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Agenda Packet - 07/31/2020 - Firefighter's Pension Fund Board
VILLAGE OF OAK BROOK BOARD OF TRUSTEES, FIREFIGHTERS’ PENSION FUND WEST WING CONFERENCE ROOM OF THE BUTLER GOVERNMENT CENTER 1200 OAK BROOK ROAD OAK BROOK, IL 60523 630-368-5000 In accordance with the provisions of the Americans with Disabilities Act, any individual who is in the need of a reasonable accommodation in order to participate in or benefit from attendance at this public meeting should contact the Butler Government Center (Village Hall), at (630) 368-5010, or for TDD response (630) 990-2131, as soon as possible before the meeting date. NOTICE OF A REGULAR MEETING OF THE OAK BROOK FIREFIGHTERS’ PENSION FUND BOARD OF TRUSTEES The Oak Brook Firefighters’ Pension Fund Board of Trustees will conduct a regular meeting on Friday, July 31, 2020 at 8:00 a.m. in the West Wing Conference Room of the Butler Government Center, located at 1200 Oak Brook Road, Oak Brook, Illinois 60523, for the purposes set forth in the following agenda: AGENDA 1. Call to Order 2. Roll Call 3. Trustee Continuing Education Session: 8:00 a.m. – 9:00 a.m. 4. Public Comment – Limited to 3 minutes per person 5. Swearing In of New Trustee – Kevin Tan 6. Approval of Meeting Minutes a. April 28, 2020 Regular Meeting 7. Investment Report – Sawyer Falduto Asset Management, LLC a. Quarterly Investment Performance Report b. Review/Update Investment Policy 8. Accountant’s Report – Lauterbach & Amen, LLP a. Monthly Financial Report b. Presentation and Approval of Bills c. Additional Bills, if any 9. Trustee Training Updates a. Approval of Trustee Training Registration Fees and Reimbursable Expenses 10. Communications and Reports a. Active Member File Maintenance 11. Applications for Membership/Withdrawals from the Fund a. Application for Membership – Seth Bowlan 12. Applications for Retirement/Disability Benefits 13. Old Business a. IDOI Annual Statement 14. New Business a. Review/Approve – Actuarial Valuation and Municipal Contribution Request b. Review/Adopt – Municipal Compliance Report c. Board Officer Elections – President and Secretary d. FOIA Officer and OMA Designee 15. Attorney’s Report – Reimer & Dobrovolny PC a. Annual Independent Medical Examination – Jennifer White b. Legal Updates 16. Closed Session, if needed 17. Adjournment 1 of 61 DRAFTVILLAGE OF OAK BROOK BOARD OF TRUSTEES, FIREFIGHTERS’ PENSION FUND WEST WING CONFERENCE ROOM OF THE BUTLER GOVERNMENT CENTER 1200 OAK BROOK ROAD OAK BROOK, IL 60523 630-368-5000 MINUTES OF A REGULAR MEETING OF THE OAK BROOK FIREFIGHTERS’ PENSION FUND BOARD OF TRUSTEES APRIL 28, 2020 A regular meeting of the Oak Brook Firefighters’ Pension Fund Board of Trustees was held via teleconference in accordance with Section 5 of Governor Pritzker’s Executive Order 2020-18 (COVID-19 Executive Order No.16)on Tuesday, April 28, 2020 at 9:00 a.m. pursuant to notice.Meeting access information was provided to the public on the corresponding Board meeting agenda. CALL TO ORDER: President Fagan called the meeting to order at 9:00 a.m. ROLL CALL: PRESENT: President John Fagan,Secretary Gino Picciola, Trustee Jim Bodony, Trustee Timothy Schlindwein and Trustee Kevin Tan ABSENT: None ALSO PRESENT: Finance Director Jason Paprocki, Village of Oak Brook;Tom Sawyer, Sawyer Falduto Asset Management,LLC;Jennifer Flores,Lauterbach & Amen, LLP (L&A) TRUSTEE CONTINUING EDUCATION SESSION:Trustees Bodony, Fagan, Picciola, Schlindwein and Tan attended a one-hour Trustee training education course from 8:00 a.m. to 9:00 a.m. presented by Sawyer Falduto Asset Management. PUBLIC COMMENT: There was no public comment. SWEARING IN OF NEW TRUSTEE: This item was tabled until the next regular meeting. APPROVAL OF MEETING MINUTES: October 31, 2019 Regular Meeting: The Board reviewed the amended October 31, 2019 regular meeting minutes. A motion was made by Trustee Fagan and seconded by Trustee Picciola to approve the October 31, 2019 regular meeting minutes as written. Motion carried unanimously by voice vote. January 29, 2020 Regular Meeting: The Board reviewed the January 29, 2020 regular meeting minutes. A motion was made by Trustee Fagan and seconded by Trustee Picciola to approve the January 29, 2020 regular meeting minutes as written. Motion carried unanimously by voice vote. Semi-Annual Review of Closed Session Meeting Minutes: There were no closed session meeting minutes for review. 2 of 61 DRAFTOak Brook Firefighters’ Pension Fund Meeting Minutes – April 28, 2020 Page 2 of 4 INVESTMENT REPORT – SAWYER FALDUTO ASSET MANAGEMENT, LLC: Quarterly Investment Performance Report: Mr. Sawyer presented the Quarterly Investment Performance Report for the period ending March 31, 2020. As of March 31, 2020, the first quarter net return is (11.30%) versus the first quarter account benchmark of (12.25%). The investment return for the quarter is ($3,458,148) for an ending market value of $27,143,581. The current asset allocation is as follows: fixed income at 42%; equities at 57.7%; and cash equivalents at 0.3%. Mr. Sawyer reviewed the Market Commentary, Equity and Fixed Income Portfolios, Credit Rating Report and Transaction Ledger Report with the Board. A motion was made by Trustee Fagan and seconded by Trustee Bodony to accept the investment report as presented. Motion carried unanimously by voice vote. Review/Update Investment Policy: The Board reviewed the current investment policy. Mr. Sawyer provided proposed language to update the policy to comply with the Illinois Sustainable Investment Act. A motion was made by Trustee Fagan and seconded by Trustee Tan to accept the changes to the investment policy and allow Sawyer Falduto Asset Management LLC to implement the changes immediately. An updated investment policy will be available for signature at the next regular meeting. Motion carried unanimously by voice vote. The Board discussed making adjustments to the Bond Benchmark. A motion was made by Trustee Schlindwein and seconded by Trustee Fagan to implement the adjustments to the Bond Benchmark as recommended by Mr. Sawyer. Motion carried unanimously by voice vote. ACCOUNTANT’S REPORT – LAUTERBACH & AMEN, LLP: Monthly Financial Report: The Board reviewed the Monthly Financial Report for the three-month period ended March 31, 2020 prepared by L&A. As of March 31, 2020, the net position held in trust for pension benefits is $27,326,565.38 for a change in position of ($3,569,670.21). The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report and Payroll Journal. A motion was made by Trustee Fagan and seconded by Trustee Picciola to accept the Monthly Financial Report as presented. Motion carried unanimously by voice vote. Presentation and Approval of Bills: The Board reviewed the Vendor Check Report for the period January 1, 2020 through March 31, 2020, for total disbursements in the amount of $110,490.74. A motion was made by Trustee Fagan and seconded by Trustee Picciola to approve the disbursements shown on the Vendor Check Report in the amount of $110,490.74. Motion carried by roll call vote. AYES: Trustees Fagan, Picciola, Bodony, Schlindwein and Tan NAYES: None ABSENT: None Additional Bills, if any – Illinois Department of Insurance Compliance Fee: The Board noted that the Illinois Department of Insurance Compliance Fee will be issued. A motion was made by Trustee Fagan and seconded by Trustee Tan to approve payment of the IDOI Compliance Fee, upon receipt of the invoice. Motion carried by roll call vote. AYES: Trustees Fagan, Picciola, Bodony, Schlindwein and Tan NAYES: None ABSENT: None TRUSTEE TRAINING UPDATES: The Board reviewed the Trustee Training summary and discussed upcoming opportunities. Trustees were reminded to submit any certificates of completion to L&A for recordkeeping. 3 of 61 DRAFTOak Brook Firefighters’ Pension Fund Meeting Minutes – April 28, 2020 Page 3 of 4 Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training registrations or reimbursable expenses presented for approval. COMMUNICATIONS AND REPORTS: Statements of Economic Interest: The Board was reminded that the Statements of Economic Interest are due by May 1, 2020. APPLICATIONS FOR MEMBERSHIP/ WITHDRAWALS FROM THE FUND: There were no applications for membership or withdrawals from the Fund. APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Approve Regular Retirement Benefit – Michael Erickson: The Board reviewed the regular retirement benefit calculation for Michael Erickson prepared by L&A. Lieutenant Erickson had an entry date of May 30, 2000, retirement date of May 30, 2020 effective date of pension of May 31, 2020, 54 years of age at date of retirement, 20 years of creditable service, applicable salary of $117,095.22 applicable pension percentage of 50%, amount of originally granted monthly pension of $4,878.97 and amount of originally granted annual pension of $58,547.64. A motion was made by Trustee Schlindwein and seconded by Trustee Fagan to approve Michael Erickson’s regular retirement benefit calculated by L&A. Motion carried by roll call vote. AYES: Trustees Fagan, Picciola, Bodony, Schlindwein and Tan NAYES: None ABSENT: None OLD BUSINESS: IDOI Annual Statement: The Board noted that the IDOI Annual Statement is in process and the final report will be sent to the Board for review upon completion. NEW BUSINESS: Certify Board Election Results – Active Member Position: L&A conducted an election for one of the active member positions on the Oak Brook Firefighters’ Pension Fund Board of Trustees. Gino Picciola ran unopposed and was reelected for a three-year term expiring April 30, 2023. A motion was made by Trustee Fagan and seconded by Trustee Schlindwein to certify the active member election results. Motion carried unanimously by voice vote. Mr. Paprocki left the meeting at 9:54 a.m. and rejoined the meeting at 10:10 a.m. Actuary Assumptions and Report - The Board reviewed the preliminary Actuarial Valuation prepared by Foster and Foster. A motion was made by Trustee Fagan and seconded by Trustee Bodony to accept the preliminary Actuarial Valuation as prepared. Motion carried by roll call vote. AYES: Trustees Fagan, Picciola, Bodony, Schlindwein and Tan NAYES: None ABSENT: None The Board reviewed the Fiduciary Liability Insurance renewal provided by Ullico Casualty Group, LLC through Mesirow Insurance Services, Inc. A motion was made by Trustee Fagan and seconded by Trustee Schlindwein to approve payment of the fiduciary liability insurance renewal effective April 30, 2020 through April 30, 2021 in the amount not to exceed $5,500. Motion carried by roll call vote. AYES: Trustees Fagan, Picciola, Bodony, Schlindwein and Tan NAYES: None ABSENT: None 4 of 61 DRAFTOak Brook Firefighters’ Pension Fund Meeting Minutes – April 28, 2020 Page 4 of 4 ATTORNEY’S REPORT – REIMER & DOBROVOLNY, PC: QILDRO – Matthew Bielawa: The Board noted that QILDRO documentation and the $50 processing fee were received for Matthew Bielawa. The documentation was reviewed by Reimer & Dobrovolony PC and the QILDRO has been placed on file for execution upon his retirement. A motion was made by Trustee Fagan and seconded by Trustee Bodony to accept the QILRDO as prepared. Motion carried unanimously by voice vote. Legal Updates: The Board reviewed the Legal and Legislative Update quarterly newsletter. CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Fagan and seconded by Trustee Schlindwein to adjourn the meeting at 10:35 a.m. Motion carried unanimously by voice vote. The next regular meeting is scheduled for July 31, 2020 at 8:00 a.m. Board President or Secretary Approved by the Board of Trustees on _______________________ Minutes prepared by Jennifer Flores, Pension Services Administrator, Lauterbach & Amen, LLP 5 of 61 Quarterly Investment Performance Report June 30, 2020 Oak Brook Firefighters' Pension Fund Presented by: Thomas S. Sawyer, Managing Partner John J. Falduto, Managing Partner Edward J. Lavin, Chief Investment Officer David M. Harrington, Director of Portfolio Management Sawyer Falduto Asset Management, LLC 589 S. York Street Elmhurst, IL 60126 O: (630) 941-8560 F: (630) 941-8558 www.sawyerfalduto.com SFAM Page 1 of 23 6 of 61 Oak Brook Firefighters' Pension Fund June 30, 2020 INVESTMENT POLICY AND ASSET ALLOCATION GUIDELINES Portfolio Allocation Target Range Maximum Cash / Short Term 0% 0 - 10% 100% Fixed Income 40% 35 - 45% 100% Equity 60% 55 - 65% Per IL Statute Equity Allocation Target Range US Large Cap Stocks 70% 40 - 100% US Small Cap Stocks 20% 0 - 40% Foreign Securities 10% 0 - 20% Equity Benchmark Benchmark Weight S&P 500 Index 70% Russell 2000 Stock Index 20% Morgan Stanley Capital International EAFE 10% Blended Equity Benchmark - Total 100% Fixed Income Allocation Minimum Range Maximum US Treasury Bills/Notes/Bonds 0% 5 - 40% 100% US Government Agency (non-MBS) 0% 20 - 70% 75% US Government Agency (Callable) 0% 0 - 20% 30% US Government Agency (MBS) 0% 0 - 10% 15% Taxable Municipal Securities 0% 5 - 20% 30% Certificates of Deposit 0% 0 - 10% 20% Investment Grade Corporate Bonds 0% 5 - 20% 30% Fixed Income Benchmark Benchmark Weight Barclays US Treasury Intermediate 15% Barclays US Agency 7-10 Year 55% Barclays Taxable Municipal Intermediate 15% Barclays Corporate Intermediate 15% Blended Fixed Income Benchmark - Total 100% Cash / Short Term Benchmark Weight Morningstar Manager Taxable Money Mkt 100% SFAM Page 2 of 23 7 of 61 Oak Brook Firefighters' Pension Fund June 30, 2020 CASH FLOW AND PERFORMANCE REVIEW Long-Term Performance Periods Ending 6/30/2020 1 Year 3 Years 5 Years 10 Years Since Inception 6/30/2016 Total Account Return 6.64% 7.08% % % 8.19% Account Benchmark 6.09% 7.23% % % 8.06% Equity Return 4.10% 7.60% % % 10.61% Blended Equity Benchmark 3.43% 8.07% % % 10.86% Fixed Income Return 9.06% 5.44% % % 3.81% Blended Fixed Benchmark 8.75% 5.02% % % 3.17% Annualized returns for periods exceeding one year. All account performance and benchmark calculations include any change to asset allocation guidelines. Past performance is no guarantee of future returns. Unless otherwise noted, all investment results and performance are presented gross of investment advisor fees. Cash Flow Quarter 2 2020 Year-to-Date Beginning Market Value $27,143,581 $30,897,661 Contributions / Additions 556,629 1,022,935 Distributions / Expenses -779,750 -1,541,988 Adjusted Beginning Market Value 26,920,460 30,378,608 Ending Market Value $30,516,158 $30,516,158 Investment Return $3,595,698 $137,550 Performance Review Quarter 1 2020 Quarter 2 2020 Quarter 3 2020 Quarter 4 2020 Year-to-Date Total Account Return (Gross) -11.25% 13.22% % % 0.48% Total Account Return (Net) -11.30% 13.17% % % 0.38% Account Benchmark -12.25% 13.48% % % -0.42% Equity Return -21.41% 21.55% % % -4.47% Blended Equity Benchmark -22.17% 21.00% % % -5.82% 70% S&P 500 -19.60% 20.54% % % -3.08% 20% Russell 2000 -30.62% 25.42% % % -12.98% 10% MSCI EAFE -22.83% 14.88% % % -11.34% Fixed Income Return 5.05% 2.01% % % 7.16% Blended Fixed Benchmark 4.13% 2.79% % % 7.04% Cash Equivalent Return 0.22% 0.00% % % 0.23% M-Star Taxable MMF Index 0.26% 0.03% % % 0.29% SFAM Page 3 of 23 8 of 61 Portfolio Value vs. Cumulative Net Investment From 04/03/2016 to 06/30/2020 Oak Brook Firefighters' Pension Fund Portfolio Value Cumulative Net Investment Dollar Value Quarter Ending 10000000 20000000 30000000 40000000 04/03/2016 06/30/2016 09/30/2016 12/31/2016 03/31/2017 06/30/2017 09/30/2017 12/31/2017 03/31/2018 06/30/2018 09/30/2018 12/31/2018 03/31/2019 06/30/2019 09/30/2019 12/31/2019 03/31/2020 06/30/2020Period Contributions Cumulative Portfolio Investment Ending and Withdrawals Net Investment Value Gain 04/03/2016 12,489,768 12,489,768 12,489,768 0 06/30/2016 10,752,286 23,242,053 23,916,090 674,036 09/30/2016 -226,284 23,015,769 24,399,678 1,383,909 12/31/2016 -238,915 22,776,854 24,461,407 1,684,552 03/31/2017 189 22,777,043 25,427,107 2,650,064 06/30/2017 -160,792 22,616,251 25,967,000 3,350,749 09/30/2017 -276,370 22,339,881 26,546,594 4,206,712 12/31/2017 -195,932 22,143,949 27,289,348 5,145,398 03/31/2018 0 22,143,949 27,154,390 5,010,440 06/30/2018 118,172 22,262,121 27,794,660 5,532,538 09/30/2018 -347,795 21,914,327 28,176,007 6,261,680 12/31/2018 0 21,914,327 25,800,398 3,886,071 03/31/2019 0 21,914,327 28,145,594 6,231,268 06/30/2019 0 21,914,327 29,024,340 7,110,013 09/30/2019 17,357 21,931,684 29,347,556 7,415,872 12/31/2019 104,675 22,036,358 30,897,661 8,861,303 03/31/2020 -280,483 21,755,875 27,143,581 5,387,706 06/30/2020 -209,549 21,546,326 30,516,158 8,969,833 SFAM Page 4 of 23 9 of 61 Quarterly Market Commentary – June 30, 2020 June 30, 2020 Economic Overview 2Q 2020 Key Observations • Sharp equity market recovery reflected economic optimism. • Stimulus measures helped cushion the blow from the economic shut down. • The Federal Reserve has signaled interest rates will likely remain low through 2022. • Intervention from the Federal Reserve has created a perceived market “backstop”. • Unemployment surged especially in the leisure, travel and hospitality industries. • The pandemic continues to drive market volatility as medical developments evolve. • Momentum is building for a “U” shaped recovery anchored in 2021. Consistent Asset Allocation Remains Key • Portfolio diversification provides the foundation for long-term returns and risk management. • Fixed income provides a good balance to the more volatile equity markets. • “Investment Quilt” highlights investment performance for the equity and fixed income benchmarks. Equity and Fixed Income Benchmarks – Investment Performance – Last 2 Years Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 7.7% S&P 500 3.0% US Agency 14.6% Russell 2000 4.3% S&P 500 3.0% US Agency 9.9% Russell 2000 6.5% US Agency 25.4% Russell 2000 3.6% Russell 2000 2.2% US Treasury 13.6% S&P 500 4.0% US Agency 1.7% Corp Bonds 9.1% S&P 500 5.3% US Treasury 20.5% S&P 500 1.4% MSCI EAFE 2.2% Taxable Muni 10.0% MSCI EAFE 3.7% MSCI EAFE 1.7% S&P 500 8.2% MSCI EAFE 1.8% Taxable Muni 14.9% MSCI EAFE 0.8% Corp Bond 0.6% Corp Bond 3.8% Corp Bond 3.1% Corp Bond 1.4% Taxable Muni 1.1% Corp Bond -3.2% Corp Bond 7.6% Corp Bond 0.2% Taxable Muni -12.5% MSCI EAFE 3.3% US Agency 2.7% Taxable Muni 1.2% US Treasury 0.2% Taxable Muni -19.6% S&P 500 2.9% Taxable Muni -0.1% US Treasury -13.5% S&P 500 2.2% Taxable Muni 2.4% US Treasury -1.1% MSCI EAFE 0.0% US Treasury -22.8% MSCI EAFE 2.1% US Agency -0.2% US Agency -20.2% Russell 2000 1.6% US Treasury 2.1% Russell 2000 -2.4% Russell 2000 -0.7% US Agency -30.6% Russell 2000 0.5% US Treasury • S&P 500 produced an average quarterly return of 2.98% with a high volatility. • U.S. Treasury bonds averaged a quarterly return of 1.6% with limited volatility. • Taxable municipal bonds were the only asset class to produce positive returns for each quarter. • Corporate bonds offered portfolio stability by generating returns consistently in the middle range. SFAM Page 5 of 23 10 of 61 Quarterly Market Commentary – June 30, 2020 June 30, 2020 Equity Overview Market Performance • Equity indices rebounded sharply as market optimism was supported by a combination of economic stimulus measures, Federal Reserve actions and a gradual re-opening of local economies. • S&P 500 2Q total return of 20.54% is the best quarterly return since 4Q 1998. • U.S. large cap stocks have significantly outperformed U.S. small cap and international stocks on a year-to-date basis. Equity Portfolio Activity • The portfolio focus during 2Q was managing the upward trend in the equity portfolio allocation as a result of the stock market rebound. Overall, the equity allocation approach was driven during 2Q by market trends while being mindful of the target allocation. • We were comfortable being underweight the equity target allocation during periods of volatility and downward momentum. We purchased equities when volatility subsided and economic optimism provided a catalyst for positive performance. Market Index 1Q 2020 2Q 2020 YTD 2020 S&P 500 (U.S. Large Cap) -19.60% 20.54% -3.08% Russell 2000 (U.S. Small Cap) -30.61% 25.42% -12.98% EAFE (International) -22.83% 14.88% -11.34% SFAM Page 6 of 23 11 of 61 Quarterly Market Commentary – June 30, 2020 June 30, 2020 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 1 Mo 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 7 Yr 10 Yr 30 Yr U.S. Treasury Yield Curve 12/31/2018 12/31/2019 6/30/2020 Fixed Income Overview Market Observations • Minimal change in U.S. Treasury yields during 2Q. • U.S. Agencies added to strong 1Q performance with positive results in 2Q. • Taxable municipal bonds generated positive performance and continue to offer good value. • Corporate bonds posted strong performance results as economic optimism grew and investors continue to search for yield. Securities rated “BBB” were the best performing corporate bonds. U.S. Treasury Yield Curve • There were limited yield curve changes during 2Q with short maturity yields increasing slightly while yields between 2-years and 10-years decreased marginally. At quarter-end, the 2-year rate was 0.16% and the 10-year rate at 0.66%. Strong YTD Fixed Income Performance Fixed Income Indices 1Q 2020 Return 2Q 2020 Return YTD 2020 Return U.S. 10 Year Treasury 5.25% 0.54% 5.82% U.S. 10 Year Govt Agency 6.47% 2.08% 8.69% Taxable Municipal Bond 1.82% 2.89% 4.76% Investment Grade Corporate Bond -3.15% 7.63% 4.23% SFAM Page 7 of 23 12 of 61 Quarterly Market Commentary – June 30, 2020 June 30, 2020 Portfolio Overview & Considerations • Maintain target allocations for equity and fixed income portions of portfolios. • Low interest rates create a challenge replacing the yield from maturing fixed income securities. • Fixed income portfolio will continue to maintain a conservative duration position. • Equity returns may face headwinds from a slow economic recovery. • We will continue to accumulate cash during periods of heightened of volatility as a safety cushion. Looking Ahead • Personal safety is a key theme going forward – when will people trust their health is not at risk? - Work, air travel, hotels, restaurants, movies, sporting events, leisure activities. • Momentum is building for a “U” shaped economic recovery that is tied to COVID-19 developments. - A verified COVID-19 vaccine would provide support for rapid economic recovery. - Market volatility will persist as the economy deals with the ebb and flow of COVID-19 news. • U.S. unemployment trend will be a key measure of the economic recovery. • The potential for additional economic stimulus creates market optimism. • Reminder…China and U.S. trade relations pose downside economic risk. SFAM Page 8 of 23 13 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Portfolio Allocation Equities: 62.3% Fixed Income: 37.0% Cash Equivalent: 0.7% Current Current Annual Weight Description Symbol Quantity Value Yield Income Equities Large Cap Mutual Fund 2. 7%AQR Large Cap Defensive QUERX 36,477. 083 833,136. 58 1. 2%10,031. 20 4. 4%Hartford Core Equity Fund Y HGIYX 39,215. 4 1,332,539. 29 0. 9%11,764. 62 5. 8%Pioneer Equity Income PYEQX 57,004. 663 1,775,695. 25 0. 9%15,961. 31 14. 5%T Rowe Price Growth Stock PRUFX 55,208. 616 4,419,449. 71 0. 3%14,354. 23 14. 3%Vanguard 500 Index Fund VFIAX 15,205. 036 4,350,008. 75 2. 0%87,276. 89 41. 7%12,710,829. 58 1. 1%139,388. 24 Exchange Traded Fund 3. 1%Vanguard S&P 500 ETF VOO 3,354 950,624. 22 2. 0%19,229. 16 44. 8%13,661,453. 80 1. 2%158,617. 40 Mid Cap Mutual Fund 1. 6%Victory Sycamore VEVIX 14,596. 517 493,216. 31 1. 4%6,752. 23 Small Cap Mutual Fund 3. 6%Goldman Sachs Small Cap GCSIX 46,927. 964 1,091,075. 16 0. 6%7,011. 04 4. 0%T Rowe Price QM US Small-Cap TQAIX 32,632. 22 1,227,950. 44 0. 0%0. 00 2. 5%TIAA Cref Small Cap Index TISBX 42,416. 566 769,436. 51 1. 6%12,215. 98 10. 1%3,088,462. 11 0. 6%19,227. 01 International Mutual Fund 0. 9%First Eagle Overseas SGOIX 11,549. 103 263,435. 04 2. 5%6,571. 43 1. 4%Goldman Sachs International GCIIX 35,901. 632 414,304. 83 2. 8%11,456. 21 SFAM Page 9 of 23 14 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Equities International Mutual Fund 1. 4%MFS International Growth I MQGIX 11,096. 34 437,639. 65 0. 9%4,132. 94 0. 9%Oppenheimer Developing Markets ODVIX 6,782. 18 282,274. 33 0. 8%2,149. 27 4. 6%1,397,653. 85 1. 7%24,309. 86 Real Estate Mutual Fund 1. 3%Cohen & Steers Realty CSRIX 9,706. 102 381,643. 93 2. 7%10,404. 95 62. 3%19,022,430. 00 1. 2%219,311. 46 Fixed Income Taxable Bonds U. S. Treasury 0. 6%US Treas Note 9128285M8 150,000 181,265. 63 2. 6%4,687. 50 11/15/2028 3.125% Accrued Income 598. 68 0. 5%US Treas Note 912828M80 150,000 156,609. 38 1. 9%3,000. 00 11/30/2022 2.00% Accrued Income 254. 10 0. 3%US Treas Note 912828N30 100,000 104,875. 00 2. 0%2,125. 00 12/31/2022 2.125% Accrued Income 5. 77 0. 5%US Treas Note 912828R36 150,000 160,687. 50 1. 5%2,437. 50 05/15/2026 1.625% Accrued Income 311. 31 0. 3%US Treas Note 912828T91 100,000 104,750. 00 1. 6%1,625. 00 10/31/2023 1.625% Accrued Income 273. 78 0. 3%US Treas Note 912828WC0 100,000 100,515. 62 1. 7%1,750. 00 10/31/2020 1.75% Accrued Income 294. 84 0. 5%US Treas Note 912828WE6 150,000 162,890. 63 2. 5%4,125. 00 11/15/2023 2.75% Accrued Income 526. 83 0. 4%US Treas Note 912828X88 100,000 112,828. 12 2. 1%2,375. 00 05/15/2027 2.375% Accrued Income 303. 33 0. 4%US Treas Note 912828YQ7 100,000 107,406. 25 1. 5%1,625. 00 10/31/2026 1.625% Accrued Income 273. 78 3. 9%1,194,670. 55 2. 0%23,750. 00 U.S. Government Agency 0. 4%Fed Farm Cr Bk 3133EA6C7 100,000 110,486. 60 2. 3%2,500. 00 10/24/2025 2.50% Accrued Income 465. 28 0. 2%Fed Farm Cr Bk 3133EAE61 49,000 53,578. 27 2. 1%1,141. 70 08/01/2025 2.33% Accrued Income 475. 71 0. 7%Fed Farm Cr Bk 3133ECB60 200,000 223,747. 00 2. 3%5,140. 00 12/24/2026 2.57% Accrued Income 99. 94 SFAM Page 10 of 23 15 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Fixed Income Taxable Bonds U.S. Government Agency 0. 7%Fed Farm Cr Bk 3133ECJF2 200,000 202,273. 60 1. 8%3,540. 00 03/18/2021 1.77% Accrued Income 1,012. 83 0. 4%Fed Farm Cr Bk 3133ECN83 125,000 136,412. 63 2. 2%2,962. 50 05/01/2025 2.37% Accrued Income 493. 75 0. 2%Fed Farm Cr Bk 3133ED6M9 68,000 74,433. 21 2. 9%2,155. 60 11/06/2023 3.17% Accrued Income 329. 33 1. 1%Fed Farm Cr Bk 3133EEF47 300,000 330,768. 60 2. 2%7,410. 00 09/30/2025 2.47% Accrued Income 1,873. 08 0. 3%Fed Farm Cr Bk 3133EEG79 100,000 105,870. 40 2. 0%2,150. 00 09/07/2023 2.15% Accrued Income 680. 83 0. 4%Fed Farm Cr Bk 3133EEHG8 100,000 112,983. 90 2. 5%2,875. 00 06/09/2026 2.875% Accrued Income 175. 69 0. 3%Fed Farm Cr Bk 3133EER85 100,000 102,521. 50 2. 0%2,000. 00 12/01/2021 2.00% Accrued Income 166. 67 0. 6%Fed Farm Cr Bk 3133EESU5 150,000 170,876. 25 2. 4%4,185. 00 08/09/2027 2.79% Accrued Income 1,650. 75 0. 6%Fed Farm Cr Bk 3133EGN68 150,000 172,635. 45 2. 5%4,245. 00 11/28/2028 2.83% Accrued Income 389. 13 0. 6%Fed Farm Cr Bk 3133EHNR0 150,000 168,751. 65 2. 3%3,870. 00 06/15/2027 2.58% Accrued Income 172. 00 0. 8%Fed Farm Cr Bk 3133EHTW3 200,000 227,700. 80 2. 4%5,460. 00 08/04/2028 2.73% Accrued Income 2,229. 50 0. 6%Fed Farm Cr Bk 3133EHZD8 150,000 170,137. 35 2. 3%3,975. 00 09/19/2028 2.65% Accrued Income 1,126. 25 0. 2%Fed Farm Cr Bk 3133EJ2C2 50,000 57,240. 20 2. 8%1,610. 00 12/10/2025 3.22% Accrued Income 93. 92 0. 4%Fed Farm Cr Bk 3133EJFB0 100,000 117,193. 80 2. 7%3,170. 00 03/07/2028 3.17% Accrued Income 1,003. 83 0. 2%Fed Farm Cr Bk 3133EJJH3 50,000 58,600. 15 2. 7%1,575. 00 04/03/2028 3.15% Accrued Income 385. 00 0. 4%Fed Farm Cr Bk 3133EJNZ8 100,000 119,379. 60 2. 8%3,350. 00 12/14/2028 3.35% Accrued Income 158. 19 0. 8%Fed Farm Cr Bk 3133EJPN3 200,000 236,871. 60 2. 8%6,600. 00 05/17/2028 3.30% Accrued Income 806. 67 0. 4%Fed Farm Cr Bk 3133EJXS3 100,000 114,654. 10 2. 7%3,100. 00 08/24/2026 3.10% Accrued Income 1,093. 61 SFAM Page 11 of 23 16 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Fixed Income Taxable Bonds U.S. Government Agency 0. 4%Fed Farm Cr Bk 3133EK5F9 100,000 108,631. 20 1. 8%2,000. 00 11/01/2029 2.00% Accrued Income 333. 33 1. 0%Fed Farm Cr Bk 3133EKDF0 250,000 291,850. 75 2. 6%7,500. 00 03/14/2029 3.00% Accrued Income 2,229. 17 1. 0%Fed Farm Cr Bk 3133EKJE7 250,000 295,271. 75 2. 5%7,500. 00 11/25/2030 3.00% Accrued Income 750. 00 0. 8%Fed Farm Cr Bk 3133EKKG0 200,000 230,604. 40 2. 4%5,600. 00 05/03/2029 2.80% Accrued Income 902. 22 0. 4%Fed Farm Cr Bk 3133EKS64 100,000 108,891. 80 1. 9%2,040. 00 09/24/2029 2.04% Accrued Income 549. 67 0. 5%Fed Farm Cr Bk 3133ELBZ6 150,000 163,695. 45 1. 9%3,120. 00 12/02/2030 2.08% Accrued Income 251. 33 0. 4%Fed Farm Cr Bk 3133ELJV7 100,000 109,367. 80 1. 9%2,080. 00 01/23/2030 2.08% Accrued Income 912. 89 0. 3%Fed Farm Cr Bk 3133ELL28 100,000 101,216. 30 1. 1%1,150. 00 06/18/2029 1.15% Accrued Income 41. 53 0. 1%Fed Farm Cr Bk 3133FXEP8 30,000 32,461. 98 2. 8% 900. 00 07/15/2023 3.00% Accrued Income 415. 00 0. 4%Fed Home Ln Bk 3130A2UW4 100,000 110,307. 20 2. 6%2,875. 00 09/13/2024 2.875% Accrued Income 862. 50 0. 6%Fed Home Ln Bk 3130A3DU5 150,000 172,393. 20 2. 6%4,500. 00 03/12/2027 3.00% Accrued Income 1,362. 50 0. 5%Fed Home Ln Bk 3130A3KM5 150,000 158,179. 20 2. 4%3,750. 00 12/09/2022 2.50% Accrued Income 229. 17 0. 3%Fed Home Ln Bk 3130A3UQ5 100,000 100,753. 00 1. 9%1,875. 00 12/11/2020 1.875% Accrued Income 104. 17 0. 5%Fed Home Ln Bk 3130A5DA4 150,000 165,814. 50 2. 4%3,937. 50 06/13/2025 2.625% Accrued Income 196. 88 0. 7%Fed Home Ln Bk 3130A67F8 200,000 220,240. 40 2. 4%5,250. 00 03/14/2025 2.625% Accrued Income 1,560. 42 0. 7%Fed Home Ln Bk 3130A7BA2 200,000 220,124. 80 2. 2%4,750. 00 03/13/2026 2.375% Accrued Income 1,425. 00 0. 9%Fed Home Ln Bk 3130AAZ92 250,000 285,281. 75 2. 5%7,187. 50 03/12/2027 2.875% Accrued Income 2,176. 22 0. 4%Fed Home Ln Bk 3130ACKB9 100,000 112,929. 30 2. 3%2,625. 00 09/10/2027 2.625% Accrued Income 809. 38 SFAM Page 12 of 23 17 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Fixed Income Taxable Bonds U.S. Government Agency 0. 2%Fed Home Ln Bk 3130AD7C0 50,000 56,940. 25 2. 4%1,375. 00 12/10/2027 2.75% Accrued Income 80. 21 0. 4%Fed Home Ln Bk 3130AGDY8 100,000 114,852. 50 2. 4%2,750. 00 06/08/2029 2.75% Accrued Income 175. 69 1. 0%Fed Home Ln Bk 3133XVDG3 250,000 291,371. 50 3. 8%10,937. 50 09/13/2024 4.375% Accrued Income 3,281. 25 0. 7%Tenn Valley Auth 880591ER9 200,000 219,661. 00 2. 6%5,750. 00 09/15/2024 2.875% Accrued Income 1,693. 06 22. 2%6,773,180. 24 2. 4%162,467. 30 U.S. Government Agency - Callable 0. 4%Fed Farm Cr Bk 3133EJPJ2 100,000 108,131. 70 3. 4%3,670. 00 05/16/2028 3.67% Call 05/16/2023, 100.00 Accrued Income 458. 75 0. 4%Fed Farm Cr Bk 3133EJR76 100,000 109,902. 30 3. 4%3,780. 00 11/07/2028 3.78% Call 11/07/2023, 100.00 Accrued Income 567. 00 0. 7%219,059. 75 3. 4%7,450. 00 Taxable Municipal 0. 3%Cook Cnty, IL 213687JZ0 100,000 100,093. 00 5. 1%5,100. 00 Evanston Sch. Dist 65 12/01/2026 5.10% Accrued Income 425. 00 0. 4%Cook Cnty, IL 215075KH4 100,000 112,011. 00 4. 0%4,500. 00 Dolton SD #148 BAM Insured 12/01/2024 4.50% Accrued Income 375. 00 0. 4%DuPage & Cook Cnty 262579SA4 100,000 108,946. 00 3. 0%3,300. 00 Hinsdale Sch Dist 181 01/15/2025 3.30% Accrued Income 1,521. 67 0. 2%Hoffman Estates, IL 434452KW7 50,000 54,939. 00 4. 1%2,250. 00 12/01/2030 4.50% Call 12/01/2024, 100.00 Accrued Income 187. 50 0. 4%Lake Cnty, IL 508759KK2 100,000 110,639. 00 3. 1%3,429. 00 Hawthorn Woods SD #73 01/01/2027 3.429% Accrued Income 1,714. 50 0. 5%Lake Zurich, IL 511444RJ2 150,000 159,133. 50 2. 7%4,275. 00 02/01/2027 2.85% Call 02/01/2026, 100.00 Accrued Income 1,781. 25 0. 3%Oakbrook Ter, IL 67184PGX3 100,000 102,713. 00 2. 9%3,000. 00 12/15/2025 3.00% Call 12/15/2022, 100.00 Accrued Income 133. 33 SFAM Page 13 of 23 18 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Fixed Income Taxable Bonds Taxable Municipal 0. 5%Skokie, IL 830728SM4 150,000 157,024. 50 2. 2%3,525. 00 12/01/2024 2.35% Accrued Income 293. 75 0. 5%Wheeling, IL Pk Dist 963116LL0 150,000 151,639. 50 4. 7%7,125. 00 11/01/2020 4.75% Accrued Income 1,187. 50 0. 5%Will Cnty IL CSD 968648ZL2 150,000 154,515. 00 2. 9%4,500. 00 Plainfield Cmty CSD #202 01/01/2022 3.00% Accrued Income 2,250. 00 4. 0%1,221,523. 00 3. 4%41,004. 00 Corporate 0. 4%3M Company 88579YAY7 115,000 127,883. 57 2. 6%3,306. 25 10/15/2027 2.875% Call 07/15/2027, 100.00 Accrued Income 697. 99 0. 3%Anheuser-Busch 035242AL0 90,000 96,064. 02 3. 1%2,970. 00 02/01/2023 3.30% Call 12/01/2022, 100.00 Accrued Income 1,237. 50 0. 4%Apple Inc 037833AS9 100,000 110,494. 80 3. 1%3,450. 00 05/06/2024 3.45% Accrued Income 527. 08 0. 4%Apple Inc 037833BY5 100,000 112,264. 90 2. 9%3,250. 00 02/23/2026 3.25% Call 11/23/2025, 100.00 Accrued Income 1,155. 56 0. 5%Berkshire Hathaway 084670BR8 150,000 158,675. 55 2. 6%4,125. 00 03/15/2023 2.75% Call 01/15/2023, 100.00 Accrued Income 1,214. 58 0. 4%Berkshire Hathaway 084670BS6 100,000 111,464. 40 2. 8%3,125. 00 03/15/2026 3.125% Call 12/15/2025, 100.00 Accrued Income 920. 14 0. 4%Coca Cola Co 191216CM0 100,000 106,294. 10 2. 0%2,125. 00 09/06/2029 2.125% Accrued Income 678. 82 0. 4%Exxon Mobil 30231GAT9 100,000 109,701. 60 2. 8%3,043. 00 03/01/2026 3.043% Call 12/01/2025, 100.00 Accrued Income 1,014. 33 0. 5%Gilead Sciences 375558AU7 150,000 156,736. 35 4. 2%6,600. 00 12/01/2021 4.40% Call 09/01/2021, 100.00 Accrued Income 550. 00 0. 5%IBM Corp 459200HU8 150,000 165,099. 15 3. 3%5,437. 50 02/12/2024 3.625% Accrued Income 2,099. 48 0. 4%Microsoft Corp 594918BY9 100,000 114,213. 70 2. 9%3,300. 00 02/06/2027 3.30% Call 11/06/2026, 100.00 Accrued Income 1,329. 17 SFAM Page 14 of 23 19 of 61 Portfolio Statement As of 06/30/2020 Oak Brook Firefighters' Pension Fund Current Current Annual Weight Description Symbol Quantity Value Yield Income Fixed Income Taxable Bonds Corporate 0. 4%The Home Depot,437076BY7 100,000 112,228. 60 2. 6%2,950. 00 06/15/2029 2.95% Call 03/15/2029, 100.00 Accrued Income 131. 11 0. 6%Univ of Chicago 91412NAB6 180,000 195,741. 72 4. 4%8,568. 00 10/01/2023 4.76% Accrued Income 2,142. 00 0. 4%US Bancorp 91159HHA1 125,000 128,802. 13 4. 0%5,156. 25 05/24/2021 4.125% Call 04/23/2021, 100.00 Accrued Income 529. 95 0. 2%Wal-Mart Stores 931142EK5 50,000 54,329. 90 3. 1%1,700. 00 06/26/2023 3.40% Call 05/26/2023, 100.00 Accrued Income 23. 61 6. 1%1,874,245. 81 3. 2%59,106. 00 37. 0%11,282,679. 35 2. 6%293,777. 30 Cash Equivalent Cash Equivalent Cash Equivalent 0. 7%Schwab Government Money Fund SWGXX 211,049. 10 0. 0%21. 10 99. 8%30,452,945. 91 1. 7%513,109. 86 Total Accrued Income 63,212. 54 100. 0%30,516,158. 45 Information in this report is based on data provided by the custodian. SFAM Page 15 of 23 20 of 61 Oak Brook Firefighters' Pension Fund June 30, 2020 EQUITY PORTFOLIO This section of the quarterly presentation contains independent, third party information provided by Morningstar regarding the equity portfolio of mutual funds and the individual underlying mutual funds. SFAM Page 16 of 23 21 of 61 Portfolio Snapshot Portfolio Value Benchmark $19,022,430.00 Custom Oak Brook Firefighters' Pension Fund: 20433707 Analysis 06-30-2020 Asset Allocation Portfolio Net % Bmark Net % Cash 1.90 0.00 US Stocks 87.28 89.21 Non-US Stocks 10.53 10.78 Bonds 0.04 0.00 Other/Not Clsfd 0.25 0.01 Morningstar Equity Style Box %Morningstar Fixed Income Style Box % Value Blend Growth Large Mid Small 17 23 28 6 7 7 3 4 5 Total Stock Holdings 3,421 % Not Classified 0 0-10 10-25 25-50 >50 Ltd Mod Ext High Med Low 0 0 0 0 0 0 0 0 0 Total Bond Holdings 350 % Not Classified 100 0-10 10-25 25-50 >50 Stock Analysis 06-30-2020 Stock Sectors CyclicalDefensiveSen s i t i ve Benchmark Portfolio Portfolio (%) Bmark (%) h Cyclical 32.32 31.31 r Basic Matls 3.17 3.01 t Consumer Cycl 11.27 10.48 y Financial Svs 12.99 13.84 u Real Estate 4.89 3.98 j Sensitive 41.58 42.34 i Commun Svs 9.52 8.74 o Energy 2.05 2.78 p Industrials 9.99 10.38 a Technology 20.02 20.44 k Defensive 26.10 26.35 s Consumer Def 7.31 7.16 d Healthcare 15.92 15.94 f Utilities 2.87 3.25 Not Classified 0.00 0.00 World Regions Greater Asia Americas Greater Europe <25 25-50 50-75 >75% Portfolio (%) Bmark (%) Americas 90.29 89.33 North America 89.92 89.28 Latin America 0.37 0.05 Greater Europe 5.87 6.82 United Kingdom 1.49 1.92 Europe-Developed 4.14 4.82 Europe-Emerging 0.17 0.01 Africa/Middle East 0.07 0.07 Greater Asia 3.84 3.84 Japan 1.03 2.64 Australasia 0.18 0.68 Asia-Developed 0.73 0.47 Asia-Emerging 1.90 0.05 Not Classified 0.00 0.00 Performance 06-30-2020 Investment Activity Graph Portfolio Initial Mkt Val: $5,667,596 Final Mkt Val: $19,022,430 Benchmark 07-10 07-11 07-12 07-13 07-14 07-15 07-16 07-17 07-18 07-19 2.0 6.5 10.5 14.5 18.5 $22.5 mil Trailing Returns*3 Mo 1 Yr 3 Yr 5 Yr 10 Yr Portfolio Return 21.71 5.12 9.56 9.99 13.65 Benchmark Return 20.97 3.41 8.07 8.68 12.58 +/- Benchmark Return 0.74 1.71 1.49 1.31 1.07 *Full return history is not available for all securities. Please see Return Participation disclosure. Best/Worst Time Periods Best %Worst % 3 Months 21.71 ( Apr 2020-Jun 2020 ) -21.03 ( Jan 2020-Mar 2020 ) 1 Year 34.40 ( Jul 2010-Jun 2011 )-10.29 ( Apr 2019-Mar 2020 ) 3 Years 21.64 ( Oct 2011-Sep 2014 )4.02 ( Apr 2017-Mar 2020 ) Portfolio Yield ( 06-30-2020 )Yield % 12-Month Yield — Portfolio-Level Performance Disclosure The portfolio-level performance shown is hypothetical and for illustrative purposes only. Investor returns will differ from the results shown. The performance data reflects monthly portfolio rebalancing. Holdings 06-30-2020 Top 10 holdings out of 15 Symbol Type Holding Value $ % Assets T. Rowe Price Growth Stock I (USD)PRUFX MF 4,419,450 23.23 Vanguard 500 Index Admiral (USD)VFIAX MF 4,350,009 22.87 Pioneer Equity Income Y (USD)PYEQX MF 1,775,695 9.33 Hartford Core Equity Y (USD)HGIYX MF 1,332,539 7.01 T. Rowe Price QM US Small-Cap Gr Eq I (USD)TQAIX MF 1,227,951 6.46 Goldman Sachs Small Cap Eq Insghts Instl (USD)GCSIX MF 1,091,075 5.74 Vanguard S&P 500 ETF (USD)VOO ETF 950,624 5.00 AQR Large Cap Defensive Style R6 (USD)QUERX MF 833,137 4.38 TIAA-CREF Small-Cap Blend Idx Inst (USD)TISBX MF 769,437 4.04 Victory Sycamore Established Value I (USD)VEVIX MF 493,216 2.59 Release date 06-30-2020 | FINRA members: For internal or institutional use only. ©2020 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial professional which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report. ß® Page 161 of 250 SFAM Page 17 of 23 22 of 61 Portfolio Snapshot Portfolio Value Benchmark $19,022,430.00 Custom Oak Brook Firefighters' Pension Fund: 20433707 Risk Analysis 06-30-2020 Risk/Reward Scatterplot Portfolio Holdings Bmark 10 Year Mean -3.80 0.00 3.80 7.60 11.40 15.20 19.00 22.80 26.60 30.40 34.20 -2.0 -0.5 1.0 2.5 4.0 5.5 7.0 8.5 10.0 11.5 13.0 14.5 16.0 17.5 19.0 10 Year Standard Deviation Performance History Graph Portfolio Quarterly returns +/- Benchmark in % 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 -2.0 Bmark 2.0 4.0 6.0 8.0 10.0% Risk and Return Statistics*3 Yr 5 Yr 10 Yr Portfolio Bmark Portfolio Bmark Portfolio Bmark Standard Deviation 17.37 17.65 15.11 15.41 14.03 14.17 Mean 9.56 8.07 9.99 8.68 13.65 12.58 Sharpe Ratio 0.54 0.45 0.66 0.56 1.00 0.92 MPT Statistics*3 Yr Portfolio 5 Yr Portfolio 10 Yr Portfolio Alpha 1.46 1.36 1.12 Beta 0.98 0.98 0.98 R-Squared 99.43 99.10 98.79 Portfolio-Level Performance Disclosure The portfolio-level performance shown is hypothetical and for illustrative purposes only. Investor returns will differ from the results shown. The performance data reflects monthly portfolio rebalancing. Fundamental Analysis 06-30-2020 Asset Allocation -100 -50 0 50 100 Portfolio Net % Portfolio Long % Portfolio Short % Cash 1.90 1.91 0.01 US Stocks 87.28 87.28 0.00 Non-US Stocks 10.53 10.53 0.00 Bonds 0.04 0.04 0.00 Other/Not Clsfd 0.25 0.25 0.00 Total 100.00 100.01 0.01 Market Maturity % of Stocks Portfolio Bmark Developed Markets 97.57 99.93 Emerging Markets 2.43 0.07 Not Available 0.00 0.00 Valuation Multiples Portfolio Bmark Price/Earnings 20.12 20.20 Price/Book 2.78 2.50 Price/Sales 1.77 1.61 Price/Cash Flow 12.49 11.32 Profitability Portfolio Bmark % of Stocks 2020-06 2020-06 Net Margin 15.57 14.34 ROE 22.23 20.55 ROA 7.81 6.45 Debt/Capital 40.36 42.93 Fund Statistics Potential Cap Gains Exposure 30.63 Avg Net Expense Ratio 0.43 Avg Gross Expense Ratio 0.44 Geometric Avg Capitalization ($Mil) Portfolio 47,755.56 Benchmark 49,553.04 Credit Quality Breakdown % of Bonds AAA — AA — A — BBB — BB — B — Below B — NR — Interest Rate Risk Bonds % Not Available Avg Eff Maturity — 100.00 Avg Eff Duration — 100.00 Avg Wtd Coupon — 9.09 Type Weightings % of Stocks Portfolio Bmark n High Yield 24.70 27.53 b Distressed 1.30 2.67 v Hard Asset 6.62 5.59 m Cyclical 23.24 23.37 x Slow Growth 4.28 3.87 z Classic Growth 6.65 5.60 l Aggressive Growth 19.25 15.33 c Speculative Growth 4.82 3.49 Not Available 9.14 12.54 0% 5 10 15 20 25 30 35 40 45 50 *Full return history is not available for all securities. Please see Return Participation disclosure. Release date 06-30-2020 | FINRA members: For internal or institutional use only. ©2020 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial professional which cannot be verified by Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report. ß® Page 162 of 250 SFAM Page 18 of 23 23 of 61 Mutual Fund Performance and Characteristics June 30, 2020 MUTUAL FUND PERFORMANCE AND FUND CHARACTERISTICS Large Cap (US) Ticker Investment Annualized Returns Symbol Objective YTD 1 yr 3 yrs 5 yrs 10 yrs T Rowe Price Growth Stock PRUFX Large Growth 9.07% 18.69% 16.59% 14.80% 17.08% Vanguard 500 Index Admiral VFIAX Large Blend -3.10% 7.47% 10.69% 10.69% 13.95% AQR Large Cap Defensive QUERX Large Blend -3.91% 4.34% 10.94% 12.00% N/A% Hartford Core Equity Y HGIYX Large Blend -4.07% 7.22% 11.88% 10.78% 15.00% Pioneer Equity Income Fund PYEQX Large Value -15.00% -6.60% 2.56% 6.34% 11.02% S&P 500 Index – Growth 7.93% 17.75% 16.75% 14.63% 16.62% S&P 500 Index -3.08% 7.51% 10.73% 10.73% 13.99% S&P 500 Index – Value -15.52% -4.50% 3.74% 5.98% 10.88% Small & Mid Cap (US) Ticker Investment Annualized Returns Symbol Objective YTD 1 yr 3 yrs 5 yrs 10 yrs TIAA Nuveen Small Cap Index TISBX Small Blend -12.87% -6.48% 2.14% 4.46% 10.67% Goldman Sachs Small Cap Equity GCSIX Small Blend -16.70% -10.34% 1.62% 4.28% 10.47% Victory Sycamore Established Value VEVIX Mid-Cap Value -14.87% -7.97% 2.78% 6.22% 11.52% T Rowe Price Div Small Cap Grwth TQAIX Small Growth -5.50% 1.65% 8.95% 8.38% 14.80% Russell 2000 Index – Growth -3.06% 3.48% 7.86% 6.86% 12.92% Russell 2000 Index -12.98% -6.63% 2.01% 4.29% 10.50% Russell 2000 Index - Value -23.50% -17.48% -4.35% 1.26% 7.82% International Ticker Investment Annualized Returns Symbol Objective YTD 1 yr 3 yrs 5 yrs 10 yrs MFS International Growth MQGIX Large Growth -4.85% 2.50% 6.97% 7.33% 8.22% First Eagle Overseas SGOIX Large Blend -6.90% -2.32% 1.08% 2.91% 5.79% Goldman Sachs Intl Equity GCIIX Large Blend -11.16% -5.86% -0.47% 2.95% 6.10% Oppenheimer Developing Markets ODVIX Emerging Mkts -8.71% -1.69% 4.52% 4.78% 5.54% MSCI EAFE Index -11.34% -5.13% 0.81% 2.05% 5.73% MSCI Emerging Markets Index -9.78% -3.39% 1.90% 2.86% 3.27% Real Estate Ticker Investment Annualized Returns Symbol Objective YTD 1 yr 3 yrs 5 yrs 10 yrs Cohen & Steers Realty CSRIX Real Estate -12.89% -4.40% 4.69% 6.99% 10.43% DJ US Select REIT Index -22.01% -17.71% -1.99% 2.45% 8.27% *YTD Return and Annualized Returns are calculated as of June 30, 2020 The performance data noted above is the performance of the referenced mutual fund for the period and does not represent the performance of Sawyer Falduto Asset Management, LLC or its clients. Past performance does not guarantee future results. SFAM Page 19 of 23 24 of 61 Oak Brook Firefighters' Pension Fund June 30, 2020 FIXED INCOME PORTFOLIO Fixed Income Allocation Minimum Range Maximum Current US Treasury Bills/Notes/Bonds 0% 5 – 40% 100% 10.6% US Government Agency (non-MBS) 0% 20 – 70% 75% 60.1% US Government Agency (Callable) 0% 0 – 20% 30% 1.9% US Government Agency (MBS) 0% 0 – 10% 15% 0.0% Taxable Municipal Securities 0% 5 – 20% 30% 10.8% Certificates of Deposit 0% 0 – 10% 20% 0.0% Investment Grade Corporate Bonds 0% 5 – 20% 30% 16.6% Portfolio Statistics Duration* Yield-to- Maturity* Current Yield Average Coupon Fixed Income Portfolio 5.12 yrs 0.85% 2.62% 2.89% Blended Fixed Benchmark 5.49 yrs 1.03% 3.25% 3.95% *Excludes Mortgage Backed Securities Maturity Distribution % of Fixed Income 0 - 1 years 6.1% 1 - 3 years 12.1% 3 - 5 years 23.4% 5 - 7 years 27.2% 7 - 10 years 27.1% 10 - 15 years 4.1% 15 + years 0.0% Quality Distribution** Tsy/FDIC Aaa Aa A/Baa/NR Fixed Income Portfolio 10.6% 63.0% 11.8% 14.6% **Quality Distribution reflects ratings as provided by Moody’s. Standard & Poor’s lowered the rating on US Treasuries and certa in government agencies to A+ on 8/5/2011. SFAM Page 20 of 23 25 of 61 Transaction Ledger Report From 04/01/2020 to 06/30/2020 Oak Brook Firefighters' Pension Fund Trade Principal Accrued Date Activity Description Quantity Amount Pd/Rec 04/01/2020 Deposit Schwab Government Money Fund 184,727. 05 04/01/2020 Interest Univ of Chicago 4,284. 00 10/01/2023 4.76% 04/03/2020 Interest Fed Farm Cr Bk 787. 50 04/03/2028 3.15% 04/03/2020 Management Fee Schwab Government Money Fund 13,572. 00 04/07/2020 Sell Fed Farm Cr Bk (300,000)318,600. 00 1,876. 25 07/03/2029 2.37% 04/15/2020 Interest 3M Company 1,653. 13 10/15/2027 2.875% Call 07/15/2027 100.00 04/15/2020 Dividend Schwab Government Money Fund 85. 32 04/22/2020 Withdrawal Schwab Government Money Fund 100,000. 00 04/22/2020 Withdrawal Schwab Government Money Fund 100,000. 00 04/22/2020 Withdrawal Schwab Government Money Fund 47,950. 57 04/24/2020 Interest Fed Farm Cr Bk 1,250. 00 10/24/2025 2.50% 04/30/2020 Interest US Treas Note 812. 50 10/31/2023 1.625% 04/30/2020 Interest US Treas Note 812. 50 10/31/2026 1.625% 04/30/2020 Interest US Treas Note 875. 00 10/31/2020 1.75% 05/01/2020 Interest Fed Farm Cr Bk 1,000. 00 11/01/2029 2.00% 05/01/2020 Interest Fed Farm Cr Bk 1,481. 25 05/01/2025 2.37% 05/01/2020 Interest Wheeling, IL Pk Dist 3,562. 50 11/01/2020 4.75% 05/03/2020 Interest Fed Farm Cr Bk 2,800. 00 05/03/2029 2.80% 05/06/2020 Interest Apple Inc 1,725. 00 05/06/2024 3.45% 05/06/2020 Interest Fed Farm Cr Bk 1,077. 80 11/06/2023 3.17% 05/07/2020 Deposit Schwab Government Money Fund 186,372. 72 05/07/2020 Interest Fed Farm Cr Bk 1,890. 00 11/07/2028 3.78% Call 11/07/2023 100.00 05/15/2020 Dividend Schwab Government Money Fund 3. 97 05/15/2020 Interest US Treas Note 1,187. 50 05/15/2027 2.375% 05/15/2020 Interest US Treas Note 1,218. 75 05/15/2026 1.625% 05/15/2020 Interest US Treas Note 2,062. 50 11/15/2023 2.75% 05/15/2020 Interest US Treas Note 2,343. 75 11/15/2028 3.125% 05/16/2020 Interest Fed Farm Cr Bk 1,835. 00 05/16/2028 3.67% Call 05/16/2023 100.00 05/17/2020 Interest Fed Farm Cr Bk 3,300. 00 05/17/2028 3.30% 05/22/2020 Withdrawal Schwab Government Money Fund 257,437. 86 SFAM Page 21 of 23 26 of 61 Transaction Ledger Report From 04/01/2020 to 06/30/2020 Oak Brook Firefighters' Pension Fund Trade Principal Accrued Date Activity Description Quantity Amount Pd/Rec 05/25/2020 Interest Fed Farm Cr Bk 3,750. 00 11/25/2030 3.00% 05/26/2020 Interest US Bancorp 2,578. 13 05/24/2021 4.125% Call 04/23/2021 100.00 05/28/2020 Interest Fed Farm Cr Bk 2,122. 50 11/28/2028 2.83% 05/31/2020 Interest US Treas Note 1,500. 00 11/30/2022 2.00% 06/01/2020 Interest Cook Cnty, IL 2,250. 00 12/01/2024 4.50% 06/01/2020 Interest Cook Cnty, IL 2,550. 00 12/01/2026 5.10% 06/01/2020 Interest Fed Farm Cr Bk 1,000. 00 12/01/2021 2.00% 06/01/2020 Interest Gilead Sciences 3,300. 00 12/01/2021 4.40% Call 09/01/2021 100.00 06/01/2020 Interest Hoffman Estates, IL 1,125. 00 12/01/2030 4.50% Call 12/01/2024 100.00 06/01/2020 Interest Skokie, IL 1,762. 50 12/01/2024 2.35% 06/02/2020 Interest Fed Farm Cr Bk 1,560. 00 12/02/2030 2.08% 06/05/2020 Deposit Schwab Government Money Fund 185,478. 91 06/08/2020 Interest Fed Farm Cr Bk 1,137. 50 06/08/2020 4.55% 06/08/2020 Interest Fed Home Ln Bk 1,375. 00 06/08/2029 2.75% 06/08/2020 Sell Fed Farm Cr Bk (50,000)50,000. 00 0. 00 06/08/2020 4.55% 06/09/2020 Buy Fed Farm Cr Bk 100,000 100,000. 00 0. 00 06/18/2029 1.15% 06/09/2020 Interest Fed Farm Cr Bk 1,437. 50 06/09/2026 2.875% 06/09/2020 Interest Fed Home Ln Bk 1,875. 00 12/09/2022 2.50% 06/10/2020 Interest Fed Farm Cr Bk 805. 00 12/10/2025 3.22% 06/10/2020 Interest Fed Home Ln Bk 687. 50 12/10/2027 2.75% 06/11/2020 Interest Fed Home Ln Bk 937. 50 12/11/2020 1.875% 06/13/2020 Interest Fed Home Ln Bk 1,968. 75 06/13/2025 2.625% 06/14/2020 Interest Fed Farm Cr Bk 1,675. 00 12/14/2028 3.35% 06/15/2020 Interest Fed Farm Cr Bk 1,935. 00 06/15/2027 2.58% 06/15/2020 Interest Oakbrook Ter, IL 1,500. 00 12/15/2025 3.00% Call 12/15/2022 100.00 06/15/2020 Dividend Schwab Government Money Fund 3. 50 06/15/2020 Interest The Home Depot,1,475. 00 06/15/2029 2.95% Call 03/15/2029 100.00 06/17/2020 Deposit Schwab Government Money Fund 50. 00 06/18/2020 Qualified Dividend Pioneer Equity Income 251. 518 7,945. 44 SFAM Page 22 of 23 27 of 61 Transaction Ledger Report From 04/01/2020 to 06/30/2020 Oak Brook Firefighters' Pension Fund Trade Principal Accrued Date Activity Description Quantity Amount Pd/Rec 06/23/2020 Withdrawal Schwab Government Money Fund 260,789. 71 06/24/2020 Interest Fed Farm Cr Bk 2,570. 00 12/24/2026 2.57% 06/24/2020 Qualified Dividend Victory Sycamore 51. 083 1,682. 15 06/26/2020 Qualified Dividend Vanguard 500 Index Fund 78. 19 21,707. 02 06/26/2020 Interest Wal-Mart Stores 850. 00 06/26/2023 3.40% Call 05/26/2023 100.00 06/30/2020 Qualified Dividend Cohen & Steers Realty 64. 174 2,523. 33 06/30/2020 Long Gain Cohen & Steers Realty 226. 525 8,906. 97 06/30/2020 Interest US Treas Note 1,062. 50 12/31/2022 2.125% Information in this report is based on data provided by the custodian. SFAM Page 23 of 23 28 of 61 Monthly Financial Report For the Month Ended June 30, 2020 Prepared By 668 N. RIVER ROAD • NAPERVILLE, ILLINOIS 60563 PHONE 630.393.1483 • FAX 630.393.2516 www.lauterbachamen.com 29 of 61 Oak Brook Firefighters' 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 Cash & Investments - Pie Chart.............................................................................................. 3-1 Cash Analysis Report.............................................................................................................. 4-1 Cash Analysis Summary - Graph............................................................................................ 5-1 Revenue Report....................................................................................................................... 6-1 Expenses - Bar Chart............................................................................................................... 7-1 Expense Report........................................................................................................................ 8-1 Member Contribution Report.................................................................................................. 9-1 Payroll Batch Report............................................................................................................... 10-1 Quarterly Vendor Check Report.............................................................................................. 11-1 30 of 61 31 of 61 July 11, 2020 Oak Brook Firefighters' Pension Fund 1200 Oak Brook Road Oak Brook, IL 60523 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Oak Brook Firefighters'Pension Fund which comprise the statement of net position -modified cash basis as of June 30,2020 and the related statement of changes in net position -modified cash basis for the six 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 1-1 32 of 61 33 of 61 Assets Cash and Cash Equivalents 15,000.00$ Investments at Fair Market Value Money Market Mutual Funds 397,767.88 Fixed Income 11,219,466.81 Mutual Funds 19,022,430.00 Total Cash and Investments 30,654,664.69 Accrued Interest 63,212.67 Prepaids 1,478.33 Total Assets 30,719,355.69 Liabilities Expenses Due/Unpaid 17,804.00 Total Liabilities 17,804.00 Net Position Held in Trust for Pension Benefits 30,701,551.69 Oak Brook Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of June 30, 2020 See Accountants' Compilation Report 2-1 34 of 61 Additions Contributions - Municipal 1,054,600.28$ Contributions - Members 154,953.06 Total Contributions 1,209,553.34 Investment Income Interest and Dividends Earned 228,196.80 Net Change in Fair Value (90,319.92) Total Investment Income 137,876.88 Less Investment Expense (29,021.00) Net Investment Income 108,855.88 Total Additions 1,318,409.22 Deductions Administration 23,272.98 Pension Benefits and Refunds Pension Benefits 1,489,820.14 Refunds 0.00 Total Deductions 1,513,093.12 Change in Position (194,683.90) Net Position Held in Trust for Pension Benefits Beginning of Year 30,896,235.59 End of Period 30,701,551.69 Oak Brook Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Six Months Ended June 30, 2020 See Accountants' Compilation Report 2-2 35 of 61 36 of 61 Oak Brook Firefighters' Pension FundCash & Cash Equivalents0%Money Market Mutual Funds1%Fixed Income37%Mutual Funds62%Cash and InvestmentsSee Accountants' Compilation Report 3-137 of 61 07/31/1908/31/1909/30/1910/31/1911/30/1912/31/1901/31/2002/29/2003/31/2004/30/2005/31/2006/30/20Financial InstitutionsFifth Third Bank - CK #10843640041,038$ -----------Harris Bank - CK #318-320-9185,236 16,727 191,334 14,973 12,950 14,900 15,00013,935 14,583 13,235 9,943 15,000226,274 16,727 191,334 14,973 12,950 14,90015,000 13,935 14,583 13,235 9,943 15,000Schwab - MM #2043-3707353,841681,505 7,737 301,672 423,785 448,973 457,085 466,092 267,581 523,467 485,447 397,768353,841 681,505 7,737 301,672 423,785 448,973 457,085 466,092 267,581 523,467 485,447 397,768Total580,115 698,232 199,071 316,645 436,735 463,873 472,085 480,027 282,164 536,702 495,390 412,768ContributionsContributions in Lieu of Tax Levy147,115 307,995 153,744 154,926 156,814 273,462 245,012161,513 161,062 162,497 161,718 162,799Contributions - Current Year23,121 33,957 22,590 22,763 23,041 27,851 36,000 23,731 23,665 23,876 23,761 23,920Contributions - Prior Year-3,714--- -------Interest Received from Members- 754 ----------170,236 346,420 176,334 177,689 179,855 301,313 281,012 185,244 184,727 186,373 185,479 186,719ExpensesPension Benefits242,031 242,031 242,031 242,031242,031 242,031 247,325 247,325 247,533 247,533 247,691 252,412Administration21,917 4,461 1,720 17,0482,050 1,151 17,169 2,785 417 15,337 13,266 3,320263,948 246,492 243,751 259,079 244,081 243,182 264,494 250,110 247,950 262,870 260,957 255,732Total Contributions less Expenses(93,712)99,928(67,417) (81,390) (64,226)58,131 16,518(64,866) (63,223) (76,497) (75,478) (69,013)Oak Brook Firefighters' Pension FundCash Analysis ReportFor the Twelve Periods Ending June 30, 2020See Accountants' Compilation Report4-138 of 61 Oak Brook Firefighters' Pension Fund$0$200,000$400,000$600,000$800,000$1,000,000$1,200,000Cash Analysis SummaryCash & Money Market BalancesTotal ContributionsBenefit & Administrative ExpensesSee Accountants' Compilation Report 5-139 of 61 Contributions Contributions - Municipal 41-240-00 - Contributions in Lieu of Tax Levy 162,798.67$1 1,054,600.28 162,798.67 1,054,600.28 Contributions - Members 41-410-00 - Contributions - Current Year 23,920.11 1 154,953.06 23,920.11 154,953.06 Total Contributions 186,718.78 8 1,209,553.34 Investment Income Interest and Dividends 43-252-05 - Schwab - Fixed Income #2043-3707 36,342.25 1 162,264.46 43-550-05 - Schwab - Mutual Funds #2043-3707 42,764.91 1 75,697.78 79,107.16 6 237,962.24 Gains and Losses 44-252-05 - Schwab - Fixed Income #2043-3707 42,854.76 1 656,984.52 44-550-05 - Schwab - Mutual Funds #2043-3707 392,786.12 1 (747,304.44) 435,640.88 4 (90,319.92) Other Income 45-200-00 - Accrued Interest (10,405.22)1 (10,091.75) 49-000-01 - Other Income 50.00 1 326.31 (10,355.22)4 (9,765.44) Total Investment Income 504,392.82 2 4 137,876.88 Total Revenue 691,111.60 1,347,430.22 Oak Brook Firefighters' Pension Fund Revenue Report as of June 30, 2020 Received Received this Month this Year See Accountants' Compilation Report 6-1 40 of 61 Oak Brook Firefighters' Pension Fund100,000200,000300,000400,000500,000600,000700,000800,000900,0001,000,000ServiceNon-DutyDisabilityDuty Disability OccupationalDiseaseSurviving Spouse AdministrativeExpenses990,213 11,953 271,909 31,111 184,634 52,294Pension Benefits and ExpensesSee Accountants' Compilation Report 7-141 of 61 Expended Expended this Month this Year Pensions and Benefits 51-020-00 - Service Pensions 169,144.64$990,213.34 51-030-00 - Non-Duty Disability Pensions 1,992.20 11,953.20 51-040-00 - Duty Disability Pensions 45,318.20 271,909.20 51-050-00 - Occupational Disease Pensions 5,185.14 31,110.84 51-060-00 - Surviving Spouse Pensions 30,772.26 184,633.56 Total Pensions and Benefits 252,412.44 1,489,820.14 Administrative Insurance 52-150-01 - Fiduciary Insurance 0.00 4,482.00 0.00 4,482.00 Professional Services 52-170-01 - Actuarial Services 0.00 3,500.00 52-170-02 - Auditing Services 3,320.00 3,320.00 52-170-03 - Accounting & Bookkeeping Services 0.00 3,400.00 52-170-05 - Legal Services 0.00 417.10 52-170-06 - PSA/Court Reporter 0.00 2,570.00 3,320.00 13,207.10 Investment 52-190-01 - Investment Manager/Advisor Fees 0.00 29,021.00 0.00 29,021.00 Other Expense 52-290-25 - Conference/Seminar Fees 0.00 300.30 52-290-34 - IDOI Filing Fee Expense 0.00 5,283.58 0.00 5,583.88 Total Administrative 3,320.00 52,293.98 Total Expenses 255,732.44 1,542,114.12 Oak Brook Firefighters' Pension Fund Expense Report as of June 30, 2020 See Accountants' Compilation Report 8-1 42 of 61 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Arzer, Jacob G.$55,340.05 4,645.09 0.00 0.00 59,985.14 Babcock, Nicholas W.90,177.52 4,705.04 0.00 0.00 94,882.56 Bielawa, Matthew G.133,939.43 4,714.49 0.00 0.00 138,653.92 Bitterlin, Brian W.170,396.20 5,636.04 0.00 0.00 176,032.24 Bowlan, Seth L. 0.00 1,366.77 0.00 0.00 1,366.77 Busse, Zachary M.46,157.09 4,546.88 0.00 0.00 50,703.97 Clark, Gary E.202,339.47 6,270.79 0.00 0.00 208,610.26 Corkey, David B.139,902.48 4,723.95 0.00 0.00 144,626.43 Doran, Connor T.36,656.31 4,169.01 0.00 0.00 40,825.32 Ebsen, Robert T.76,878.43 4,705.04 0.00 0.00 81,583.47 Erickson, Michael D.144,860.99 5,117.26 0.00 0.00 149,978.25 Fagan, John J.121,980.94 5,540.90 0.00 0.00 127,521.84 Fleege, Kevin W.155,930.18 5,930.36 0.00 0.00 161,860.54 Focht, Eric D.4,754.67 3,571.52 0.00 0.00 8,326.19 Janney, Michael E.155,451.30 4,809.74 0.00 0.00 160,261.04 Johnson, Marc E.112,064.34 4,714.49 0.00 0.00 116,778.83 Kaczmarczyk, David R.114,805.96 5,531.45 0.00 0.00 120,337.41 Kelly, Sean P.107,099.44 4,705.04 0.00 0.00 111,804.48 Kornfeind, David 116,675.27 4,714.49 0.00 0.00 121,389.76 Kushner, Jeffrey A.31,345.04 4,109.86 0.00 0.00 35,454.90 Liss, Barry J.73,867.95 7,004.41 0.00 0.00 80,872.36 Marciniak, Jeffrey D.207,477.31 6,268.36 0.00 0.00 213,745.67 Matousek, Kyle M.72,236.24 4,701.83 0.00 0.00 76,938.07 Meyers, Daniel B.101,987.53 4,705.04 0.00 0.00 106,692.57 Micek, Robert S. Jr.91,777.24 4,705.04 0.00 0.00 96,482.28 Nyhanna, William R.94,654.19 5,316.65 0.00 0.00 99,970.84 Pavlovic, Michael 156,005.69 5,550.36 0.00 0.00 161,556.05 Picciola, Gino 36,649.66 4,227.74 0.00 0.00 40,877.40 Ruska, Michelle H.134,592.91 4,714.49 0.00 0.00 139,307.40 Sinclair, Thomas W. IV 27,469.39 4,092.49 0.00 0.00 31,561.88 Swagler, Shawn M.165,060.09 4,723.95 0.00 0.00 169,784.04 Washington, Glen A.132,885.89 4,714.49 0.00 0.00 137,600.38 Totals 3,311,419.20 154,953.06 0.00 0.00 3,466,372.26 Oak Brook Firefighters' Pension Fund Member Contribution Report As of Month Ended June 30, 2020 See Accountants' Compilation Report 9-1 43 of 61 Disability Fire Dependent***-**0454105971 Jacobs, Paul R.0$29.40 $29.40 $0.00 $0.00 $0.00 $0.00 $0.00105971 Jacobs, Paul R.0$29.40 $29.40 $0.00 $0.00 $0.00 $0.00 $0.00105971 Jacobs, Paul R.0$29.40 $29.40 $0.00 $0.00 $0.00 $0.00 $0.00***-**0454 Subtotal:$88.20 $88.20 $0.00 $0.00 $0.00 $0.00 $0.00***-**9434105972 Watkins, Garry R.0$32.13 $32.13 $0.00 $0.00 $0.00 $0.00 $0.00***-**9434 Subtotal:$32.13 $32.13 $0.00 $0.00 $0.00 $0.00 $0.00***-**7231105977 White, Jennifer M.0$23.90 $23.90 $0.00 $0.00 $0.00 $0.00 $0.00***-**7231 Subtotal:$23.90 $23.90 $0.00 $0.00 $0.00 $0.00 $0.00Disability Fire Dependent Subtotal:$144.23 $144.23 $0.00 $0.00 $0.00 $0.00 $0.00Duty Disability***-**8873105944 DeWitt, Charles W.0$5,549.73 $5,549.73 $0.00 $0.00 $0.00 $0.00 $0.00Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-144 of 61 ***-**8873 Subtotal:$5,549.73 $5,549.73 $0.00 $0.00 $0.00 $0.00 $0.00***-**8262105945 Garrigan, William H.0$5,543.77 $5,543.77 $0.00 $0.00 $0.00 $0.00 $0.00***-**8262 Subtotal:$5,543.77 $5,543.77 $0.00 $0.00 $0.00 $0.00 $0.00***-**0790105946 Harris, Scott B.0$4,603.67 $5,168.02 $0.00 $64.35 $0.00 $0.00 $0.00105946 Payment to Chase Bank, Harris -0$500.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**0790 Subtotal:$5,103.67 $5,168.02 $0.00 $64.35 $0.00 $0.00 $0.00***-**5183105958 Horn, Arthur W.0$3,271.77 $3,271.77 $0.00 $0.00 $0.00 $0.00 $0.00***-**5183 Subtotal:$3,271.77 $3,271.77 $0.00 $0.00 $0.00 $0.00 $0.00***-**0454105971 Jacobs, Paul R.0$3,715.47 $3,852.39 $0.00 $136.92 $0.00 $0.00 $0.00***-**0454 Subtotal:$3,715.47 $3,852.39 $0.00 $136.92 $0.00 $0.00 $0.00***-**7304105948 Mylin, Robert P.0$2,244.06 $2,244.06 $0.00 $0.00 $0.00 $0.00 $0.00Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-245 of 61 ***-**7304 Subtotal:$2,244.06 $2,244.06 $0.00 $0.00 $0.00 $0.00 $0.00***-**4308105966 Naus, Gary P.0$5,529.93 $5,559.94 $0.00 $0.00 $0.00 $0.00 $30.01***-**4308 Subtotal:$5,529.93 $5,559.94 $0.00 $0.00 $0.00 $0.00 $30.01***-**9998105974 Richter, Frank H.0$4,553.81 $4,553.81 $0.00 $0.00 $0.00 $0.00 $0.00***-**9998 Subtotal:$4,553.81 $4,553.81 $0.00 $0.00 $0.00 $0.00 $0.00***-**6778105973 Smyth, Sean F.0$1,855.59 $1,855.59 $0.00 $0.00 $0.00 $0.00 $0.00***-**6778 Subtotal:$1,855.59 $1,855.59 $0.00 $0.00 $0.00 $0.00 $0.00***-**9434105972 Watkins, Garry R.0$2,193.07 $2,963.46 $770.39 $0.00 $0.00 $0.00 $0.00***-**9434 Subtotal:$2,193.07 $2,963.46 $770.39 $0.00 $0.00 $0.00 $0.00***-**7231105977 White, Jennifer M.0$4,611.43 $4,611.43 $0.00 $0.00 $0.00 $0.00 $0.00***-**7231 Subtotal:$4,611.43 $4,611.43 $0.00 $0.00 $0.00 $0.00 $0.00Duty Disability Subtotal:$44,172.30 $45,173.97 $770.39 $201.27 $0.00 $0.00 $30.01Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-346 of 61 Non-Duty Disability***-**6678105964 Huffman, Lawrence W.0$1,992.20 $1,992.20 $0.00 $0.00 $0.00 $0.00 $0.00***-**6678 Subtotal:$1,992.20 $1,992.20 $0.00 $0.00 $0.00 $0.00 $0.00Non-Duty Disability Subtotal:$1,992.20 $1,992.20 $0.00 $0.00 $0.00 $0.00 $0.00Occupational Disability***-**8830105956 Petter, Raymond H.0$4,281.87 $5,185.14 $903.27 $0.00 $0.00 $0.00 $0.00***-**8830 Subtotal:$4,281.87 $5,185.14 $903.27 $0.00 $0.00 $0.00 $0.00Occupational Disability Subtotal:$4,281.87 $5,185.14 $903.27 $0.00 $0.00 $0.00 $0.00QILDRO***-**2551Q115823 Broderick, Mary E.0$1,372.27 $1,449.75 $0.00 $0.00 $0.00 $0.00 $77.48***-**2551 Subtotal:$1,372.27 $1,449.75 $0.00 $0.00 $0.00 $0.00 $77.48***-**2950Q105978 Stevens, Frances0$1,156.50 $1,156.50 $0.00 $0.00 $0.00 $0.00 $0.00***-**2950 Subtotal:$1,156.50 $1,156.50 $0.00 $0.00 $0.00 $0.00 $0.00Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-447 of 61 ***-**0876Q105979 Zamboni, Alida M.0$1,028.99 $1,028.99 $0.00 $0.00 $0.00 $0.00 $0.00***-**0876 Subtotal:$1,028.99 $1,028.99 $0.00 $0.00 $0.00 $0.00 $0.00QILDRO Subtotal:$3,557.76 $3,635.24 $0.00 $0.00 $0.00 $0.00 $77.48Service***-**4555105963 Bahnsen, Mark C.0$4,646.25 $6,311.37 $0.00 $0.00 $0.00 $0.00 $964.50105963 Benistar/Hartford 6795307$700.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**4555 Subtotal:$5,346.87 $6,311.37 $0.00 $0.00 $0.00 $0.00 $964.50***-**2533105962 Bodony, James G.0$8,414.57 $11,106.58 $778.07 $0.00 $0.00 $0.00 $1,913.94***-**2533 Subtotal:$8,414.57 $11,106.58 $778.07 $0.00 $0.00 $0.00 $1,913.94***-**1229105953 Brazel, John T.0$7,295.56 $9,082.06 $0.00 $0.00 $0.00 $0.00 $1,602.39105953 USAA Life Insurance Company305$184.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**1229 Subtotal:$7,479.67 $9,082.06 $0.00 $0.00 $0.00 $0.00 $1,602.39Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-548 of 61 ***-**2895105960 Cronholm, Robert R.0$5,087.77 $6,458.14 $0.00 $0.00 $0.00 $0.00 $1,370.37***-**2895 Subtotal:$5,087.77 $6,458.14 $0.00 $0.00 $0.00 $0.00 $1,370.37***-**1038105954 Ekkert, Clifford A.0$4,388.01 $6,646.32 $1,698.67 $0.00 $0.00 $0.00 $559.64***-**1038 Subtotal:$4,388.01 $6,646.32 $1,698.67 $0.00 $0.00 $0.00 $559.64***-**9954117571 Erickson, Michael D.0$4,531.41 $4,878.97 $0.00 $0.00 $0.00 $0.00 $347.56***-**9954 Subtotal:$4,531.41 $4,878.97 $0.00 $0.00 $0.00 $0.00 $347.56***-**2832105955 Fleishman, Mark L.0$5,083.17 $5,702.87 $0.00 $0.00 $0.00 $0.00 $619.70***-**2832 Subtotal:$5,083.17 $5,702.87 $0.00 $0.00 $0.00 $0.00 $619.70***-**2243105951 Kovarik, Joseph0$6,650.33 $7,822.01 $379.92 $0.00 $0.00 $0.00 $791.76***-**2243 Subtotal:$6,650.33 $7,822.01 $379.92 $0.00 $0.00 $0.00 $791.76***-**0972105957 Lindeman, William H.$4,554.01 $5,379.89 $825.88 $0.00 $0.00 $0.00 $0.00Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-649 of 61 0***-**0972 Subtotal:$4,554.01 $5,379.89 $825.88 $0.00 $0.00 $0.00 $0.00***-**1392105950 Mager Jr, Arthur C.0$5,041.17 $6,091.89 $0.00 $0.00 $0.00 $0.00 $1,050.72***-**1392 Subtotal:$5,041.17 $6,091.89 $0.00 $0.00 $0.00 $0.00 $1,050.72***-**3533105943 McEllin, Thomas J.0$2,436.66 $10,490.63 $136.92 $0.00 $0.00 $0.00 $719.09105943 Blue Cross Blue Shield - Illinois308$597.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00105943 Payment to Radius, McEllin -0$6,600.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**3533 Subtotal:$9,634.62 $10,490.63 $136.92 $0.00 $0.00 $0.00 $719.09***-**1242105952 Morton Jr, Robert J.0$8,079.57 $9,169.51 $0.00 $0.00 $0.00 $0.00 $1,089.94***-**1242 Subtotal:$8,079.57 $9,169.51 $0.00 $0.00 $0.00 $0.00 $1,089.94***-**9900105941 Nielsen, Robert D.0$6,671.79 $7,993.45 $0.00 $0.00 $0.00 $0.00 $1,321.66***-**9900 Subtotal:$6,671.79 $7,993.45 $0.00 $0.00 $0.00 $0.00 $1,321.66Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-750 of 61 ***-**7971105940 O'Rourke, William T.0$3,685.00 $4,185.26 $0.00 $0.00 $0.00 $0.00 $500.26***-**7971 Subtotal:$3,685.00 $4,185.26 $0.00 $0.00 $0.00 $0.00 $500.26***-**7761109373 Robertson, Robert V.0$5,005.06 $5,780.88 $0.00 $0.00 $0.00 $0.00 $775.82***-**7761 Subtotal:$5,005.06 $5,780.88 $0.00 $0.00 $0.00 $0.00 $775.82***-**3107105970 Schoppe, Mark S.0$6,194.53 $6,815.23 $0.00 $0.00 $0.00 $0.00 $620.70***-**3107 Subtotal:$6,194.53 $6,815.23 $0.00 $0.00 $0.00 $0.00 $620.70***-**5958105967 Schultz, Dennis M.0$5,531.51 $6,431.33 $0.00 $0.00 $0.00 $0.00 $899.82***-**5958 Subtotal:$5,531.51 $6,431.33 $0.00 $0.00 $0.00 $0.00 $899.82***-**1708105976 Sittig, Daryl L.0$6,270.93 $7,269.18 $0.00 $0.00 $0.00 $0.00 $720.38105976Aetna306$277.87 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**1708 Subtotal:$6,548.80 $7,269.18 $0.00 $0.00 $0.00 $0.00 $720.38Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-851 of 61 ***-**2658109052 Stanfa, Thomas P.0$6,394.16 $7,551.47 $0.00 $0.00 $0.00 $0.00 $1,157.31***-**2658 Subtotal:$6,394.16 $7,551.47 $0.00 $0.00 $0.00 $0.00 $1,157.31***-**0086105942 Stevens, Anthony J.0$3,982.43 $5,712.64 $0.00 $0.00 $0.00 $1,156.50 $573.71***-**0086 Subtotal:$3,982.43 $5,712.64 $0.00 $0.00 $0.00 $1,156.50 $573.71***-**1446105961 Templin, Charles E.0$5,092.95 $5,821.08 $0.00 $35.52 $0.00 $0.00 $692.61***-**1446 Subtotal:$5,092.95 $5,821.08 $0.00 $35.52 $0.00 $0.00 $692.61***-**4489115497 Vassios, Theodore W.0$5,177.88 $7,159.27 $0.00 $0.00 $0.00 $1,449.75 $531.64***-**4489 Subtotal:$5,177.88 $7,159.27 $0.00 $0.00 $0.00 $1,449.75 $531.64***-**0884105949 Wies, Konrad R.0$6,115.32 $8,834.72 $1,698.67 $0.00 $0.00 $0.00 $1,020.73***-**0884 Subtotal:$6,115.32 $8,834.72 $1,698.67 $0.00 $0.00 $0.00 $1,020.73***-**9958105969 Zamboni, James F.$4,783.29 $6,449.89 $0.00 $0.00 $0.00 $1,028.99 $451.61Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-952 of 61 0105969 Blue Cross Blue Shield of Illinois309$186.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**9958 Subtotal:$4,969.29 $6,449.89 $0.00 $0.00 $0.00 $1,028.99 $451.61Service Subtotal:$139,659.89 $169,144.64 $5,518.13 $35.52 $0.00 $3,635.24 $20,295.86Surviving Spouse***-**3678105975 Clark, Ruth A.0$3,976.85 $4,963.93 $0.00 $0.00 $0.00 $0.00 $987.08***-**3678 Subtotal:$3,976.85 $4,963.93 $0.00 $0.00 $0.00 $0.00 $987.08***-**5784108043 Cote, Mary A.0$3,685.86 $4,090.96 $0.00 $0.00 $0.00 $0.00 $405.10***-**5784 Subtotal:$3,685.86 $4,090.96 $0.00 $0.00 $0.00 $0.00 $405.10***-**8646108045 DiIorio, Margaret0$2,846.72 $2,846.72 $0.00 $0.00 $0.00 $0.00 $0.00***-**8646 Subtotal:$2,846.72 $2,846.72 $0.00 $0.00 $0.00 $0.00 $0.00***-**4859105968 Grodek, Margaret A.0$3,147.86 $3,742.15 $0.00 $0.00 $0.00 $0.00 $594.29***-**4859 Subtotal:$3,147.86 $3,742.15 $0.00 $0.00 $0.00 $0.00 $594.29Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-1053 of 61 ***-**5979108044 Heitschel-Arling, Joyce A.0$2,687.94 $3,390.67 $350.31 $0.00 $0.00 $0.00 $352.42***-**5979 Subtotal:$2,687.94 $3,390.67 $350.31 $0.00 $0.00 $0.00 $352.42***-**3386105965 Lundahl, Roberta M.0$2,994.94 $2,994.94 $0.00 $0.00 $0.00 $0.00 $0.00***-**3386 Subtotal:$2,994.94 $2,994.94 $0.00 $0.00 $0.00 $0.00 $0.00***-**5763108042 Meyers, Gail C.0$4,070.43 $4,070.43 $0.00 $0.00 $0.00 $0.00 $0.00***-**5763 Subtotal:$4,070.43 $4,070.43 $0.00 $0.00 $0.00 $0.00 $0.00***-**0714105947 Pine, Joanne F.0$4,672.46 $4,672.46 $0.00 $0.00 $0.00 $0.00 $0.00***-**0714 Subtotal:$4,672.46 $4,672.46 $0.00 $0.00 $0.00 $0.00 $0.00Surviving Spouse Subtotal:$28,083.06 $30,772.26 $350.31 $0.00 $0.00 $0.00 $2,338.89Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroSee Accountants' Compilation Report 10-1154 of 61 Batches 41961Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDentalInsuranceMisc QILDRODeductFederal TaxMultiple Batch ReportCheck Date6/30/2020 1RetroTotalsACH FlagPaymentsNet Payment TotalGrossMedicalInsuranceDentalInsuranceMisc QILDRO Deduct Federal TaxYesNo55560$219,944.75$1,946.56$221,891.31$256,047.68$0.00$256,047.68$7,542.10$0.00$7,542.10$236.79$0.00$236.79$0.00$0.00$0.00$3,635.24$0.00$3,635.24$22,742.24$0.00$22,742.24See Accountants' Compilation Report 10-1255 of 61 Check Invoice Check Date Number Vendor Name Amount Amount 04/03/20 50089 Sawyer Falduto Asset Management, LLC 52-190-01 1Q20 Investment Manager/Advisor Fee 13,572.00 Check Amount 13,572.00 04/20/20 30198 Lauterbach & Amen, LLP 52-170-06 #44577 03/20 PSA 650.00 52-170-03 #44577 03/20 Accounting Service 1,115.00 ACH Amount (Direct Deposit)1,765.00 04/30/20 30196 Village of Oak Brook - Insurance 20-220-00 Dental Insurance - 04/20 236.79 20-220-00 Medical Insurance - 04/20 7,542.10 Check Amount 7,778.89 04/30/20 30197 Internal Revenue Service 20-230-00 Internal Revenue Service 22,237.01 ACH Amount (Direct Deposit)22,237.01 05/05/20 30199 Mesirow Insurance Services, Inc 52-150-01 04/30/20 - 04/30/21 #1344117 0.00 52-150-01 Policy #MGL001481804 4,482.00 ACH Amount (Direct Deposit)4,482.00 05/06/20 30200 Foster & Foster, Inc 52-170-01 #16797 FYE19 Actuarial 3,500.00 ACH Amount (Direct Deposit)3,500.00 05/26/20 30203 Illinois Department of Insurance 52-290-34 FYE21 IDOI Fee G71190 5,283.58 Check Amount 5,283.58 05/29/20 30201 Village of Oak Brook - Insurance 20-220-00 Medical Insurance - 05/20 7,542.10 20-220-00 Dental Insurance 236.79 Check Amount 7,778.89 05/29/20 30202 Internal Revenue Service 20-230-00 Internal Revenue Service 22,237.01 ACH Amount (Direct Deposit)22,237.01 06/08/20 30204 Village of Oak Brook* 52-170-02 Baker Tilly #BT1616974 320.00 52-170-02 Baker Tilly #BT1581307 2,000.00 52-170-02 Baker Tilly #BT1547698 1,000.00 52-170-02 Reimburse FYE19 Audit 0.00 Check Amount 3,320.00 Oak Brook Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts April 1, 2020 - June 30, 2020 See Accountants' Compilation Report 11-1 56 of 61 Check Invoice Check Date Number Vendor Name Amount Amount 06/30/20 30205 Village of Oak Brook - Insurance 20-220-00 Dental Insurance - 06/20 236.79 20-220-00 Medical Insurance - 06/20 7,542.10 Check Amount 7,778.89 06/30/20 30206 Internal Revenue Service 20-230-00 Internal Revenue Service 22,742.24 ACH Amount (Direct Deposit)22,742.24 Total Payments 122,475.51 Oak Brook Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts April 1, 2020 - June 30, 2020 See Accountants' Compilation Report 11-2 57 of 61 Organization: Year: Hours Required Hours Completed Date Completed Cert on File 8 CTE 1 1/29/2020 No 1 4/28/2020 No 4 Hours Required Hours Completed Date Completed Cert on File 8 CTE 1 1/29/2020 No 1 4/28/2020 No 4 Hours Required Hours Completed Date Completed Cert on File 8 CTE 1 1/29/2020 No 1 4/28/2020 No 4 2 6/24/2020 Yes Hours Required Hours Completed Date Completed Cert on File 8 CTE 1 4/28/2020 No 4 Hours Required Hours Completed Date Completed Cert on File 16 CTTE 1 4/28/2020 No 4 Jim Bodony Gino Picciola Certified Trustee Training Type of Training Sawyer Falduto Continuing Education Session Sawyer Falduto Continuing Education Session SB 1300 - Mandatory Consolidation Training Oak Brook Firefighters' Pension Fund Sawyer Falduto Continuing Education Session SB 1300 - Mandatory Consolidation Training OMA FOIA SB 1300 Training - REGISTERED (IPFA) SB 1300 Training - REGISTERED (IPFA) Sawyer Falduto Continuing Education Session Type of Training Kevin Tan Sawyer Falduto Continuing Education Session Type of Training Timothy Schlindwein Sawyer Falduto Continuing Education Session SB 1300 Training - IFPIF Sawyer Falduto Continuing Education Session Type of Training Type of Training Sawyer Falduto Continuing Education Session January 1, 2020 - December 31, 2020 John Fagan 58 of 61 16-hour Certified Trustee Programs* offered through IPPFA IPPFA Online Certified Trustee Programs Registration is online at the IPPFA website www.ippfa.org/education/trustee-program/ Cost: IPPFA Member: $ 550.00 IPPFA Non-Member: $1050.00 *On December 18, 2019, Governor J.B. Pritzker signed SB 1300, making it Public Act 101-0610. This act will consolidate all Article 3 and 4 pension fund’s investment assets. Under Public Act 101-0610, training requirements have now been reduced from 32-hours to 16-hours of new trustee training, however all pension trustees will still need 4-hours of mandatory consolidation transition training. All Article 3 & 4 Pension Trustees elected or appointed are required to complete the 16-hour trustee certification course within 18 months of election or appointment to the board. 59 of 61 8-hour Trustee Program* offered through IPFA IPFA Trustee Training Program Registration is online at the IPFA website www.ipfaonline.org DATE: Friday, November 6, 2020 WHERE: Empress Banquets 200 E Lake Street Addison, IL 60101 60 of 61 61 of 61