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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 --------------------------------------------------------------------------------------------------------------------------------- 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 ✓=e-� /���,��-cam` ���.�����`� President Secretary