Jaclyn Vlahos

This document outlines the Firemen's Annuity and Benefit Fund of Chicago's investment strategies and policies, with a significant emphasis on diversity and sustainability. Key focus areas include setting quantifiable goals for the utilization of emerging investment managers and minority, women, and disabled persons (MWDBE) investment managers and brokerage firms. It also details guidelines for actively managed fund assets, responsible brokerage practices, and the integration of sustainable investing principles. The plan is designed to ensure prudent investment management while promoting diversity in its fiduciaries, consultants, and senior staff.

The meeting addressed administrative items including the approval of minimum formula annuities, survivor's annuities, refunds of contributions, death benefits, partial payments, and requests for permission regarding guardianship and residing out of state. Key hearings involved the consideration of findings of fact for FF Ricardo Gomez and the granting of duty disability benefits to PM Scott W. Flintz. Investment discussions included approving the issuance of an RFP for Pension Consultant Services and the liquidation of up to $24.5M for rebalancing. The Board also considered and approved the 2021 budget and certified 2020 trustee education requirements. Legal matters included the review of communications regarding member healthcare contribution rates for 2021.

The Board addressed numerous administrative items, including the approval of Minimum Formula Annuities, Widow's and Children's Annuities, Refunds of Contributions, Death Benefits, Partial Payments, and requests for permission regarding Guardianship and Residence outside the State. Payments pursuant to administrative and court orders (QILDROs) were approved. Key discussions involved the review and approval of the 2020 Budget, Investment Report findings, approval of 2020 MWDBE Goals, and the selection of Actuarial Services Provider. Hearings were conducted regarding Occupational Disease Disability, Duty Disability applications for James A. Mundo and Terence M. Martin (with benefits granted to Martin), and a hearing determined that Ordinary Disability for William Smoley had ceased. Legal matters included considering correspondence related to the Health Care Subsidy and discussing communication issues.

The document contains agendas and minutes from multiple meetings, primarily focusing on the Regular Meeting of January 18, 2017, and a Regular Meeting of January 27, 2016. Key discussions across the documents involved the implementation of Public Act 099-0905 and 6-148, the review and adoption of the 2017 Budget, and significant administrative actions such as approvals for Minimum Formula Annuities, Widow's and Children's Annuities, Refunds, and Death Benefits. Hearings were conducted where Occupational Disease Disability was granted to Elizabeth A. Ciolino, and Duty Disabilities were granted to Herbert Melton, Jeffrey M. Denis, and Karen A. Walter. A detailed communication from the Fund Secretary addressed the unanimous vote by Trustees in January 2017 regarding the granting of a 3% Cost of Living Adjustment (COLA) for certain members, clarifying that retroactive calculation would not apply to those who had already received an initial increase due to legislative language interpretation. The 2016 meeting summary also documented the approval of benefit recalculations due to new salary schedules per Senate Bill 358 and the granting of a Compensation Widow's Annuity to Julie Capuano.

This Strategic Plan, filed as part of the Firemen's Annuity and Benefit Fund of Chicago's annual report, details the organization's comprehensive investment and diversity policies. It establishes strategic goals for investment management, including objectives for funding levels, asset allocation, risk control, and portfolio diversification. A core focus is the utilization of minority, women, and disabled persons business enterprises (MWDBE) for investment management and brokerage services, with specific quantifiable targets. The plan also outlines policies for fiduciaries, consultants, and senior staff diversity, and integrates sustainable investing principles, with all policies subject to annual review.