HR0942 101ST GENERAL ASSEMBLY

HR0942 LRB101 23184 ECR 74324 r

HOUSE RESOLUTION

WHEREAS, The members of the Illinois House of Representatives wishes to congratulate the Transition Board of the Illinois Police Officers' Pension Investment Fund (IPOPIF) for its hard work; and

WHEREAS, the Police Officers' Pension Investment Fund (IPOPIF) was created by the Illinois General Assembly and signed into law by Illinois Governor JB Pritzker on December 18, 2019; and

WHEREAS, Public Act 101-0610 provided for the mandatory consolidation of the investment assets of the state's public safety pension funds into two investment funds, one for police officers (Article 3) and one for firefighters (Article 4); and

WHEREAS, Article 22(B) created the new Illinois Police Officers' Pension Investment Fund to be responsible for the consolidation of the investment assets of the 353 police pension funds and invested with IPOPIF the authority to "manage the reserves, funds, assets, securities, properties and monies" that represent approximately $8.5 billion in pension assets; and

WHEREAS, The investment fund will be governed by an independently elected and autonomous board of trustees, who shall be fiduciaries for the participants and beneficiaries of the Article 3 participating funds and shall discharge their duties with respect to the pension fund solely in the interest of the participants and beneficiaries; and

WHEREAS, On January 30, 2020, Governor JB Pritzker appointed a Transition Board of Trustees consisting of nine members in accordance with 40 ILCS 5/22B-115; and

WHEREAS, Three members representing municipalities who are mayors, presidents, chief executive officers, chief financial officers, or other officers, executives, or department heads of municipalities were appointed:

(1) Elizabeth Holleb, Director of Finance, City of Lake Forest;

(2) Michael Inman, Mayor, City of Macomb; and

(3) Phil Suess, Mayor, City of Wheaton; and

WHEREAS, Three members representing participants and who are participants were appointed:

(1) Shawn Curry, Sergeant, Peoria Police Department;

(2) Andrea DiGiacinto, Police Officer, Libertyville Police Department; and

(3) Brian Prochaska, Detective, Joliet Police Department; and

WHEREAS, Two members representing beneficiaries and who are beneficiaries were appointed:

(1) Dan Hopkins, Retired Police Officer; and

(2) Mark Poulos, Retired Police Lieutenant; and

WHEREAS, One member who is a representative of the Illinois Municipal League was appointed:

(1) Brad Cole, Executive Director, IML; and

WHEREAS, The initial meeting of the Transition Board of Trustees was held in Peoria on February 24, 2020; and

WHEREAS, The IPOPIF's Transition Board of Trustees have met on a monthly basis, at times multiple times in a month, to conduct meetings in order to accomplish the essential goals and objectives associated with building the new organization; and

WHEREAS, The Transition Board of Trustees adopted bylaws, passed resolutions, and approved numerous governance policies that define the scope of their fiduciary responsibilities, describe the roles and responsibilities of the Board and each committee, and define the organizational operating procedures and job descriptions; and

WHEREAS, The Transition Board of Trustees has been very active in the organization and construction of the governance structure and the administration infrastructure necessary to implement the consolidation of the participating police pension funds in accordance with the Illinois Pension Code; and

WHEREAS, The Transition Board of Trustees is appreciated for their dedication and service on behalf of the active and retired police officers and their beneficiaries in the Article 3 participating police pension funds in the implementation of the Consolidation during the transition period; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate the Illinois Police Officers' Pension Investment Fund (IPOPIF) on their continued efforts for pension health and solvency, and we wish them many more successful years; and be it further

RESOLVED, That a suitable copy of this resolution be presented to the Board of Trustees of the Illinois Police Officers' Pension Investment Fund as a symbol of our respect and esteem.