North Cook News

Village of Palatine Police Pension Board met May 14

Here is the agenda provided by the board:

I. CALL TO ORDER

II. REVIEW OF MINUTES

1. Motion to approve minutes from regular meeting on 02-13-24.

III. PUBLIC COMMENT

IV. ORDERS OF PAYMENTS

1. Motion to approve legal invoice to Puchalski Goodloe LLC - $ 1,999.32

V. NEW BUSINESS

1. Presentation by Lauterbach & Amen

2. Discussion and action regarding FYE audit and IDOI annual statement

3. Discussion and action regarding FYE actuarial valuation and village contribution request

4. Review preliminary actuarial valuation

5. Review State Street monthly report and Verus Advisers quarterly report

6. Discussion and action if necessary on cash management guidlines.

7. Review village financial report

8. Motion to ratify election results for two active trustee positions Election held 04/15/2023 to 04/19/2023

Results

Christopher Stearns - 35 votes

Martin Van der Hoek - 26 votes

Joseph Christians - 11 votes

Nicholas Robertson - 2 votes 

Stearns and Van der Hoek will serve a two year term - May 2024 to May 2026

9. Select board officers - President, VP, Secretary, and Assistant Secretary

10. Review and approve updated authorized agents resolution for IPOPIF

11. Review and approve updated eCFM for IPOPIF

12. Update signers on the pension fund's accounts

13. Update regarding trustee training

VI. LEGAL UPDATE

1. Attorney Jeff Goodloe

VII. REVIEW OF CLOSED SESSION MINUTES

1. No closed session to review.

VIII.MEMBER RELATED ISSUES

1. Motion to approve retirement of Chief David Daigle on 05-10-24

Hire date - 09/01/1993

Retired - 05/10/2024

Effective date of benefit - 05/11/2023

Creditable service - 30 years, 8 months, 10 days

Monthly benefit - $12,792.62

2. Motion to approve creditable service transfer for former Officer Steven Solimini to

Glencoe Police Pension Fund

Dates Solimini belonged to Palatine Police Pension Fund

Entry date - 12-27-2021

Exit date - 01-14-2024

Solimini contributions - $ 17,981.50

accumulated interest - $ 1,177.70

Employer contributions - $ 19,069.20

Total amount to be transferred to Glencoe Police Pension Fund - $38,138.40

3. Motion to approve admission of new Officer Michael Murphy as Tier 1 member, hire date 07/17/2023

Officer Michael Murphy was previously a Tier 1 pension member with the Oak Park Police Department.

4. Motion to approve admission of new Officer Andrew Camargo as Tier 2 member, hire date 04/15/2024

5. Motion to approve admission of new Officer Christopher DeZutter, hire date of 04/15/2024

6. Motion to approve admission of new Officer Bryan Martinez Peralta, hire date 04/29/2024

7. Motion to approve admission of new Officer Oscar Patino, hire date of 04/29/2024

8. Motion to approve admission of new Officer Nikodemos Weder, hire date of 04/15/2024

9. Motion to approve admission of new Officer Nicholas Skleba, hire date of 04/15/2024

IX. OLD BUSINESS

1. No old business

X. ADJOURNMENT

1. Motion to adjourn meeting

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