Village of Palatine Police Pension Board met Aug. 9.
Here is the agenda provided by the board:
I. CALL TO ORDER
II. REVIEW OF MINUTES
1. Motion to approve 05/10/22 minutes
2. Motion to approve 07/12/22 minutes
III. PUBLIC COMMENT
IV. ORDERS OF PAYMENTS
1. Motion to approve final pro-rated Investment Advisory fee to Morgan Stanley billing period 07-01-22 to 07-31-22
2. Motion to approve final pro-rated Investment Advisory fee to Morgan Stanley billing period 07-01-31 to 07-31-22
3. Motion to approve legal invoice to Puchalski Goodloe LLC $2492.00
4. Motion to approve creditable transfer calculation fees to Lauterbach & Amen $850.00
5. Motion to approve management fee to Great Lakes Advisors $2390.87
V. NEW BUSINESS
1. Review and approve actuarial valuation and village contribution request
2. Review and approve 40 ILCS 5/3-143 report to the Village
3. Select Board Officers - President, VP, Secretary, and Assistant Secretary
4. Discussion and action regarding cash management and consolidation
5. Discussion and action regarding trustee training for 2022
VI. LEGAL UPDATE
A. ATTORNEY JEFF GOODLOE
VII. REVIEW OF CLOSED SESSION MINUTES
1. Semi annual review of closed minutes and verbatim recordings VIII.MEMBER RELATED ISSUES
1. Motion to approve rollover of contributions to resigned Officer Tim Liberty
2. Motion to approve admission of new Officer Shoaib Ghalib as Tier 2 member with hire date of 07-18-22
3. Motion to approve admisstion of new Officer Donald Spears as Tier 2 member with hire date of 07-18-22
4. Motion to approve admission of new Officer Demetrio Muro as Tier 2 member with hire date of 07-18-22
5. Discussion on Chicago Police transfer calculation for Officer Michael Thompson
6. Discussion on Chicago Police transfer calculation for Officer Luke Sopcak
7. Motion to approve retirement of Officer Angela Bonneville as of 09-04-22
Hire date - 09-02-1994
Retired - 09-04-2019
Effective date of benefit - 08-10-22
Creditable service - 25 years ,0 months, 3 days
Monthly benefit - $5440.60
8. Motion to approve retirement of Officer Derek Bahn as of 09-07-22
Hire date - 09-07-1991
Retired date - 09-07-2022
Effective date of benefit - 10-13-2022
Creditable service - 23 day, 0 months, 1 day
Monthly benefit - $5566.79
9. Motion to apporve retirement of Mark Wenrich as of 10-01-22
Hire date - 09-05-1996
Retired date - 10-01-2022
Effective date of benefit - 10-02-2022
Creditable service - 26 years, 0 months, 27 days
Monthly benefit - $6249.56
IX. OLD BUSINESS
X. ADJOURNMENT
VILLAGE OF PALATINE Page 2
Agenda August 9, 2022
1. Motion to adjourn meeting
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