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1.
Ds
BOARD OF TRUSTEES
WEST CHICAGO POLICE PENSION FUND
P.O. BOX 165, WEST CHICAGO, ILLINOIS 60186 — 0165
Board of Trustees, Quarterly Meeting
Thursday, July 15, 2021 at9 A.M.
West Chicago City Hall
Call To Order
a.
Board President John Zurick called the meeting to order at 9:03 A.M.
Roll Call
a.
A quorum was established with Trustee Zurick, Trustee Cargola, Trustee Malkin, and
Trustee Guttman all present. Also present was Board Financial Advisor Tom Sawyer,
Board Attorney Keith Karlson, Board Treasurer Linda Martin, and Derek Flessner from
Lauterbach and Amen.
Approval of the June 25, 2021 Board Meeting Minutes
a.
Trustee Guttman made a motion to approve of the June 25, 2021 Board Meeting Minutes.
The motion was seconded by Trustee Zurick. The motion was approved 4-0.
Public Comment- None
Treasurer’s Report
a.
Board Treasurer, Linda Martin, informed the Board that the City had made the second
quarterly payment for 2021 in the amount of $749,322.00 to the pension fund on
6-29-21.
Investment Manager’s Report
a.
Review and Update to Investment Policy and/or Asset Allocation
1. Tom Sawyer handed out the Quarterly Investment Performance Report for the second
quarter of 2021. He started by reviewing the Investment Policy and no changes were
made at this time. He went through the Cash Flow and Performance Review noting
that we had an Investment Return of $2,001,395 for the second quarter and
$2,848,380 for the YTD. The ending market value for the second quarter was
$40,227,778. The second quarter equity return was 7.8%, fixed income return 1.4%,
and total account return since inception is 10.6%. This has brought the fund an
Investment Return of $15,527,167 since inception. A motion was made by Trustee

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Malkin to accept the Investment Manager's Report. The motion was seconded by
Trustee Cargola. The motion was approved 4-0.
b. Potential Sale or Purchase of Annuities
1. No action was taken at this time.
7. Accountant’s Report
a. Review of Annual Financial Report
1. Derek Flessner from Lauterbach and Amen handed out the Monthly Financial Report
ending in May 31, 2021. He reviewed the Financial Report informing the Board of
the total assets and liabilities as of May 2021, bringing the net position held in trust
for the pension benefits to $42,352,574.84. A motion was made to approve of the
Accountant's Report by Trustee Cargola. The motion was seconded by Trustee
Zurick. The motion was approved 4-0.
8. Actuarial Report
a. Review of Actuarial Report
1. No changes made at this time. Final reports will be available by the October
Quarterly Meeting.
9. Attorney's Report
a. Board Attorney Keith Karlson handed out the Karlson Garza LLC Response Time
Quarterly News For First Responders and reviewed some of the recent pension cases. He
also gave some update to the consolidation of the Police Pension Funds and mentioned
that each Pension Board will get a Authorized Representation for their fund.
10. Approval of Disbursements
a. Approval of the Bills to be Paid in July 2021
1. A motion was made to approve of the Bills to be Paid in July 2021 in the amount of
$9,589.81 by Trustee Guttman, The motion was seconded by Trustee Zurick. Roll
call vote was taken and approved 4-0.
11. Applications for Membership
a. Approval of Ludvin Santos' application for membership
1. Amotion was made to accept Ludvun Santos' application for Tier 2 membership by
Trustee Cargola. The motion was seconded by Trustee Zurick. The motion was
approved 4-0.
b. Approval of Patrick Gary's application for membership
1. A motion was made to accept Patrick Gary's application for Tier 2 membership by
Trustee Cargola. The motion was seconded by Trustee Zurick. The motion was
approved 4-0.

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12. Applications for Benefits- None
13. Applications for Refund- None
14. Old Business- None
15. New Business
a. Election of Board Officers
1. A motion was made to keep all Board Officers the same by Trustee Guttman. The
motion was seconded by Trustee Zurick. Roll call vote was taken and approved 4-0.
John Zurick- President
Bruce Malkin- Vice President
Anthony Cargola- Secretary
Michael Guttman- Assistant Secretary
b. FOIA Officer and OMA Designee
1. A motion was made to keep Trustee Cargola as the FOIA Officer and OMA Designee
by Trustee Guttman. The motion was seconded by Trustee Zurick. Roll call vote was
taken and approved 4-0.
c. Review of Actuarial Valuation and Tax Levy Request
1. No review at this time
d. Review of Municipal Compliance Report
1. No review at this time
16. Executive/Closed Session- None
17. Adjournment
a. A motion was made to adjourn the meeting at 9:31 A.M. by Trustee Guttman. The
motion was seconded by Trustee Zurick. The motion was approved 4-0.