Police Pension Minutes 2014 02-11-14 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630) 553 -4340
S : OOPM on February 11 , 2014
Police Department Conference Room
Minutes
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Attachments :
Meeting Minutes for November 12, 2013 President/Secretary to sign
Meeting Minutes for April 02, 2013 President/Secretary to sign
Monthly Treasurer' s Report as of December 31 , 2013
Bills for Payment
Meeting Call to Order: By President Overmyer at 5 : 05 p .m.
Roll Call: Present: Mr Overmyer, Mr Sibenaller, Mr Goldsmith, Mr Du Sell
Guests: Atty Cary Collins, Mr Vaught of Mitchell Vaught and Taylor, citizen Larry De Bord
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Citizen Comments:None
Previous Meeting Minutes: November 12, 2013
Corrections/Approval Motion to approve: Mr Sibenaller, 2nd Mr DuSell Ayes 4 Nays 0
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Motion to Approve:
Previous Meeting Minutes: Apri102, 2013 Special ineeting
Motion to approve Mr DuSell 2nd Mr Sibenaller Ayes 4 Nays 0
Communications: new hires see below
Monthly Treasurer's Report: as of December 31 , 2013
Motion to Defer: Mr'DuSell 2nd Mr Sibenaller Ayes 4 Nays 0
Treasurer was not available due to other city business
Bills for Payment:
Zabinski Consulting Services (2013 IDOI filing) $ 1 ,350 .00
Zabinski Consulting Services (Sep-Dec 2013) $ 633 .33
IPPAC (Winter Seminar Training DuSell and
Sibenaller) $ 50. 00
Training Travel Reimbursement (Fred DuSell) . $ 66. 89
Collins and Radja: Attorney $ 750 .00
Total Bills for Payment: $ 2, 850 .22
Motion to Approve: Mr DuSell 2nd Mr Sibenaller Ayes 4 Nays 0
Investments :
Progress Reports from Mitchell, Vaught, and Taylor Rising yields are reducing coupon yields on fixed. returns.
MVT will be staying short on high quality corporate bond. While an option is with triple B bonds they prefer to stay
liquid and safer in our fixed portfolio . Total fixed portfolio value $2,896,689. A net gain of 1 .26% for the 4d' qtr. 2013
MVT has offered us a training conference at a White Sox game August 16 . 2014
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Progress Reports from Great Lakes Advisors A written report was submitted from GLA showing a net 3 . 17 % j
loss for the reporting period. Total market value as of 1 -31 -2014 is $2,510,341 . 17
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Unfinished Business : Investment policy information needs verification
New Business :
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Personnel Changes and Additions:
New Hire: Kyle Davis 12- 10- 13 new hires recorded , Will verify as tier 2 pensioners
New Hire: Chris Jeka 12- 10- 13
Additional Business :
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Reminder - Board member terms set to expire May 2014
-Overmyer, Sibenaller, Mikolasek, and Goldsmith
Citizen Comments : Citizen DeBord mentioned a concern for 3 securities in GLA holdings showing losses . One in
particular showing a 50% loss in value.
Next meeting:
Monday, May 12, 2014 5 : 00pm
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Motion to Adjourn: By Mr. DuSell 2nd Mr Sibenaller at 5 :33 p.m.
2014 meeting dates: Feb 11, May 12 (Monday), Aug 12, Nov 10 (Monday)
President Secretary
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