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
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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