Police Pension Minutes 2016 11-08-16 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
(630)553-4340
5:OOPM on November 8, 2016
Police Department Conference Room
Minutes
Attachments:
Meeting Minutes for August 9,2016 President/Secretary to sign
Monthly Treasurer's Reports
Officer Pleckham Creditable Service Transfer Paperwork
James Presnak Pension Benefit Calculations
Bills for Payment
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Meeting Call to Order: 5:05pm by Fed DuSell
Roll Call: Present: Joe Gillespie,Ryan Goldsmith,Fred DuSell,Rob Fredrickson
Guests: Larry Richey and Kelly Weller of Great Lakes Advisors; Cary Collins,attorney(5:29pm)
Citizen Comments:None
Previous Meeting Minutes: August 9,2016
Corrections/Approval-None
Motion to Approve: Joe Gillespie,2nd Ryan Goldsmith 3 ayes 0 nays
Communications:None
Monthly Treasurer's Report: July,August,and September 2016
Motion to Approve: Joe Gillespie,2nd Ryan Goldsmith 3 ayes 0 nays
Bills for Payment:
MVT Management Fee: (Oct-Dec 2016) $ 3532.00
From Schwab Acct: 3137-9036
Great Lakes Advisors Fee: (Jul-Sep) $ 2,284.37
Acct: 90733303
Great Lakes Advisors Fee: (Jul-Sep) $ 1,076.35
Acct: 56737766
Zabinski Consulting Services(July/Sep 2016) $ 475.01
UCOY Postage Reimbursement(Aug-Sep) $ 7.91
IPPAC Ethics Training(Goldsmith) $ 175.00
Collins and Radja: Attorney $ 750.00
Lauterbach&Amen,LLP $ 5,180.00
Total Bills for Payment: $ 13,480.64
Motion to Approve: Bills amended to reduce the amount of payment for Lauterbach&Amen,LLP from$5,180.00 to
$2,650.00. This new amount only pertains to the police pension fund and should reflect a new total for bills for
payment in the amount of$10,950.64.
Joe Gillespie,2nd Ryan Goldsmith 3 ayes 0 nays
Investments:
Progress Report from Great Lakes Advisors.
Kelly Weller- In summary from Great Lakes Advisers on our investment progress. We had a
dip early in the quarter from uncertainty on the election. The dip was in line with our benchmarks and
recently showed a rebound. Emerging Markets have helped our portfolio.
The international markets are expected to improve.
Our 5%cash position will be invested incrementally into equities as markets improve, and they will give us
asset allocation recommendations in February.
Unfinished Business:
Update on Officer Pleckham's creditable service buyback?
Harvey police pension fund check has been deposited in the bank account. Awaiting the total calculations from
Zabinski for total time,combining Harvey and Yorkville police credible service and coming up with an artificial start
date.
New Business:
Actuarial Valuations-Tim Sharpe and IDOI
Rob Fredrickson-Actuarial valuations were sent to board members via email. City's employer contributions went up
to 968,000 from 825,000 in the current year. Fund did not have the best year.Money weighted return negative 43
basis points.The mortality tale changed to every 2 years to help eliminate large jumps.The levy will have to be
passed and the proceeds will be deposited into the police pension fund.
Personnel Changes and Additions:
Retirement: Sgt. James Presnak- 11/26/2016
Motion to accept-Joe Gillespie,2°d Ryan Goldsmith
Pending the calculations(to be added to minutes upon receiving)
3 ayes 0 nays
Additional Business:
Set 2017 meeting dates: Feb 14,May 23,Aug 8,Nov 14
No conflicts at this time
Citizen Comments:None
Next meeting:
February 14,2017 5:00pm
Motion to Adjourn: Joe Gillespie,Fred DuSell 3 ayes 0 nays
President Secretary