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Agenda Packet - 04/13/2023 - Firefighter's Pension Fund BoardVILLAGE 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 a ccommodation 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 in -person on Thursday, April 13, 2023 at 9:00 a.m. at 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.Trustee Continuing Education Session: 8:00 a.m. – 9:00 a.m. 2.Call to Order 3.Roll Call 4.Public Comment – Limited to 3 minutes per person 5.Approval of Meeting Minutes a.January 12, 2023 Regular Meeting b.February 23, 2023 Special Meeting 6.Investment Report a.Sawyer Falduto Asset Management, LLC Investment Performance Report b.FPIF – Marquette Associates i.Statement of Results 7.Accountant’s Report – Lauterbach & Amen, LLP a.Monthly Financial Report b.Presentation and Approval of Bills c.Additional Bills, if any d.Review/Update – Cash Management Policy 8.Trustee Training Updates a.Approval of Trustee Training Registration Fees and Reimbursable Expenses 9.Communications and Reports a.Affidavits of Continued Eligibility b.Statements of Economic Interest 10.Applications for Membership/Withdrawals from the Fund 11.Applications for Retirement/Disability Benefits a.Approve Regular Retirement Benefits – Shawn Swagler 12.Old Business 13.New Business a.Certify Board Election Results – Active Member Position b.Board Officer Election – Secretary c.IDOI Annual Statement d.Review Letter of Credit e.Discussion/Possible Action – Authorized Agents and Account Representatives for FPIF 14.Attorney’s Report – Reimer Dobrovolny & LaBardi PC a.Legal Updates b.QILDRO – David Kornfeind 15.Closed Session, if needed 16.Adjournment 1 of 83 2 of 83 Oak Brook Firefighters’ Pension Fund Meeting Minutes – January 12, 2023 Page 2 of 4 A motion was made by Trustee Fagan and seconded by Trustee McCarthy to accept the Sawyer Falduto Investment Performance Review as presented. Motion carried unanimously by voice vote. ACCOUNTANT’S REPORT – LAUTERBACH & AMEN, LLP: Monthly Financial Report and Presentation and Approval of Bills: The Board reviewed the Monthly Financial Report for the eleven- month period ended November 30, 2022 prepared by L&A. As of November 30, 2022, the net position held in trust for pension benefits is $31,091,156.50 for a change in position of ($6,726,154.35). The Board also reviewed the Cash Analysis Report, Revenue Report, Expense Report, Member Contribution Report, Payroll Journal and Vendor Check Report for the period September 1, 2022 through November 30, 2022 for total disbursements of $483,883.34. A motion was made by Trustee Fagan and seconded by Trustee Bahnsen to accept the Monthly Financial Report as presented and to approve the disbursements shown on the Vendor Check Report in the amount of $483,883.34. Motion carried unanimously by voice vote. Additional Bills, if any: There were no additional bills presented for approval. Review/Update – Cash Management Policy: The Board reviewed the Cash Reserve Balances form for the BMO Harris operating account and discussed upcoming cash needs. A motion was made by Trustee Fagan and seconded by Trustee Lamplot to maintain a target balance in the BMO Harris operating account of $20,000 and once the balance exceeds $40,000, transfer the excess funds to FPIF for investment purposes. Motion carried by roll call vote. AYES: Trustees Fagan, Bahnsen, McCarthy and Lamplot NAYES: None ABSENT: Trustee Picciola TRUSTEE TRAINING UPDATES: The Board discussed upcoming training opportunities. Trustees were reminded to submit any certificates of completion to L&A for recordkeeping. Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training registration fees or reimbursable expenses presented for approval. COMMUNICATIONS AND REPORTS: Affidavits of Continued Eligibility: The Board noted that L&A mailed Affidavits of Continued Eligibility to all pensioners with the December payroll cycle and a due date of January 31, 2023. A status update will be provided at the next regular meeting. Statements of Economic Interest: The Board noted that the List of Filers must be submitted to the County by the Village by February 1, 2023. Statements of Economic Interest will be sent to all registered filers who will need to respond by the deadline of May 1, 2023. APPLICATIONS FOR MEMBERSHIP/WITHDRAWALS FROM FUND: There were no applications for membership or withdrawals from the Fund. APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Approve Regular Retirement Benefits – Brian Bitterlin: The Board reviewed the regular retirement benefit calculation for Brian Bitterlin. Firefighter Bitterlin had an entry date of July 17, 1995; retirement date and effective date of pension of November 8, 2022; 55 years old at date of retirement; 27 years and 3 months creditable service with the Oak Brook Firefighters’ Pension Fund; 2 years and 4 months creditable service with the Chicago Ridge Firefighters’ Pension Fund; combined applicable salary of $123,889.81; and a combined applicable pension percentage of 74.17%. The amount of originally granted annual pension is $89,790.60 and the amount of originally granted monthly pension is $7,482.55. A motion was made by Trustee Fagan and seconded by Trustee McCarthy to approve the regular retirement benefits for Brian Bitterlin calculated by L&A. Motion carried by roll call vote. 3 of 83 Oak Brook Firefighters’ Pension Fund Meeting Minutes – January 12, 2023 Page 3 of 4 AYES: Trustees Fagan, Bahnsen, McCarthy and Lamplot NAYES: None ABSENT: Trustee Picciola OLD BUSINESS: FPIF Status Update and Discussion/Possible Action to be taken on all FPIF Requests Pertaining to Consolidation: The Board noted that there are no additional requests from FPIF pertaining to consolidation. NEW BUSINESS: Approve Annual Cost of Living Adjustments for Pensioners: The Board reviewed the 2023 Cost of Living Adjustments calculated by L&A. A motion was made by Trustee Fagan and seconded by Trustee Lamplot to approve the 2023 Cost of Living Adjustments as required by statute and calculated by L&A. Motion carried by roll call vote. AYES: Trustees Fagan, Bahnsen, McCarthy and Lamplot NAYES: None ABSENT: Trustee Picciola Review Trustee Term Expirations and Election Procedures: The Board noted that the active member term currently held by Trustee Picciola is expiring in April 2023. L&A will conduct an election on behalf of the Pension Fund for one of the two active member Trustee positions. Updated Local Bank Account Collateralization Agreement: The Board reviewed the memorandum prepared by L&A regarding the successor of the third-party custodian from Bank of America to The Bank of New York Mellon to continue collateralization of the BMO Harris Bank operating account. A motion was made by Trustee Fagan and seconded by Trustee McCarthy to table this item until a special meeting yet to be scheduled. Motion carried unanimously by voice vote. Discussion/Possible Action – Pensionable Salary Request: The Board noted that all information has been provided to L&A in regard to the annual pensionable salary request. No further action is needed at this time. Discussion/Possible Action – 2nd Quarter Meeting Date: The Board noted that a special meeting for the Oak Brook Firefighters’ Pension Fund will be scheduled for February 23, 2023 at 9:00 a.m. in the Butler Government Center, located at 1200 Oak Brook Road, Oak Brook, Illinois 60523. The Board also noted that the second quarter regular meeting scheduled for April 20, 2023 will now be held on April 13, 2023 at 9:00 a.m. in the Butler Government Center, located at 1200 Oak Brook Road, Oak Brook, Illinois 60523. ATTORNEY’S REPORT – REIMER DOBROVOLNY & LABARDI PC: Legal Updates: The Board was provided with the Legal and Legislative Update quarterly newsletter from Reimer Dobrovolny & LaBardi PC. CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Fagan and seconded by Trustee Bahnsen to adjourn the meeting at 10:06 a.m. Motion carried unanimously by voice vote. 4 of 83 Oak Brook Firefighters’ Pension Fund Meeting Minutes – January 12, 2023 Page 4 of 4 The next regular meeting is scheduled for April 13, 2023 at 9:00 a.m. Board President or Secretary Approved by the Board of Trustees on _______________________ Minutes prepared by Molly Weslow, Pension Services Administrator, Lauterbach & Amen, LLP 5 of 83 6 of 83 Oak Brook Firefighters’ Pension Fund Meeting Minutes – February 23, 2023 Page 2 of 2 CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Fagan and seconded by Trustee Picciola to adjourn the meeting at 10:38 a.m. Motion carried unanimously by voice vote. The next regular meeting is scheduled for April 13, 2023 at 9:00 a.m. Board President or Secretary Approved by the Board of Trustees on _______________________ Minutes prepared by Molly Weslow, Pension Services Administrator, Lauterbach & Amen, LLP 7 of 83 Quarterly Investment Performance Report 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 St. Elmhurst, IL 60126 O: (630) 941‐8560 www.sawyerfalduto.com As of March 31, 2023 8 of 83 Table of Contents Cash Flow and Performance Review ............................................................................................................................................................................... 3 Portfolio Value vs Cumulative Net Investment ............................................................................................................................................................... 4 Holdings ........................................................................................................................................................................................................................... 5 Transactions .................................................................................................................................................................................................................... 6 Market Commentary ....................................................................................................................................................................................................... 7 Oak Brook Firefighters' Pension Fund As of March 31 2023 There may be a slight difference in the ending value between this report and the Schwab statement due to accrued income, timing of transactions, and/or rounding. The Schwab statement continues to be the official custodial record for the account. SFAM Page 2 of 10 9 of 83 Disclosures Information in this report was compiled using data from the custodian available as of the publishing date. While we believe the data to be reliable,we do not independently verify pricing and valuation data. Please refer to the official statements provided by the account custodian. All date period references are on a calendar year basis. Fiscal year reports are available upon request. Past performance does not guarantee future investment results. Performance Review Index Quarter 1 Return Year to Date Return S&P 500 Composite 7.5%7.5% Russell 2000 2.7%2.7% MSCI EAFE Net 8.5%8.5% Blended FI 2.9%2.9% M-Star MMF 1.0%1.0% Long-Term Performance Index 1 YearReturn 3 YearReturn 5 YearReturn 10 YearReturn S&P 500 Composite (7.7%)18.6%11.2%12.2% Russell 2000 (11.6%)17.5%4.7%8.0% MSCI EAFE Net (1.4%)13.0%3.5%5.0% Blended FI (3.3%)(2.4%)1.1%1.1% M-Star MMF 2.3%0.8%1.2%0.8% Returns for periods exceeding 12 months are annualized. Cash Flow Quarter 1 Year to Date Beginning Market Value $285,263 $285,263 Contributions / Additions $1,086,504 $1,086,504 Distributions ($1,072,710)($1,072,710) Income/Expenses $943 $943 Ending Market Value $300,000 $300,000 Oak Brook Firefighters' Pension Fund Cash Flow and Performance Review Oak Brook Firefighters' Pension Fund As of March 31, 2023 SFAM Page 3 of 10 10 of 83 Inception to Date (4/3/2016) Beginning Market Value $0 Receipts of Securities $19,470,298 Contributions / Additions $13,240,443 Distributions ($45,248,623) Ending Market Value $300,000 Investment Return $12,837,882 Oak Brook Firefighters' Pension Fund Portfolio Value vs Cumulative Net Investment Oak Brook Firefighters' Pension Fund As of March 31, 2023 SFAM Page 4 of 10 11 of 83 Weight Description Symbol Moody'sRating S&PRating Quantity Value CurrentYield AnnualIncome Cash Equivalent Cash Equivalent Cash Equivalent 100.0%Schwab Government Money Fund SWGXX $300,000 4.4%$13,110 100.0%Total $300,000 4.4%$13,110 Oak Brook Firefighters' Pension Fund Holdings Oak Brook Firefighters' Pension Fund As of March 31, 2023 SFAM Page 5 of 10 12 of 83 Trade Date Activity Description Quantity Amount Accrued Interest 3/27/2023 Withdrawal Schwab Government Money Fund $154,652 3/24/2023 Deposit Schwab GovernmentMoney Fund $153,691 3/15/2023 Income (Reinvested Dividend) Schwab Government Money Fund 960.93 $961 3/8/2023 Withdrawal Schwab Government Money Fund $151,424 3/7/2023 Deposit Schwab GovernmentMoney Fund $151,431 3/6/2023 Expense (Management Fee) Schwab Government Money Fund $500 2/15/2023 Expense (Management Fee) Schwab Government Money Fund $500 2/15/2023 Income (ReinvestedDividend)Schwab GovernmentMoney Fund 992.49 $992 1/19/2023 Withdrawal Schwab Government Money Fund $499,592 1/18/2023 Deposit Schwab Government Money Fund $499,602 1/17/2023 Income (ReinvestedDividend)Schwab GovernmentMoney Fund 489.35 $489 1/9/2023 Expense (Management Fee) Schwab Government Money Fund $500 1/9/2023 Withdrawal Schwab Government Money Fund $267,043 1/6/2023 Deposit Schwab GovernmentMoney Fund $281,780 Oak Brook Firefighters' Pension Fund From December 31, 2022 to March 31, 2023 Transactions Oak Brook Firefighters' Pension Fund As of March 31, 2023 SFAM Page 6 of 10 13 of 83 14 of 83 15 of 83 16 of 83 17 of 83 Illinois Firefighters’ Pension Investment Fund Monthly Summary January 31, 2023 *Preliminary,subject to change 18 of 83 19 of 83 Ending January 31, 2023 Asset Class Market Value % of Portfolio Policy % Total Fund Composite $7,649,570,928 100.0%100.0% Total Fund Composite excl. Member Funds $7,649,570,809 100.0%100.0% Total Equity Composite $4,973,513,405 65.0%65.0% U.S. Equity Composite $2,684,537,611 35.1%36.0% Rhumbline Russell 200 Large-Cap Core $1,833,416,398 24.0%25.0% Rhumbline Russell Midcap Mid-Cap Core $693,540,754 9.1%9.0% Rhumbline S&P 600 Small-Cap Core $157,580,459 2.1%2.0% Non-U.S. Equity Composite $2,288,975,794 29.9%29.0% International Developed Equity Composite $1,505,494,424 19.7%19.0% SSGA World ex US Non-U.S. Large-Cap Core $1,277,461,903 16.7%16.0% SSGA World ex US Small Non-U.S. Small-Cap Core $228,032,521 3.0%3.0% Emerging Markets Equity Composite $783,481,369 10.2%10.0% SSGA MSCI EM Emerging Markets $633,714,784 8.3%8.0% SSGA EM Small EM Small-Cap $149,766,586 2.0%2.0% Total Fixed Income Composite $2,210,043,077 28.9%30.0% Rate Sensitive Composite $1,981,632,759 25.9%27.0% Treasury Inflation Protected Securities Composite $218,506,504 2.9%3.0% SSGA TIPS TIPS $218,506,504 2.9%3.0% Core Fixed Income Composite $1,763,126,255 23.0%24.0% SSGA Intermediate Credit Int. Fixed Income $672,689,555 8.8%9.0% SSGA Intermediate Treasury Int. Fixed Income $442,435,151 5.8%6.0% SSGA Securitized MBS Fixed Income $437,302,529 5.7%6.0% SSGA Long Treasury Long-Term Fixed Income $210,699,020 2.8%3.0% Credit Fixed Income Composite $228,410,317 3.0%3.0% Emerging Markets Debt Composite $228,410,317 3.0%3.0% SSGA EM Global Diversified EM Fixed Income $228,410,317 3.0%3.0% Total Real Estate Composite $373,956,564 4.9%5.0% Core Real Estate Composite $373,956,564 4.9%5.0% Public Real Estate Composite $134,783,169 1.8%2.0% SSGA FTSE NAREIT U.S. REIT $134,783,169 1.8%2.0% Private Real Estate Composite $239,173,395 3.1%3.0% Principal USPA Fund Core Real Estate $239,173,395 3.1%3.0% Cash Composite $92,003,192 1.2%0.0% Transition Composite $54,571 0.0%0.0% Member Funds Composite $119 0.0%0.0% Total Fund Composite Asset Allocation Market Value: $7,649.6 Million and 100.0% of Fund 2 Marquette Associates, Inc.20 of 83 Ending January 31, 2023 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date Total Fund Composite 5.7 9.3 -6.8 -------5.2 Oct-21 IFPIF Policy Benchmark 5.8 9.6 -6.7 4.9 4.8 6.8 -4.8 Oct-21 Total Fund Composite excl. Member Funds 5.7 9.3 -6.7 -------6.8 Oct-21 IFPIF Policy Benchmark 5.8 9.6 -6.7 4.9 4.8 6.8 -7.5 Oct-21 Total Equity Composite 7.4 11.9 -7.0 -------8.5 Oct-21 MSCI ACWI IMI Net USD 7.4 11.1 -7.6 6.9 5.4 8.2 -9.2 Oct-21 U.S. Equity Composite 6.9 6.0 -8.1 -------9.0 Oct-21 Russell 3000 6.9 5.9 -8.2 9.5 9.1 12.3 -9.4 Oct-21 Rhumbline Russell 200 6.1 5.0 -10.4 -------9.7 Oct-21 Russell Top 200 6.1 5.0 -10.3 9.9 9.9 13.1 -9.6 Oct-21 Rhumbline Russell Midcap 8.3 8.6 -3.4 -------8.2 Oct-21 Russell MidCap 8.3 8.6 -3.3 9.0 8.0 11.1 -8.1 Oct-21 Rhumbline S&P 600 9.5 6.4 -0.9 -------5.0 Oct-21 S&P 600 SmallCap 9.5 6.4 -0.9 10.5 7.3 11.2 -5.0 Oct-21 Non-U.S. Equity Composite 8.0 19.8 -6.2 -------8.1 Oct-21 MSCI ACWI ex USA IMI 8.0 19.6 -6.1 3.8 1.3 4.4 -8.5 Oct-21 International Developed Equity Composite 8.1 19.1 -3.3 -------6.5 Oct-21 MSCI World ex USA IMI NR USD 8.1 19.1 -3.8 4.4 2.2 5.0 -6.8 Oct-21 SSGA World ex US 8.2 19.1 -2.6 -------5.5 Oct-21 MSCI World ex USA 8.2 19.1 -3.0 4.6 2.5 4.9 -5.7 Oct-21 SSGA World ex US Small 7.6 18.6 -7.8 -------12.6 Oct-21 MSCI World ex USA Small Cap 7.7 18.7 -8.2 3.3 1.0 6.1 -12.9 Oct-21 Emerging Markets Equity Composite 7.9 21.2 -11.9 -------11.8 Oct-21 MSCI Emerging Markets IMI 7.6 21.1 -11.8 2.2 -1.2 2.2 -12.4 Oct-21 SSGA MSCI EM 8.4 22.8 -12.9 -------12.6 Oct-21 MSCI Emerging Markets 7.9 22.2 -12.1 1.4 -1.5 2.1 -12.8 Oct-21 SSGA EM Small 6.1 14.8 -8.9 -------9.8 Oct-21 MSCI Emerging Markets Small Cap 5.9 14.7 -9.1 8.6 1.1 3.5 -9.9 Oct-21 Total Fixed Income Composite 2.8 5.9 -7.6 -------7.4 Oct-21 Bloomberg US Universal TR 3.1 6.6 -8.3 -2.1 1.0 1.7 -8.3 Oct-21 Rate Sensitive Composite 2.7 5.3 -7.1 -------6.9 Oct-21 Bloomberg US Aggregate TR 3.1 6.4 -8.4 -2.3 0.9 1.4 -8.3 Oct-21 Treasury Inflation Protected Securities Composite 0.4 0.4 -1.1 -------0.7 Oct-21 Bloomberg 1-3 Year US TIPS -0.4 -0.3 -1.8 2.3 2.5 1.2 -1.3 Oct-21 SSGA TIPS 0.4 0.4 -1.1 -------0.7 Oct-21 Bloomberg 1-3 Year US TIPS -0.4 -0.3 -1.8 2.3 2.5 1.2 -1.3 Oct-21 Investment Manager Annualized Performance (Net of Fees) Market Value: $7,649.6 Million and 100.0% of Fund Marquette Associates, Inc. 321 of 83 Ending January 31, 2023 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Inception Date Core Fixed Income Composite 3.0 5.9 -7.9 -------7.7 Oct-21 Bloomberg US Aggregate TR 3.1 6.4 -8.4 -2.3 0.9 1.4 -8.3 Oct-21 SSGA Intermediate Credit 2.6 5.4 -5.2 -------5.6 Oct-21 Bloomberg US Credit Int TR 2.4 5.4 -5.2 -0.9 1.7 2.0 -5.6 Oct-21 SSGA Intermediate Treasury 1.7 3.1 -5.1 -------5.1 Oct-21 Bloomberg US Treasury Int TR 1.6 3.1 -5.1 -1.3 1.0 0.9 -5.1 Oct-21 SSGA Securitized 3.3 6.8 -7.6 -------7.4 Oct-21 Bloomberg US Securitized MBS ABS CMBS TR 3.2 6.9 -7.5 -2.3 0.4 1.2 -7.3 Oct-21 SSGA Long Treasury 6.9 12.0 -21.5 -------19.6 Oct-21 Bloomberg US Treasury Long TR 6.4 12.0 -21.5 -7.5 -0.3 1.6 -19.6 Oct-21 Credit Fixed Income Composite 3.0 11.3 -11.9 -------12.1 Oct-21 JP Morgan EMBI Global Diversified 3.2 11.4 -12.7 -4.8 -0.7 2.0 -12.7 Oct-21 Emerging Markets Debt Composite 3.0 11.3 -11.9 -------12.1 Oct-21 JP Morgan EMBI Global Diversified 3.2 11.4 -12.7 -4.8 -0.7 2.0 -12.7 Oct-21 SSGA EM Global Diversified 3.0 11.3 -11.9 -------12.1 Oct-21 JP Morgan EMBI Global Diversified 3.2 11.4 -12.7 -4.8 -0.7 2.0 -12.7 Oct-21 Total Real Estate Composite 2.9 -1.0 -1.5 ------3.4 Oct-21 Real Estate Custom Benchmark 4.3 1.2 0.9 7.8 8.3 9.0 4.5 Oct-21 Core Real Estate Composite 2.9 -1.0 -1.5 ------3.4 Oct-21 Real Estate Custom Benchmark 4.3 1.2 0.9 7.8 8.3 9.0 4.5 Oct-21 Public Real Estate Composite 10.7 11.0 -10.1 -------7.7 Oct-21 FTSE NAREIT Equity REIT 10.7 11.0 -10.1 2.9 6.7 7.2 -7.7 Oct-21 SSGA FTSE NAREIT 10.7 11.0 -10.1 -------7.7 Oct-21 FTSE NAREIT Equity REIT 10.7 11.0 -10.1 2.9 6.7 7.2 -7.7 Oct-21 Private Real Estate Composite -1.0 -6.6 2.3 ------10.1 Oct-21 NFI-ODCE Equal Weighted 0.0 -5.1 7.6 9.7 8.3 9.5 11.4 Oct-21 Principal USPA Fund -1.0 -6.6 2.3 ------10.1 Oct-21 NFI-ODCE Equal Weighted 0.0 -5.1 7.6 9.7 8.3 9.5 11.4 Oct-21 Investment Manager Annualized Performance (Net of Fees) Market Value: $7,649.6 Million and 100.0% of Fund 4 Marquette Associates, Inc.22 of 83 Marquette Associates, Inc. 5 Illinois Firefighters' Pension Investment Fund Fee Schedule 23 of 83 24 of 83 DISCLOSURE Marquette Associates, Inc. (“Marquette”) has prepared this document for the exclusive use by the client or third party for which it was prepared. The information herein was obtained from various sources, including but not limited to third party investment managers, the client's custodian(s) accounting statements, commercially available databases, and other economic and financial market data sources. The sources of information used in this document are believed to be reliable. Marquette has not independently verified all of the information in this document and its accuracy cannot be guaranteed. Marquette accepts no liability for any direct or consequential losses arising from its use. The information provided herein is as of the date appearing in this material only and is subject to change without prior notice. Thus, all such information is subject to independent verification and we urge clients to compare the information set forth in this statement with the statements you receive directly from the custodian in order to ensure accuracy of all account information. Past performance does not guarantee future results and investing involves risk of loss. No graph, chart, or formula can, in and of itself, be used to determine which securities or investments to buy or sell. Forward‐looking statements, including without limitation any statement or prediction about a future event contained in this presentation, are based on a variety of estimates and assumptions by Marquette, including, but not limited to, estimates of future operating results, the value of assets and market conditions. These estimates and assumptions, including the risk assessments and projections referenced, are inherently uncertain and are subject to numerous business, industry, market, regulatory, geo‐ political, competitive, and financial risks that are outside of Marquette's control. There can be no assurance that the assumptions made in connection with any forward‐ looking statement will prove accurate, and actual results may differ materially. The inclusion of any forward‐looking statement herein should not be regarded as an indication that Marquette considers forward‐looking statements to be a reliable prediction of future events. The views contained herein are those of Marquette and should not be taken as financial advice or a recommendation to buy or sell any security. Any forecasts, figures, opinions or investment techniques and strategies described are intended for informational purposes only. They are based on certain assumptions and current market conditions, and although accurate at the time of writing, are subject to change without prior notice. Opinions, estimates, projections, and comments on financial market trends constitute our judgment and are subject to change without notice. Marquette expressly disclaims all liability in respect to actions taken based on any or all of the information included or referenced in this document. The information is being provided based on the understanding that each recipient has sufficient knowledge and experience to evaluate the merits and risks of investing. Marquette is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Marquette including our investment strategies, fees and objectives can be found in our ADV Part 2, which is available upon request. 25 of 83 Oak Brook Firefighters Pension Fund Disclaimer / Important Information: The Plan Total reflects the total of underlying plan balances, and may not be equal to the sum of displayed columns. Although this report has been prepared using information believed to be reliable, it may contain information provided by third parties or derived from third party information, and/or information that may have been obtained from, categorized or otherwise reported based upon client direction. The Northern Trust Company does not guarantee the accuracy, timeliness or completeness of any such information. The information included in this report is intended to assist clients with their financial reporting needs, but you must consult with your accountants, auditors and/or legal counsel to ensure your accounting and financial reporting complies with applicable laws, regulations and accounting guidance. The Northern Trust Company and its affiliates shall have no responsibility for the consequences of investment decisions made in reliance on information contained in this report. NTAC:3NS-20 Statement of Results Illinois Firefighters Pension Investment Fund Currency: USD ($)February 2023 2023 YTD Beginning NAVs: Beginning NAV 31,882,866.98 29,710,890.29 Contributions 286.81 767,033.47 Withdrawals 300,000.00 600,000.00 Net Time Weighted Activity -160,488.94 Allocation Balance 31,722,378.05 Allocation Percent 0.41% Income & Expenses: Unrealized Gain/Loss -847,137.55 849,725.51 Realized Gain/Loss -1,397.90 -8,476.09 Dividend Income 19,883.56 31,152.54 Interest Income 5,901.58 11,193.18 Other Income -- Total Income -822,750.31 883,595.14 Administrator Expenses (FPIF)-- Other Fee & Expenses (FPIF)2,838.41 3,929.03 Other Expenses 20.65 45.45 Management Fee 614.69 614.69 Performance Fee -- Total Fee & Expenses 3,473.75 4,589.17 Net Income -826,224.06 879,005.97 Ending NAVs: Ending NAV 30,756,929.73 30,756,929.73 Rate of Returns: Return on Invested Capital -2.60%2.98% Return on Total Assets -2.60%2.96% Ownership 0.41% 26 of 83 Monthly Financial Report For the Month Ended February 28, 2023 Prepared By 668 N. RIVER ROAD • NAPERVILLE, ILLINOIS 60563 PHONE 630.393.1483 • FAX 630.393.2516 www.lauterbachamen.com 27 of 83 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 28 of 83 29 of 83 March 25, 2023 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 February 28,2023 and the related statement of changes in net position -modified cash basis for the two 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 Lauterbach & Amen, LLP 1-1 30 of 83 31 of 83 Assets Cash and Cash Equivalents 52,504.78$ Investments at Fair Market Value Money Market Mutual Funds 610,134.52 Pooled Investments 30,756,929.73 Total Cash and Investments 31,419,569.03 Prepaids 1,572.66 Total Assets 31,421,141.69 Liabilities Expenses Due/Unpaid 1,195.00 Total Liabilities 1,195.00 Net Position Held in Trust for Pension Benefits 31,419,946.69 Oak Brook Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of February 28, 2023 See Accountants' Compilation Report 2-1 32 of 83 Additions Contributions - Municipal 764,137.36$ Contributions - Members 45,107.14 Total Contributions 809,244.50 Investment Income Interest and Dividends Earned 45,654.96 Net Change in Fair Value 841,249.42 Total Investment Income 886,904.38 Less Investment Expense (5,564.37) Net Investment Income 881,340.01 Total Additions 1,690,584.51 Deductions Administration 5,871.68 Pension Benefits and Refunds Pension Benefits 556,855.78 Refunds 0.00 Total Deductions 562,727.46 Change in Position 1,127,857.05 Net Position Held in Trust for Pension Benefits Beginning of Year 30,292,089.64 End of Period 31,419,946.69 Oak Brook Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Two Months Ended February 28, 2023 See Accountants' Compilation Report 2-2 33 of 83 34 of 83 35 of 83 03/31/2204/30/2205/31/2206/30/2207/31/2208/31/2209/30/2210/31/2211/30/2212/31/2201/31/2302/28/23Financial InstitutionsHarris Bank - CK 14,917$6,583 13,952 13,080 14,954 12,969 214,961 370,032 73,786 15,163 36,742 52,50514,917 6,583 13,952 13,080 14,954 12,969214,961 370,032 73,786 15,163 36,742 52,505Schwab - MM 636,323513,988 898,607 855,384 740,587 492,969 513,892 459,105 454,565 565,659 453,691 610,135636,323 513,988 898,607 855,384 740,587 492,969 513,892 459,105 454,565 565,659 453,691 610,135Total651,240 520,571 912,559 868,464 755,541 505,938 728,853 829,137 528,351 580,822 490,433 662,640ContributionsContributions in Lieu of Tax Levy129,245 131,071 129,520 194,280 129,520- 265,367141,212 127,080 240,732 630,904 133,233Contributions - Current Year22,133 22,444 22,180 33,270 22,180 22,180 23,259 23,384 22,537 41,048 22,389 22,718151,378 153,515 151,700 227,550 151,700 22,180 288,626 164,596 149,617 281,780 653,293 155,951ExpensesPension Benefits264,472 264,472 264,472 264,685264,685 264,685 264,685 264,685 270,422 272,167 278,428 278,428Administration683 28,226 5,766 19,906 1,031 12,290 5,649 2,540 7,217 255 1,615 9,821265,155 292,698 270,238 284,591 265,716 276,975 270,334 267,225 277,639 272,422 280,043 288,249Total Contributions less Expenses(113,777) (139,183) (118,538) (57,041) (114,016) (254,795)18,292(102,629) (128,022)9,358 373,250(132,298)Oak Brook Firefighters' Pension FundCash Analysis ReportFor the Twelve Periods Ending February 28, 2023See Accountants' Compilation Report4-136 of 83 37 of 83 Contributions Contributions - Municipal 41-240-00 - Contributions in Lieu of Tax Levy 133,232.98$764,137.36 133,232.98 764,137.36 Contributions - Members 41-410-00 - Contributions - Current Year 22,718.20 45,107.14 22,718.20 45,107.14 Total Contributions 155,951.18 809,244.50 Investment Income Interest and Dividends 43-102-09 - Harris Bank - #318-320-9 37.56 44.60 43-252-05 - Schwab - Fixed Income #2043-3707 992.49 2,865.54 43-800-01 - IFPIF Consolidated Pool Dividend 19,883.56 31,152.54 43-800-02 - IFPIF Consolidated Pool Interest 5,901.58 11,193.18 43-800-03 - IFPIF Contribution Interest 286.81 399.10 27,102.00 45,654.96 Gains and Losses 44-800-01 - IFPIF Consolidated Pool - Unrealized (847,137.55)849,725.51 44-800-02 - IFPIF Consolidated Pool - Realized (1,397.90) (8,476.09) (848,535.45)841,249.42 Total Investment Income (821,433.45)886,904.38 Total Revenue (665,482.27) 1,696,148.88 Oak Brook Firefighters' Pension Fund Revenue Report as of February 28, 2023 Received Received this Month this Year See Accountants' Compilation Report 6-1 38 of 83 Oak Brook Firefighters' Pension Fund50,000100,000150,000200,000250,000300,000350,000400,000ServiceNon-DutyDisabilityDuty Disability OccupationalDiseaseSurviving Spouse AdministrativeExpenses389,600 4,130 97,485 10,878 54,763 11,436Pension Benefits and ExpensesSee Accountants' Compilation Report 7-139 of 83 Expended Expended this Month this Year Pensions and Benefits 51-020-00 - Service Pensions 194,800.19$389,600.38 51-030-00 - Non-Duty Disability Pensions 2,064.80 4,129.60 51-040-00 - Duty Disability Pensions 48,742.55 97,485.10 51-050-00 - Occupational Disease Pensions 5,438.76 10,877.52 51-060-00 - Surviving Spouse Pensions 27,381.59 54,763.18 Total Pensions and Benefits 278,427.89 556,855.78 Administrative Professional Services 52-170-03 - Accounting & Bookkeeping Services 2,395.00 2,395.00 52-170-04 - Medical Services 2,041.88 2,041.88 52-170-06 - PSA/Court Reporter 1,410.00 1,410.00 5,846.88 5,846.88 Investment 52-190-01 - Investment Manager/Advisor Fees 500.00 1,000.00 52-195-02 - Other Fee & Expenses (IFPIF)2,838.41 3,929.03 52-195-03 - Management Fee (IFPIF)614.69 614.69 52-195-05 - Other Expenses (IFPIF)20.65 20.65 3,973.75 5,564.37 Other Expense 52-290-35 - Other Expense 0.00 24.80 0.00 24.80 Total Administrative 9,820.63 11,436.05 Total Expenses 288,248.52 568,291.83 Oak Brook Firefighters' Pension Fund Expense Report as of February 28, 2023 See Accountants' Compilation Report 8-1 40 of 83 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Babcock, Nicholas W.$119,560.11 1,561.46 0.00 0.00 121,121.57 Bielawa, Matthew G.163,345.55 1,580.37 0.00 0.00 164,925.92 Bowlan, Seth L. 20,478.92 1,193.40 0.00 0.00 21,672.32 Busse, Zachary M.75,292.60 1,523.64 0.00 0.00 76,816.24 Corkey, David B.169,339.14 1,580.37 0.00 0.00 170,919.51 Doran, Connor T.64,751.36 1,523.64 0.00 0.00 66,275.00 Eboli, Adam E.0.00 571.90 0.00 0.00 571.90 Ebsen, Robert T.106,281.83 1,561.46 0.00 0.00 107,843.29 Fagan, John J.156,587.55 2,057.52 0.00 0.00 158,645.07 Fleege, Kevin W.194,598.47 1,518.10 0.00 0.00 196,116.57 Focht, Eric D.28,505.57 1,304.28 0.00 0.00 29,809.85 Janney, Michael E.185,086.60 1,580.37 0.00 0.00 186,666.97 Johnson, Marc E.141,455.32 1,570.91 0.00 0.00 143,026.23 Kaczmarczyk, David R.149,375.63 1,922.38 0.00 0.00 151,298.01 Kelly, Sean P.120,439.20 0.00 0.00 0.00 120,439.20 Kornfeind, David 146,152.79 1,668.11 0.00 0.00 147,820.90 Kushner, Jeffrey A.58,913.81 1,523.64 0.00 0.00 60,437.45 Marciniak, Jeffrey D.247,517.17 2,079.04 0.00 0.00 249,596.21 Matousek, Kyle M.104,841.89 1,814.74 0.00 0.00 106,656.63 Meyers, Daniel B.131,369.14 1,570.91 0.00 0.00 132,940.05 Micek, Robert S. Jr.121,376.11 1,767.37 0.00 0.00 123,143.48 Nyhanna, William R.128,495.12 1,824.20 0.00 0.00 130,319.32 Pavlovic, Michael 191,850.22 2,093.18 0.00 0.00 193,943.40 Picciola, Gino 64,915.03 1,523.64 0.00 0.00 66,438.67 Ruska, Michelle H.164,605.17 1,744.95 0.00 0.00 166,350.12 Samawi, Fouad J.15,885.98 1,210.40 0.00 0.00 17,096.38 Schulz, Samuel J.0.00 571.90 0.00 0.00 571.90 Sinclair, Thomas W. IV 54,501.83 1,504.52 0.00 0.00 56,006.35 Swagler, Shawn M.194,496.87 1,580.37 0.00 0.00 196,077.24 Washington, Glen A.162,066.76 1,580.37 0.00 0.00 163,647.13 3,482,085.74 45,107.14 0.00 0.00 3,527,192.88 Oak Brook Firefighters' Pension Fund Member Contribution Report As of Month Ended February 28, 2023 See Accountants' Compilation Report 9-1 41 of 83 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Oak Brook Firefighters' Pension Fund Member Contribution Report As of Month Ended February 28, 2023 Bitterlin, Brian 249,085.92 0.00 0.00 0.00 249,085.92 Totals 3,731,171.66 45,107.14 0.00 0.00 3,776,278.80 Inactive/Terminated Members See Accountants' Compilation Report 9-2 42 of 83 Disability Fire Dependent***-**0454105971 Jacobs, Paul R.0$32.13 $32.13 $0.00 $0.00 $0.00 $0.00 $0.00105971 Jacobs, Paul R.0$32.13 $32.13 $0.00 $0.00 $0.00 $0.00 $0.00***-**0454 Subtotal:$64.26 $64.26 $0.00 $0.00 $0.00 $0.00 $0.00Disability Fire Dependent Subtotal:$64.26 $64.26 $0.00 $0.00 $0.00 $0.00 $0.00Duty Disability***-**8873105944 DeWitt, Charles W.0$5,835.15 $5,835.15 $0.00 $0.00 $0.00 $0.00 $0.00***-**8873 Subtotal:$5,835.15 $5,835.15 $0.00 $0.00 $0.00 $0.00 $0.00***-**8262105945 Garrigan, William H.0$5,902.72 $5,902.72 $0.00 $0.00 $0.00 $0.00 $0.00***-**8262 Subtotal:$5,902.72 $5,902.72 $0.00 $0.00 $0.00 $0.00 $0.00***-**0790105946 Harris, Scott B.0$5,405.58 $5,488.78 $0.00 $83.20 $0.00 $0.00 $0.00***-**0790 Subtotal:$5,405.58 $5,488.78 $0.00 $83.20 $0.00 $0.00 $0.00Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-143 of 83 ***-**5183105958 Horn, Arthur W.0$3,417.54 $3,417.54 $0.00 $0.00 $0.00 $0.00 $0.00***-**5183 Subtotal:$3,417.54 $3,417.54 $0.00 $0.00 $0.00 $0.00 $0.00***-**0454105971 Jacobs, Paul R.0$3,704.41 $3,852.39 $0.00 $147.98 $0.00 $0.00 $0.00***-**0454 Subtotal:$3,704.41 $3,852.39 $0.00 $147.98 $0.00 $0.00 $0.00***-**7304105948 Mylin, Robert P.0$2,326.29 $2,326.29 $0.00 $0.00 $0.00 $0.00 $0.00***-**7304 Subtotal:$2,326.29 $2,326.29 $0.00 $0.00 $0.00 $0.00 $0.00***-**4308105966 Naus, Gary P.0$5,883.10 $5,905.03 $0.00 $0.00 $0.00 $0.00 $21.93***-**4308 Subtotal:$5,883.10 $5,905.03 $0.00 $0.00 $0.00 $0.00 $21.93***-**9998105974 Richter, Frank H.0$4,830.74 $4,830.74 $0.00 $0.00 $0.00 $0.00 $0.00***-**9998 Subtotal:$4,830.74 $4,830.74 $0.00 $0.00 $0.00 $0.00 $0.00***-**6778105973 Smyth, Sean F.$1,855.59 $1,855.59 $0.00 $0.00 $0.00 $0.00 $0.00Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-244 of 83 0***-**6778 Subtotal:$1,855.59 $1,855.59 $0.00 $0.00 $0.00 $0.00 $0.00***-**9434105972 Watkins, Garry R.0$3,466.58 $4,652.63 $1,186.05 $0.00 $0.00 $0.00 $0.00***-**9434 Subtotal:$3,466.58 $4,652.63 $1,186.05 $0.00 $0.00 $0.00 $0.00***-**7231105977 White Everhart, 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:$47,239.13 $48,678.29 $1,186.05 $231.18 $0.00 $0.00 $21.93Non-Duty Disability***-**6678105964 Huffman, Lawrence W.0$2,064.80 $2,064.80 $0.00 $0.00 $0.00 $0.00 $0.00***-**6678 Subtotal:$2,064.80 $2,064.80 $0.00 $0.00 $0.00 $0.00 $0.00Non-Duty Disability Subtotal:$2,064.80 $2,064.80 $0.00 $0.00 $0.00 $0.00 $0.00Occupational Disability***-**8830105956 Petter, Raymond H.0$4,422.48 $5,438.76 $0.00 $70.10 $946.18 $0.00 $0.00***-**8830 Subtotal:$4,422.48 $5,438.76 $0.00 $70.10 $946.18 $0.00 $0.00Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-345 of 83 Occupational Disability Subtotal:$4,422.48 $5,438.76 $0.00 $70.10 $946.18 $0.00 $0.00QILDRO***-**2551Q115823 Broderick, Mary E.0$1,505.35 $1,584.18 $0.00 $0.00 $0.00 $0.00 $78.83***-**2551 Subtotal:$1,505.35 $1,584.18 $0.00 $0.00 $0.00 $0.00 $78.83***-**0876Q105979 Zamboni, Alida M.0$1,124.41 $1,124.41 $0.00 $0.00 $0.00 $0.00 $0.00***-**0876 Subtotal:$1,124.41 $1,124.41 $0.00 $0.00 $0.00 $0.00 $0.00QILDRO Subtotal:$2,629.76 $2,708.59 $0.00 $0.00 $0.00 $0.00 $78.83Service***-**4555105963 Bahnsen, Mark C.0$5,270.14 $6,896.60 $0.00 $0.00 $0.00 $0.00 $1,026.46105963 Benistar/Hartford 6795442$600.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**4555 Subtotal:$5,870.14 $6,896.60 $0.00 $0.00 $0.00 $0.00 $1,026.46***-**7910124101 Bitterlin, Brian W.0$4,369.31 $7,482.55 $0.00 $0.00 $0.00 $0.00 $713.24124101 Payment to DuPage Credit Union, Bitterlin -$2,400.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-446 of 83 0***-**7910 Subtotal:$6,769.31 $7,482.55 $0.00 $0.00 $0.00 $0.00 $713.24***-**2533105962 Bodony, James G.0$9,146.24 $12,136.46 $0.00 $70.10 $844.64 $0.00 $2,075.48***-**2533 Subtotal:$9,146.24 $12,136.46 $0.00 $70.10 $844.64 $0.00 $2,075.48***-**1229105953 Brazel, John T.0$8,205.32 $9,924.21 $0.00 $0.00 $0.00 $0.00 $1,718.89***-**1229 Subtotal:$8,205.32 $9,924.21 $0.00 $0.00 $0.00 $0.00 $1,718.89***-**2822120198 Clark, Gary E.0$6,913.64 $8,731.05 $0.00 $0.00 $0.00 $0.00 $1,817.41***-**2822 Subtotal:$6,913.64 $8,731.05 $0.00 $0.00 $0.00 $0.00 $1,817.41***-**2895105960 Cronholm, Robert R.0$5,621.66 $7,056.98 $0.00 $0.00 $0.00 $0.00 $1,435.32***-**2895 Subtotal:$5,621.66 $7,056.98 $0.00 $0.00 $0.00 $0.00 $1,435.32***-**1038105954 Ekkert, Clifford A.0$5,799.22 $7,262.61 $0.00 $83.20 $779.34 $0.00 $600.85***-**1038 Subtotal:$5,799.22 $7,262.61 $0.00 $83.20 $779.34 $0.00 $600.85Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-547 of 83 ***-**9954117571 Erickson, Michael D.0$4,962.28 $5,331.38 $0.00 $0.00 $0.00 $0.00 $369.10***-**9954 Subtotal:$4,962.28 $5,331.38 $0.00 $0.00 $0.00 $0.00 $369.10***-**2832105955 Fleishman, Mark L.0$5,581.28 $6,231.69 $0.00 $0.00 $0.00 $0.00 $650.41***-**2832 Subtotal:$5,581.28 $6,231.69 $0.00 $0.00 $0.00 $0.00 $650.41***-**2243105951 Kovarik, Joseph0$7,252.64 $8,547.32 $0.00 $0.00 $458.71 $0.00 $835.97***-**2243 Subtotal:$7,252.64 $8,547.32 $0.00 $0.00 $458.71 $0.00 $835.97***-**0972105957 Lindeman, William H.0$5,405.67 $5,878.76 $0.00 $0.00 $473.09 $0.00 $0.00***-**0972 Subtotal:$5,405.67 $5,878.76 $0.00 $0.00 $473.09 $0.00 $0.00***-**1392105950 Mager Jr, Arthur C.0$5,548.58 $6,656.78 $0.00 $0.00 $0.00 $0.00 $1,108.20***-**1392 Subtotal:$5,548.58 $6,656.78 $0.00 $0.00 $0.00 $0.00 $1,108.20***-**3533105943 McEllin, Thomas J.$3,059.42 $11,463.40 $147.98 $0.00 $0.00 $0.00 $803.07Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-648 of 83 0105943 Payment to Radius, McEllin -0$6,600.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00105943 Blue Cross Blue Shield - Illinois443$852.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**3533 Subtotal:$10,512.35 $11,463.40 $147.98 $0.00 $0.00 $0.00 $803.07***-**1242105952 Morton Jr, Robert J.0$8,876.37 $10,019.78 $0.00 $0.00 $0.00 $0.00 $1,143.41***-**1242 Subtotal:$8,876.37 $10,019.78 $0.00 $0.00 $0.00 $0.00 $1,143.41***-**9900105941 Nielsen, Robert D.0$7,320.55 $8,734.66 $0.00 $0.00 $0.00 $0.00 $1,414.11***-**9900 Subtotal:$7,320.55 $8,734.66 $0.00 $0.00 $0.00 $0.00 $1,414.11***-**7971105940 O'Rourke, William T.0$4,054.50 $4,573.34 $0.00 $0.00 $0.00 $0.00 $518.84***-**7971 Subtotal:$4,054.50 $4,573.34 $0.00 $0.00 $0.00 $0.00 $518.84***-**7761109373 Robertson, Robert V.0$5,509.54 $6,316.93 $0.00 $0.00 $0.00 $0.00 $807.39***-**7761 Subtotal:$5,509.54 $6,316.93 $0.00 $0.00 $0.00 $0.00 $807.39Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-749 of 83 ***-**3107105970 Schoppe, Mark S.0$6,783.41 $7,447.19 $0.00 $0.00 $0.00 $0.00 $663.78***-**3107 Subtotal:$6,783.41 $7,447.19 $0.00 $0.00 $0.00 $0.00 $663.78***-**5958105967 Schultz, Dennis M.0$6,063.46 $7,027.69 $0.00 $0.00 $0.00 $0.00 $964.23***-**5958 Subtotal:$6,063.46 $7,027.69 $0.00 $0.00 $0.00 $0.00 $964.23***-**1708105976 Sittig, Daryl L.0$6,896.85 $7,943.24 $0.00 $0.00 $0.00 $0.00 $768.52105976Aetna Health & Life Insurance Co441$277.87 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**1708 Subtotal:$7,174.72 $7,943.24 $0.00 $0.00 $0.00 $0.00 $768.52***-**2658109052 Stanfa, Thomas P.0$7,007.12 $8,251.69 $0.00 $0.00 $0.00 $0.00 $1,244.57***-**2658 Subtotal:$7,007.12 $8,251.69 $0.00 $0.00 $0.00 $0.00 $1,244.57***-**1446105961 Templin, Charles E.0$5,597.52 $6,360.85 $0.00 $38.69 $0.00 $0.00 $724.64***-**1446 Subtotal:$5,597.52 $6,360.85 $0.00 $38.69 $0.00 $0.00 $724.64Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-850 of 83 ***-**4489115497 Vassios, Theodore W.0$5,356.57 $7,823.13 $0.00 $0.00 $0.00 $1,584.18 $882.38***-**4489 Subtotal:$5,356.57 $7,823.13 $0.00 $0.00 $0.00 $1,584.18 $882.38***-**0884105949 Wies, Konrad R.0$7,691.37 $9,653.93 $0.00 $83.20 $811.99 $0.00 $1,067.37***-**0884 Subtotal:$7,691.37 $9,653.93 $0.00 $83.20 $811.99 $0.00 $1,067.37***-**9958105969 Zamboni, James F.0$5,237.38 $7,047.97 $0.00 $0.00 $0.00 $1,124.41 $479.18105969 Blue Cross Blue Shield of Illinois444$207.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00***-**9958 Subtotal:$5,444.38 $7,047.97 $0.00 $0.00 $0.00 $1,124.41 $479.18Service Subtotal:$164,467.84 $194,800.19 $147.98 $275.19 $3,367.77 $2,708.59 $23,832.82Surviving Spouse***-**3678105975 Clark, Ruth A.0$4,043.64 $4,963.93 $0.00 $0.00 $0.00 $0.00 $920.29***-**3678 Subtotal:$4,043.64 $4,963.93 $0.00 $0.00 $0.00 $0.00 $920.29***-**5784108043 Cote, Mary A.$3,685.86 $4,090.96 $0.00 $0.00 $0.00 $0.00 $405.10Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-951 of 83 0***-**5784 Subtotal:$3,685.86 $4,090.96 $0.00 $0.00 $0.00 $0.00 $405.10***-**8646108045 Di Iorio, 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$3,172.41 $3,742.15 $0.00 $0.00 $0.00 $0.00 $569.74***-**4859 Subtotal:$3,172.41 $3,742.15 $0.00 $0.00 $0.00 $0.00 $569.74***-**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 $0.00Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSee Accountants' Compilation Report 10-1052 of 83 Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroSurviving Spouse Subtotal:$25,486.46 $27,381.59 $0.00 $0.00 $0.00 $0.00 $1,895.13See Accountants' Compilation Report 10-1153 of 83 Batches 59617Oak Brook Firefighters' Pension FundSSNFamily ID Employee NameAlt Payee NameACHCheck #Net AmountMemberGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRODeductFederal TaxMultiple Batch ReportCheck Date2/28/2023 1RetroTotalsACH FlagPaymentsNet Payment TotalGrossMedicalInsuranceDental-VisionInsuranceBenistarInsuranceQILDRO Deduct Federal TaxYesNo51455$244,436.93$1,937.80$246,374.73$281,136.48$0.00$281,136.48$1,334.03$0.00$1,334.03$576.47$0.00$576.47$4,313.95$0.00$4,313.95$2,708.59$0.00$2,708.59$25,828.71$0.00$25,828.71See Accountants' Compilation Report 10-1254 of 83 Check Invoice Check Date Number Vendor Name Amount Amount 12/12/22 30342 Lauterbach & Amen, LLP 52-170-03 #72412 FYE21 MCR 365.00 ACH Amount (Direct Deposit)365.00 12/12/22 30343 Lauterbach & Amen, LLP 52-170-03 #73098 11/22 Accounting & Benefits 1,180.00 52-170-06 #73098 11/22 PSA 695.00 ACH Amount (Direct Deposit)1,875.00 12/14/22 30347 The Northern Trust Company 13-800-01 Oak Brook Firefighters Pension Fund 154,564.67 ACH Amount (Direct Deposit)154,564.67 12/14/22 50130 Sawyer Falduto Asset Management, LLC 52-190-01 Investment Manager/Advisor Fee 500.00 Check Amount 500.00 12/30/22 30344 Bestco Hartford 20-220-00 Medical Insurance - 12/22 4,281.30 ACH Amount (Direct Deposit)4,281.30 12/30/22 30345 Village of Oak Brook - Insurance 20-220-00 Medical Insurance - 12/22 1,434.03 20-220-00 Dental-Vision Insurance 563.37 Check Amount 1,997.40 12/30/22 30346 Internal Revenue Service 20-230-00 Internal Revenue Service 25,897.32 ACH Amount (Direct Deposit)25,897.32 12/31/22 50130 IFPIF 52-290-35 Other Expenses 124.93 52-195-01 Administrator Expenses 2,586.20 52-195-02 Other Fee & Expenses 1,185.89 52-195-03 Management Fee 606.55 Check Amount 4,503.57 01/09/23 50131 Sawyer Falduto Asset Management, LLC 52-190-01 Investment Manager/Advisor Fee 500.00 Check Amount 500.00 01/11/23 30348 The Northern Trust Company 13-800-01 Oak Brook Firefighters Pension Fund 267,042.55 ACH Amount (Direct Deposit)267,042.55 Oak Brook Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts December 1, 2022 - February 28, 2023 See Accountants' Compilation Report 11-1 55 of 83 Check Invoice Check Date Number Vendor Name Amount Amount 01/23/23 30352 The Northern Trust Company 13-800-01 Oak Brook Firefighters Pension Fund 499,591.82 ACH Amount (Direct Deposit)499,591.82 01/31/23 30349 Bestco Hartford 20-220-00 Medical Insurance - 01/23 4,281.30 ACH Amount (Direct Deposit)4,281.30 01/31/23 30350 Village of Oak Brook - Insurance 20-220-00 Medical Insurance - 01/23 1,234.03 20-220-00 Dental-Vision Insurance 589.57 Check Amount 1,823.60 01/31/23 30351 Internal Revenue Service 20-230-00 Internal Revenue Service 25,828.71 ACH Amount (Direct Deposit)25,828.71 01/31/23 50132 IFPIF 52-290-35 Other Expenses 24.80 52-195-02 Other Fee & Expenses 1,090.62 Check Amount 1,115.42 02/14/23 30353 John Endicott, M.D., M.P.H. 52-170-04 IME #13437 White,J 2,041.88 Check Amount 2,041.88 02/15/23 50133 Sawyer Falduto Asset Management, LLC 52-190-01 Investment Manager/Advisor Fee 500.00 Check Amount 500.00 02/27/23 30357 Lauterbach & Amen, LLP 52-170-03 #74861 01/23 Accounting & Benefits 1,215.00 52-170-03 #73929 12/22 Accounting & Benefits 1,180.00 52-170-06 #73929 12/22 PSA 695.00 52-170-06 #74861 01/23 PSA 715.00 ACH Amount (Direct Deposit)3,805.00 02/28/23 30354 Bestco Hartford 20-220-00 Medical Insurance - 02/23 4,313.95 ACH Amount (Direct Deposit)4,313.95 02/28/23 30355 Village of Oak Brook - Insurance 20-220-00 Medical Insurance - 02/23 1,334.03 20-220-00 Dental-Vision Insurance 576.47 Check Amount 1,910.50 Oak Brook Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts December 1, 2022 - February 28, 2023 See Accountants' Compilation Report 11-2 56 of 83 Check Invoice Check Date Number Vendor Name Amount Amount 02/28/23 30356 Internal Revenue Service 20-230-00 Internal Revenue Service 25,828.71 ACH Amount (Direct Deposit)25,828.71 02/28/23 50134 IFPIF 52-195-02 Other Fee & Expenses 2,838.41 52-195-03 Management Fee 614.69 52-195-05 Other Expenses 20.65 Check Amount 3,473.75 Total Payments 1,036,041.45 Oak Brook Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts December 1, 2022 - February 28, 2023 See Accountants' Compilation Report 11-3 57 of 83 58 of 83 03/31/2304/30/2305/31/2306/30/2307/31/2308/31/2309/30/2310/31/2311/30/2312/31/2301/31/2402/29/24Financial InstitutionsCash & MM - Beginning Balance1658,120$ 704,336 750,552 796,768 842,984 889,200 893,191 893,191 893,191 893,191 893,191 893,191 Recurring/ Repeating Transfer2300,000$ 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 Pool - Inflow / (Outflow)- - - - - (42,225) (46,216) (46,216) (46,216) (46,216) (46,216) (46,216) ContributionsEmployer - Estimate3- - - - - - - - - - - - Employee - Estimate428,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 Total Inflows28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 28,541 ExpensesPension Benefits - Estimate5278,428 278,428 278,428 278,428 278,428 278,428 278,428 278,428 278,428 278,428 278,428 278,428 Administration - Estimate63,897 3,897 3,897 3,897 3,897 3,897 3,897 3,897 3,897 3,897 3,897 3,897 Total Outflows282,325 282,325 282,325 282,325 282,325 282,325 282,325 282,325 282,325 282,325 282,325 282,325 Net Inflow / (Ouflow)(253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) (253,784) Projected Ending Balance704,336 750,552 796,768 842,984 889,200 893,191 893,191 893,191 893,191 893,191 893,191 893,191Minimum Balance7423,488 423,488 423,488 423,488 423,488 423,488 423,488 423,488 423,488 423,488 423,488 423,4881first month's beginning balance = prior month's Cash Balance, including Money Market balances5estimate = prior month actual2recurring transfer from consolidated fund is set at current month's election6estimate = the average of prior 3 months actual, & that amount carried forward3estimate = 4% higher than the same month from the prior year71.5 times Total Outflows4estimate = first month is the average of the prior three months actual, that amount carried forwardOak Brook Firefighters' Pension FundCash Analysis Projection59 of 83 60 of 83 2023 IPPFA Trustee Training Opportunities IPPFA ONLINE SEMINAR COURSE WHEN: Ongoing • Online 8 hr. seminar (Recorded from the 2021 MidAmerican Pension Conference) WHERE: IPPFA Website: www.ippfa.org/education/online-classes/ COST: IPPFA MEMBER: $275.00/seminar IPPFA NON-MEMBER: $525.00/seminar This online seminar agenda includes: • Pension Obligation Bond Panel • Consolidation Update Panel • Mock Disability Trial • Keynote Speaker Admiral Foggo • Ask an Attorney and Legal Updates • Covid-19 Vaccinations and Workplace Rules • Ask an Administrator • Re-Entry into Actie Service and Hot it has Evolved Over Time -this online seminar satisfies 8 hours of the required continuing pension trustee training · IPPFA IN PERSON SEMINAR COURSE WHEN: November 14, 2023 WHERE: John A. Logan College 700 Logan College Road, F104 Carterville, IL 62918 TIME: 8:00 a.m. – 4:30 p.m. COST: IPPFA MEMBER: $225.00 IPPFA NON-MEMBER: $450.00 61 of 83 16-hour Certified Trustee Programs* offered through IPPFA IPPFA ONLINE Certified Trustee Program COST: IPPFA MEMBER: $ 550.00 IPPFA NON-MEMBER: $1,100.00 Registration is online at the IPPFA website www.ippfa.org/education/trustee-program/ IPPFA IN PERSON Certified Trustee Program WHEN: December 5-6, 2023 TIME: 7:30 a.m. – 5:00 p.m. WHERE: NIU Outreach Campus 1120 E. Diehl Road, Room 266 Naperville, IL 60563 COST: IPPFA MEMBER: $500.00 IPPFA NON-MEMBER: $1,000.00 *Walk-ins will be charged an additional $25 Registration is online at the IPPFA website www.ippfa.org/education/trustee-program/ *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. 62 of 83 2023 IPFA SPRING PENSION SEMINAR Friday May 5, 2023 Gold Shift Empress Banquets 200 East Lake Street Addison, IL 60101 630-279-5900 IN-PERSON SEMINAR REGISTRATION FORM Municipality, (please print or type) District, or Firm: _____________________________________________ Address: _________________________________________________ City: ____________________________________________ , IL Zip: ____________ Phone: _____________________________ SEMINAR FEES: IPFA Members: $ 200.00 Non - Members: $ 250.00 Walk-In Registration: $ 270.00 Avoid the walk-in surcharge – register on or before Monday, May 1, 2023 First Name: Last Name: e-mail Address: Member Non-Member ____________________ _________________________ ____________________________________ $_______.___ $_______.____ ____________________ _________________________ ____________________________________ $_______.___ $_______.____ ____________________ _________________________ ____________________________________ $_______.___ $_______.____ ____________________ _________________________ ____________________________________ $_______.___ $_______.____ ____________________ _________________________ ____________________________________ $_______.___ $_______.____ TOTAL CHECK ENCLOSED $_______.____ Payment must accompany this Registration Form and be received in our office on or before Monday, May 1, 2023 to qualify for lower rates. Reservations received after the above date will be charged walk-in registration fee. Requests for refunds also must be received on or before Monday, May 1 for full fee credit. No credits of seminar fees after this date. Please mail the completed form to IPFA, 188 Industrial Drive, Suite 134, Elmhurst, IL 60126-1608, fax it to 630-833-2412, or scan & e-mail to ipfa@aol.com. Any questions, call 630-833-2405. For Tax Reporting Purposes our Federal I.D. Number is: 36-2650496. The Illinois Pension Statute requires continuing education for all pension board members. This seminar provides up to 8 hours of credits. For IPFA Office Use: Date: ___________ Check #: ___________ Amount: _____________ Payer: ________________________________________ ___________________________________________________________________________ 63 of 83 64 of 83 65 of 83 66 of 83 2022 Pension Trustee Training Course Hours Course Titles Credit Hours Articles 3&4 Disability Pension Overview Video 2.5 Hours Duties and Ethical Obligations of a Pension Fund Fiduciary Video 1.5 Hours Board Oversight of Cyber Risk: Before a Breach 2 Hours IL Public Employee Disability Act and Public Safety Employee Benefits Act Video 1.5 Hours Developments and Potential Changes in Federal IL Labor and Employment Laws Video 1.5 Hours Qualified Domestic Relations Order “QILDRO” Video 1.5 Hours Pension Plan Funding 101: The Basics of Public Pension Funding Mechanics Video .75 Hours Pension Plan Assumptions 101: Common Approaches to Setting Actuarial Assumptions Video .75 Hours The IL Freedom of Information Act and Open Meetings Act Video 1.5 Hours Cyber Security Best Practices Video 1 Hour Managing Generational Differences and Unconscious Bias in the Workplace 1.5 Hours How to Identify, Address and Prevent Sexual Harassment and Discrimination Video 1 Hour Let Me Ask You a Question Video 2 Hours 67 of 83 Organization: Year: Hours Required Hours Completed Date Completed Cert on File 8 CTE Hours Required Hours Completed Date Completed Cert on File 16 CTE Hours Required Hours Completed Date Completed Cert on File 8 CTE Hours Required Hours Completed Date Completed Cert on File 8 CTE 4 Jan. 2023 Yes Hours Required Hours Completed Date Completed Cert on File 8 CTE Michael Lamplot Type of Training Michael McCarthy Type of Training IML Training OMA FOIA Mark Bahnsen Type of Training OMA FOIA Rob Ebsen Type of Training Type of Training Certified Trustee Training Oak Brook Firefighters' Pension Fund 2023 John Fagan 68 of 83 OAK BROOK Swagler, Shawn M. FIREFIGHTERS' PENSION FUND Pension Calculation Worksheet Retirement 20-50 REVIEWED AND APPROVED BY PENSION FUND: Trustee:Date:______________Name: ____________________ Signature: _________________________ Treasurer:Date:______________Name: ____________________ Signature: _________________________ Member Name Member Social Security Number xxx-xx- Member Birth Date Member Entry Date 02/15/93 Member Retirement Date 03/04/23 Member Effective Date of Pension 03/05/23 Member Age at Effective Date of Pension 56 Years (Y) & Months (M) of Creditable Service Earned Y 30 M 0 Applicable Salary $105,343.69 Applicable Pension Percentage (APP)75.00% Amount of the Original Monthly Pension Granted to Member $6,583.98 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 03/05/23 Original Benefit (prorated)5,734.43 5,734.43 04/01/23 Original Benefit (full month)849.55 6,583.98 79,007.76 04/01/24 Initial Increase 197.52 6,781.50 81,378.00 01/01/25 Annual 3% COLA 203.45 6,984.95 83,819.40 01/01/26 Annual 3% COLA 209.55 7,194.50 86,334.00 01/01/27 Annual 3% COLA 215.84 7,410.34 88,924.08 01/01/28 Annual 3% COLA 222.31 7,632.65 91,591.80 01/01/29 Annual 3% COLA 228.98 7,861.63 94,339.56 01/01/30 Annual 3% COLA 235.85 8,097.48 97,169.76 01/01/31 Annual 3% COLA 242.92 8,340.40 100,084.80 01/01/32 Annual 3% COLA 250.21 8,590.61 103,087.32 01/01/33 Annual 3% COLA 257.72 8,848.33 106,179.96 01/01/34 Annual 3% COLA 265.45 9,113.78 109,365.36 Personal Data Swagler, Shawn M. Pension Calculation History Description printed: 2/28/202369 of 83 OAK BROOK Swagler, Shawn M. FIREFIGHTERS' PENSION FUND Pension Calculation Worksheet Retirement 20-50 Amount Amount Amount of of Monthly of Annual Date Change Pension Pension 01/01/35 Annual 3% COLA 273.41 9,387.19 112,646.28 01/01/36 Annual 3% COLA 281.62 9,668.81 116,025.72 01/01/37 Annual 3% COLA 290.06 9,958.87 119,506.44 01/01/38 Annual 3% COLA 298.77 10,257.64 123,091.68 01/01/39 Annual 3% COLA 307.73 10,565.37 126,784.44 01/01/40 Annual 3% COLA 316.96 10,882.33 130,587.96 01/01/41 Annual 3% COLA 326.47 11,208.80 134,505.60 01/01/42 Annual 3% COLA 336.26 11,545.06 138,540.72 01/01/43 Annual 3% COLA 346.35 11,891.41 142,696.92 01/01/44 Annual 3% COLA 356.74 12,248.15 146,977.80 01/01/45 Annual 3% COLA 367.44 12,615.59 151,387.08 01/01/46 Annual 3% COLA 378.47 12,994.06 155,928.72 01/01/47 Annual 3% COLA 389.82 13,383.88 160,606.56 01/01/48 Annual 3% COLA 401.52 13,785.40 165,424.80 01/01/49 Annual 3% COLA 413.56 14,198.96 170,387.52 01/01/50 Annual 3% COLA 425.97 14,624.93 175,499.16 01/01/51 Annual 3% COLA 438.75 15,063.68 180,764.16 01/01/52 Annual 3% COLA 451.91 15,515.59 186,187.08 01/01/53 Annual 3% COLA 465.47 15,981.06 191,772.72 01/01/54 Annual 3% COLA 479.43 16,460.49 197,525.88 01/01/55 Annual 3% COLA 493.81 16,954.30 203,451.60 01/01/56 Annual 3% COLA 508.63 17,462.93 209,555.16 01/01/57 Annual 3% COLA 523.89 17,986.82 215,841.84 01/01/58 Annual 3% COLA 539.60 18,526.42 222,317.04 01/01/59 Annual 3% COLA 555.79 19,082.21 228,986.52 01/01/60 Annual 3% COLA 572.47 19,654.68 235,856.16 01/01/61 Annual 3% COLA 589.64 20,244.32 242,931.84 01/01/62 Annual 3% COLA 607.33 20,851.65 250,219.80 01/01/63 Annual 3% COLA 625.55 21,477.20 257,726.40 01/01/64 Annual 3% COLA 644.32 22,121.52 265,458.24 01/01/65 Annual 3% COLA 663.65 22,785.17 273,422.04 01/01/66 Annual 3% COLA 683.56 23,468.73 281,624.76 Description Pension Calculation History - Continued printed: 2/28/202370 of 83 OAK BROOK Swagler, Shawn M. FIREFIGHTERS' PENSION FUND Basic Information Worksheet Retirement 20-50 Entry Date Termination/Retirement Date Years Creditable Service Earned 30 Additions to Creditable Service Reductions to Creditable Service Total Creditable Service 30 Marital Status Married Spouse's Name Spouse's Social Security Number xxx-xx- Spouse's Date of Birth Date of Marriage 11/14/1998 Additions (Days) Creditable Service 02/15/93 03/04/23 Months 0 Swagler, Debra E. 0 Spousal Information - If Applicable Reductions (Days) Printed: 2/28/202371 of 83 OAK BROOK Swagler, Shawn M. FIREFIGHTERS' PENSION FUND Benefit Calculation Worksheet Retirement 20-50 Applicable Salary $105,343.69 Rank @ Last Day of Service Firefighter/Paramedic Years Months Total Creditable Service 30 0 Creditable Service Years 1 to 20 x 2.5%50.00% Creditable Service (# of Years 21 to 30) x 2.5%25.00% Creditable Service (# of Months 1 to 11) x (2.5% / 12)N/A Total (Maximum = 75%)75.00% Original Annual Pension $79,007.76 Monthly $6,583.98 Age @ Retirement Date 56 Date of Initial Increase 04/01/24 Amount of Initial Increase (monthly)$197.52 Required Information Applicable Pension Percentage Amount of Originally Granted Pension Increases in Pension Subsequent COLA increases are granted every January in the amount of 3% of the current benefit. Benefits granted to Survivors do NOT receive COLA Increases. The amount of the initial increase is equal to 1/12 of 3% of the original monthly benefit, times the number of full months that have elapsed since the pension began. The initial increase is granted on the latter of: The month after the member turns 55 OR The month after the member has been retired for one full year. Printed: 2/28/202372 of 83 Elections conducted by Molly Weslow, Pension Services Administrator Lauterbach & Amen, LLP Oak Brook Firefighters’ Pension Fund Board of Trustees ______________________________ Notice of Election Results ______________________________ April 2023 Election Active Member Position Nominations are closed and have resulted in: Rob Ebsen running unopposed for the position of: Active Member Trustee Three-Year Term Expiring April 30, 2026 Rob Ebsen has accepted the position as a member of the Board of Trustees and has agreed to uphold the duties required. 73 of 83 FEDERAL HOME LOAN BANK OF CHICAGO IRREVOCABLE LETTER OF CREDIT NUMBER: 250490 Date: 02/28/2023 Oak Brook Fire Pension Fund 1200 Oak Brook Road Oak Brook, IL 60523 To whom it may concern: At the request and for the account of BMO Harris Bank National Association, a depository institution having its principal offices in Chicago, IL (the "Member"), the Federal Home Loan Bank of Chicago (the "Bank") hereby establishes in your favor as beneficiary (the "Beneficiary") this Irrevocable Letter of Credit No. 250490 (the "Letter of Credit") pursuant to which, subject to the terms and conditions contained herein, the Bank authorizes you to draw on the Bank from time to time up to the maximum amount specified below ("Credit Amount"), at any time from the date hereof until the close of the Bank's business on 02/29/2024 ("Expiration Date"). The Credit Amount shall be US $1,200,000.00. This Letter of Credit is for the benefit of the Beneficiary and it is intended to collateralize deposit accounts that Beneficiary has established at the Member, which accounts are Public Unit Deposit accounts Demands for payment hereunder honored by the Bank shall not exceed the Credit Amount, as such Credit Amount may have been reduced pro tanto by a previous demand for payment honored by the Bank. The amount available hereunder may be reinstated by the Bank at its option. Such reinstatement or pro tanto reduction after demand for payment honored by the Bank shall be accomplished by written notice Funds under this Letter of Credit are available to you hereunder upon your presentation to the Bank, at the address of the Bank set forth below, prior to the Expiration Date, of your certificate in the form of Exhibit A hereto demanding payment in an amount which does not exceed the Credit Amount (as such amount may from time to time have been reduced and reinstated), referring therein to the number of this Letter of Credit. If presentation of your certificate demanding payment is made on or prior to 4:30 p.m. (Central Time) on a Business Day, payment of the amount demanded will be made by means of federal wire transfer or automated clearing house credit, initiated by the Bank from the Bank's own immediately available general funds to the account designated in such certificate by 12:00 noon (Central Time) within three Business Days thereafter. Demands received after 4:30 p.m. (Central Time) shall be deemed to have been received on the next Business Day If a demand for payment made by you hereunder does not, in any instance, conform to the terms and conditions of the Letter of Credit, the Bank shall give you prompt notice that the purported Federal Home Loan Bank of Chicago 433 West Van Buren Street, Suite 501S • Chicago, IL 60607 (312) 565 5700 • wwwfhlbc com (02/2021) DocuSign Envelope ID: 6FDA9A33-D706-4B13-9615-913A4FD166B1 74 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 1 Volume 24, Issue 2, April 2023 Legal and Legislative Update Consolidation Legislation Found Constitutional Arlington Heights Police Pension Fund et al. v. Pritzker et al., 2023 IL App (2d) 220198 The Second District Appellate Court has affirmed the Kane County trial court ruling finding P.A. 101- 610 consolidating Article 3 and 4 pension funds for investment purposes valid. As a refresher, in 2021, certain local police and fire pension funds and their representatives (“Plaintiffs”) filed a three-count complaint in Kane County raising Illinois constitutional issues, including violations of the pension protection clause (Count I), contracts clause (Count II), and/or takings clause (Count III). The trial court granted certain motions to dismiss by Defendants, including the dismissal of all named funds as plaintiffs in the case for lack of standing. In addition, the trial court dismissed Count II for failing to state a cause of action under the contracts clause and entered summary judgment on Counts I and III in favor of Defendants. This appeal arose from the grant of summary judgment to Counts I and III. In This Issue… 1 Consolidation Legislation Found Constitutional 3 Dismounting Patrol Bicycle Not an “Act of Duty” 4 Decision to Terminate Line-of-Duty Disability Reversed 6 Failure to Add Pension Fund to Divorce Results in No Surviving Spouse Benefit for Ex-Spouse 7 FOIA Requires Release of De- Identified Medical Records 9 RDL News 75 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 2 On appeal as to Count I, Plaintiffs argued the Act violates the pension protection clause because it impairs members’ rights to vote in the election of local pension board members and allow the local boards to control and invest local pension funds. According to Plaintiffs, voting rights are a benefit that flows from the contractual relationship, and, therefore, cannot be changed. However, in an opinion filed February 7, 2023, the Appellate Court agreed with the trial court’s finding the Act does not violate the pension protection clause of the Illinois Constitution. The Appellate Court held Plaintiff’s ability to vote in the election of local pension board members and to have that board control and invest local pension funds “is not of the same nature and essentiality” as the ability to participate in the fund, accumulate credit time, or receive health care, disability, and life insurance coverage. According to the Court, voting for local boards is subordinate to a participant’s receipt of pension payment and other assets and choosing who invests funds does not guarantee a particular outcome for benefit payments (i.e., voting for board members who handle funding has no direct impact on the payment of benefits). Noting the pension protection clause does not control the manner in which state and local governments fund their pension obligations, the Court concluded the granting of summary judgment on Count I was proper. With respect to Plaintiffs’ Count III takings clause violation claim, the Court reasserted the same pension protection analysis—while Plaintiffs have a constitutional right to receive pension benefits, “they do not have a property right in any particular assets or level of funding.” Inasmuch as the pension fund plaintiffs were dismissed as parties to the case and no appeal was taken from that order, the Court explained the remaining Plaintiffs are individual active and retiree/beneficiaries of local funds without any right to the investments held by the funds. Rather, they are entitled only to present or future payments from the funds. In other words, Plaintiffs do not own the funds the Act requires to be transferred to the new statewide police and firefighter pension investment funds, and the Act simply requires one type of government-created pension fund to transfer assets to another type of government-created pension fund. As such, the Court found Plaintiffs’ rights to receive benefit payments are not impacted by transfers and concluded the takings clause is neither relevant nor applicable in this case as the “property” at issue is not the private property of Plaintiffs. In sum, the Appellate Court agreed with the trial court’s granting of summary judgment on the remaining Plaintiffs’ (the named funds were dismissed) claims Public Act 101-610 violated the pension protection clause and/or takings clause of the Illinois Constitution. In concluding the Act does not violate the pension protection clause, the Court explained the Constitution does not control the manner in which state and local governments fund their pension obligations and voting for board members who handle funding does not directly impact participants’ eventual pension benefit. Moreover, in finding the takings clause irrelevant in this case, the Court explained Plaintiffs do not have a property right in any particular assets or level of funding, and, therefore, their rights to receive benefit payments are not impacted by the transfers required under the Act. On March 13, 2023, Plaintiff’s filed a Petition for Leave to Appeal with the Illinois Supreme Court. Because the lower courts found the Act valid, review with the Illinois Supreme Court is discretionary meaning the Court can choose whether to hear further appeal. If the Supreme Court declines to hear the appeal, the above Second District Appellate Court opinion would become the final word in this matter. Stay tunes for further developments. Finally, as a reminder, RDL is not involved in this litigation but does serve as general legal counsel for the Illinois Police Officers’ Pension Investment Fund.❖ 76 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 3 Dismounting Patrol Bicycle Not an “Act of Duty” Gonzalez v. The Retirement Board of the Policemen’s Annuity & Benefit Fund of City of Chicago, 2022 IL App (1st) 220737-U This case provides more insight into what police activities constitute “act(s) of duty” under the Pension Code. The Appellate Court concluded an officer’s injury in dismounting a Department- issued bicycle prior to entering the district building to attend a meeting did not meet the statutory requirements for “act of duty” based on the capacity in which the officer was acting at the time of her injury. Plaintiff filed an application for duty disability pension benefits pursuant to §5-154 of the Pension Code, citing a left foot/ankle injury incurred from stepping into a pothole while on duty. Plaintiff incurred the injury after she dismounted from her CPD-issued bicycle outside of the 25th police district building and stepped into a pothole prior to a meeting with her supervisor. Following an evidentiary hearing, the Pension Board denied Plaintiff’s application for duty disability benefits and awarded her an ordinary disability benefit pursuant to §5-155 of the Pension Code, finding her disability was not the result of an injury incurred in the performance of an “act of duty.” In other words, the Pension Board found Plaintiff’s act of dismounting from her CPD-issued patrol bicycle for the purpose of entering the 25th police district building was not an act of police duty “inherently involving special risk, not ordinarily assumed by a citizen in the ordinary walks of life.” Section 5-113 of the Pension Code defines an “act of duty” as: “Any act of police duty inherently involving special risk, not ordinarily assumed by a citizen in the ordinary walks of life, imposed on a policeman by the statutes of this State or by the ordinances or police regulations of the city in which this Article is in effect or by a special assignment; or any act of heroism performed in the city having for its direct purpose the saving of the life or property of a person other than the policeman.” Plaintiff filed an action for administrative review of the Board’s decision, and the circuit court entered an order affirming the Board’s decision. On appeal, Plaintiff argued the Board’s determination her disability was not the result of an injury incurred in the performance of an act of duty is against the manifest weight of the evidence. Plaintiff contended she was injured while performing a “rolling dismount” of the bicycle she was riding during her “sweep” of the 25th district parking lot, which she patrolled as part of her assigned duties. According to Plaintiff, the act of patrolling the parking lot and dismounting the bicycle by means of a specialized maneuver required of a CPD bike patrol officer rises to an “act of duty” as required under the Pension Code. The Appellate Court agreed with the Board Plaintiff was not injured while performing an “act of duty” because she was not (1) performing an act mandated by statute, ordinance or police department regulation; nor (2) acting for the direct purpose of saving life or property; nor (3) acting in a capacity without a civilian counterpart. The Court found the evidence presented before the Pension Board discredits Plaintiff’s assertion she was performing her assigned “sweep” of the parking lot at the time she dismounted the bicycle she was riding and stepped into the pothole. In particular, the Court pointed to Plaintiff’s testimony during the evidentiary hearing before the Board, in which she admitted the sole purpose of dismounting from the bicycle was to enter the district police station; it was not in carrying out her duties as a patrol officer. In doing so, the Court also referenced several instances where Illinois Courts previously found acts of duty that were distinguishable from Plaintiff’s, including pedaling a bicycle while on patrol, attempting a bicycle maneuver during a bicycle-patrol training session, driving a police transport van on routine patrol, and being involved in a motor vehicle accident while on routine patrol. The Court explained, in each instance, the focus of the inquiry was “the capacity in which the officer was acting at the time of his or her injury.” Here, Plaintiff—by her own admission—was not injured while on patrol, but 77 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 4 rather when she was dismounting the bicycle to go into the district building to meet with her supervisor. In addition to the focus being the capacity in which the officer is then acting, the Court stressed the importance of whether the capacity involved “special risk not ordinarily assumed by a citizen in the ordinary walks of life.” See 40 ILCS 5/5-113. In reference to this, Plaintiff argued she dismounted the bicycle using a “rolling dismount” which is a special procedure taught by the CPD that is different from a normal civilian dismount. However, Plaintiff also admitted she was not dismounting to investigate anything in the parking lot, but rather to attend a meeting inside the district building with her supervisor. Thus, the Court agreed with the Board’s finding dismounting a CPD-issued bicycle to attend a meeting does not meet the statutory requirement as an ”act of duty police duty inherently involving special risk not ordinarily assumed by a citizen in the ordinary walks of life.” The risk faced by Plaintiff in dismounting the bicycle was no different than the risks faced by any other individual; her duties as a police officer did not increase such risks. In sum, the Court found the bicycle patrol officer’s injury did not result from an “act of duty” under §5- 113 of the Pension Code by referencing caselaw where similar police activities were found to be act(s) of duty based on the capacity in which the officer was acting at the time of the injury. Here, Plaintiff’s injury was incurred from dismounting a bicycle for the sole purpose of entering a building to attend a meeting. Although her duties included patrolling the parking lot where the injury occurred, Plaintiff was not carrying out a routine patrol assignment at the time of her injury.❖ Decision to Terminate Line-of-Duty Disability Reversed Mahan v. Marion Police Pension Board, 2023 IL App (5th) 210426 In this case, the Appellate Court concluded the Pension Board’s decision to terminate an officer’s disability pension benefit based on an IME doctor’s finding he was no longer disabled was against the weight of the evidence. As described below, this case provides a good example to pension funds as to the specificity required in IME reports in the event a disability decision is reviewed by the courts. In March of 2012, the Plaintiff, a former Marion police officer, filed an application for line-of-duty disability pension benefits based on a duty-related thoracic spine injury. As part of his application, Plaintiff underwent an independent medical examination (“IME”) with Dr. Bernard Rerri, who found him disabled from full, unrestricted duty based on persistent lower neck pain, mid scapular pain, bilateral arm pain, and numbness in his fingers. In addition, Dr. Rerri opined surgery for Plaintiff’s disabling injury carried risk with an unpredictable outcome and would not recommend it as a treatment option. As such, the Pension Board granted Plaintiff’s application for disability pension benefits. Thereafter, Plaintiff underwent annual status reviews before the Pension Board. In 2018, the Pension Board concluded Plaintiff was no longer disabled from full, unrestricted duty based on the opinions and conclusions of its IME doctor, Dr. Joseph Yazdi. The circuit court ultimately reversed the Board’s decision in April of 2019, finding the Board erred in placing weight on Dr. Yazdi’s opinion and rejecting the admission of a functional capacity evaluation (“FCE”) report that demonstrated Plaintiff’s inability to perform full, unrestricted duties from evidence. In March of 2021, the Pension Board conducted its annual status review of Plaintiff’s eligibility for disability pension benefits and sent him for another IME with Dr. Yazdi. As stated in this IME report, Dr. Yazdi performed a physical examination and found Plaintiff suffered from cervical pain radiating to the upper thoracic area as well as intermittent numbness/tingling in his bilateral arms/hands. In addition, Dr. Yazdi responded to the circuit court’s order that had been critical of his opinions and explained his disagreement with the findings of Dr. Rerri. Specifically, Dr. Rerri’s finding Plaintiff’s disability was permanent. Dr. 78 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 5 Yazdi explained Plaintiff’s condition was one that he treats almost daily and therefore outlined the course of treatment he would have advised were he Plaintiff’s treating physician. Based on his evaluation, Dr. Yazdi again found Plaintiff physically able to perform the full, unrestricted duties of a police officer. Plaintiff also presented evidence at the March 2021 status review hearing, including a letter from Dr. Rerri dated February 9, 2021. In his letter, Dr. Rerri concluded Plaintiff’s condition/symptoms had remained the same since his original examination of 2012 (i.e., persistent neck pain, bilateral arm pain, and numbness), and, as a result, was unable to return to full, unrestricted duty. Plaintiff also testified Dr. Rerri recommended he obtain a more recent MRI and undergo additional physical therapy, which he had yet to obtain/undergo at the time of hearing. Following deliberations, the Pension Board voted to terminate Plaintiff’s disability benefits based on a finding he had recovered from his thoracic spine disability. The Pension Board found (1) Dr. Yazdi’s 2020 IME report was credible, (2) Dr. Rerri’s February 2021 letter was unsigned and lacked specificity, and (3) Plaintiff lacked credibility because he made no effort to improve his alleged condition at the recommendation of Dr. Rerri. The Board’s decision to discontinue disability benefits was ultimately affirmed by the circuit court, which Plaintiff subsequently appealed. On appeal, Plaintiff argued the Pension Board’s decision to discontinue benefits in reliance on the 2020 IME Report was improper because the findings and conclusions of Dr. Yazdi were contrary to the remaining evidence in the record. In addition, Plaintiff set forth additional arguments that (1) the Board’s attorney acting as both attorney for the Board and the hearing officer rendered the proceedings unfair, (2) the Board’s attorney erred in not admitting the 2018 FCE, and (3) the Board’s reliance on Dr. Yazdi’s report was erroneous because he was not a licensed physician at the time the 2020 IME report was issued. Based on its review of the administrative record, the Appellate Court found Dr. Yazdi’s 2020 IME report lacked any specific finding Plaintiff was no longer disabled. Instead, the Court found the primary focus of the 2020 IME report was Dr. Yazdi’s response to the circuit court’s order criticizing the findings of his 2018 IME report, which was not made part of the record before the court. In addition, the Court found Dr. Yazdi failed to specify in his report how Plaintiff had actually recovered from his disability and/or how he was not limited to performing full, unrestricted police duties. According to the Court, Dr. Yadzi merely disagreed with Dr. Rerri’s clinical judgment that Plaintiff’s condition was permanent, then set forth a treatment regimen he would have recommended to someone with Plaintiff’s condition. Because the Pension Board relied primarily on Dr. Yazdi’s 2020 IME report, the Court found the Board’s conclusion Plaintiff was no longer disabled from performing full, unrestricted police duties was not supported by sufficient evidence. The Court concluded Dr. Yazdi’s disagreement with Dr. Rerri’s judgment and hypothetical treatment regimen did not equate to evidence Plaintiff had recovered from his disability. In effect, Dr. Yazdi’s 2020 IME report provided no insight as to how Dr. Yazdi arrived at such conclusion. This case illustrates the higher burden required to terminate disability benefits on annual exam. Evidence must be presented the officer has recovered from disability such that they can return to service. It is not an opportunity to re-visit the issue of disability adjudicated at the original hearing. It also shows the significant level of examination reviewing Courts perform on medical reports. Board’s should be careful to ensure the IME reports generated have sufficient basis in the record before making a finding.❖ 79 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 6 Failure to Add Pension Fund to Divorce Results in No Surviving Spouse Benefit for Ex-Spouse Claxton v. Bd. of Trustees of Alton Firefighters’ Pension Fd. et al., 2023 IL App (5th) 220200 Survivor’s benefits for Article 3 and 4 in a divorce proceeding has been a popular topic amongst Illinois’ Appellate Courts of late. While the generally rule is a divorced spouse cannot be a “surviving spouse” for pension purposes, this case presented a unique set of circumstances requiring interpretation of Section 4-114(g) of the Pension Code dealing with ability to set aside of dissolution of marriage between a firefighter and spouse subsequent to the death of the firefighter. Section 4-114(g) provides that if a judgment of dissolution of marriage is judicially set aside subsequent to the death of the firefighter, the surviving spouse becomes eligible for a pension benefit if (1) the judicial proceeding is filed within 2 years after the dissolution of marriage and within one year of the firefighter’s death and (2) the pension board is made a party to the proceedings. In this case, the parties filed for divorce after the retirement of the firefighter. The court entered a judgment of dissolution of marriage while reserving other property issues for future determination. Less than a month after judgment, the firefighter died. The surviving ex-spouse filed a motion to vacate the dissolution of marriage which was denied by the trial court but subsequently reversed in a different appeal. While the prior appeal was pending, the parties advised the pension board they had reached a tentative settlement agreement which would classify the ex-spouse as a surviving spouse for pension purposes. The parties asked the pension board whether it should be made a third party to the pending divorce action to which the board simply replied is would act in accordance with the applicable provisions of the pension code upon receipt of any documents. Based on the settlement agreement, the ex-spouse sought a surviving spouse pension benefit from the pension board. Following a hearing, the board denied benefits finding the parties had not complied with Section 4-114(g) because the pension board had not been made a party to the divorce proceeding seeking to vacate the dissolution of marriage judgment. On administrative review, the trial court reversed the decision of the board and remanded the case with instructions to issue benefits to the ex-spouse. The pension board appealed. The appellate court first found the ex-spouse was not an eligible survivor under Section 4-114(a) because she was not married to the firefighter at the time of his death. As such, the only way she could become eligible for a surviving spouse benefit was through Section 4-114(g). Analyzing Section 4-114(g), the appellate court found the divorce was judicially set aside when the prior appeal vacated the judgment of dissolution. This occurred as the result of a motion filed by the ex-spouse 26 days after entry of the judgment of dissolution and 3 days after the firefighter’s death. As such, the first two requirements of 4-114(g) were satisfied. The only issue was whether the pension board was made a party to the proceedings. There was no question the pension board had not been made a party to the proceedings seeking to vacate the dissolution of marriage. Each party argued the other was responsible for joining the pension board to the prior proceedings. The appellate court pointed out the statute does not place that burden on either the firefighter or ex- spouse. It is for either party to complete the required action. Because neither party did so, the final requirement of Section 4-114(g) could not be satisfied. As a result, the appellate court reversed the decision of the trial court and affirmed the pension board’s finding the ex-spouse was not eligible for a pension benefit.❖ 80 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 7 FOIA Requires Release of De- Identified Medical Records Chicago Sun-Times v. Cook County Health and Hospitals System, 2022 IL 127519 In this case, the Illinois Supreme Court held HIPAA regulations and FOIA exemptions related to personal health information do not prohibit disclosure of the year associated with a gunshot wound patient’s medical records as long as the remaining “individually identifiable health information” is removed to maintain patient confidentiality. Plaintiff, the Chicago Sun-Times, sent Defendant, Cook County Health and Hospitals System, a request under the Freedom of Information Act (FOIA) for information about gunshot wound patients who arrive at Defendant’s emergency rooms unaccompanied by law enforcement. The purpose of the request was related to Plaintiff’s investigation of whether Defendant was meeting a requirement to notify local law enforcement when so-called “walk-in” gunshot wound patients are treated. Plaintiff’s request included the “time/date” of each hospital admission and the corresponding “time/date” of law enforcement notification. In response, Defendant asserted two (2) FOIA exemptions and withheld the records, claiming they contained: (1) personal health information prohibited from disclosure by the Health Insurance Portability and Accountability Act (HIPAA), and (2) private information barred from disclosure under FOIA. Defendant alleged Stroger Hospital was the only entity in the system that possessed records potentially responsive to Plaintiff’s request. Further, Defendant conceded the Hospital’s electronic trauma registry contains entries for each patient arriving at the hospital, and each entry includes the patient’s name, date/time of arrival, medical record number, and the patient’s chief complaint. While Stroger Hospital’s trauma coordinator could generate a report listing only the mechanism of injury (e.g., gunshot wound) and the patient’s time of arrival, such reports would not state whether the patient was accompanied by law enforcement or when law enforcement was notified, if at all. The trauma coordinator would thus need to access the medical record of each gunshot wound patient to determine whether he or she arrived at Stroger Hospital with law enforcement or if law enforcement was notified of the admission. According to Defendant, the trauma registry and patient access log contained protected health information defined by HIPAA and Defendant could not remove enough identifying information from the registry/log to fulfill Plaintiff’s request and still comply with HIPAA. In addition, Defendant claimed the responsive records constituted medical records protected from disclosure under Illinois law. As a result, Plaintiff initiated a FOIA enforcement action arguing the year listed on each record was discoverable, even if the time, day of month, and month were not. The Appellate Court agreed, holding that HIPAA and FOIA allowed the release of the year listed on the records as long as the individual’s identity was redacted to maintain patient confidentiality. Thus, the issue before the Supreme Court was whether the year of each walk- in gunshot wound patient admission and the year of the corresponding law enforcement notification of each admission are exempt from disclosure under section 7 of FOIA, which incorporates privacy laws such as HIPAA and prohibits disclosure of private information including medical records. The Supreme Court held the information requested by Plaintiff is not exempt from disclosure under the FOIA exemptions claimed by Defendant, and Defendant can de-identify the requested records and comply with the request without violating HIPAA’s privacy rule or FOIA’s prohibition against disclosing medical records. Under Section 7(1) of FOIA, when a request is made to inspect or copy a public record that contains information exempt from disclosure, but also contains information that is not exempt from disclosure, the public body may elect to redact the information that is exempt. 81 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 8 The Court explained this exemption exposes the tension between two public policies: FOIA’s promotion of open disclosure of government records and HIPAA’s protection of private health information. However, the Court noted the two statutory schemes can be reconciled to facilitate the disclosure of government records while protecting patient privacy. HIPAA expressly states a covered entity (e.g., Stroger Hospital) may use protected health information to create de-identified information for use by a person other than the covered entity, and health information, once de- identified, no longer meets the standard of “individually identifiable health information” subject to HIPAA’s protection. As such, the Court found Plaintiff specifically asked Defendant to withhold “identifying patient information” and did not seek any other identifiers that could be used to identify an individual. Moreover, the Court found no evidence Defendant had “actual knowledge that the information could be used alone or in combination with other information to identify an individual who is a subject of the information,” since an estimated 2,000 gunshot wound patients were treated at Stroger Hospital during the relevant time period and the risk of identifying any one individual is thus diminished. The Court concluded, under the circumstances, Defendant’s use of the patients’ protected health information to process Plaintiff’s FOIA request would not violate HIPAA’s privacy rule because the year element related to each patient admission and police notification is not “individually identifiable health information.” In doing so, the Court expressly limited its holding to the facts presented, noting the exemption could apply to a future request involving fewer patients where the year element of a record could be used for identification. The Court further held the year element requested by Plaintiff does not constitute “private information” under FOIA and is therefore not exempt under section 7(1)(b). The Court adopted the plain and ordinary meaning of the term “medical records” (i.e., “the documents that compose a medical patient’s healthcare history”) and explained, although the year element requested by Plaintiff is found in medical records, the year element by itself is not a document of patient’s healthcare history. According to the Court, the exemption for private information under Section 7(1)(b) plainly covers “unique identifiers” related to an individual’s medical records. Thus, the removal of uniquely identifying information from a patient’s healthcare history renders the remainder of the document subject to the FOIA. In sum, the Court held the HIPAA regulations and FOIA exemptions cited by Defendant do not bar the release of the year elements of the gunshot wound patient’s medical records as long as the remaining “individually identifiable health information” is removed to maintain patient confidentiality. That said, the Court expressly limited its holding to the specific facts of this case and stated the FOIA exemption(s) could apply to a future request involving fewer patients where the year element of a record could be used for identification. This case serves as a good reminder to those responding to FOIA requests the presumption under the statue favors full disclosure. Even if portions of a records are exempt from disclosure, you may need to provide the record in redacted form.❖ Suggested Agenda Items for July (or 3rd Quarter of 2023) • Semi-annual review of closed executive session minutes to determine what needs to remain confidential. • Election of Board Officers (e.g., President, Secretary, etc.). • Potential selection of independent enrolled actuary for recommended tax levy. • Review status of Trustees’ annual training requirements. 82 of 83 © 2023 REIMER DOBROVOLNY & LABARDI PC 9 REIMER DOBROVOLNY & LABARDI PC NEWS _______________________________________________ Legal and Legislative Update Volume 24, Issue 2, April 2023 This publication constitutes advertising material. Information contained herein should not be considered legal advice. Legal and Legislative Update is published periodically. Questions may be directed to: REIMER DOBROVOLNY & LABARDI PC A Public Safety Law Firm 15 Spinning Wheel Road, Suite 310, Hinsdale, IL 60521 (630) 654-9547 Fax (630) 654-9676 www rdlaborlawpc.com Unauthorized reproduction prohibited. All rights reserved. • March 7, 2023: RDL Managing Partner Rick Reimer presented at the IPPFA new trustee certified trustee training in Naperville. • May 5, 2023: RDL partners Brian LaBardi and Nemura Pencyla will present at the IPFA spring pension conference in Addison. • May 10-12, 2023: RDL managing partner Rick Reimer will present at the IPPFA spring pension conference in Galena. 83 of 83