HomeMy WebLinkAboutPacket - 7/19/2022 - Police Pension Board
POLICE PENSION BOARD OF TRUSTEES
Tuesday, July 19, 2022, 9:00 AM
Municipal Center - 333 South Green Street
City Council Chambers
AGENDA
1. Call to Order
2. Roll Call
3. Public Input
4. Call for Nominations and Motion to Approve Annual Election of Board Officers
5. Meeting Minutes:
a) Motion to approve the Minutes from April 12, 2022
b) Semi-Annual Review of Executive Session Minutes and if necessary, motion to
approve, release, and/or maintain the confidentiality of any minutes based on
advice from legal counsel as presented
6. New Business:
a) Motion to approve the pension applications of Grahm McClure and William
Campos
b) Motion to approve the payment of bills
c) Extend the disability for Justin Debolt and Sean Klechak
d) Approve adjustment to Diana Hernandez’s unpaid leave time
e) Discussion/possible action regarding returning excess contributions – O’Herron
portability
7. Report of Investments and Accounts:
a) Motion to approve the Treasurer Report
b) Fixed Assets Investment Report
c) Equities Investment Report
8. Additional Items for Discussion
a) Review the IPOPIF Cash Management Policy and motion to submit the
Enterprise Cash Flow Module and MyStateStreet.com Access Form
b) Review and possible approval of IPOPIF Exhibit A - Resolution Appointing
Authorized Agents
b) Review and possible approval of IPOPIF Exhibit B Notice regarding Transfer of
Investment Assets to the Police Officers' Pension Investment Fund.
c) Annual Training through the IML vs IPPFA
d) Death Audit Service and Louise Burg’s pension payments
9. Motion to Adjourn
Police Pension Board of Trustees
Regular Meeting Minutes
April 12, 2022
Call to Order
The regular meeting of the City of McHenry Police Pension Board of Trustees was called to order at 9:00
a.m. at McHenry City Hall, 333 S Green St, McHenry, IL.
Roll call:
Members present: President Jeffery Foerster, Cheryl Kranz, Sergeant Nick Clesen, Thomas Settles.
Members absent: Officer Robert Beaudoin. Others present: Monte Johnson, Carolyn Lynch, Gary
Karshna, James Schmidt.
Public Input:
No members of the public were present to offer comments.
Approve the January 11, 2022, meeting minutes
A motion was made by Tom Settles and seconded by Sergeant Clesen to approve the minutes from
January 11, 2022. Roll Call Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen, Thomas Settles. 1-
Officer Beaudoin. Motion carried.
Presentation and motion to approve the Treasurer’s Report
James Schmidt will ensure that the pension fund will be below the required threshold by the end of the
month. A motion was made by Tom Settles and seconded by Cheryl Kranz to approve the Treasurer’s
Report as presented. Roll Call Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen, Thomas Settles.
1-Officer Beaudoin. Motion carried.
LPL Financial Equities Report
Jim Schmidt reported that the $4 trillion in printed money has caused inflation. We now have to adjust
our strategy and what we want to do with our portfolio. Growth stocks, international stocks, and
commodities will struggle in this environment. Value does better, and it is recommended by Mr. Schmidt
that we increase the value part of our portfolio and decrease the international exposure. At present we
are at 72% equities and he will transfer money out to get us below 65% before the end of April. The
investment strategy that was shared on his handouts will probably be utilized long term.
Capital Gains, Inc. Fixed Assets Report
Mr. Karshna reported that inflation has been rising along with interest rates. This trend will probably
continue for a while. He reviewed the interest rate table and discussed what rates were a year ago
compared to today. As of today the benchmark is down 4.5% but we are only down 1.11%. Over the last
12 months the market benchmark is down 4.2% and we are only down .19%. We will continue
purchasing short term investment grade bonds. This is currently a good market if you have case to buy
short term bonds.
Semi-annual review of the Police Pension Board Fund Investment Policy
President Foerster reported that this policy was last updated in April of 2021, and it was agreed upon
that no changes are needed.
Motion to approve the payment of bills
President Foerster read the listed bills aloud. The total amount of bills to be paid equals $88,345.14. A
motion was made by Cheryl Kranz and seconded by Sergeant Clesen to approve the payment of bills as
presented. Roll Call Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen, Thomas Settles. 1-Officer
Beaudoin. Motion carried.
Accept pension retirement of Jack Zumwalt, as calculated by Lauterbach & Amen
President Foerster reported that Jack retired after working for almost 11 years. He is a Tier-2 retiree,
and the benefit calculations have been finalized by Lauterbach & Amen. A motion was made by Thomas
Settles and seconded by Sergeant Clesen to accept the pension retirement of Jack Zumwalt, as
calculated by Lauterbach & Amen. Roll Call Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen,
Thomas Settles. 1-Officer Beaudoin. Motion carried.
Review the IPOPIF Cash Management Policy and motion to submit the Enterprise Cash Flow Module
and MyStateStreet.com Access Form
President Foerster explained that the State pension fund is wanting to take our funds by June 1st. We are
not required to submit our funds yet, and there is no penalty listed for not turning over our funds. We
already submitted our representatives to the IPOPIF. The pending lawsuit from other pension funds was
discussed, and it was decided that we should see how that lawsuit plays out or wait until we are forced
to turn over our funds. Sergeant Clesen explained that we might want to watch things closely because
even though there is no penalty, the Courts could require us to turn over funds, and we could be found
in contempt of court for not complying. A motion was made by Thomas Settles and seconded by Cheryl
Kranz to hold on to our funds for the time being and to not turn over the funds to the IPOPIF. Roll Call
Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen, Thomas Settles. 1-Officer Beaudoin. Motion
carried.
Review and possible aproval of IPOPIF Exhibit B Notice regarding Transfer of Investment Assets to the
Police Officers’ Pension Investment Fund
No action was taken on this matter as the Board decided not to turn over the funds at this time.
Additional Items for Discussion
Cheryl Kranz will be reappointed at the next Council meeting to serve for two more years.
Semi-Annual Review of Executive Session Minutes
There is only one set of executive session minutes that has not yet been approved or released, and that
is of the recent hearing for Sergeant Lumber. No action will be taken on this set of minutes until the
next release date.
Motion to Adjourn
A motion was made by Tom Settles and seconded by Sergeant Clesen to adjourn at 9:56 a.m. Roll Call
Vote: 4-ayes: Jeff Foerster, Cheryl Kranz, Sergeant Clesen, Thomas Settles. 1-Officer Beaudoin. Motion
carried.
______________________________
Monte Johnson, Recording Secretary
EXHIBIT B
FORM OF NOTICE
July 19, 2022
Gary Karshna
President, Capital Gains Inc.
8060 W Oakton Street, Suite 102
Niles, IL 60714
Re: Transfer of Investment Assets to the Police Officers' Pension Investment Fund
This letter is intended to notify you of the upcoming transfer of investment assets of McHenry
Police Pension Fund (the "Pension Fund") to the Police Officers' Pension Investment Fund
("IPOPIF") on September 1, 2022.
Public Act 101-610, which took effect on January 1, 2020, requires this transfer of assets. IPOPIF
has notified the Pension Fund the transfer will occur on September 1, 2022. The Board of Trustees
of the Pension Fund adopted a resolution to effectuate the transfer, a copy of which is enclosed
with this notice.
You are directed to assist the Pension Fund and IPOPIF in this transfer. IPOPIF has retained State
Street Bank and Trust as its custodian. State Street must receive all assets included on a Certified
Investment Asset List on the Transfer Date. You shall provide IPOPIF and State Street Bank and
Trust with regular information on investment assets that includes, but is not limited to, custody
statements, holdings and transaction data, and investment reports.
IPOPIF will prepare and transmit a Certified Investment Asset List to the Pension Fund no later
than ten business days, or as soon thereafter as may be practicable, before September 1, 2022.
Upon receipt of a Certified Investment Asset List, you are directed to not purchase or sell assets
appearing on the Certified Investment Asset List. IPOPIF will retain sole fiduciary and statutory
responsibility for the management of Pension Fund investment assets included on the Certified
Investment Asset List beginning 8:30 AM central time on September 1, 2022.
Thank you for your attention to this letter. If you have any questions, you may contact Jeff Foerster
at 815-363-2108.
Sincerely,
Jeffery Foerster and Nicholas Clesen, Authorized Agents
Enclosure: Copy of Resolution Adopted by the Pension Fund Board of Trustees
EXHIBIT B
FORM OF NOTICE
July 19, 2022
James Schmidt
Investment Advisor Representative
LPL Financial, Cornerstone Wealth Management RIA
3507 W Elm St
McHemy, IL 60050
Re: Transfer of Investment Assets to the Police Officers' Pension Investment Fund
This letter is intended to notify you of the upcoming transfer of investment assets of McHenry
Police Pension Fund (the "Pension Fund") to the Police Officers' Pension Investment Fund
("IPOPIF") on September 1, 2022.
Public Act 101-610, which took effect on January 1, 2020, requires this transfer of assets. IPOPIF
has notified the Pension Fund the transfer will occur on September 1, 2022. The Board of Trustees
of the Pension Fund adopted a resolution to effectuate the transfer, a copy of which is enclosed
with this notice.
You are directed to assist the Pension Fund and IPOPIF in this transfer. IPOPIF has retained State
Street Bank and Trust as its custodian. State Street must receive all assets included on a Certified
Investment Asset List on the Transfer Date. You shall provide IPOPIF and State Street Bank and
Trust with regular information on investment assets that includes, but is not limited to, custody
statements, holdings and transaction data, and investment reports.
IPOPIF will prepare and transmit a Certified Investment Asset List to the Pension Fund no later
than ten business days, or as soon thereafter as may be practicable, before September 1, 2022.
Upon receipt of a Certified Investment Asset List, you are directed to not purchase or sell assets
appearing on the Certified Investment Asset List. IPOPIF will retain sole fiduciary and statutory
responsibility for the management of Pension Fund investment assets included on the Certified
Investment Asset List beginning 8:30 AM central time on September 1, 2022.
Thank you for your attention to this letter. If you have any questions, you may contact Jeff Foerster
at 815-363-2108.
Sincerely,
Jeffery Foerster and Nicholas Clesen, Authorized Agents
Enclosure: Copy of Resolution Adopted by the Pension Fund Board of Trustees
`ARTICLE 3 AND ARTICLE 4'
Pension Trustee Certification
All elected and appointed Article 3 (Police) and Article 4 (Firefighters) local pension
board trustees are required to participate in state -mandated trustee certification training
that consists of at least 16 hours in their first year as a trustee. In addition, trustees must
complete a minimum of eight hours of continuing trustee education annually thereafter.
The Illinois Municipal League provides
this certification training at no charge to all trustees.
More information is available at iml.org/pensiontrustees.
This training is provided online and in accordance with statutory requirements.
in
partnership
with
ILLINOIS MUNICIPAL LEAGUE
E�sTERN
LLLI N0I_S
UNI\1ERSITI'
If you have questions regarding Article 3 or Article 4 pension trustee certification,
please contact us by email at pensiontrustees@iml.org.
All elected and appointed Article 3 (Police) and Article 4 (Firefighters) local pension board trustees are
required to participate in state -mandated trustee certification training.
WHAT IS THE FIRST YEAR CERTIFICATION REQUIREMENT?
The trustee certification training requirement for a first year trustee is at least 16 hours.
WHAT IS THE ANNUAL CERTIFICATION REQUIREMENT?
Annually, all trustees must complete a minimum of eight hours of continuing trustee education.
WHERE CAN TRUSTEES RECEIVE THEIR TRAINING?
The Illinois Municipal League provides this certification training at no charge to all trustees.
More information is available at iml.org/pensiontrustees.
Trustee certification training is provided online and in accordance with all statutory
requirements. If you have questions regarding pension trustee certification, please
contact us by email at pensiontrustees@iml.org.
HOW MUCH DOES THE TRAINING COST?
$0. The Illinois Municipal League provides this certification training at no charge. Really — it's free = no charge.
WHAT ARE SOME TRUSTEE EDUCATION TOPICS?
• Articles 3 and 4 Pension Disability Pension Overview
• Duties and Ethical Obligations of a Pension Fund Fiduciary
• Board Oversight of Cyber Risk: Before a Breach
• Illinois Public Employee Disability Act and Public Safety Employee Benefits Act
• Developments and Potential Changes in Federal and Illinois Labor and Employment Laws
• Qualified Domestic Relations Order
• Pension Plan Funding 101
• Pension Plan Assumptions 101
• Freedom of Information Act and Open Meetings Act
• Cyber Security Best Practices
• Managing Generational Differences and Unconscious Bias in the Workplace
• How to Identify, Address and Prevent Sexual Harassment and Discrimination
• Let Me Ask You a Question
E�STEI�N ILLINOIS UNIVERSITY in partnership with
500 East (apical Avenue � P.O. Box 5180 � Springfield, IL 62705.5180 � Ph: 217.525.1220 � Fx: 211.525.7438 1 iml.org
EXHIBIT A
RESOLUTION APPOINTING AUTHORIZED AGENTS
No. 2022-2
WHEREAS, the McHenry Police Pension Fund (the "Pension Fund") is established
pursuant to Article 3 of the Illinois Pension Code; and
WHEREAS, Public Act 101-610 established the Police Officers' Pension Investment Fund
("IPOPIF") to take custody of, manage, and invest reserves, funds, assets, securities, and monies of
the Pension Fund (hereinafter the "Pension Fund Assets"); and
WHEREAS, the Pension Fund is required to transfer its Pension Fund Assets identified on a
certified investment asset list (hereinafter the "Investment Assets") to IPOPIF in accordance with
Section 22B-120 of the Illinois Pension Code; and
WHEREAS, pursuant to Section 22B-120(d) of the Pension Code, IPOPIF has notified the
Pension Fund of IPOPIF's intent to assume fiduciary control of the Investment Assets as
of September 1, 2022 (the "Transfer Date"), on which date IPOPIF will assume such control and
the Pension Fund will cease to exercise fiduciary responsibility with respect to the Investment
Assets;
NOW THEREFORE, BE IT RESOLVED by the Board of Trustees of the Pension Fund,
acting pursuant to Sections 3-132.1 and 22B-120 of the Illinois Pension Code, IPOPIF Rule
2021-03, and other applicable laws and rules, as follows:
Section l: The above recitals are incorporated by reference as if fully stated herein.
Section 2: The following persons are appointed as the Pension Fund's Authorized Agents:
Jeffery Foerster Nicholas Clesen
Name:
Mailing
Address: 418 Kensington Drive
City:
McHenry
State, Zip Code: IL, 60050
815-236-6438
Phone:
Email: jfoerster57@comcast.net
Name:
Mailing 409 Newcastle Drive
Address:
City:
Cary
IL, 60013
State, Zip Code:
815-363-2200
Phone:
Email: nclesen@cityofmchenry.org
Section 3: Each Authorized Agent is authorized to execute, deliver, and perform on behalf
of the Pension Fund all agreements, certificates, notices, and other instruments necessary or advisable
to diligently and timely effectuate the transfer of the Pension Fund's Investment Assets as of the
Transfer Date in accordance with rules and directions of IPOPIF.
Section 4: The Pension Fund grants each authorized signer on any accounts held by the
Pension Fund the authority to execute, deliver, and perform on behalf of the Pension Fund all
agreements, certificates, notices, and other instruments necessary or advisable to diligently and timely
effectuate the transfer of the Pension Fund's Investment Assets as of the Transfer Date in accordance
with direction from either of the Pension Fund's Authorized Agents.
Section 5: The Authorized Agents shall notify all custodians and entities with fiduciary
control of any portion of the Pension Fund of the upcoming transfer of the Investment Assets to
IPOPIF.
Section 6: Each Authorized Agent is authorized and directed to take such other actions
on behalf of the Pension Fund as may be required or advisable to carry out the purposes and intent of
this resolution and that any and all actions heretofore or hereafter taken by each Authorized Agent be
approved, ratified, and confirmed.
Section 7: A certified copy of this resolution be delivered to IPOPIF.
Section 8: This resolution shall supersede any resolution or motions, or parts of
resolutions or motions, in conflict with any part herein, and any such resolutions or motions, or part
thereof, are hereby repealed.
Section 9: If any section, paragraph or provision of this resolution shall be held to be
invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect any of the
remaining provisions of this resolution.
Section 10: The Board of Trustees of the Pension Fund reserves the right to revoke or
amend this resolution Appointing Authorized Agents at any time. Any such revocation or amendment
shall be in writing, adopted by resolution of the Board of Trustees of the Pension Fund, and a certified
copy of the same delivered to IPOPIF.
ADOPTED this 19th day of July, 2022 by a roll call vote as follows:
AYES:
NAYS:
ABSENT:
President, Board of Trustees
McHenry City Police Pension Fund
Police Pension Fund
ATTEST:
Pension Fund Board Secretary
STATE OF ILLINOIS
COUNTY OF
SS
SECRETARY'S CERTIFICATE
I, Nicholas Clesen, the duly elected and acting Secretary of the Board of Trustees
A the McHenry Police Pension Fund, McHenry County, Illinois, do hereby certify
that attached hereto is a true and correct copy of a Resolution entitled:
RESOLUTION APPOINTING AUTHORIZED AGENTS
RESOLUTION N0.2022-2
which Resolution was duly adopted by said Board of Trustees at a meeting held on the 19th day of
July, 2022
I do further certify that a quorum of said Board of Trustees was present at said meeting,
and that the Board of Trustees complied with all the requirements of the Illinois Open Meetings Act,
July, 2022
IN WITNESS WHEREOF, I have hereunto set my hand this 19th day of
Secretary, Board of Trustees
McHenry City Police Pension Fund
Police Pension Fund
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
DATE:
TO:
FROM:
RE:
June 29, 2022
Certain Article 3 Police Pension Funds (“Transferor Pension Funds”)
Richard White, Executive Director
Reassignment of Transfer Date
Dear Transferor Pension Fund:
This letter is being sent to all Illinois Article 3 police pension funds that have delayed the
transfer of investment assets to the Illinois Police Officers’ Pension Investment Fund
(IPOPIF).
All delayed funds are being reassigned to a Transfer Date of August 1, September 1, October
3, or November 1, 2022, as detailed in the attached transfer schedule.
This letter will serve as the notification of the Transfer Date for the transition of assets from
the Article 3 fund to the Consolidated Police Fund.
In order to comply with the consolidation statute and to minimize transition costs and risks, a
postponement of the transfer date will not be feasible. Reassignments of dates will not be
considered.
We emphasize that IPOPIF requires that Authorized Agent appointments and investment data
feeds be established at least one month prior to the Transfer Date. Previous communications
have detailed the transfer process and requirements. A summary “Road Map” of the process is
attached for your reference.
Please review the IPOPIF website (www.ipopif.org) for additional information about the
Consolidated Police Fund. The Communications Page contains information, such as the
Frequently Asked Questions – Transfer of Assets, about the consolidation process, required
exhibits for the transfer of assets, and cash management procedures.
Please direct any questions to info@ipopif.org or 331-472-1080.
Thank you and we look forward to working with you on the transition and in the future.
Richard White, Executive Director
Illinois Police Officers’ Pension Investment Fund
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
ARTICLE 3 POLICE PENSION FUNDS
TRANCHE DATE ASSIGNMENTS
EFFECTIVE: JUNE 29, 2022
Article 3 Fund Transfer Date
ALSIP POLICE PENSION FUND August 1, 2022
ALTON POLICE PENSION FUND September 1, 2022
ANNA POLICE PENSION FUND August 1, 2022
BARTONVILLE POLICE PENSION FUND August 1, 2022
BATAVIA POLICE PENSION FUND August 1, 2022
BEARDSTOWN POLICE PENSION FUND August 1, 2022
BELLEVILLE POLICE PENSION FUND September 1, 2022
BELLWOOD POLICE PENSION FUND August 1, 2022
BENSENVILLE POLICE PENSION FUND September 1, 2022
BERWYN POLICE PENSION FUND September 1, 2022
BETHALTO POLICE PENSION FUND October 3, 2022
BOLINGBROOK POLICE PENSION FUND October 3, 2022
BOURBONNAIS POLICE PENSION FUND November 1, 2022
BRADLEY POLICE PENSION FUND September 1, 2022
BRAIDWOOD POLICE PENSION FUND October 3, 2022
BROADVIEW POLICE PENSION FUND October 3, 2022
BROOKFIELD POLICE PENSION FUND September 1, 2022
BURBANK POLICE PENSION FUND August 1, 2022
BURR RIDGE POLICE PENSION FUND August 1, 2022
CAHOKIA HEIGHTS POLICE PENSION FUND October 3, 2022
CALUMET CITY POLICE PENSION FUND September 1, 2022
CALUMET PARK POLICE PENSION FUND September 1, 2022
CAMPTON HILLS POLICE PENSION FUND November 1, 2022
CANTON POLICE PENSION FUND September 1, 2022
CARBONDALE POLICE PENSION FUND September 1, 2022
CAROL STREAM POLICE PENSION FUND August 1, 2022
CARPENTERSVILLE POLICE PENSION FUND September 1, 2022
CARTERVILLE POLICE PENSION FUND November 1, 2022
CASEYVILLE POLICE PENSION FUND September 1, 2022
CENTRALIA POLICE PENSION FUND October 3, 2022
CHATHAM POLICE PENSION FUND October 3, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
CHERRY VALLEY POLICE PENSION FUND August 1, 2022
CHESTER POLICE PENSION FUND November 1, 2022
COAL CITY POLICE PENSION FUND November 1, 2022
COLLINSVILLE POLICE PENSION FUND October 3, 2022
COLUMBIA POLICE PENSION FUND October 3, 2022
COUNTRYSIDE POLICE PENSION FUND October 3, 2022
CREST HILL POLICE PENSION FUND August 1, 2022
CRESTWOOD POLICE PENSION FUND October 3, 2022
CREVE COEUR POLICE PENSION FUND October 3, 2022
DANVILLE POLICE PENSION FUND September 1, 2022
DARIEN POLICE PENSION FUND August 1, 2022
DECATUR POLICE PENSION FUND September 1, 2022
DES PLAINES POLICE PENSION FUND September 1, 2022
DIXON POLICE PENSION FUND September 1, 2022
DOLTON POLICE PENSION FUND October 3, 2022
DOWNERS GROVE POLICE PENSION FUND September 1, 2022
DUQUOIN POLICE PENSION FUND October 3, 2022
EAST DUNDEE POLICE PENSION FUND August 1, 2022
EAST MOLINE POLICE PENSION FUND August 1, 2022
EAST PEORIA POLICE PENSION FUND October 3, 2022
EAST ST LOUIS POLICE PENSION FUND September 1, 2022
EDWARDSVILLE POLICE PENSION FUND September 1, 2022
ELBURN POLICE PENSION FUND October 3, 2022
ELK GROVE VILLAGE POLICE PENSION FUND September 1, 2022
ELMWOOD PARK POLICE PENSION FUND October 3, 2022
EUREKA POLICE PENSION FUND August 1, 2022
EVERGREEN PARK POLICE PENSION FUND September 1, 2022
FAIRVIEW HEIGHTS POLICE PENSION FUND November 1, 2022
FLORA POLICE PENSION FUND October 3, 2022
FOREST PARK POLICE PENSION FUND September 1, 2022
FOREST VIEW POLICE PENSION FUND October 3, 2022
FOX RIVER GROVE POLICE PENSION FUND November 1, 2022
FRANKLIN PARK POLICE PENSION FUND September 1, 2022
GILBERTS POLICE PENSION FUND October 3, 2022
GLEN CARBON POLICE PENSION FUND November 1, 2022
GLENDALE HEIGHTS POLICE PENSION FUND September 1, 2022
GLENVIEW POLICE PENSION FUND August 1, 2022
GLENWOOD POLICE PENSION FUND November 1, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
GRANITE CITY POLICE PENSION FUND September 1, 2022
GRAYSLAKE POLICE PENSION FUND August 1, 2022
GREENVILLE POLICE PENSION FUND September 1, 2022
HAMPSHIRE POLICE PENSION FUND August 1, 2022
HANOVER PARK POLICE PENSION FUND September 1, 2022
HARRISBURG POLICE PENSION FUND October 3, 2022
HARVARD POLICE PENSION FUND October 3, 2022
HARVEY POLICE PENSION FUND September 1, 2022
HARWOOD HEIGHTS POLICE PENSION FUND August 1, 2022
HAWTHORN WOODS POLICE PENSION FUND August 1, 2022
HERRIN POLICE PENSION FUND November 1, 2022
HICKORY HILLS POLICE PENSION PLAN October 3, 2022
HIGHLAND PARK POLICE PENSION FUND September 1, 2022
HIGHLAND POLICE PENSION FUND November 1, 2022
HILLSIDE POLICE PENSION FUND August 1, 2022
HINSDALE POLICE PENSION FUND September 1, 2022
HODGKINS POLICE PENSION FUND September 1, 2022
HOFFMAN ESTATES POLICE PENSION FUND September 1, 2022
HOOPESTON POLICE PENSION FUND October 3, 2022
ITASCA POLICE PENSION FUND November 1, 2022
JACKSONVILLE POLICE PENSION FUND October 3, 2022
JERSEYVILLE POLICE PENSION FUND September 1, 2022
JOLIET POLICE PENSION FUND November 1, 2022
JUSTICE POLICE PENSION FUND August 1, 2022
KANKAKEE POLICE PENSION FUND September 1, 2022
KEWANEE POLICE PENSION FUND October 3, 2022
LAGRANGE PARK POLICE PENSION FUND October 3, 2022
LAKE VILLA POLICE PENSION FUND September 1, 2022
LAKEMOOR POLICE PENSION FUND August 1, 2022
LASALLE POLICE PENSION FUND October 3, 2022
LEMONT POLICE PENSION FUND August 1, 2022
LIBERTYVILLE POLICE PENSION FUND August 1, 2022
LINCOLN POLICE PENSION FUND October 3, 2022
LITCHFIELD POLICE PENSION FUND September 1, 2022
LOCKPORT POLICE PENSION FUND August 1, 2022
LOMBARD POLICE PENSION FUND August 1, 2022
LOVES PARK POLICE PENSION FUND September 1, 2022
LYNWOOD POLICE PENSION FUND September 1, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
LYONS POLICE PENSION FUND October 3, 2022
MACOMB POLICE PENSION FUND October 3, 2022
MADISON POLICE PENSION FUND October 3, 2022
MAHOMET POLICE PENSION FUND October 3, 2022
MANHATTAN POLICE PENSION FUND November 1, 2022
MANTENO POLICE PENSION FUND August 1, 2022
MARENGO POLICE PENSION FUND September 1, 2022
MARION POLICE PENSION FUND November 1, 2022
MARSEILLES POLICE PENSION FUND October 3, 2022
MARYVILLE POLICE PENSION FUND November 1, 2022
MASCOUTAH POLICE PENSION FUND October 3, 2022
MAYWOOD POLICE PENSION FUND October 3, 2022
MCHENRY POLICE PENSION FUND September 1, 2022
MELROSE PARK POLICE PENSION FUND August 1, 2022
MENDOTA POLICE PENSION FUND August 1, 2022
METROPOLIS POLICE PENSION FUND October 3, 2022
MIDLOTHIAN POLICE PENSION FUND August 1, 2022
MILAN POLICE PENSION FUND October 3, 2022
MINOOKA POLICE PENSION FUND November 1, 2022
MONEE POLICE PENSION FUND August 1, 2022
MONMOUTH POLICE PENSION FUND October 3, 2022
MONTICELLO POLICE PENSION FUND November 1, 2022
MORRIS POLICE PENSION FUND October 3, 2022
MORTON GROVE POLICE PENSION FUND September 1, 2022
MORTON POLICE PENSION FUND November 1, 2022
MT CARMEL POLICE PENSION FUND November 1, 2022
MT PROSPECT POLICE PENSION FUND August 1, 2022
MT VERNON POLICE PENSION FUND September 1, 2022
MUNDELEIN POLICE PENSION FUND August 1, 2022
MURPHYSBORO POLICE PENSION FUND September 1, 2022
NEW LENOX POLICE PENSION FUND October 3, 2022
NORMAL POLICE PENSION FUND October 3, 2022
NORTH AURORA POLICE PENSION FUND October 3, 2022
NORTH RIVERSIDE POLICE PENSION FUND September 1, 2022
NORTHLAKE POLICE PENSION FUND August 1, 2022
OAK BROOK POLICE PENSION FUND September 1, 2022
OAK FOREST POLICE PENSION FUND September 1, 2022
OAKBROOK TERRACE POLICE PENSION FUND August 1, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
O'FALLON POLICE PENSION FUND August 1, 2022
OLYMPIA FIELDS POLICE PENSION FUND October 3, 2022
OSWEGO POLICE PENSION FUND September 1, 2022
PALATINE POLICE PENSION FUND August 1, 2022
PALOS PARK POLICE PENSION FUND September 1, 2022
PANA POLICE PENSION FUND October 3, 2022
PARIS POLICE PENSION FUND September 1, 2022
PARK FOREST POLICE PENSION FUND August 1, 2022
PARK RIDGE POLICE PENSION FUND September 1, 2022
PEKIN POLICE PENSION FUND September 1, 2022
PEORIA HEIGHTS POLICE PENSION FUND October 3, 2022
PEORIA POLICE PENSION FUND August 1, 2022
PERU POLICE PENSION FUND October 3, 2022
PLAINFIELD POLICE PENSION FUND September 1, 2022
PONTOON BEACH POLICE PENSION FUND October 3, 2022
POSEN POLICE PENSION FUND November 1, 2022
PRINCETON POLICE PENSION FUND August 1, 2022
RICHTON PARK POLICE PENSION FUND September 1, 2022
RIVER FOREST POLICE PENSION FUND October 3, 2022
RIVER GROVE POLICE PENSION FUND September 1, 2022
RIVERDALE POLICE PENSION FUND August 1, 2022
RIVERSIDE POLICE PENSION FUND August 1, 2022
ROBBINS POLICE PENSION FUND October 3, 2022
ROCK FALLS POLICE PENSION FUND October 3, 2022
ROCKTON POLICE PENSION FUND September 1, 2022
ROSCOE POLICE PENSION FUND August 1, 2022
ROUND LAKE BEACH POLICE PENSION FUND September 1, 2022
ROUND LAKE PARK POLICE PENSION FUND August 1, 2022
ROUND LAKE POLICE PENSION FUND November 1, 2022
SALEM POLICE PENSION FUND November 1, 2022
SAUK VILLAGE POLICE PENSION FUND September 1, 2022
SCHAUMBURG POLICE PENSION FUND September 1, 2022
SCHILLER PARK POLICE PENSION FUND October 3, 2022
SHILOH POLICE PENSION FUND November 1, 2022
SOUTH BARRINGTON POLICE PENSION FUND November 1, 2022
SOUTH ELGIN POLICE PENSION FUND August 1, 2022
SOUTH HOLLAND POLICE PENSION FUND August 1, 2022
SPRING GROVE POLICE PENSION FUND September 1, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
SPRING VALLEY POLICE PENSION FUND October 3, 2022
SPRINGFIELD POLICE PENSION FUND August 1, 2022
ST CHARLES POLICE PENSION FUND September 1, 2022
STAUNTON POLICE PENSION FUND November 1, 2022
STEGER POLICE PENSION FUND October 3, 2022
STERLING POLICE PENSION FUND September 1, 2022
STICKNEY POLICE PENSION FUND October 3, 2022
STONE PARK POLICE PENSIONFUND October 3, 2022
SUMMIT POLICE PENSION FUND August 1, 2022
SWANSEA POLICE PENSION FUND November 1, 2022
SYCAMORE POLICE PENSION FUND September 1, 2022
TINLEY PARK POLICE PENSION FUND August 1, 2022
TROY POLICE PENSION FUND November 1, 2022
UNIVERSITY PARK POLICEMENS PENSION FUND November 1, 2022
URBANA POLICE PENSION FUND September 1, 2022
VENICE POLICE PENSION FUND October 3, 2022
VERNON HILLS POLICE PENSION FUND September 1, 2022
WARRENVILLE POLICE PENSION FUND October 3, 2022
WASHINGTON PARK POLICE PENSION FUND September 1, 2022
WASHINGTON POLICE PENSION FUND September 1, 2022
WATERLOO POLICE PENSION FUND October 3, 2022
WAUKEGAN POLICE PENSION FUND September 1, 2022
WEST CHICAGO POLICE PENSION FUND October 3, 2022
WEST DUNDEE POLICE PENSION FUND October 3, 2022
WEST FRANKFORT POLICE PENSION FUND November 1, 2022
WESTCHESTER POLICE PENSION FUND November 1, 2022
WHEATON POLICE PENSION FUND August 1, 2022
WHEELING POLICE PENSION FUND August 1, 2022
WILLOW SPRINGS POLICE PENSION FUND October 3, 2022
WILLOWBROOK POLICE PENSION FUND November 1, 2022
WILMINGTON POLICE PENSION FUND October 3, 2022
WINFIELD POLICE PENSION FUND October 3, 2022
WINTHROP HARBOR POLICE PENSION FUND November 1, 2022
WOOD RIVER POLICE PENSION FUND October 3, 2022
WORTH POLICE PENSION FUND September 1, 2022
YORKVILLE POLICE PENSION FUND November 1, 2022
ZION POLICE PENSION FUND August 1, 2022
IPOPIF
ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND
NOTE: Per the Order of the Circuit Court dated June 27,2022, enforcement of Public Act 101-
0610 as to Plaintiffs in the case is hereby stayed….but no Plaintiff is precluded from voluntarily
compliance with Public Act 101-0610.
Art. 3
fund
ILLINOIS
Adopt the Resolution Appointing Authorized Agents (Exhibit A).
Article 3 fund successfully transferred assets and onboarded to IPOPIF
Please refer to the IPOPIF website for additional information including Frequently Asked Questions and a library of
communications related to the asset transition. Specific questions can be directed to info@ipopif.org or 331 -472-1080.
Art. 3
fund
ILLINOIS Email an executed copy of the resolution and the Secretary’s Certificate, to the IPOPIF at
info@ipopif.org.
Art. 3
fund
ILLINOIS Authorized agents send a form of notice (Exhibit B) to all custodians and other entities with
fiduciary control of any portion of the fund’s assets.
Art. 3
fund
ILLINOIS Ensure custodian and investment service providers respond to requests from IPOPIF
custodian, State Street, for asset holding files and adhere to asset transfer instructions.
IPOPIF must be in receipt of Exhibit A and have recent investment holding information for
asset transfer to occur.IPOPIF
IPOPIF sends Delivery Letter, Certified Investment Asset List (CIAL) and Letter of Direction
(LOD) to fund. IPOPIF
Authorized signer is required to sign the LOD and deliver to the fund’s custodian(s).Art. 3
fund
ILLINOIS
Upon receipt of the CIAL, fund may not purchase or sell any assets included on the list. Art. 3
fund
ILLINOIS
Art. 3
fund
ILLINOIS Take all reasonable steps to assist IPOPIF in converting non-transferable assets to
transferrable assets.
The IPOPIF shall promptly and prudently transfer all such pension fund assets on the
transfer date. IPOPIF
On transfer date, statutory and fiduciary responsibility fund assets on the CIAL shift to
IPOPIF. IPOPIF
IPOPIF delivers a receipt confirming the transfer of assets to the Article 3 fund.IPOPIF
Prepare for cash management needs by submitting an Account Access form to
cashinstructions@ipopif.orgArt. 3
fund
ILLINOIS
Road Map for Article 3 Pension Funds Transferring Assets to the
Illinois Police Officers’ Pension Investment Fund
Article 3 fund initiates asset transfer process