Police Pension Minutes 2012 05-07-12 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
(630) 553-4340
5:OOPM on May 07, 2012
Police Department Conference Room
Minutes
Attachments
Meeting Minutes for February 14, 2012 President/Secretary to sign
Monthly Treasurer's Report as of April 30, 2012
Annual Treasurer's Report for Fiscal Year 2011 —2012
Annual Pension Board Budget
Required Report to the Municipality by the Pension Board
Bills for Payment
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Meeting Call to Order: By President Overmyer at 5:17pm
Roll Call: Present: Mr. Overmyer, Mr DuSell, Mr. Mikolasek, Mr. Sibenaller, Mr Goldsmith (5:35pm)
Guests: Mr. Dwight Ower of Mitchell, Vaught and Taylor, Mr. Larry DeBord
Previous Meeting Minutes: February 14, 2012
Corrections/Approval
Motion to Approve: Mr. DuSell 2nd Mr Sibenaller Ayes 4 Nay 0
Communications: IPPAC training seminar in Rock Island and Judson University online training discussed
Monthly Treasurer's Report: as of April 30, 2012
Motion to Approve: Mr Sibenaller 2nd Fred DuSell Ayes 4 Nay 0
Annual Treasurer's Report for Fiscal Year 2011 —2012
Mr Powell reported no response from a certified letter sent to Zachary Rundlett regarding refund of
contributions.
Motion to Approve: Mr Mikolasek 2nd Mr Sibenaller Ayes 4 Nay 0
Annual Pension Board Budget: Fiscal Year 2012 - 2013
Motion to Approve: Mr DuSell 2nd Mr Sibenaller Ayes 4 Nay 0
Required Report to the Municipality by the Pension Board
Motion to Approve: Mr DuSell 2nd Mr Sibenaller Ayes 4 Nay 0
Bills for Payment:
Cary Collins: Attorney $ 750.00
MVT Management Fee: (Apr—June 2012) $ 4927.00
From Schwab Acct: 3137-9036
Zabinski Consulting Services Inc $ 452.51
IPPAC Spring Conference Tuition $ 790.00
William Powell $ 362.50
Total Bills for Payment: $ 7282.01
Motion to Approve: Mr DuSell 2nd Mr Mikolasek Ayes 5 Nay 0
Investments:
Progress Reports from Mitchell, Vaught, and Taylor
Money transfers from YNB to Charles Schwab & Co
Pay to: Charles Schwab & Co.
Mail to: Institutional Client Service Group
P. O_ Box 628290
Orlando, F132862-9906
-Net investment gain of$207,353 for a total refund return of 4.87%. Total assets $4,429,078.
- Mr Ower discussed changes in investment scenarios when fund reaches $5,000,000
- Mr Mikolasek replaces Rich Hart on Schwab account and Board signed resolution authorizing the
switch.
- MVT gave copy of privacy policy to Board for records.
Unfinished Business:
Discussion on calculating holiday and overtime for pension purposes. Issue has not been resolved.
Status of the IDOI Audit—No response from IDOI at this time.
New Business:
Election of Active Board Members
- Election held 04/17/12—Vote Totals: Ray Mikolasek 17,Ryan Goldsmith 12, Rich Hart 9, Dan
Pleckham 2
Election of Retired Board Members
- Greg Sibenaller was unopposed for re-election as retired board member
Appointment of Board Members: President Overmyer appointed Mr Mikolasek as FOIA officer and
Open Meetings Act officer, and Mr Sibenaller as Security Administrator.
Election of Board Officers: Mr DuSell nominated Mr Overmyer for President, Mr Mikolasek
Nominated Mr Sibenaller for Vice President, Mr DuSell nominated Mr Mikolasek for Secretary
and Mr Mikolasek nominated Mr Goldsmith for Assistant Secretary. All nominations were
unanimously approved.
Additional Business: Motion to approve purchase of file cabinet not to exceed $150 was made by Mr DuSell
and 2nd by Mr Mikolasek Ayes 5 Nay 0
- Discussion about purging or archiving pension files. Mr Mikolasek to follow up.
Next meeting: Aug 14, 2012
Motion to Adjourn: Mr DuSell 2 d Mr Mikolasek Ayes 5 Nay 0. Meeting adjourned at 6:19pm.
Year 2012 Meeting Dates: Feb 14, May 07, Aug 14,Nov 13