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Police Pension Minutes 2017 02-14-17 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, EL 60560 (630)553-4340 5:OOPM on February 14,2017 Police Department Conference Room Minutes Attachments: Meeting Minutes for November 8,2016 President/Secretary to sign UCOY Travel Expense Policy Monthly Treasurer's Reports Bills for Payment --------------------------------------------------------------------------------------------------------------------------------- Meeting Call to Order: 5:05pm by Fred DuSell Roll Call: Present: Joe Gillespie,Ray Mikolasek,Ryan Goldsmith,Fred DuSell,Rob Fredrickson Guests: Cary Collins,attorney; Larry DeBord, citizen Citizen Comments: None Previous Meeting Minutes: November 8,2016 Corrections/Approval Motion to Approve: Joe Gillespie,2nd Ryan Goldsmith 4 ayes 0 nays Communications: Letter from Collins&Radja-regarding increase in attorney's fees and new legislation covering travel reimbursement Monthly Treasurer's Report: October,November,December 2016 Motion to Approve: Joe Gillespie,2nd Ray Mikolasek 4 ayes 0 nays Bills for Payment: MVT Management Fee: (Jan-Mar 2017) $ 3489.00 From Schwab Acct: 3137-9036 Great Lakes Advisors Fee: (Oct-Dec) $ 2,387.78 Acct: 90733303 Great Lakes Advisors Fee: (Oct-Dec) $ 1,072.11 Acct: 56737766 Zabinski Consulting Services(Oct-Dec 2016) $ 633.34 UCOY Postage Reimbursement(Oct-Dec) $ 24.59 Collins and Radja: Attorney $ 775.00 Total Bills for Payment: $ 8,381.82 Motion to Approve: Joe Gillespie,2nd Ray Mikolasek Roll Call: Joe Gillespie, aye; Ray Mikolasek, aye; Ryan Goldsmith, aye; Fred DuSell,aye. Investments: Progress Report from Mitchell,Vaught and Taylor,Inc. -no report,not present. Miscommunication occurred and a representative was not invited. Unfinished Business: Update on Officer Pleckham's creditable service buyback? -Check was received from Harvey Police Pension Fund and was deposited in Yorkville Police Pension Fund. -Officer Pleckham bought back 1 year, lmonth,and 8 days of creditable service -Buyback would move Officer Pleckham's pensionable date from 12/15/96 to 11/08/95. -Motion to Approve: Joe Gillespie,2nd Ryan Goldsmith,4 ayes 0 nays New Business: Adopt City's Travel Expense Policy -Board decided to adopt United City of Yorkville Travel Expense Policy for the Police Pension Board. -Motion to Approve: Joe Gillespie,2nd Ray Mikolasek,4 ayes,0 nays Personnel Changes and Additions: New Hire: Brendan Heye-01/04/2017-Tier H -Application for Admission-Board decided to accept admission -Motion to Approve: Joe Gillespie,2nd Ray Mikolasek 4 ayes 0 nays Additional Business: -Board does not wish to release executive session minutes at this time.List of executive sessions to be compiled for next meeting. 2017 meeting dates:Feb 14,May 23,Aug 8,Nov 14 Citizen Comments: Larry DeBord:The Al1Cap portfolio managed by Great Lakes Advisors(GLA)has done really well. Net beat the S&P 500 by 150 basis points. He believed that performance is easily in the top 2-3%of all money managers. They continually show they know what they are doing. Bad news is mutual fund side of portfolio. Mutual funds were 5/8 of 1%above S&P 500. Doesn't hold GLA responsible for that. Mutual Funds are very small percentage of portfolio that GLA manages. Recommended moving more money from mutual funds to stock side of portfolio. Next meeting: May 23,2017 5:OOpm Motion to Adjourn: Joe Gillepsie,2nd Ryan Goldsmith 4 ayes 0 nays 5:40pm Preside Secretary