Police Pension Fund Packet 2007 08-14-07 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, 11 60560
(630) 553-4340
AGENDA
5 :OOPM on Aug 14, 2007
Police Department Conference Room
Meeting Call to Order:
Roll Call:
Previous Meeting Minutes: Corrections/Approval
June 12, 2007
Communications:
Treasurer's Report:
Bills for Payment:
IDOI Fee: $316.60
Zabinski Consulting: $ 1000.00
Tim Sharp: $ 1300.00
Cary Collins: $
Bill Powell $
Investments:
Progress Reports from Mitchell, Vaught, and Taylor
Money transfers from YNB to Charles Schwab & Co
Pay to: Charles Schwab & Co,
Mail to: Mitchell, Vaught, and Taylor Inc Attn: Emily
124 South Webster Suite 202
Naperville, IL 60540
Unfinished Business:
Andrew Jeleniewski IMRF transfer statement.
Glen Calvert: Service date calculation
IDOI Annual Report filing
New Business:
Election of Board members and Officers
Request for pension fund refund for Jeff Ackland
Pension Application for Officers Bledsoe, Poulos, and Carlyle
Additional Business:
Fiscal Analysis of Illinois Pensions
Adjournment:
Next Meeting: 11 /13/07 @ 5PM
Yorkville Police Pension Fund Board
Yorkville Police Department
804 Game Farm Road
Yorkville, Illinois 60560
(630) 553 -4340
Meeting called to order: 06/12/07 17:07 hrs.
Roll call :
President Larry Debord present, Vice President Todd Overmeyer present, Treasurer
William Powell absent, Secretary Dan Pleckham present, Chief Harold Martin present,
Retiree Greg Sibenaller absent .
Guests Emily Dotson Mitchell Vaught and Taylor, Denise Kasper City of Yorkville.
Previous minutes:
Motion made to accept minutes as they are, L.D.., 2"' H.,M. (passed)
Communications:
Denise Kasper reviewed the payment structure for the new retiree's payment. This policy
was submitted to all members in attendance and reviewed.
Brief synopsis of policy is as follows:
Retiree's will have the option for insurance coverage through the City. Payment to
retiree's will be the last Friday of the month. Retiree's have received payments for May
and June 2007 and the payout will be 1 month in advance.
Direct deposit policy has been implemented. The 954 tax will be taken from the
pensioners payment.
Denise will mail copies of this program to retiree's.
Denise then exited the meeting,
Emily Dotson gave out to all members of the board a statement booklet outlining the
investment which we are allocated for.. A brief overview of that booklet is as follows:
Tab2 :
Through end of May Equities have done well, up 9% to approx. $36,000 dollars and the
total gain since inception is approx. $ 100,000 dollars.
Our portfolio is in a lower risk more conservative strategy with stocks and international
stocks doing very well. Emily recommended an increase from 25% to 30% diversity.
Sudan restrictions will possibly come back into effect.
Tab 3 :
Tracking a standard index/ benchmark we have been performing around 7%.
Our portfolio is performing well and is doing what the index is doing but, bonds are not
doing as well.
Tab 4:
International stocks are performing better than domestic stocks
Tab 5 :
Fund yield curve shows that our fund is following a normal yield curve where we get
" more bang for our buck" with short term securities.
Tab 6:
Portfolio statement shows growth up with securities along with bonds and stocks having
an overall value of 62, 130,000 dollars, breakdown as follows:
25% International stocks
7% Real estate
66% Domestic stocks
Emily recommends a boost in growth and international funds and continued by stating
that we are well funded with only 2 retiree's and are a growing community. Emily then
exited the meeting.
Communications :
Election of board officers to be held next month due to absence of a board member.
Treasurers report:
Unavailable
Unfinished business:
IDOI results from actuary Tim Sharp. Bill Powell is working on and will be presented at
next meeting
New Business:
Election of board members. Chief Martin and Officer Pleckham were re-elected to the
board again by default due to the fact no one else submitted names for election.
Adjournment:
1810 hrs,
*,cep C/; y United City of Yorkville
800 Game Frame Road
Yorkville, Illinois 60560
ESi. ^� 1836 Phone 630-553-1887 William Powell
- Fax: 630-553-7575 Treasurer
o ®n ; � w n%G
<LE
Treasurer's Report
(As of July 31 , 2007)
Dollars Percent
Cash: YNB 36,047.42
Schwab 117 585.41
Total Cash: $ 153432.83 7. 1 %
Schwab:
Fixed Securities: 1 ,789,891 .86 82,9%
Equities: 215.722.87 10.0%
Total Assets: $ 21159,247.56
Employee Contributions YTD: $45,591 .53
2005 Tax Levy Estimate: (paid in 2007) $2757000.00
1y'el .,
William Powell
Treasurer
United City of Yorkville File: r Report 073107,doe
United City of Yorkville
T 800 G<une Rum Load
j Yorlc\ ille, Illinois 60560
Phone 630-553-4.350
Fax , 630-553 -7575
William Powell
Treasurer
To Police Pension Board
City Council
United City of Yorkville
Subject. Annual Police Pension Fund Activity for Fiscal Year May 1 , 2006 to April 30, 2007
(As required by Illinois State Statue 40ILCS 5/3 — 141)
Beginning Balance as of May 1 , 2006 . 1 ,574,459 .32
As of April 30, 2006.
Old Second Bank : 96,792 38
Schwab (MVT): 2,041 ,538. 81
Fiscal Year End Balance. 211382331 19
Total Investment Income, 111 ,450 00
Contributions.
Fiscal 06-07(Act) Fiscal 07-08(Est)
Employees. 154,442 .45 200,000 .00
IIv1RF Transfers 46, 172 00 000
Tax Levy . 248,987 . 74 275,000 00
Expenses Paid.
Supplies: 000 10000
Legal Fees. 1 ,200 ,00 .3,600 00
Accounting /Minutes 86000 1 ,200. 00
Audit Fees: 000 2,000 00
IDOI Filing Fees. 0 .00 1,200. 00
Actuarial Fees: 000 1 , 500 00
Investment Fees: 8,266 00 10,000 00
IDOI Annual Compliance Fees 225 .95 25000
Retirement Payments 0.00 120,000.00
Total Expenses D 1M551 95 1397850 00
Submitted by. v / � '
i ' ar r 'owel Inited City of Yorkville Treasurer
Approved. _
L, eb rd . reside t D e cIt m : Se —_
Annual pension stmtF2006 doe
Police Pension Accounting Services Log for Fiscal 2005 2006
Date Activity n Hours "
07 L> A'T� . G .. � eQan...± N L1J' i. 1'o N. :..: , 6e 6
4 ' krt,4 i ti tJ:cT L= w � t_ E , s. { c -+ Li:fl '� fk .
E e r cr F o c r c e Ld
ZZ lu 1 ZvG O .�S Ca /ti-C• •. S +.� � b
x`1.0 lL }' � ✓0 A-.1 {' F'"c rte{ -r-- �
�� .L7 W C Al C A)�'L� A ! C.. r o G)
"f, C M A t L- 4&111 To 4 C I 3n.t r i fi�rn.•Lr a
lrr - a
71 -5 EMAIL A . , .JSLR ON A Cc .,/LJ 4C. A--L• V !
-1 S'T 0/ *4 LJT 7-ti
r �
�-'iT�•-
f !L•cU i /tE c nA.T{ r"o .— P, UIS , .{.a r� n
L O d F It I� 0u 4E O
. AtL, us' f Cur
o � r
N O c fl- Ls •S% 7-rN rf j- e ZIA Ifry L c:7'7-eh 2 �S
FIN Lt
Ft !,4P p(LCAuIl r, : J rnl F) � ti o
S J 1 L CIL "' 1 o L S c t�a f i
g Lv _ = r - O vS
1 1 , 5Un N = X137 . sa 7 , 5- L
Agenda , Meeting Mintues
Employee contributions, YNB Bank, Merrill Lynch data entry
Quarterly member contributions letters
State of Illinois internet filing for fiscal year end
file: Police Pension Time Log As