Police Pension Minutes 2012 11-13-12
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630) 553-4340
5:00PM on November 13, 2012
Police Department Conference Room
Minutes
Attachments:
Meeting Minutes for August 14, 2012
Monthly Treasurer’s Report as of October 31, 2012
Bills for Payment
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Meeting Call to Order: By President Overmyer at 5:05 p.m.
Roll Call: Present: Mr Overmyer, Mr Mikolasek, Mr Goldsmith, Mr Sibenaller, Mr DuSell
Guests: Atty Tom Radja, Mr Bill Yocius of Mitchell Vaught and Taylor, Mr Larry De Bord
Previous Meeting Minutes: August 14, 2012
Corrections/Approval
nd
Motion to Approve: Mr DuSell, 2: Mr Sibenaller Ayes 5 Nay 0
Communications:
Funds transferred from the last meeting.
Transfer of funds from Old Second Checking $175,000 to Schwab.
nd
Motion to Approve: Mr Mikolasek 2: Mr Sibenaller Ayes 5 Nay 0 by roll call vote
Monthly Treasurer’s Report: as of October 31, 2012
nd
Motion to Approve: Mr Sibenaller, 2: Mr DuSell Aye 5 Nay 0
Bills for Payment:
Collins and Radja: Attorney $ 750.00
MVT Management Fee: (Oct – Dec 2012) $ 5,158.00
From Schwab Acct: 3137-9036
United City of Yorkville (10-99R forms) $ 11.00
United City of Yorkville (Audit Reimburse) $ 2,500.00
Tim Sharp: Actuary $ 1,700.00
William Powell $ 62.50
Total Bills for Payment: $10,181.50
nd
Motion to Approve: Mr DuSell 2: Mr Sibenaller Ayes 5 Nay 0 by roll call vote
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, Fl 32862-9906
Mr Yocius gave investment presentation showing a net investment gain of $ 1,144,394.00 for the fund, .for a net
return of 5.35%
Beginning value was $4,386,806. Ending value was $4,659,706.
Unfinished Business: Mr Radja submitted revised beneficiary form for review.
New Business:
Change in minimum balance in Old Second Checking.: $75,000 to $80,000. Board approval required.
nd
Motion to Approve: Mr Mikolasek, 2: Mr Sibenaller Ayes 5 Nay 0 By roll call vote
Personnel Changes and Additions:
nd
Retirement: Deputy Chief Donald Schwartzkopf 10-19-12 Motion to Approve: Mr DuSell 2: Mr
Goldsmith Ayes 5 Nay 0
nd
New Hire: Stephen Klett 09-17-12 Motion to Accept into Tier 2 Fund: Mr Mikolasek 2: Mr Sibenaller
Ayes 5 Nay 0
Additional Business: Motion to submit tax levy request to City of Yorkville of $579,424.00 based on 7% Investment
nd
return and 5.5% salary increase per actuarial report : Mr Sibenaller, 2: Mr DuSell Ayes 5 Nay 0 by roll call
vote.
nd
Set 2013 meeting dates: Feb 12, May 13 (Monday), Aug 13, Nov 12 Motion to approve : Mr Mikolasek, 2: Mr
DuSell Ayes 5 Nay 0
Next meeting: February 12, 2013
nd
Motion to Adjourn: Mr DuSell, 2: Mr Sibenaller Ayes 5 Nay 0. Adjournment at 5:48 p.m.