Police Pension Minutes 2013 11-12-13 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630) 553 -4340
5 : OOPM on November 12, 2013
Police Department Conference Room
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Minutes
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Attachments
Meeting Minutes for August 13 , 2013 President/Secretary to sign
Monthly Treasurer' s Report as of September 30, 2013
Bills for Payment
Board member annual statutory training summary
Actuary Report
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Meeting Call to Order: Greg Sibenaller 5 : 15pm
Roll Call: Present: Greg Sibenaller, Ray Mikolasek, Ryan Goldsmith, Fred DuSell, Rob Fredrickson
Guests: Larry DeBord, citizen; Kelly Weller, Great Lakes Advisors; John Mitchell, Mitchell, Vaught, and
Taylor; Cary Collins, Attorney (5 :30pm) j
Citizen Comments : Larry DeBord question to Kelly Weller — Will this portfolio be similar to Sycamore Fire Pension
Fund portfolio that GLA manages? Kelly Weller — Answer depends on decisions made by board at meeting. Larry
DeBord - Who is custodian? Kelly Weller — Will continue to use Schwab .
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Previous Meeting Minutes: August 13 , 2013
Corrections/Approval
Motion to Approve: Fred DuSell 2°d Greg Sibenaller Ayes 4 Nays 0
Communications : IPPAC Winter Seminar December 6
Monthly Treasurer' s Report: as of September 30, 2013
Rob Fredrickson — Total Fund value as of September 30 was $5, 570, 148 ($5 , 117,289 Investments, $452, 859 j
Cash)
Motion to Approve: Fred DuSell 2°d Ray Mikolasek Ayes 4 Nays 0
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Bills for Payment:
United City of Yorkville $ 2,526 .46
Zabinski Consulting Services (July-Aug 2013 ) $ 316.66
Collins and Radja: Attorney $ 750 . 00
Total Bills for Payment: $ 3 ,59112
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Motion to Approve: Ray Mikolasekc 2"d Ryan Goldsmith Roll Call vote: Ray Mikolasek, Aye; Ryan Goldsmith, Aye;
Fred DuSell, Aye; Greg Sibenaller, Aye.
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Investments : j
Progress Reports from Mitchell, Vaught, and Taylor
John Mitchell: Presented new contract to manage fixed income assets . Signed by Vice President Greg Sibenaller
and Secretary Ray Mikolasek. Good investment gains this quarter of $ 185,637 . Ending Value of Portfolio is
$53223 ,3571
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Unfinished Business :
Presentation by Kelly Weller of Great Lalces Advisors — Investment strategy
Kelly Weller (GLA) :Board needs to amend investment policy to allow GLA to do what we have asked. Board decided
to use investment policy suggested at last meeting by MVT. Motion to Approve : Fred DuSell 2nd Ray Mikolasek
4 Ayes 0 Nays. Kelly Weller suggested Treasurer Rob Fredrickson ask Schwab for a flat rate fee rather than
transaction fee. Will save fund money in long term due to large number of transactions . Kelly presented GLA
Al1Cap investment strategy. Ask board for approval to proceed with investment strategy. Motion to Approve: Fred
DuSell 2nd Ray Mikolasek 4 Ayes 0 Nays .
New Business :
Actuary Report — review and discuss tax levy amount
Rob Fredrickson: City to fund at higher level than suggested by Actuary. Expects tax levy to be around $614,000 .
Cary Collins to draft letter to city asking for actuary suggested tax levy amount.
Discuss Board member annual statutory training summary
Training report shows Todd Overmyer not meeting training requirements . Cary Collins to contact Todd and suggest
he meet his statutory training requirements or board will have to take action for his removal.
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Personnel Changes and Additions: None
Additional Business : None
Set 2014 meeting dates: Feb 11 , May 12 (Monday), Aug 12, Nov 10 (Monday) - Approved
Citizen Comments : Larry DeBord; Suggested Rob Fredrickson ask Schwab to lower transactions fees . Asked Kelly
Weller if GLA will have separate Schwab account than MVT. Kelly Weller: GLA will be separate so MVT and GLA
can only view their accounts, but Rob Fredrickson can view both accounts.
Next meeting:
Feb 11 , 2014 5 : OOpm
Motion to Adjourn: Fred DuSell 2nd Ryan Goldsmith 4 Ayes 0 Nays 6 : 55pm
2014 meeti g dates : Feb 11, May 12 (Monday), Aug 12, Nov 10 (Monday)
Pre ' de Secretary
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