SR0067 103RD GENERAL ASSEMBLY

SR0067 LRB103 27435 ECR 53807 r

SENATE RESOLUTION

WHEREAS, The members of the Illinois Senate wish to congratulate Executive Director Richard White on the occasion of successfully overseeing the transition of the Illinois Police Officers' Pension Investment Fund (IPOPIF); and

WHEREAS, Richard White has spent over 40 years in public service as a sworn law enforcement officer, serving and protecting citizens, businesses, and property with dignity and honor; and

WHEREAS, During his career, Richard White also served as a trustee for the Orange County Employees Retirement System (OCERS) in California for nine years, where he managed an administrative budget of 11 million dollars and a pension fund of 10 billion dollars; and

WHEREAS, Richard White then served as the president of the State Association of County Retirement Systems (SACRS), representing over half a million participants and beneficiaries throughout the State of California with the combined assets of 110 billion dollars; and

WHEREAS, After retiring from law enforcement, Richard White served as the administrator for the Mendocino County Employees Retirement Association (MCERA) in California, where he managed a pension fund with a budget of $800,000 and $440 million in assets; he retired from public service in California in 2014; and

WHEREAS, In June of 2020, Richard White returned to public service and was hired as the executive director of the Illinois Police Officers' Pension Investment Fund (IPOPIF) to oversee the development of the newly created consolidation of 357 different pension funds; and

WHEREAS, Richard White prepared a strategic plan to bring the consolidated funds together, writing policies and procedures and developing requests for proposal (RFPs) for all facets of the pension fund, including investments, legal requirements, and administrative positions that would be needed; and

WHEREAS, Richard White spoke with various service providers and sought expertise to develop a team to bring the assets under management; he educated the IPOPIF Board of Directors on hiring staff and the development of the systems needed for this undertaking; he also located and created an office space for the future of the fund; and

WHEREAS, Richard White worked with other government entities, speaking with legislators, union officials, and pension boards across the State in an effort to garner trust, faith, and the cooperation of all parties; and

WHEREAS, Richard White traveled across Illinois to meet with pension trustees, beneficiaries, and participants to give them full confidence in his abilities to oversee and manage this process, always taking the time to speak at union and pension conferences and to meet with leaders and local boards without hesitation while simultaneously creating this newly consolidated fund; and

WHEREAS, Richard White led the IPOPIF Board and his team through issues related to the COVID-19 pandemic and litigation, ensuring things would be completed and done correctly in the best interest of all parties; his dedication required working many late nights, weekends, and on holidays to meet the legislative deadline; and

WHEREAS, Richard White spearheaded the largest pension consolidation in the nation, working with 357 different pension funds and a net value of 9 billion dollars, an undertaking that had never been done to this size and scale; and

WHEREAS, Because of his experience, education, and leadership, Richard White was able to lead this endeavor through the most challenging times while maintaining his patience and professionalism and never losing focus of the goals and objectives of the IPOPIF; therefore, be it

RESOLVED, BY THE SENATE OF THE ONE HUNDRED THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate Executive Director Richard White on successfully overseeing the transition of the Illinois Police Officers' Pension Investment Fund (IPOPIF), and we thank him for his hard work and dedication to this endeavor; and be it further

RESOLVED, That a suitable copy of this resolution be presented to Richard White as a symbol of our esteem and respect.