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Police Pension Packet 2008 02-26-08 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, I160560 _ (630) 553-4340 ---,- 5:30PM on Feb 26, 2008 Police Department Conference Room Attachments: Treasurer's Report as of Jan 31 , 2008 Northern Trust Company collateralization letter dated Nov 13, 2007 Memo to Glen Calvert for adjusted service date. Memo to Mitchell Vaught, and Taylor stating net fund assets over $2.5 million IMRF Transfers to the Police Pension Fund Memo dated 2/26/08 Tax Issues relating to Early Distribution — Draft Procedure and Samples -------------------------------------------------------------------------------------------------------------------------- Meeting Call to Order: Roll Call: Previous Meeting Minutes: Nov 13, 2007 Corrections/Approval Communications: Treasurer's Report: Real Estate Tax Levy checks Nov. 13, 2007: 152,551 .62 Nov. 27, 2007: 31 ..712.23 Jan. 08, 2008: 10,806, 12 Motion to Approve: Bills for Payment: MVT management fees: 1/1/08 to 3/31/08 From Schwab #3137-9036 $ 2,973.00 Cary Collins: $ 600A0 Bill Powell: $ 450.00 Total Bills $ 4023.00 Motion to Approve: 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 Unfinished Business: Glen Calvert: Service date calculation Officer Pleckbam to review personnel files New Business: Revised asset allocation based on net fund balance exceeding $2,5 million. TMRF Transfers to the Police Pension Fund Memo dated 2/26/08 Tax Issues relating to Early Distribution — Draft Procedure and Samples Additional Business: Fiscal Analysis of Illinois Pensions 2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11/18 @ 5PM Adjournment: Motion to Approve: 2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11/18 @ 5PM File: PolicelagendMagenda Feb 12 2008.doc Yorkville Police Pension Fund Board 804 Game Far1n Road Yorkville, I160560 (630) 553-4340 5: OOPM on Nov 13 2007 Police Department (conference Room Meeting Call to Order: Roll Call: Previous Meeting Minutes: Corrections/Approval Aug 14, 2007 Communications: Treasurer's Report: Real Estate Tax Levy check to be received from the City on Nov 13, 2007 for $ 152,551 .62 Motion to Approve: Bills for Payment: MVT management fees: $2,686.00 From Schwab 93137-9036 (Oct 1 — Dec 31 , 2007) Cary Collins: $ 600.00 Bill Powell: $ 475.00 Motion to Approve: 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 Unfinished Business: Glen Calvert: Service date calculation IDOI Annual Report filing New Business: Reimbursement of contributions for Shirley Kubicz Application for admission to the Yorkville Police Pension for Scott Fiandale Tom Grimes Additional Business: Fiscal Analysis of Illinois Pensions 2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11/18 @ 5PM Adjournment: Motion to Approve: 2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11/18 @ 5PM file: Police\agenda\agenda Nov 13 2007.doc United City of Yorkville J �,p 800 Game Frame Road Yorkville, Illinois 60560 Esr leas Phone 630-553-1887 William Powell ~ `— Fax: 630-553-7575 Treasurer .� ® p \ yJ Treasurer' s Report (As of Jan 31 . 2008) Dollars Percent Cash: YNB 87,510.74 Schwab 92.652.33 Total Cash: $ 180, 163.07 7.0% Schwab: Fixed Securities: 2, 1861608.51 85.0% Equities: 205,372. 13 8.0% Total Assets: $ 2,5721143 .71 2006 Tax Levy Estimate: (paid in 2007) $275,000.00 Actual Payments: 8/14/07 12,505.93 9/11/07 66,927.84 11/13/07 1529551,62 11/27/07 31 ,71123 1/08/08 M806. 12 12 Total YTD 274,504,04 Estimated monthly deposits: $ 13,000.00 Estimated monthly retiree payments: $ 127243 .00 GC/e c-tit _ William Powell Treasurer United City of Yorkville File: T Report 013108.doc NOU-13-2007 14 : 15 NORTHERN TRUST 312 630 1613 P . 02 _.... Page t of 2 The Northern Trust Company, PLEOGOR AUTHORIZATION CoC,(. ATE ti Ar( . j ':iL.A%T- I QeJ 50 s. LaSalle Street Chicago, IL 60675 ===Gentlemen: '.. The Northern Trust Company ((no "Bank") holds, from time to time, on behalf of YORKVILLE POLICE PENSION FUND_ (the "Pledgee") and as Its safekeeping agent in Safekeeping Account #-_24072-Y_the "safekeeping Account") canain securities deposited with the Bank (the "BecurI which have been pledged to the Pledgee by Ole undersigned as pledger as collateral for certain of the undersigned's obligations to the Pledgee The undersigned hereby authorizes the Bank to accept instructions (whether signed, unsigned, or telephonic in form) from lime to time to hold Secarilias which have been pledged as collateral for cenain of the undersigned's obligations to the Pledgee, on behalf of the Pledgee and as the Pledgee's Safekeeping agent. The undersigned agrees that the Bank may rely on the authority of persons giving telephonic or unsigned instructions to hold Securities when such persons provide the Bank with an approved authorization number, and the undersigned further agrees that the Bank shall have no liability for acting in accordance with such telephonic or unsigned instructions The undersigned shall have the responsibility for proper control and dissemination of the approved authorization code within its organization, The undersigned agrees to provide timely changes to this auhorization code in writing upon the termination of those who had knowledge of this inlormalion The Bank will hold the Securities as safekeeping agent of the Pledgee. Except as provided herein, the Bank will not release, exchange, transfer or otherwise dispose of the Securities held on behalf of the Pledgee without prior written consent of the Pledgee orexcepl as directed by a court of competent jurisdiction. The Pledgor underslands that the Pledgee has authorized the Sam( to release a portion or all of the Securities pledged by the Pledge upon and in exchange for the deposit in the Safekeeping Account by the pledgor of securities (the "Replacement Securities") aggregating equal or greater par value than the par value of the Securities released as of the date on which such Securities are released. After any such exchange, the Bank will continue to hold the remaining Securities, together with 0e Replacement Securities, as safekeeping agent for the Pledgee. The Bank shall give receipts aclmewledging possession or delivery of the Securities or the Replacement Securities At a minimum. Such receipts shall be made in duplicate with one copy of the undersigned and one copy to the Pledgee. The Bank shall disburse income on the Securities and the Replacement Securities, and regularly scheduled repayments or principal prior to the final maturity of the Securities and the Replacement Securities, it any, in accordance with the Instructions of the undersigned. While the Bank is under no obligation to the undersigned to notify the undersigned with respect to impending calls or to collect either principal or interest on the Securties or Replacement Securities, if any, called, the Bank agrees to make reasonable efforts to notify the undersigned with respect to impending calls and to collect principal or interest on the Securities or Replacement Securities, if any, called. The undersigned understands and hereby agrees that it shall bear sole responsibility lot the correctness and authenticity of any instructions (whether signed, unsigned or telephonic in form) which the Bank believes to be authorized and acts upon in good faith and agrees to indemnify the Bank and hold the Bank harmless for any loss. cost or damages, including anorney's fees and lime charges for attorneys who may be employees of the Bank, which the Bank may incur as a result of acting and relying on such instructions The undersigned understands and hereby agrees that neither the Bank nor any of ifs directors, officers, employees or agents shall be Gable to the undersigned for any action taken in good faith by the Bank or any of its directors officers, employees or agents in connection with the Securities and/or the Replacement Securities except for its or their own gross negligence or willful misconduct. The undersigned also understands that the Bank is not responsible for, and makes no representation or wananty with reaped to the validity or enforceability against third parties of the Pledgee's security interest in the Securitias and/or the Replacement Securities or with respect to the effect of the Bank's acting as safekeeping agent of the Safekeeping Account.. All notices and other communications shall be sent to: The Northern Trust Company 60 South La Salle Street Chicago, Illinois 60675 (Attention: Safekeeping Customer Service) the Pledger: OLD SECOND NATIONAL BANK Pam Abrego 37 S " River St . , Aurora , IL 60506 (Attention: Please print or type name .. ) This agreement may he terminated by the undersigned (with the prior written consent of the PledzPam ;bbre;g ;written notice. Delivery of Securities and Replacement Securities, if any, as directed by the Pledgee shall release the Bank from all further liab as Date: Accounting AnalW Accepted: Accepted; THE NORTHERN TRUST COMPANY PLEDGEE By: rn By: Title: I IvdVP . Jr' GC, 0/15 Tiue; Trea urer, ^ Dated: y - 4 " OD NOU-13-2007 14 . 15 NORTHERN TRUST 312 630 1613 P . 03 Pago 2 of 2 The Northern Trust Company PLEDGEE AUTHORIZATION 50 5. La Salle Street _-.. Chicago, IL 60675 Gentlemen: The Northern Trust Company (the "Bank') holds, on behalf of the undersigned as pledges and as its safekeeping agent in Safekeeping Account # 24072-Y_, (the Safekeeping Account') certain securities deposited with 1110 Bank (the 'Securities') which have been pledged to the undersigned by OLD SECOND NTLBANK/AURORA, IL-the `Piedgor') as collateral lot certain of its obligations to the undersigned The undersigned understands that Ole Bank will accept instructions (whether signed, unsigned or telephonic in form) from time to time from the Pledger to hold Securities, which have been pledged as collateral lot certain of the obligations to the undersigned, in the Safekeeping Account, on behalf of the undersigned and as safekeeping agent of the undersigned. Except as specifically provided herein below, the Bank will not release, exchange, transfer, or otherwise dispose of the Securities held on behalf of Ilia undersigned without prior written consent of the undersigned or except as directed by a court of competent jurisdiction The undersigned will promptly utility the Bank of its release of the pledged Securities. The undersigned hereby agrees that the Bank may rely on the authority of persons giving instructions (whether signed, unsigned, or telephonic in form) to release the Securities which the Bank believes to be authorized, and the undersigned further agrees that the Bank shall have no liability for acting in accordance with such instruction The undersigned hereby authorises the Bank to release a portion or all of the Securities pledged by ilia Pledger upon and in exchange for the deposit in the Safekeeping Account by the Pledger of securities (the 'Replacement Securities') aggregating equal or greater par value of the Securities released as of Ilia date on which such Securities are released- Alter any such exchange- the Bank will continue to hold Ilia remaining Securities. logelher with the Reptacomenl Securities. as safekeeping agent for the undersigned. The undersigned hereby authorizes the Bank to disburse income on the Securities and the Replacement Securities, and regularly scheduled repayments of principal prior to the final maturity of ilia securities and the Replacement Securities, if any , in accordance with the instructions of the Pledgoe While the Bank is under no obligation to the undersigned to notify the undersigned with respect to impending calls or to collect either principal or interest on the Securides, and Replacement Securities, if any, called. The Bank agrees to make reasonable efforts to notify the undersigned with respect to impending calls and to collect principal or interest on the Securities or Replacement Securities, if any, called. The undersigned hereby authorizes the Bank to give receipts, acknowledging possession, or delivery of the Securities and/or the Replacement Securities. At a minimum, such receipts shall be made in duplicate with one copy to the undersigned and one copy to the Pledger The undersigned understands and hereby agrees that it shall bear sole responsibility for the correctness and authenticity of any instructions (whether signed. unsigned, or ielephonie in form) with respect to the Securities and/or Replacement Securities which the Bank believes to be authorized and acts upon in good faith and agrees to indemnity the Bank and hold the Bank harmless for any loss, cost or damages, including attorney s lees and time charges for attorneys who may be the Banks employees, which the Bank may incur as a result of acting and relying on such instructions The undersigned understands and hereby agrees that neither the Bank nor any of its directors, officers, employees or agents shall be liable to Ilia undersigned for any action taken in good faith by the Bank or any of its directors, officers, employees or agents in connection with the Securities and/or Replacement Socurities except for its or their own gross negligence or willful misconduct The undersigned also understands that the Bank is not responsible for. and makes no representation or warranty whatsoever 10 anyone with respect lo, the validity or enforceability against third polies of the undersigned's security interest in the Securities andror Replacement Securities or with respect to the Bank's acting as Safekeeping agent or the Salekeeping Account All notices and other communications shall be sent lo: The Northern Trust Company 50 So La Salle Street Chicago, Illinois 60575 (Attention: Safekeeping Customer Service) the Pledgee; YORKVIL.LE POLICE PENSION FUND Bill Powell , Treasurer 804 Game Farm Rd . , Yorkville , IL 60560 (Akentiote Please print or type name ) This agreement may be terminated by the undersigned (with the prior written consent of the Pledgees) or by the Bent( at any time upon writen notice.. Delivery of Securities and Replacement Securities, if any, as directed by the Pledgees shall release the Bank from all further liability or responsibility hereunder Sincerely. Dale: " J.. 1/loo -7 By. Treasurer � ) P12L,) P mamoi l rep SUfer (ngo) Accepted: THE NORTHERN TRUST COMPANY By: �M.GLlt ' Wr � Title: � Nd V/PT . Dated: ' `y- — c'' F TOTAL P . 03 Mitchell , Va.0 S7�ht 5.3 West Jackson Boulevard 8 �j Suite 905 Tavl o r Inc . Chicago, II. 60604 312-922-1717 (phone) Investment Advisors 312-922-1772 (fax) January 2, 2008 Statement for First Quarter 2008 For Services Rendered Yorkville Police Pension Fund Attn: Larry DeBord 800 Game Farm Road Yorkville, EL 60560 Investment Management Fees First Quarter 2008 January 1, 2008 through March 31, 2008 December 31 , 2007 Portfolio value $ 2,4737371 First $2 million @ 050% $ `2,500 Next $3 million @ 040% $ 473 Total Fee for First Quarter, 2008 $ 21973 Account #3137-9036 at Charles Schwab & Co , Inc. has been charged $2,973. Charles Schwab & Co., Inc., as custodian, makes no independent verification of the calculation of the billing amount, which is the client's responsibility. Law Offices of Cary J. Collins, ID C. Invoice 2200 West Higgins Road Suite 155 -_-;,--Hoffinan Estates, IL 60169 Date Invoice # Telephone 847-519-0010 Fax 847-519-0016 12/14/2007 3656 Bill To Yorkville Police Pension Board 00� Atten: Chief Harold Martin 804 Game Farm Road 4�U Yorkville IL 60560 Terms Due on receipt Description Amount Quarterly retainer for the months of: 600 .00 JANUARY, FEBRUARY AND MARCH, 2008 Total $60000 Please make checks payable to the LAW OFFICES OF CARY J. COL LJNS Payments/Credits $000 Balance Due $600.00 Police Pension Accounting Services Log for Fiscal 2005-2006 Date Activity I Hours 0'1 NeU Itt 07 Mec-r . c % + EMaI T-o N At ab '''... Iz E ' �A o N /kcaao "T E- qp A 44E . 0fQ C.AL t1E'wT tt eta CST'rvtC L4. �-r AAto 'rFL O A m e---V+aa P- mo cS a Misr a w , tSe EA avSCEla db ° Q° _ 1 :�L Ta 3P art oU - %S .Y ok Caµ LtT< t a.- a o A ft&eMA!C . e a R s 3 ?. Sa Ik 6 gi Gnt.r� � S 1 �ENlJ / FGU- SG wn3 /f�' t/�E7�..�a .sz i,✓6 C caZG.Flzwt . � Q "'-et- ChU� a TZF (4elG� 5fltn � u tc � L� nc e(LAc c ' F- S 4y C7t e o c t. P6 CAQ, M+i4 V t to4Q- R- xti caat r ` �sV l atLs + t ` � tN r Mt1Cc c ' T n ) Agenda, Meeting Mintues Employee contributions, YNB Bank, Merrill Lynch data entry United City of Yorkville EST 1636 County Seat of Kendall County William Powell 800 Game Farm Road Treasurer Yorkville, IL 60560 0Pq 2� Phone: 630-5534350, east. 6008 CE Fax:Fax: 630-553-7575 .Jan 30, 2008 Subject: Adjusted Service Date for Glen Calvert In accordance with Cary Collins letter and direction from IDOI Glen Calvert's adjusted service date to be used for pension calculations is March 13, 1980, This date will be reported in future IDOI filings, bilj William Powell cc: Police Pension Board Cary Collins Denise Kasper 2 O .1% United City of Yorkville EST. ^R _ 1838 County Seat of Kendall County William Powell 14 I _ 800 Game Farm Road Treasurer O XT Yorkville, IL 60560 ® ' c� 20 Phone: 630-5534350, ext. 6008 CCE Fax: 630-553-7575 Jan 30, 2008 Messrs: Mtichell, Vaught, and Taylor Subject: Police Pension Asset Allocation United City of Yorkville On Jan. 30, 2008 the Police Pension fund balance was $2,572,821 .60. In accordance with IDOI policy, once the balance exceeds $2,500,000.00 investments are no longer limited to 10% in equities. Therefore the asset allocation for the equity portion of these funds may be increased going forward. JA' ,e William Powell cc: Police Pension Board Cary Collins, Attorney Mike Langenfeld, IDOI ti C) CO) Clq b O O\ d' 00 h V U h 00 h 00 O 00 O O O O O N cn U �T A. N 4. N O ti O W o ' O ro 0 0 0 0 Q 0 0 0 0 y y N C-4 m m N x ti o 00 O\ M \o O — Ty c� v C) C) b O «3 vi Cl 00 Cd Cd❑ N N W 00 O y y Q O M VI GO O o) h W W -cd cd 0 '7' v� a\ 00 v o Pi N 91 d , O 69 r 00 � N co r- H v v o v c 3 v o y yam` d o 0 0 0 o r O y N N N N O N y 44i x O c V N N N N TS tOO � y ti ON 03 o y o a o cq a ' cri ti Hw rh /� N� � ai � c7 �C From: Micbael Peterson <mpeterson @VillageOfGrayslake.com> i To: WM E POWELL <wpnkp8l @sbcglobal.net> Sent: Tuesday, February 26, 2008 3 :01 : 10 PM Subject: RE: Police Pension Tax Procedure I will send your request via Ehelp. Grayslake does not deal with the tax issue or pension payments. As part of our Fixed Income Investment Services, we included a clause that requires the broker (Ailegiant) to pay our beneficiades and make all necessary tax reports and 1099-R filings. One small bit of advise, do not send a 1099-R to any beneficiary that is receiving an 1n the line of duty" disability pension. The IRS has been verbally telling us this for the past two years. If you need more information on this subject, let me know. RE Police Pension Tax Procedure Standar Susan Mika <smfka@iyorkvitie 1us> ia-'' Uew Tuesday, February 26, 20081 To lNM E PMELL <wpn"16sbcglobaLnet>; Mke City(Peterson Grayslake) <mpetersoni @villageofgrayslake.rnm> Cc: Harold City(Martin) <hmartin @yorkvrlle.il.us>; Denise City(Kasper) ¢dkasper@yorkvlle.il.us>r Jennifer Milewski <jrrilewsld@ yorkvi1le.il.us> All The City would not get involved with this because we are not the ones authorizing and issuing early distribution payouts.. 1 I thought Kelly Zibinski was your accountant. Shouldn't she be processing this? She does the 11701 fling, right? Susan Mika Finance Director United City of Yorkville 630. 563 .8534 Direct 630. 553.7575 Fax From: WM E POWELL [mailto :vapnkp8l(Lnsbcglobal.net) Sent Tuesday, February 26, 2008 10 :48 AM To: Mike City(Peterson Grayslake) Cc: Harold City(Martin); Denise City(Kasper); Susan Ci4r(Mika) Subject. Police Pension Tax Procedure Nae, I am looking for any procedures or examples that deal vc ith tax issues for Police Pension fund e: distributions and actual pension payments- Form 1099-R and 1972 may apply. Thanks in achrance, Bill Powell: United City of York ge iN pnk-p81 u.sbcplobaLnet Subject: Police Pension Tax Issues for Early Distributions United City of Yorkville Police Pension Plan is a "Defined Contribution Plan" since the employees contribute to the pension fund. When an officer decides to leave the department he may leave his funds in the pension plan, transfer them to another qualified pension plan, or withdraw his contributions.. If he decides to withdraw his contributions the city will issue a form 1099-R. As a total distribution of his pension dollars, IRS form 4972 may also apply. Withholding form W-4P will also be needed. Forms may be ordered from the IRS website at www.IRS.gov or by calling 1-800-829-3676. (Note: Forms found on the website are not scannable and therefore cannot be used to file formal documentation with the IRS.) Form 1099-R copies B, C, and 2 should be furnished to the recipient by February 2M. IRS assistance may be requested for completing the 1099-R format 1 -866-455-7438. Form 1099-R will be filled out according to the officer's specific information such as age, disability, taxable or nontaxable contributions, etc. When the officer decides to leave the department a letter will be written informing him of his taxable and nontaxable contributions to the pension plan. A form W-4P, "Withholdings Certificate for Pension or Annuity Payments" will be enclosed. The letter will recommend that the recipient seek advice from a tax consultant before requesting a check withdrawing his funds from the pension plan. The example below is for an officer who is taking an early distribution, is not disabled, whose contributions are all taxable, and is under age 59 '/ Example: Officer John, aged 35, taxable contributions to the plan = $ $25,000.00. Officer John requests a personal check of $25,000 and elects no tax dollar withholdings on form W-4P. See Sample 1099-R attached. file: Early Withdrawal of Funds.doc ❑ CORRECTED (if checked) PAYER'S name, street address, city, state, and ZIP code 1 Gross distribution OMS No. 1545-0119 Distributions From U N tTF 9 L � I c k V i L.L & Pensions, Annuities, o Q. $ �.S G p J w �_ Retirement or go y 6 A hLE q n M ` ) Profit-sharing � 0 2a Taxable amount CSO Plans, IRAs, Y ° a k J l,t_LE j MS — o, Insurance $ � Insurance 1099-R Contracts, etc. 2b Taxable amount Totaic Copy B not determined ❑ distribution Report this PAYER'S federal identification RECIPIENT'S identification 3 Capital gain (included 4 Federal income ax income on your number number t in box 2a) withheld federal tax 0V::f— Lc.. e.YL. .3311., ( return. if this 39 - 366 1943 S -44- $ $ form shows federal income RECIPIENT'S name y 5 Employee contributions 0 Net unrealized tax withheld in (7 r E"t C CA. Zt u �"�� /Designated Roth appreciation in box 4, attach contributions or employer's securities insurance premiums this copy to $ $ your return, Street address (including apt. no ) 7 Distribution IRA/ 0 Other Z ,3 M.A t a1 S �. code(s) / I SIMP� This Information is ' 1. ) $ being furnished to the Internal City, state, and ZIP code 9a Your percentage of total 96 Total employee contributions Revenue Service. p ,(L,VL Stu, 0 O distribution °ro $ 1st year of desig,. Roth contrib.. 10 Stale tax withheld 11 State/Payer's stale no 12 State distribution $ $ . . . . .. .... . ... .. ._... .. .. . ... . .. ._ . . . . _.. . .. . .. ... . ..... .... .. . . . .. .. . .. ... ... __. __ _. Account number (see Instructions) ttjj_, 13 Local tax withheld 14 Name of lo 15 Local distribution C) CEYI.. 4-6 `�R N SS * . ... . 1 . . .. __$$_ - -- .. . . . _.. . . . . ... . . . __ . . . .. .. . . .. ... . . . . .. . .$$-_. ____ _ _.. . . .. .. Form 1099-R �( n C Department of the Treasury(- Internal Revenue Service � \ � 7 2 t X 14 i'tL 'k) I Nom . SAnnQL � ( uI'171A � ,� awA (_ Aug 7, 2007 Officer John (Subject: Statement of Contributions to the United City of Yorkville Police Pension Fund The statement below shows your contributions in the United City I Yorkville Police Pension Fund as of your resignation. It is recommended that you discuss your options on dispersal of funds with a tax consultant before you request any action. Taxed Tax Deferred Contributions Contributions' j INIRF funds transferred: $ $ IMRF funds transferred in 2006 $ $ You have contributed the following amounts: Your portion of the INIRF transfer: $ $ Transfer of Service Credits and Funds $ $ Fiscal Year $ Current Fiscal Year to Date $ $ Total Contributions: $ The value of the United City of Yorkville Police Pension fund was: Schwab $ Yorkville National Bank: $ Total: $ Please retain this letter for your records, William Powell Treasurer United City of Yorkville ' file: Early Withdrawal Employee Letter. doe