Police Pension Fund Board Minutes 2007 06-12-07 APPROVED BY THE
COMMITTEE/BOARD
ON.; -11...w!,L� — 7
Yorkville Police Pension Fund Board
Yorkville Police Department
804 Game Farm Road
Yorkville, Illinois 60560
(630) 553-4340
Meeting called to order: 06/12/07 17:07 hrs.
Roll call:
President Larry Debord present, Vice President Todd Overmeyer present, Treasurer
William Powell absent, Secretary Dan Pleckham present, Chief Harold Martin present,
Retiree Greg Sibenaller absent.
Guests Emily Dotson Mitchell Vaught and Taylor, Denise Kasper City of Yorkville.
Previous minutes:
Motion made to accept minutes as they are, L,D., 2❑d H.M. (passed)
Communications:
Denise Kasper reviewed the payment structure for the new retiree's payment. This policy
was submitted to all members in attendance and reviewed.
Brief synopsis of policy is as follows:
Retiree's will have the option for insurance coverage through the City. Payment to
retiree's will be the last Friday of the month. Retiree's have received payments for May
and June 2007 and the payout will be 1 month in advance.
Direct deposit policy has been implemented. The 954 tax will be taken from the
pensioners payment.
Denise will mail copies of this program to retiree's.
Denise then exited the meeting.
Emily Dotson gave out to all members of the board a statement booklet outlining the
investment which we are allocated for. A brief overview of that booklet is as follows:
Tab2:
Through end of May Equities have done well, up 9%to approx. $36,000 dollars and the
total gain since inception is approx. $100,000 dollars,
Our portfolio is in a lower risk more conservative strategy with stocks and international
stocks doing very well. Emily recommended an increase from 25% to 30% diversity,
Sudan restrictions will possibly come back into effect.
Tab 3:
Tracking a standard index/benchmark we have been performing around 7%.
Our portfolio is performing well and is doing what the index is doing but, bonds are not
doing as well.
Tab 4:
International stocks are performing better than domestic stocks
Tab 5:
Fund yield curve shows that our fund is following a normal yield curve where we get
" more bang for our buck" with short term securities.
Tab 6:
Portfolio statement shows growth up with securities along with bonds and stocks having
an overall value of$2,130,000 dollars, breakdown as follows:
25% International stocks
7% Real estate
66%Domestic stocks
Emily recommends a boost in growth and international funds and continued by stating
that we are well funded with only 2 retiree's and are a growing community. Emily then
exited the meeting,
Communications:
Election of board officers to be held next month due to absence of a board member.
Treasurers report:
Unavailable
Unfinished business:
IDOI results from actuary Tim Sharp. Bill Powell is working on and will be presented at
next meeting
New Business:
Election of'board members. Chief Martin and Officer Pleckham were re-elected to the
board again by default due to the fact no one else submitted names for election,.
Adjournment:
1810 hr5,