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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 --------------------------------------------------------------------------------------------------------------------------------- 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.