Police Pension Minutes 2011 08-10-11
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630) 553-4340
5:00PM on Aug 10, 2011
Police Department Conference Room
Minutes
Attachments:
Meeting Minutes for May 10, 2011
Monthly Treasurer’s Report as of July 31, 2011
Bills for Payment
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Meeting Call to Order: 1730
Roll Call: Present: Mr. Overmyer, Chief Hart, Sgt. Mikolasek, Mr. DuSell , Mr. Sibenaller,
Mr. Powell,
Guests: Dwight Ower, Mitchell, Vaught & Taylor, Atty. Cary Collins, Larry DeBord ,
Citizen
Previous Meeting Minutes: May 10, 2011
Corrections/Approval - None
nd
Motion to Approve: Mr. Sibenaller; 2 Sgt. Mikolasek Ayes 5 Nays 0
Communications:
Yorkville Police Pension Fund Board was given notice of audit by Illinois Department of Insurance
Detective Steven Bozue transferred his contributions of $35,217.44 to his new employer.
-Illinois Department of Insurance will pickup audit paperwork on 08/11/11.
Monthly Treasurer’s Report: as of July 31, 2011
nd
Motion to Approve: Mr. DuSell; 2 Mr. Sibenaller Ayes 5 Nays 0
Corrections of 1099-R's for Retirees.
-Found errors on past 1099-Rs. Error has been corrected.
Treasurer Powell discussed format for future reporting
- Disbursement of contributions for Officer Patricia Cerenkee and Lizmarie Davila.
-Letters were sent to former officers Cernekee and Davila by Mr. Powell. Cernekee has
$8,165.92 remaining in the fund and Davila has $1425.02.
Bills for Payment:
Cary Collins: Attorney $ 750.00
MVT Management Fee: (July – Sept 2011) $ 4651.00
From Schwab Acct: 3137-9036
Zabinski Consulting Services
Quarterly Payment $ 425.00
IDOI Filing $ 650.00 $625 due and payable, leaving a $625
Balance approved incrementally
William Powell (Includes Audit Prep) $ 987.50
Reimbursement for required training:
Greg Sibenaller and Ray Mikolasek
United City of Yorkville: Lodging/Meals $ 466.58
Illinois Public Pension Advisory
Committee: Conference Tuition $ 450.00
Illinois Public Pension Advisory
Committee: Annual Membership Fee $ 500.00
Illinois Department of Insurance: Annual
Compliance Fee $ 729.14
Total Bills for Payment: $ 9,584.22
-The board will pay Kelly Zabinski $625 when IDOI filing is complete.
-Mr. Sibenaller has mileage bill of 252 miles for training to be submitted at next meeting.
-Balance of checkbook at time of meeting is $130,966.41
-A deposit of $119,062.32 was made to the fund by Kendall County on 06/21/11.
nd
Motion to Approve: Mr. DuSell; 2 Mr. Sibenaller Ayes 5 Nays 0
Investments:
Progress Reports from Mitchell, Vaught, and Taylor
Income of $25,204 from investments during the past quarter, Fixed outperformed Equities.
Total fund return was .99%. Columbia Dividend’s holdings will increase, as will Corporate
Bonds. Funding by the city was reported as good by our Investment Advisor.
Money transfers from YNB to Charles Schwab & Co
Pay to: Charles Schwab & Co.
Mail to: Institutional Client Service Group
P. O. Box 628290
Orlando, Fl 32862-9906
Unfinished Business:
Election of Board Officers:
President, Vice President, Secretary, Assistant Secretary
-Mr. Overmyer nominated for president by Mr. DuSell
-Chief Hart nominated for Vice President by Mr. Overmyer
-Sgt. Mikolasek nominated for Secretary by Chief Hart
-Mr. DuSell nominated for Assistant Secretary by Sgt. Mikolasek
nd
Motion to Approve nominations: Mr. Sibenaller; 2 Mr. DuSell Ayes 5 Nays 0
Election of Board Officers:
Open Meetings Act Administrator, Security Administrator, and FOIA Administrator
A letter will be sent to the City and County Clerks Office of these appointments.
-President Overmyer appointed the following members: Sgt. Mikolasek as Open Meetings Act
Administrator; Mr. Sibenaller as Security Administrator; and Chief Hart as FOIA
Administrator.
Finalize Deputy Chief Don Schwartzkopf military service time buyback
-Letter was sent on 08/09/11 to Deputy Chief Don Schwartzkopf’s investment company
authorizing transfer of money to Yorkville Police Pension Fund.
New Business:
Discuss upcoming Audit by IDOI
-Files were completed as requested by IDOI.
-Waiting for IDOI to set audit date.
Additional Business:
Discussion to update Rules and Regulations to reflect military buyback guidelines.
-Updated Rules and Regulations were submitted by Attorney Cary Collins. Board members
will proof read document and approve next meeting
Dave Delaney’s pension contributions were taken out of vacation pay while on
administrative leave
IPPAC training session being planned 09/16/2011 to be held in Ottawa, IL.
Next meeting: Nov 08, 2011
nd
Motion to Adjourn: Mr. DuSell; 2 Mr. Sibenaller Ayes 5 Nays 0
Meeting adjourned 18:39
Year 2011 Meeting Dates: Feb 08, May 10, Aug 10, Nov 08
President _______________________________
Secretary _______________________________