Police Pension Minutes 2015 11-10-15 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, IL 60560
(630)553-4340
S:OOPM on November 10,2015
Police Department Conference Room
Minutes
Attachments:
Meeting Minutes for August 11,2015 President/Secretary to sign
Monthly Treasurer's Reports July,August and September 2015
2015 Actuarial Valuation Report
Bills for Payment
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Meeting Call to Order: 5:01pm by Fred DuSell
Roll Call: Present: Fred DuSell, Greg Sibenaller,Ryan Goldsmith,Ray Mikolasek,Rob Fredrickson , T oc G l u C5p it
Guests: Larry DeBord, citizen;Larry Richey,GLA; Chris Friedberg,Attorney's Representative
Motion to Amend Agenda to account for resignation of officer:
Joe Gillespie,2nd Ryan Goldsmith 5 ayes 0 nays
Citizen Comments:None
Previous Meeting Minutes: August 11, 2015
Corrections/Approval
Motion to Approve: Joe Gillespie, 2nd Ryan Goldsmith 5 ayes 0 nays
Communications: Class action lawsuit involving Walgreens stockholders
IPPAC Continuing Education Winter Seminar December 4th.
Monthly Treasurer's Report: July,August and September 2015
Motion to Approve: Greg Sibenaller,2nd Joe Gillespie 5 ayes 0 nays
Bills for Payment:
MVT Management Fee: (Oct-Dec 2015) $ 3,215.21
From Schwab Acct: 3137-9036
Postage Reimbursement -City of Yorkville
(October 2015) $ 3.40
Lauterbach&Amen(Pension Fund Audit) $ 2,600.00
Zabinski Consulting Services(July-Oct 2015) $ 633.33
Zabinski Consulting Services (IDOI Filing) $ 1,350.00
Collins and Radja: Attorney $ 750.00
Total Bills for Payment: $ 8,551.94
Motion to Approve:Joe Gillespie,2nd Ray Mikolasek;Roll Call Vote: Joe Gillespie,Aye; Greg Sibenaller,Aye;
Ryan Goldsmith,Aye; Ray Mikolasek,Aye; Fred DuSell,Aye.
Investments:
Progress Reports from Great Lakes Advisors.
Larry Ritchie gave a report.While our investments were down,they were better than our benchmark Russell
3000 and S&P 500 performance.
Unfinished Business:
Update on Officer Pleckham's creditable service buyback?
Rob Fredrickson to follow up
New Business:
-IRS letter delivered regarding IDOI
-IDOI internal rate of return over ten years is 5.54%
-Actuarial Report page 5, city will meet$825,000 tax levy
Personnel Changes and Additions:
Resignation: Andrew Gatz-November 02,2015
Additional Business:
Set 2016 meeting dates: Feb 9,May 24,Aug 9,Nov 8
Citizen Comments: Larry DeBord-complimented Great Lakes Advisors on their performance as they were 71 basis
points ahead of the S&P 500.
Next meeting:
February 9,2016 5:OOpm
Motion to Adjourn: 5:56pm Joe Gillespie,2nd Greg Sibenaller 5 ayes 0 nays
2016 meeting dates: Feb 9,May 24, Aug 9,Nov 8
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President Secretary