The Rantoul Police Pension Fund met Sept. 1 to appoint an administrator.
Here is the meeting's agenda, as provided by the city:
Rantoul Police Pension Fund
SEPTEMBER 1, 2016
3:00 PM
A Special meeting of the Rantoul Police Pension Fund Board was held at the Municipal Building,
333 S. Tanner St., Rantoul, IL. President Marc Beach called the meeting to order at 3:04 p.m.
Upon roll call, the following members were found to be present: Marc Beach, Matt Bross, Mike
Daugherty, Gwen McMorris and Mike Tittle.
Public Comments
There were no public comments.
Approval of Minutes
After review, Mike Tittle moved/Matt Bross seconded to approve the minutes from the January 26,
2016, March 29, 2016, April 26, 2016 and July 26, 2016 meetings. Motion carried, all voting “aye”.
Contract with Lauterback & Amend
The actuary firm of Lauterback & Amend provided a proposal for services. If the Board agrees to a
three year term the cost will remain at $4,600.00 annually for the three years. After discussion, on
a roll call vote:Aye: Beach, Bross, Daugherty, McMorris and Tittle - 5
Nay: 0
Absent: 0
Motion approved 5-0.
Levy projections
The proposed levy will increase by approximately $150,000.00 and that will fund the pension at
61% which is down from almost 70%. Scot Brandon said the Administrator is looking at ways of
funding the pension rather than just through property taxes,
Pension Fund Security Administrator
The Department of Insurance requires the Board to appoint an Administrator. Matt Bross
moved/Mike Daugherty second the appointment of Scot Brandon, Comptroller as Administrator.
Motion carried, all voting “aye”
There being no further business before the Board Mike Tittle moved/Matt Bross seconded to
adjourn the meeting. Motion carried, all voting “aye”. Meeting adjourned at 3:20 pm.
Submitted by
Janet Gray, MMC
Deputy Village Clerk
Recording Secretary APPROVED October 25, 2016
__________________________
Marc Beach, President
ATTEST:
______________________________
Gwen McMorris, Secretary
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