October 15th Board of Trustees Meeting

October 15, 2021

The FPIF Board of Trustees met on October 15, 2021 for a regularly scheduled meeting. The Board swore in its newest trustee, Mr. John Perry who serves as Treasurer of the Lisle-Woodridge Fire Protection District.

FPIF staff made a presentation updating the Board on the status of the ongoing consolidation of pension fund investment assets. The October tranche is nearing a successful completion of the process and assets received are in the process of being transitioned into the interim FPIF asset allocation. The FPIF staff and retained professionals are now focused on the November tranche, with Certified Investment Asset Lists having been distributed to November tranche pension funds this morning, Friday, October 15, 2021.

The Board also received an informational presentation from its recently retained actuarial firm, Foster & Foster. Foster & Foster discussed actuarial services including actuarial experience studies, actuarial statements and the role of the FPIF Board of Trustees. Foster & Foster will present on actuarial assumptions before the Audit & Compliance Committee in November and December in advance of the December 13th Board of Trustees meeting.