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Trustee John Perry Elected
Trustee John Perry The FPIF Board of Trustees and its staff welcomes John Perry (Treasurer, Lisle Woodridge Fire Protection District) to the FPIF Board of Trustees. The FPIF Election Panel certified the election of Treasurer Perry to the Executive Trustee Position (January 3, 2023 Term End) at its meeting on September 30, 2021. Treasurer Perry serves on the Lisle Woodridge ... Trustee John Perry Elected
Trustee Tom Dailly Elected
Trustee Tom Dailly The FPIF Board of Trustees and its staff welcomes Mayor Tom Dailly (Village President, Village of Schaumburg) to the FPIF Board of Trustees. The FPIF Election Panel deemed Mayor Dailly elected to the Executive Trustee Position (January 2, 2025 Term End) at its meeting on August 12, 2021. Trustee Dailly qualified for the ballot ... Trustee Tom Dailly Elected
Official Notice of Transfer Date Delivered
An official Notice of Transfer Date was delivered to each Pension Fund on June 25, 2021. Each Pension Fund was assigned one of four transfer dates: October 1, 2021 November 1, 2021 December 1, 2021 January 4, 2022
FPIF Rule Makings Update
Amendment #1 to Rule 2021-02: Transfer of Assets The FPIF Board of Trustees adopted Amendment #1 to RULE 2021-02: Transfer of Assets. The amendment adds requirements to the Notice of Transfer Date, adds language for the determination of Transition Order, outlines the criteria to be included on Certified Investment Asset Lists, and adds language to ... FPIF Rule Makings Update
FPIF Investment Policy Adopted
FPIF Investment Policy The FPIF Board of Trustees adopted FPIF’s Investment Policy. The Investment Policy formalizes FPIF’s objectives, investment philosophy, and approach to portfolio oversight and risk management. It also establishes FPIF’s asset allocation. The asset allocation includes an interim and long-term asset allocation. The interim asset allocation includes a 30% allocation to fixed income, ... FPIF Investment Policy Adopted
Special Election Rules Adopted
Rule 2021-03 2021 Executive Trustee Special Election Rules The FPIF Board of Trustees adopted the 2021 Executive Trustee Special Election Rules at its meeting on May 28, 2021. The Special Election will fill the vacancies created by Patrick Nichting’s and Jeff Rowitz’s retirements. Under statute, eligible candidates for the Executive Trustee positions include mayors, presidents, ... Special Election Rules Adopted
Transfer Of Assets Rule & Cash Management Policy Adopted
RULE 2021-02 Transfer of Assets RULE 2021-02 Transfer of Assets was approved by the FPIF Board of Trustees today. The rule outlines the process by which FPIF will provide written notice of Transfer Dates, determine Certified Asset Lists, initiate the Transfer of Assets, and provide a Receipt of Transfer. The rule specifically incorporates the processes ... Transfer Of Assets Rule & Cash Management Policy Adopted
Selection Of Custodian and Transition Management Bench
FPIF Custodian The Board of Trustees selected Northern Trust to serve as the FPIF custodian at its meeting on March 19, 2021. Northern Trust is headquartered in Chicago, IL. Northern Trust will provide traditional custodial banking services to FPIF and perform key transition services related to the transfer of investment assets from our 296 Firefighters’ ... Selection Of Custodian and Transition Management Bench
Appointment Of Authorized Agent Rule Adopted
Rule 2021-01 Appointment of Authorized Agent The FPIF Board of Trustees met on March 19, 2021 and approved RULE 2021-01 Appointment of Authorized Agent. The rule creates two Authorized Agents for each pension fund for the purposes of communications with FPIF and to facilitate information sharing between each pension fund’s vendors and FPIF and its vendors. The original draft rule ... Appointment Of Authorized Agent Rule Adopted
Transition Plan Adopted
The FPIF Board of Trustees met on March 19, 2021 and approved the FPIF Asset Transition Plan. Adoption of this plan is a critical step in moving forward towards meeting the FPIF’s statutory duty of consolidating the investment assets of all Article 4 pension funds. The FPIF Asset Transition Plan establishes October 1, 2021 as ... Transition Plan Adopted
FPIF Rule Making Update
The FPIF Board of Trustees will be considering rules to govern the asset transition process and other responsibilities of the FPIF throughout this year. The FPIF encourages public comment on draft rules. Draft rules will be posted on our website on the Pending Rules page. A 1st Public Notice of draft rules will be posted on ... FPIF Rule Making Update
Permanent Board of Trustees
The Permanent Board of Trustees was seated at its meeting on January 4, 2021. The Board of Trustees elected Chuck Sullivan to serve as Chairperson of the Board of Trustees. Brad Cole was elected to serve as Vice Chairman. Matthew Kink was elected as the Board Secretary, and Jeff Rowitz was elected as the Board’s ... Permanent Board of Trustees