Police Pension Minutes 2013 07-15-13 i
Yorkville Police Pension Fund Board
Special Meeting
804 Game Farm Road
Yorkville, IL 60560
(630) 553 -4340
S : OOPM on July 15, 2013
Police Department Conference Room
Minutes
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Attachments :
Bills for payment
Meeting Call to Order: Todd Overmyer 5 : 07pm
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Roll Call: Present: Todd Overmyer, Fred DuSell, Rob Fredrickson, Ray Mikolasek, Ryan Goldsmith, Greg Sibenaller
Guests : Cary Collins, Attorney; Larry DeBord, citizen j
Citizen Comments : Larry DeBord: wanted to know why board was considering hiring Great Lakes Advisors (GLA) to
manage equities. Suggested that board hire someone to put equities into an Index Fund and ask more questions of
GLA before a decision is made. Mr. DeBord also suggested that the board give both Mitchell, Vaught, and Taylor
(MVT) and GLA half of portfolio and see how each performs for a trial period. Mr. DeBord brought a copy of the
Macomb Police Pension Fund portfolio that he stated was managed by GLA and underperformed. Mr. DeBord also
questioned whether GLA used stop orders on their stocks . Mr. DeBord' s comments were taken under advisement by
the board.
Bill for Payment:
Zabinski Consulting Services Inc $ 158 .33
Illinois Department of Insurance $ 896.33
Total $ 1 ,054.66
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Illinois Department of Insurance (IDOI) bill was added at meeting. Bill was discovered prior to meeting and was
overdue. The bill was for the annual IDOI compliance fees.
Motion to Approve: Fred DuSell, 2nd Greg Sibenaller
Roll call vote: Todd Overmyer, Aye; Fred DuSell, Aye; Ray Mikolasek, Aye; Ryan Goldsmith, Aye; Greg
Sibenaller, Aye,
New Business:
Discussion on which firms will manage portfolio — options
Mitchell, Taylor, Vaught (MVT) continues to manage entire portfolio
Great Lakes manages equities and MVT manages fixed incomes
Great Lakes manages entire portfolio
Decide which option best for the Yorkville Police Pension Fund
Board decided that the best option would be to allow MVT to continue to manage fixed incomes and hire GLA to
manage equities (Option 2) .
Motion to approve: Fred DuSell 2nd Ray Mikolasek
Discussion: Board decided to allow GLA to manage the equities portion of the portfolio on a one year trial
basis . The board will determine if GLA is able to outperform the index net of fees. Any contract will forbid the
contracting of services by GLA to a third party.
Roll Call Vote: (Option 2) Fred DuSell, Aye; Ray Mikolasek, Aye; Ryan Goldsmith, Aye; Greg Sibenaller,
Aye; Todd Overmyer, Aye.
Motion to Adjourn: Fred DuSell, 2nd Greg Sibenaller Ayes 5 Nays 0 5 : 44pm
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President Secretary
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