_02232026-752

MINUTES OF A REGULAR MEETING OF THE KENILWORTH POLICE PENSION FUND BOARD OF TRUSTEES FEBRUARY 23, 2026 A regular meeting of the Kenilworth Police Pension Fund Board of Trustees was held on Monday, February 23, 2026 at 5:00 p.m. in the Kenilworth Village Board Room located at 419 Richmond Road, Kenilworth, Illinois 60043, pursuant to notice. CALL TO ORDER: Trustee LaBeau called the meeting to order at 5:02 p.m. ROLL CALL: PRESENT: Trustees Ara Bayindiryan, William Burns, Mark LaBeau and Katie White (via teleconference) ABSENT: None ALSO PRESENT: Erica Dominguez, Lauterbach & Amen (L&A) ; Treasurer Peter Shadek (via teleconference) and Kathy Thake (via teleconference), Village of Kenilworth; Officer Tim Zordan, Kenilworth Police; Retired Member Oscar Padilla, Kenilworth Police PUBLIC COMMENT: There was no public comment. APPROVAL OF MEETING MINUTES: October 20, 2025 Regular Meeting: The Board reviewed the October 20, 2025 regular meeting minutes. A motion was made by Trustee Burns and seconded by Trustee LaBeau to approve the October 20, 2025 regular meeting minutes as written. Motion carried by roll call vote. AYES: Trustees Bayindiryan, Burns and LaBeau NAYS: None ABSENT: None ABSTAIN: Trustee White Semi-Annual Review of Closed Session Meeting Minutes: There were no closed session meeting minutes for review. ACCOUNTANT’S REPOR T – LAUTERBACH & AMEN : Monthly Financial Report: The Board reviewed the Monthly Financial Report for the one-month period ending January 31, 2026 as prepared by L&A. As January 31, 2026 , the net position held in trust for pension benefits was $13,099,461.08 for a change in position of $495,243.85. The Board also reviewed the Cash Analysis Report, Revenue Report, Municipal Revenue Report, Expense Report, Member Contribution Report and Payroll Journal. A motion was made by Trustee Bayindiryan and seconded by Trustee LaBeau to accept the Monthly Financial Report as presented. Motion carried by roll call vote. AYES: Trustees Bayindiryan, Burns and LaBeau NAYS: None ABSENT: None ABSTAIN: Trustee White Kenilworth Police Pension Fund Meeting Minutes – February 23, 2026 Page 2 of 4 Presentation and Approval of Bills : The Board reviewed the Quarterly Deduction Report, Quarterly Transfer Report and Quarterly Disbursement Report for the period November 1, 2025 through January 31, 2026. Further discussion will be held at the next regular meeting. Additional Bills, if any: There were no additional bills presented for approval. Discussion/Possible Action – Cash Management Policy: The Board discussed the Cash Management Policy and determined that no changes are required at this time. INVESTMENT REPORT – IPOPIF: Verus Advisory, Inc: The Board reviewed the IPOPIF Investment Performance Review prepared by Verus Advisory, Inc. for the period ending December 31, 2025. As of December 31, 2025, the one -month total net return was 1.1% and the year -to-date total net return was 18% for an ending market value of $14,870,144,122. State Street Statements : The Board reviewed the State Street Statement for the period ending January 31, 2026. As of January 31, 2026, the beginning value was $12,581,781.06, the ending value was $12,705,422.71 and the month-to-date net return was 2.66%. COMMUNICATIONS AND REPORTS: Affidavits of Continued Eligibility : The Board noted that L&A mailed Affidavits of Continued Eligibility to all pensioners on January 20, 2026 with a due date of February 21, 2026. To date, two affidavits remain outstanding. L&A will mail second request affidavits to the outstanding pensioners and status updates will be provided to the Board as they become available. Statements of Economic Interest: The Board noted that the List of Filers was to be submitted to the County by the Village by February 1, 2026. Statements of Economic Interest will be sent to all registered filers who will need to respond by the deadline of May 1, 2026. TRUSTEE TRAIN ING UPDATES: The Board reviewed the Trustee Training Summary and discussed upcoming training opportunities. Trustees were reminded to submit any certificates of completion to L&A for recordkeeping. Approval of Trustee Training Registration Fees and Reimbursable Expenses: There were no trustee training registration fees or reimbursable expenses presented for approval. APPLICATIONS FOR MEMBERSHIP/WITHDRAWALS FROM FUND: There were no applications for membership or withdrawals from the Fund. APPLICATIONS FOR RETIREMENT/DISABILITY BENEFITS: Approve Regular Retirement Benefits – Oscar Padilla: The Board reviewed the regular retirement benefit calculation for Oscar Padilla as prepared by L&A. Officer Padilla had an entry date of November 1, 2004 , retirement date of November 3, 2025, effective date of pension of July 26, 2030, 50 years of age at date of retirement, 21 years of creditable service, applicable salary of $ 123,477.12, applicable pension percentage of 52.50%, amount of originally granted monthly pension of $5,402.12 and amount of originally Kenilworth Police Pension Fund Meeting Minutes – February 23, 2026 Page 3 of 4 granted annual pension of $64,825.44. A motion was made by Trustee Burns and seconded by Trustee LaBeau to approve Oscar Padilla’s regular retirement benefit as calculated by L&A. Motion carried by roll call vote. AYES: Trustees Bayindiryan, Burns and LaBeau NAYS: None ABSENT: None ABSTAIN: Trustee White OLD BUSINESS: There was no old business to discuss. NEW BUSINESS: Appointment to Board of Trustees – Katie White: The Board noted that Katie White was appointed to the Kenilworth Police Pension Fund Board of Trustees by the President of the Village of Kenilworth Board of Trustees for an unexpired term beginning February 2026 through December 2027. Approve Annual Cost of Living Adjustments for Pensioners: The Board reviewed the 2026 Cost of Living Adjustments calculated by L&A. A motion was made by Trustee Bayindiryan and seconded by Trustee LaBeau to approve the 2026 Cost of Living Adjustments as required by statute and calculated by L&A. Motion carried by roll call vote. AYES: Trustees Bayindiryan, Burns and LaBeau NAYS: None ABSENT: None ABSTAIN: Trustee White Review Trustee Term Expirations and Election Procedures: The Board noted that the active member term currently held by Trustee LaBeau and the retired member term currently held by Trustee Burns is expiring in May 2026 ; there is also a vacant active member position . Trustees LaBeau expressed his interest to remain on the Board if nominated. L&A will conduct an election on behalf of the Pension Fund for both active member Trustee positions and the retired member Trustee position. Discussion/Possible Action – Resolution for Authorized Agents and Account Representatives for IPOPIF : The Board discussed updat ing the authorized agents for IPOPIF. A motion was made by Trustee Burns and seconded by Trustee Bayindiryan to Adop t Resolution 2026 -01, appointing Trustee LaBeau and Treasurer Shadek as authorized agents, and to execute the eCFM Access Form designating Trustee LaBeau and Treasurer Shadek as authorized agents of the Kenilworth Police Pension Fund. Motion carried by roll call vote. AYES: Trustees Bayindiryan, Burns and LaBeau NAYS: None ABSENT: None ABSTAIN: Trustee White Kenilworth Police Pension Fund Meeting Minutes – February 23, 2026 Page 4 of 4 IDOI Security Administrator Designee: The Board discussed designating Trustee LaBeau as the IDOI Security Administrator. A motion was made by Trustee Burns and seconded by Trustee LaBeau to designate the IDOI Security Administrator as stated. Motion carried unanimously by voice vote. ATTORNEY’S REPORT – ATWELL & ATWELL: Legal Updates: There were no legal updates to discuss. CLOSED SESSION, IF NEEDED: There was no need for closed session. ADJOURNMENT: A motion was made by Trustee Bayindiryan and seconded by Trustee LaBeau to adjourn the meeting at 5:34 p.m. Motion carried unanimously by voice vote. The next regular meeting is scheduled for April 20, 2026 at 5:00 p.m. ___________________________________________ Board President or Secretary Minutes approved by the Board of Trustees on ___________________ Minutes prepared by Erica Dominguez, Professional Services Administrator, Lauterbach & Amen