Illinois General Assembly - Full Text of HR0942
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Full Text of HR0942  101st General Assembly




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2    WHEREAS, The members of the Illinois House of
3Representatives wishes to congratulate the Transition Board of
4the Illinois Police Officers' Pension Investment Fund (IPOPIF)
5for its hard work; and
6    WHEREAS, the Police Officers' Pension Investment Fund
7(IPOPIF) was created by the Illinois General Assembly and
8signed into law by Illinois Governor JB Pritzker on December
918, 2019; and
10    WHEREAS, Public Act 101-0610 provided for the mandatory
11consolidation of the investment assets of the state's public
12safety pension funds into two investment funds, one for police
13officers (Article 3) and one for firefighters (Article 4); and
14    WHEREAS, Article 22(B) created the new Illinois Police
15Officers' Pension Investment Fund to be responsible for the
16consolidation of the investment assets of the 353 police
17pension funds and invested with IPOPIF the authority to "manage
18the reserves, funds, assets, securities, properties and
19monies" that represent approximately $8.5 billion in pension
20assets; and
21    WHEREAS, The investment fund will be governed by an



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1independently elected and autonomous board of trustees, who
2shall be fiduciaries for the participants and beneficiaries of
3the Article 3 participating funds and shall discharge their
4duties with respect to the pension fund solely in the interest
5of the participants and beneficiaries; and
6    WHEREAS, On January 30, 2020, Governor JB Pritzker
7appointed a Transition Board of Trustees consisting of nine
8members in accordance with 40 ILCS 5/22B-115; and
9    WHEREAS, Three members representing municipalities who are
10mayors, presidents, chief executive officers, chief financial
11officers, or other officers, executives, or department heads of
12municipalities were appointed:
13        (1) Elizabeth Holleb, Director of Finance, City of Lake
14    Forest;
15        (2) Michael Inman, Mayor, City of Macomb; and
16        (3) Phil Suess, Mayor, City of Wheaton; and
17    WHEREAS, Three members representing participants and who
18are participants were appointed:
19        (1) Shawn Curry, Sergeant, Peoria Police Department;
20        (2) Andrea DiGiacinto, Police Officer, Libertyville
21    Police Department; and
22        (3) Brian Prochaska, Detective, Joliet Police
23    Department; and



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1    WHEREAS, Two members representing beneficiaries and who
2are beneficiaries were appointed:
3        (1) Dan Hopkins, Retired Police Officer; and
4        (2) Mark Poulos, Retired Police Lieutenant; and
5    WHEREAS, One member who is a representative of the Illinois
6Municipal League was appointed:
7        (1) Brad Cole, Executive Director, IML; and
8    WHEREAS, The initial meeting of the Transition Board of
9Trustees was held in Peoria on February 24, 2020; and
10    WHEREAS, The IPOPIF's Transition Board of Trustees have met
11on a monthly basis, at times multiple times in a month, to
12conduct meetings in order to accomplish the essential goals and
13objectives associated with building the new organization; and
14    WHEREAS, The Transition Board of Trustees adopted bylaws,
15passed resolutions, and approved numerous governance policies
16that define the scope of their fiduciary responsibilities,
17describe the roles and responsibilities of the Board and each
18committee, and define the organizational operating procedures
19and job descriptions; and
20    WHEREAS, The Transition Board of Trustees has been very



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1active in the organization and construction of the governance
2structure and the administration infrastructure necessary to
3implement the consolidation of the participating police
4pension funds in accordance with the Illinois Pension Code; and
5    WHEREAS, The Transition Board of Trustees is appreciated
6for their dedication and service on behalf of the active and
7retired police officers and their beneficiaries in the Article
83 participating police pension funds in the implementation of
9the Consolidation during the transition period; therefore, be
13we congratulate the Illinois Police Officers' Pension
14Investment Fund (IPOPIF) on their continued efforts for pension
15health and solvency, and we wish them many more successful
16years; and be it further
17    RESOLVED, That a suitable copy of this resolution be
18presented to the Board of Trustees of the Illinois Police
19Officers' Pension Investment Fund as a symbol of our respect
20and esteem.