Police Pension Minutes 2013 08-13-13 i
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630) 553 -4340
5 : OOPM on August 13 , 2013
Police Department Conference Room
Minutes
Attachments :
Meeting Minutes for May 13 , 2013 President/Secretary to sign
Meeting Minutes for Jun 21 , 2013 Special Meeting
Meeting Minutes for Jul 15, 2013 Special Meeting
Monthly Treasurer' s Report as of June 30, 2013
Bills for Payment
Meeting Call to Order : President Todd Overmyer 5 : 03pm
Roll Call: Present: Mr. Sibenaller, Mr. DuSell, Mr. Fredrickson, Mr. Mikolasek, Mr. Goldsmith, Mr. Overmyer
Guests : Dwight Ower and John Mitchell, Mitchell, Vaught and Taylor; Cary Collins, Attorney; Larry
DeBord
Previous Meeting Minutes: May 13 , 2013
Corrections/Approval :
Motion to approve : Mr. DuSell 2"d Mr. Sibenaller 5 Ayes 0 Nays
Jun 21 , 2013 Special Meeting
Corrections/Approval
Motion to approve: Mr. DuSell 2nd Mr. Mikolasek 5 Ayes 0 Nays
July 15, 2013
Corrections/Approval
Motion to approve: Mr. DuSell 2nd Mr. Mikolasek 5 Ayes 0 Nays
Communications :
Monthly Treasurer' s Report: as of June 30, 2013
Motion to Approve: Mr. Mikolasek 2nd Mr. Sibenaller 5 Ayes 0 Nays
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Bills for Payment:
MVT Management Fee : (Jul - Sep 2013 ) $ 5,534 . 00
From Schwab Acct: 3137-9036
Zabinski Consulting Services (May-June 2013 ) $ 316 . 67
IPPAC Conference Tuition (Ryan Goldsmith $ 1 ,050 . 00
Greg Sibenaller, Ray Mikolasek, Fred DuSell)
Greg Sibenaller (IPPAC Conference Lodging —
(Ryan Goldsmith, Greg Sibenaller,
Ray Mikolasek, Fred DuSell) $ 810 . 96
IPPAC Annual Membership Fee $ 500 . 00
Collins and Radja: Attorney $ 15350 .00
Total Bills for Payment: $ 9,561 .63
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Motion to Approve : Mr. DuSell 2nd Mr. Goldsmith j
Roll Call Vote : Mr. Mikolasek Aye, Mr. DuSell Aye, Mr. Sibenaller Aye, Mr. Goldsmith Aye, Mr. Overmyer
Aye .
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Investments :
Progress Reports from Mitchell, Vaught, and Taylor
John Mitchell:
Included Growth and Emerging Markets Equity Overview in packet
Fund has net investment gain of $ 1 ,465,600 since 03/31/2006
Discussion of internationals
o Oakmark International was brought back into fund and beat benchmarks + 10 . 93 %
o Lazard Emerging Markets has been in portfolio for a long time +2 .42%
Domestics
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o Artisan Mid Cap +3 .27%
Negatives
o Domestics outperformed foreign stocks
o worst bond market in fifty years, investment grade worst since 1986
o bought Walmart (corporate bond) last quarter and it performed poorly
Overall � (
o Since inception of fund the tim waite . •oss gain is 6 .2% which is one percent over the
Yorkville Investment Policy benc mark
Next quarter strategy
o Will look for short duration bonds due to rising rates negatively affecting long duration bonds
o Looking to bleed off mortgage backed securities
Unfinished Business :
Finalize agreement with Great Lakes Advisors to manage equities
Moved till later date until blanks are filled in on contract and signed by President and Secretary
Cary Collins : language and terms have been fmalized
New Business :
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Personnel Changes and Additions:
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Additional Business :
Pension Beneficiary Certification Forms sent out
Have received all back from beneficiaries but one
- Blue pension books are finished and will be delivered soon j
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Next meeting:
Nov 12, 2013 5 : 00pm
Motion to Adjourn: President Todd Overmyer 5 : 36pm
2013 meeting dates : Feb 12, May 13 (Monday), Aug 13 , Nov 12
Presi e Secretary
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