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Home My WebLink About2018 Retiree Health Ins. Agendas & Minutes City of Elgin Retiree Health Insurance Trust Agenda First Floor Conference Room, South Wing Scheduled Meeting 9:00 a.m. February 5, 2018 A. Call to Order B. Roll Call C. Approval of Minutes D. Reports 1. Investments Report with Mike Piotrowski E. Miscellaneous Items 1. Welcome Joseph Evers, New Board Member F. Executive Session G. Adjournment C CITY OF ELGIN RETIREE I IEALTI I INSURANCE TRUST FUND MINUTES FEBRUARY 5, 2018 The City of Elgin Retiree Health Insurance Trust Fund board meeting was called to order at 9:01 a.m. by Debra Nawrocki in City Hall Conference Room One. The roll call was answered by Lori Cirocke, Debra Nawrocki, Gail Cohen, Martin Gregory, and Joseph Evers. Approval of Minutes Gail Cohen made a motion, seconded by Debra Nawtocki, to approve the minutes of November 6, 2017. The vote was unanimous. Reports Investment Reports Mike Piotrowski from Marquette Associates was in attendance. Mike reviewed the 4th Quarter 2017 executive summary report of the Retiree Health Insurance Trust. Included in his report was a review of the asset allocation as well as a performance summary of the Trust and its investment managers. In addition to the executive summary report, Mike provided the Board a market environment summary update. He noted the total fund composite was just over $11 million as of December 31. 2017 which indicates a $2.15 million gain for the year 2017. Mike noted that Marquette is still cautiously optimistic as to where the markets arc heading even with the recent drops of stock market. The markets, he said. are acting in a more rationalized and normalized manner. They believe it is a great start to 2018. Deb Nawrocki noted the trust had an $800,000 unrealized gain as of December 31, 2017. N./like indicated that the fund would realize a portion of the market appreciation when the fund is rebalanced this month. Additionally, the city will be contributing $1.5 million to the trust this month, which will be incorporated as the fund is rebalanced. Mike will run an asset allocation model to better assist in forecasting future returns for the fund. Miscellaneous Items Introduction of Joseph Evers to the Board The board reviewed the summary of election results for the 2018 election for the open board seat. Joseph Evers was the winner with a total of 45 votes. William II Potts, Jr. came in second with 44 votes. William -Mike" Baker received 9 votes. C r Executive Session No Executive Session was called. There being no further business, a motion was made by Joseph Evers, seconded by Martin Gregory, to adjourn the meeting. The vote was unanimous. The meeting was adjourned at 9:22 a.m. Respectfully submitted, -5"/7 // Debra Nawrocki Chief Financial Officer Date Approved C C City of Elgin Retiree Health Insurance Trust Agenda First Floor Conference Room, South Wing Scheduled Meeting 9:00 a.m. May 7, 2018 A. Call to Order B. Roll Call C. Approval of Minutes D. Reports 1. Investments Report with Mike Piotrowski E. Miscellaneous Items F. Executive Session G. Adjournment r CITY OF ELGIN RETIREE HEALTH INSURANCE TRUST FUND MINUTES MAY 7, 2018 The City of Elgin Retiree Health Insurance Trust Fund board meeting was called to order at 9:05 a.m. by Debra Nawrocki in City Hall Conference Room One. The roll call was answered by Debra Nawrocki, Gail Cohen, Martin Gregory, and Joseph Evers. Lori Grocke was absent. Approval of Minutes Martin Gregory made a motion, seconded by Joseph Evers, to approve the minutes of February 5, 2018. The vote was unanimous. Reports Investment Reports Mike Piotrowski from Marquette Associates was in attendance. Mike reviewed the 1st Quarter 2018 executive summary report of the Retiree Health Insurance Trust. Included in his report was a review of the asset allocation as well as a performance summary of the Trust and its investment managers. In addition to the executive summary report, Mike provided the Board a market environment summary update. The total fund composite was just over $12.3 million as of March 31, 2018. The total fund composite is slightly down for the quarter but in line with the policy benchmark. Mike discussed the performances of individual funds managers and noted that corporate earnings expectations are looking positive. He then went on to discuss a matrix for portfolio options and rebalancing of the investment portfolio. Five scenarios were reviewed which included varying asset allocations, average 10 year returns, and volatility. Marquette's recommendation was portfolio "D". Debra Nawrocki moved to make the changes to option"D", seconded by Joseph Evers. The vote was unanimous. Miscellaneous Items No miscellaneous items were discussed. Executive Session No Executive Session was called. r i r There being no further business, a motion was made by Joseph Evers, seconded by Debra Nawrocki,to adjourn the meeting. The vote was unanimous. The meeting was adjourned at 9:33 a.m. Respectfully submitted, 64-et\ -mac //S-// Debra Nawrocki Chief Financial Officer Date Approved r t r City of Elgin Retiree Health Insurance Trust Agenda NOTICE OF CANCELLATION OF MEETING NOTICE IS HEREBY GIVEN that the August 6, 2018, regularly scheduled meeting of the Retiree Health Insurance Trust is cancelled. The next meeting is scheduled for November 5, 2018, at 9:00 A.M. DATED: July 10, 2018 CITY OF ELGIN By Debra Nawrocki Retiree Health Insurance Trust President r City of Elgin Retiree Health Insurance Trust Agenda First Floor Conference Room, South Wing Scheduled Meeting 9:00 a.m. November 5, 2018 A. Call to Order B. Roll Call C. Approval of Minutes D. Reports 1. Investments Report with Mike Piotrowski E. Miscellaneous Items 1. Schedule for 2019 Board Meetings rF. Executive Session G. Adjournment r /'I CIP CITY OF ELGIN RETIREE HEALTH INSURANCE TRUST FUND �"' CØp MINUTES NOVEMBER 5, 2018 The City of Elgin Retiree Health Insurance Trust Fund board meeting was called to order at 9:00 a.m. by Debra Nawrocki in City Hall Conference Room One. The roll call was answered by Debra Nawrocki, Gail Cohen, Martin Gregory, Joseph Evers, and Lori Grocke. Approval of Minutes Martin Gregory made a motion, seconded by Joseph Evers, to approve the minutes of May 7, 2018. The vote was unanimous. Reports Investment Reports Mike Piotrowski from Marquette Associates was in attendance. Mike reviewed the 3`d Quarter 2018 executive summary report of the Retiree Health Insurance Trust. Included in his report was a review of the asset allocation as well as a performance summary of the Trust and its investment managers. In addition to the executive summary report, Mike provided the Board a market environment summary update. The total fund composite was just over $12.4 million as of September 2018. The total portfolio composite continues to grow. All allocations are in compliance with the investment criteria set by the board. Mike discussed the performances of individual funds managers and noted that corporate earnings expectations are looking positive, in spite of the looming trade war. Interest rates are expected to rise which will affect fixed asset holdings. Mike presented the updated investment policy to the board for discussion. Deb Nawrocki recommended that the board approve the updated investment policy. Joe Evers made a motion, seconded by Deb Nawrocki to approve the updated investment policy. The vote was unanimous. Miscellaneous Items Martin Gregory inquired about the actuary reports and who will be completing the valuations. Deb Nawrocki replied that the Fund will be staying with Foster& Foster. The 2019 Meeting Schedule was presented to the board. Joseph Evers motioned to accept the 2019 Meeting schedule, seconded by Lori Grocke. The vote was unanimous. rExecutive Session No Executive Session was called. There being no further business, a motion was made by Joseph Evers, seconded by Debra Nawroeki, to adjourn the meeting. The vote was unanimous. The meeting was adjourned at 9:29 a.m. Respectfully submitted, --tfCc.t-c>/ .,t) < t9- -/9 Debra Nawrocki Chief Financial Officer Date Approved r r