HomeMy WebLinkAboutMinutes - 10/11/2022 - Police Pension BoardPolice Pension Board of Trustees
Regular Meeting Minutes
October 11, 2022
Call to Order
The regular meeting of the City of McHenry Police Pension Board of Trustees was called to order at 9:06
a.m. at McHenry City Hall, 333 S Green St, McHenry, IL.
Roll call:
Members present: President Jeffery Foerster, Sergeant Nick Clesen, Cheryl Kranz Members absent:
Officer Robert Beaudoin, Thomas Settles. Others present: Monte Johnson, Carolyn Lynch.
Public Input:
No members of the public were present to offer comments.
Approve the July 19, 2022, meeting minutes
A motion was made by Sergeant Clesen and seconded by Cheryl Kranz to approve the minutes from July
19, 2022. Roll Call Vote: 3-ayes: Jeff Foerster, Sergeant Clesen, Cheryl Kranz. 2-absent: Officer
Beaudoin, Thomas Settles. Motion carried.
Presentation and motion to approve the Treasurer’s Report
It was reported by President Foerster that we will not find out our numbers until later this month. The
funds transferred on September 1, 2022, and there is no treasurer’s report to vote on or approve.
Semi-annual review of Police Pension Fund Investment Policy
There was discussion if we still needed a policy or if it needed changed since all of the investments are
now with the IPPFA. We will check with the Pension Board’s attorney to see if anything needs to be
done with the policy.
Approval of the 2022 Police Pension board schedule
The schedule calls for 9:00 a.m. meetings on January 10, April 11, July 11, and October 10, all of 2023.
No members had issues with any of the stated dates. A motion was made by Cheryl Kranz and seconded
by Sergeant Clesen to approve the 2022 Police Pension board schedule as presented. Roll Call Vote: 3-
ayes: Jeff Foerster, Sergeant Clesen, Cheryl Kranz. 2-absent: Officer Beaudoin, Thomas Settles. Motion
carried.
Approve the payment of bills
Jeff Foerster listed the three bills that we have received that need paid. Those bills come from the IPPFA
membership dues, the advisory CD for Jim Schmidt through the end of August, and the work on the
fiduciary liability policy. A motion was made by Sergeant Clesen and seconded by Cheryl Kranz to
approve the payment of bills as presented. Roll Call Vote: 3-ayes: Jeff Foerster, Sergeant Clesen, Cheryl
Kranz. 2-absent: Officer Beaudoin, Thomas Settles. Motion carried.
Approve the submission of the Enterprise Cash Flow Module and MyStateStreet.com Access Form
Jeff Foerster explained that this form states who can access the funds in the IPPFA. It was suggested that
Carolyn and Sergeant Clesen be the two with access since Sergeant Clesen is present in the building
during working hours. A motion was made by Cheryl Kranz and seconded by Sergeant Clesen to approve
having Carolyn Lynch and Sergeant Clesen be the two individuals with access to the IPPFA funds. Roll
Call Vote: 3-ayes: Jeff Foerster, Sergeant Clesen, Cheryl Kranz. 2-absent: Officer Beaudoin, Thomas
Settles. Motion carried.
Presentation of Actuarial Valuation Report and recommendation to forward Pension Fund Tax Levy
request to McHenry City Council
Nobody from Lauterbach & Amen was present for the meeting to give the presentation. After a phone
call to the firm, and with discussion from the Board, it was decided to hold a special meeting on
Tuesday, October 18th, at 8:30 a.m. for the presentation.
Motion to Adjourn
A motion was made by Sergeant Clesen and seconded by Cheryl Kranz to adjourn at 9:42 a.m. Roll Call
Vote: 3-ayes: Jeff Foerster, Sergeant Clesen, Cheryl Kranz. 2-absent: Officer Beaudoin, Thomas Settles.
Motion carried.
______________________________
Monte Johnson, Recording Secretary