd., et al., 2024 IL App (4th) 240261-U Plaintiff sought line-of-duty or occupational disease disability benefits due to his cancer diagnosis. Plaintiff joined the Rockford Fire Department in March 1995 and was diagnosed with p16-positive squamous cell carcinoma in April 2021. It metastasized to his other lymph nodes. Biopsies of those nodes confirmed p16-positive squamous cell cancer was negative for the human papillomavirus (HPV) 16 and 18 genotypes. Sobczyk applied for line-of-duty and occupational- disease disability pensions, citing his cancer diagnosis. Four hearings were conducted regarding his claim. Initially, the hearing officer went over the basic legal principles, including causation, to which Plaintiff’s attorney did not object. Sobczyk testified he was exposed to smoke, plastic fumes, asbestos, and other carcinogens almost daily. He wore all the department-issued gear when responding to fire calls but routinely took off his breathing apparatus when removing smoldering debris. He occasionally wore an N95 mask when there was a lot of dust and other fumes. The Pension Board received the reports of its independent medical examiners (IMEs) Dr. Campbell, Dr. Samo, and Dr. Lieberman. It also received the report and heard testimony from Plaintiff’s retained expert, Dr. Orris, trained in occupational and internal medicine. Dr. Campbell, board-certified oncologist, opined Plaintiff’s firefighter duties did not contribute to his cancer diagnosis. He noted Plaintiff’s tumors tested “strongly positive” for p16, which is indicative of cancer caused by HPV. Dr. Campbell explained Plaintiff had negative results for HPV 16 and 18 genotypes because cancers become more “deranged” and lose HPV positivity when they metastasize. Dr. Samo opined Plaintiff’s cancer is unrelated to an act of duty, noting patients are routinely only tested for the two of the most common HPV variants out of over 100. He further noted the relevant medical studies show no link between the type and location of the cancer Plaintiff was diagnosed with and firefighting duties. Dr. Lieberman, board-certified in otolaryngology, noted biopsies positive for p16 are indicative of HPV-driven tumors. He opined Plaintiff’s cancer is HPV-related and not caused by firefighting duties. 80 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 5 Plaintiff’s expert opined “it is highly likely that [plaintiff’s] cancer is one covered” under the Pension Code, given plaintiff’s exposure to various carcinogens over the course of his decades-long employment as a firefighter. He further opined Plaintiff’s cancer was not likely caused by HPV, “given the genotype 16 and 18 being negative.” The Pension Board denied Plaintiff’s application for line-of-duty and occupational disease disability pension benefits, reasoning most of the medical evidence showed Plaintiff’s cancer was caused by HPV, not firefighting duties or exposure to heat, radiation, or a known carcinogen. It also found that while smoke could be a cause or factor in the development of Plaintiff’s cancer, he failed to present evidence of it. On appeal, the Appellate Court affirmed the decision of the pension board. It held Plaintiff failed to show the Pension Board used the wrong causation standard, and the Pension Board relied on sufficient evidence to reach its decision. The Appellate Court held the Pension Board utilized the proper causation standard. The Pension Board properly relied on the IMEs to conclude Plaintiff’s cancer was caused by HPV. It properly placed “paramount weight” on Dr. Campbell’s opinion because he is a board-certified oncologist. Sobczyk illustrates the proper causation standard pension boards must utilize when adjudicating Article 4 line-of-duty and occupational disease disability applications. While the evidence does not need to be unanimous, some evidence must support the pension board’s determination. Relevant, but not dispositive, factors a pension board may consider when placing greater weight on certain doctor’s opinions include whether a doctor specializes in the type of injury the applicant sustained.❖ Congress Passes Social Security Fairness Act Following action in the House of Representatives, in late December the Senate passed legislation to end the windfall elimination and government pension offset provisions for social security. Those provisions had acted to reduce the social security benefit of individuals who also received a local government pension. Retired police officers and firefighters, including their eligible spouses, who qualify for social security should see an increase to those benefits in 2025 as the result of the elimination of these reductions. At the time of this writing, President Biden had not yet signed the bill into law although it is expected he will do so. ❖ No Duty Disability Without Causal Link Between Duty Incidents and PTSD Disability Mayer v. the Bd. of Trustees of the Calumet City Firefighters’ Pension Fund, 2024 IL App (1st) 232059-U Plaintiff sought line-of-duty disability benefits related to psychological and emotional trauma. After the Pension Board denied line of duty disability benefits, Plaintiff argued the Pension Board utilized the wrong causation standard when it focused solely on the independent medical evaluators (IMEs) opinions to the exclusion of other evidence. The Appellate Court disagreed. Plaintiff’s background included multiple instances of psychological trauma preceding her fire service. These included domestic conflict between her mother and father, the murder of her older brother when she was nine years old, sexual molestation by a neighbor’s teenaged son when she was ten and eleven years old, and verbal and physical abuse by her mother, until she left home at eighteen. She was also successfully treated for post-partum depression in 1998 with Zoloft. At the time she joined the Fire Department in 2009, Plaintiff was neither diagnosed with nor receiving treatment for any psychiatric conditions. Plaintiff identified numerous duty incidents she claimed led to her disability. Plaintiff identified incidents in 2015, 2018, and 2019 that she alleged contributed to her disability. She returned to full, unrestricted duty after each incident. She did not receive any 81 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 6 treatment after these incidents aside from being proscribed Zoloft after the 2018 incident. In April 2020, Plaintiff’s father suffered a heart attack. The paramedics did not administer emergency care or treatment to Plaintiff’s father, and they remained on the scene for only nine minutes. Her father died, and Plaintiff subsequently became depressed, suffered from insomnia, began drinking heavily, and had nightmares and flashbacks. Plaintiff consulted Dr. Nitin Thapar, who diagnosed her with anxiety disorder and prescribed Xanax. Plaintiff subsequently responded to a cardiac arrest call and attempted resuscitation efforts. A female family member yelled at Plaintiff not to touch the patient. Plaintiff was ordered to honor the family member’s wishes. She became upset and left the house. That was the last day Plaintiff worked in a full, unrestricted capacity. A few months later Plaintiff applied for duty-disability benefits, citing post-traumatic stress disorder (PTSD), anxiety, and depression resulting from the cumulative effects of traumatic incidents she experienced on the job. Plaintiff was evaluated by four (4) IMEs. Dr. Ganellen diagnosed Plaintiff with chronic major depressive disorder and generalized anxiety disorder. She opined the death of Plaintiff’s father exacerbated her pre-existing depression and anxiety and caused her disability. Dr. Reff diagnosed Plaintiff with recurrent major depression and PTSD. He opined plaintiff was “disabled by a combination of pre-existing conditions and the contribution of the cumulative effects of firefighting duty.” Dr. Reff opined the death of Plaintiff’s father was the seminal event that led to Plaintiff’s disability. Dr. Conroe diagnosed Plaintiff with recurrent major depression, generalized anxiety disorder, and PTSD. He opined Plaintiff’s condition was manageable prior to her father’s death. Dr. Conroe opined duty incidents did not cause her disability. Dr. Galatzer-Levy diagnosed Plaintiff with PTSD, anxiety disorder, and a substance-abuse disorder in remission. He opined duty incidents did not cause Plaintiff’s disability but may have acted as a trigger. The Pension Board found Plaintiff disabled but determined she failed to establish a causal connection between her disability and an act of duty. The Appellate Court reiterated Plaintiff did not need to prove a duty incident was the primary cause of her disability, only that it aggravated, contributed, or exacerbated her disability. It held the Pension Board relied on sufficient evidence to reach its decision. Specifically, every IME agreed Plaintiff suffered from preexisting mental and emotional issues. Plaintiff testified she did not abuse alcohol or suffer from depression or PTSD until after her father’s death. Plaintiff returned to full, unrestricted duty after every duty incident and only became disabled after her father died. The Appellate Court held the Pension Board reasonably relied on the opinions of the IMEs and on Plaintiff’s testimony in finding she failed to establish her preexisting conditions stemmed from an act of duty or the cumulative effect of acts of duty. It noted that while firefighters/paramedics are regularly exposed to stressful and gruesome events, that alone is insufficient to qualify for a duty disability benefit. The Appellate Court affirmed the Circuit Court, finding significant deference is due the Pension Board considering the record before them. Mayer illustrates exposure to stressful and gruesome events is insufficient alone to establish duty disability. The applicant must present evidence casually linking those events to an actual disability that prevents the firefighter/paramedic from returning to duty. Such evidence can take the form of a doctor’s report establishing a causal link between a duty incident and a disability. Here, Plaintiff identified numerous stressful and gruesome events. However, she failed to present evidence linking those events to her disability. Instead, the overwhelming evidence illustrated the death of Plaintiff’s father triggered her disability.❖ 82 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 7 Officer Entitled to Disability Benefits after Municipality Fails to Provide Employment Moreland v. The Retirement Board of the Policemen’s Annuity and Benefit Fund of the City of Chicago, 2024 IL App (1st) 240049 Plaintiff applied for duty disability benefits after injuring his lower back and left hip in a traffic accident, while he was on duty and responding to a shooting. Six weeks after the accident, Plaintiff went to the emergency room with severe lower back pain. He was diagnosed with sciatica and prescribed various medications. Approximately 5 months later, after completing a course of physical therapy, Plaintiff’s treating physician cleared him for full, unrestricted duty. Plaintiff worked full, unrestricted duty until early December of 2020, when he went on medical leave after contracting COVID-19. In late January of 2021, an MRI of Plaintiff’s back revealed multiple herniated discs and disc degeneration. Plaintiff underwent hip arthroscopy and related procedures in June of 2021. Plaintiff was prescribed physical therapy, reaching maximum medical improvement in March of 2022. His treating physician approved his return to full, unrestricted duty related to the left hip issue. Nevertheless, Plaintiff complained of lower back pain. Related to the lower back issues, the Board’s independent medical examiner found Plaintiff was fit for full, unrestricted duty. In contrast, Plaintiff’s doctor opined he was permanently disabled due to the back issues. Before the Pension Board held a hearing on his disability application, Plaintiff reported to the Chicago Police Department Medical Section (“CPD Medical”) to obtain an assignment. CPD Medical referred Plaintiff to Dr. Kristin Houseknecht, who opined he is unable to return to duty based on his treating physician’s opinion that Plaintiff was disabled due to his back issues. After hearing the evidence, the Pension Board denied his application for duty disability benefits, relying on the independent medical examiner’s opinion. On administrative review, Plaintiff argued he was denied a disability benefit, yet unable to return to work due to the City’s employment decision. Citing the Illinois Supreme Court’s decision in Kouzoukas v. The Retirement Board of the Policeman’s Annuity and Benefit Fund, Plaintiff asserted he was in a “catch-22” position, as he is unable to work but is not receiving disability benefits. The Circuit Court rejected Plaintiff’s argument and affirmed the decision of the Pension Board, finding its decision was not contrary to the manifest weight of the evidence. Plaintiff appealed. The Appellate Court reversed, finding the City’s failure/refusal to assign Plaintiff to a position made the Pension Board’s decision contrary to the manifest weight of the evidence. Once again, citing Kouzoukas, the Appellate Court found the Pension Board did not have exclusive jurisdiction over the award of Plaintiff’s disability benefits since the City’s employment decision placed him in a “catch- 22” position, thereby requiring the award of disability benefits. This decision represents a continuation of the cases finding the City’s employment decision trumps the Pension Board’s decision after evaluating the medical evidence.❖ Court Grants Line of Duty Disability Benefits Despite Return to Work After Accident Bechina v. Ret. Bd. of Policemen's Annuity & Benefit Fund of City of Chicago, 2024 IL App (1st) 240324-U In Bechina, the First District Court of Appeals reversed the decision of the Retirement Board of the Policeman’s Annuity and Benefit Fund finding plaintiff was not entitled to a duty disability benefit. The Appellate Court found the board’s findings, made in reliance on the opinion of the chosen IME physician, were against the manifest weight of the evidence. The Appellate Court cited several issues with the IME opinion relied upon by the board that failed to carry the day. 83 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 8 The record showed Bechina was injured on May 11, 2016, while on duty. Initial statements indicated she suffered injury to her cervical spine, shoulder and left elbow. She was treated the following days for these injuries. While not specifically complaining of a lumbar back injury at the time, Bechina now claimed her current disabling conditions – which included lumbar issues requiring multiple surgeries – were directly related to her on-duty accident in 2016. The Board hired Dr. Bryan Neal, an orthopedic surgeon, to conduct her IME. Dr. Neal “[did] not find any of the current diagnoses *** to be related to her motor vehicle accident.” He refrained from making a prognosis about her ability to return to work pending her planned lumbar spine fusion surgery. He reported Bechina “does not have the ability to work full-duty work,” in that she was not able to safely arrest someone actively resisting. He noted, but did not explain, the significance of Bechina’s return to full, unrestricted duty for over 4 years. Bechina sent Dr. Neal's report to her three treating physicians, who each provided a narrative report describing their treatment of Bechina and medical opinion on her conditions. All three treating physicians disagreed with Dr. Neal’s assessment. The Appellate Court noted that none of the treating physicians commented or opined about Bechina returning to work for over 4 years. The Board found Bechina was disabled from full and unrestricted police duties due to her lumbar spine condition, but the disability was not the result of an act of duty. The Board explained it gave more weight to the opinion of Dr. Neal, who concluded Bechina's lumbar spine condition, while disabling, was unrelated to the 2016 collision. The Board found significant the four-plus year gap between Bechina's 2016 injuries and her treatment beginning in 2020. The Appellate Court found the Board ignored the fact Bechina had been involved in only one traumatic accident in which the relevant portions of her body were injured. While the Board relied on Dr. Neal, the Court found Dr. Neal did not explain the basis for this conclusion or propose any alternative reason for Bechina's lumbar spine condition. Instead, the Board incorrectly relied upon Dr. Neal's bare assertion to support it’s finding the cause of Bechina's long history of medical treatment and numerous surgical procedures is not the 2016 on-duty vehicular accident. The Appellate Court also noted that no physician, either treating or examining, proposed Bechina's lower back condition was idiopathic in nature. No one suggested the disc in her lower back herniated spontaneously or gradually over time or even that it could have. To the extent the Board assumed as much, it had no evidentiary basis to do so. The Board also placed considerable weight on the fact Bechina returned to work without restrictions from June 2016 until January 2021 and that Dr. Neal acknowledged this fact in his report, whereas none of her treating physicians mentioned it. The Appellate Court concluded Bechina's return to work alone was insufficient evidence to conclude her injuries from the 2016 collision were thoroughly resolved. The Appellate Court also stated that while there were conflicting medical opinions, there was no conflicting evidence on the actual cause of Bechina's disability—no intervening injury, medical condition, or even proposed attribution to normal aging. According to the Appellate Court, absent any other explanation, the opposite conclusion—that Bechina's lumbar spine injury in 2016 caused her disabling lower back pain in 2021—is clearly evident to any reasonable finder of fact. ❖ Public Bodies Must Give Notice of Change in Regular Meeting Dates Public Access Opinion 24-013 The Open Meetings Act (OMA) requires public bodies, including pension boards, to annually publish a schedule of regular meeting dates at the beginning of each calendar or fiscal year. If a change is made to the regular meeting dates, the 84 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 9 public body must give at least 10 days’ notice of the change by publication in a newspaper of general circulation in the area. A singular rescheduled regular meeting need only comply with the usual 48-hour notice requirement. At a regular meeting, the Village Board of Marissa, Illinois, voted to move its regular meetings from the third Monday of the month to the third Wednesday of the month, “until further notice”. No additional notice of this change was given to the public at the time and within 10 days of the subsequent two village board meetings. A complaint was filed with the Public Access Counselor (PAC) at the Attorney General’s Office alleging the village board had failed to comply with the 10-day notice and publishing requirement. In a binding opinion, the PAC agreed the village’s action violated the OMA. In construing the notice required for changes to a meeting schedule, the PAC focused on Section 2.02 and 2.03 of the OMA. Section 2.02 provides public notice of a rescheduled regular meeting (or special meeting) must be given at least 48 hours in advance. Section 2.03 provides that if a change is made to the regular meeting dates, at least 10 days’ notice must be given by publication in a newspaper. To harmonize these two seemingly conflicting deadlines, the PAC reasoned the 48-hour requirement of Section 2.02 applies only to a singular rescheduled regular meeting. The ten-day requirement of Section 2.03 applies when simultaneously rescheduling more than one regular meeting. As a result, the Village Board violated the OMA when it rescheduled more than one regular meeting by one act without meeting the ten day or publication requirement of Section 2.03 of the OMA. How does this apply to your pension board meeting schedule? First, boards should be making a schedule of its regular meetings for the year available at the beginning of each calendar year. In the event a change needs to be made to that schedule once approved, simultaneous changes to multiple regular meeting dates would require compliance with Section 2.03 by publication in a newspaper with at least 10 days’ notice. Changes to only one meeting date need only comply with the 48-hour notice requirement of Section 2.02. ❖ DOI Publishes Tier 2 Salary Cap and COLA Increase for 2025 Via a SIREN issued November 1, 2024, the Department of Insurance has released the salary cap limitation for pension purposes and annual increases for tier two pensioners. Recall that for tier two member of Article 3 and 4 pension funds, the DOI is required to publish the maximum salary for pension purposes which increases annually at the lesser of 3% or the annual unadjusted consumer price index (CPI) for the prior 12 months ending in September. Likewise, the COLA increase for tier two pensioners is calculated as the lesser of 3% or ½ the annual unadjusted percentage change in CPI for the prior 12 months ending in September. The resulting calculation published by the DOI on November 1 is a maximum pensionable salary for tier two members for 2025 of $141,407.74. This figure should be used as a cap for both retirement determinations and salary withholdings. The COLA for tier two members for 2025 will be 1.2%.❖ Suggested Agenda Items for April (or 2nd Quarter of 2025) • Election of active/retired/disabled Trustees. • Review and/or modification of Board’s Cash Management Policy. • Authorize preparation of annual Department of Insurance Report. • Status of independent audit report. (Due within 6 months of close of fiscal year). • Status of Letters of Credit/Collateralization Agreements. • Review and/or modification of Board’s Administrative Rules and Regulations. • Annual filing of statement of economic interest statements for each Trustee. 85 of 86 © 2025 REIMER DOBROVOLNY & LABARDI PC 10 REIMER DOBROVOLNY & LABARDI PC NEWS Legal and Legislative Update Volume 26, Issue 1, January 2025 This publication constitutes advertising material. Information contained herein should not be considered legal advice. Legal and Legislative Update is published periodically. Questions may be directed to: REIMER DOBROVOLNY & LABARDI PC 15 Spinning Wheel Road, Suite 310, Hinsdale, IL 60521 (630) 654-9547 Fax (630) 654-9676 www.rdlaborlawpc.com Unauthorized reproduction prohibited. All rights reserved. • November 1, 2024, RDL partner Brian LaBardi presented at the IPFA fall conference in Addison. • November 6, 2024, RDL managing partner Rick Reimer presented at the Metropolitan Alliance of Police seminar regarding “Decertification for Dummies”. • December 2, 2024, RDL managing partner Rick Reimer presented at the IPPFA certified new trustee training in Naperville. • May 2, 2025, RDL attorneys will attend and present at the IPFA Spring Pension Conference in Addison. • May 7-9, 2025, RDL attorneys will attend and present at the IPPFA Spring Conference in Galena. 86 of 86