Police Pension Minutes 11-14-05 APPROWED
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Yorkville olive Dept. Pension Board
004 Gaine Farm rd,
Yorkville, Illinois
60360
President: Larry Debord Vice President: Todd Overmyer
Treasuer: William Powell Secretary : Officer Dan Plecichana
Asst. Secretary: Chief Harold Martin.
Meeting, Called to Order: 11/14/051545 His,
Roll Call:
Present Bill Powell, Chief Harold Martin, Larry Debord, Officer Dan Plecichan-r,
Atty. Cary Collins, Merrill Lynch Brad Kitchener
Previous Minutes read and corrections made for May 10,2005 and Aug. 09, 2005
Correa un5cations: Brad Kitchener from Merrill Lynch made mention of account
activities and gave out statements to members of the board,
IDOI filing, P„ Cernekee was improperly listed and the file was rejected. Bill Powell, had
a program problem and should be done by the end of the month with help from Molly
and be refilled by the end ofthe rnontla.
Dan attended seminar in Oct. 05 sponsored by Cary Collins and went over information
regarding pension laws for line of duty injury, etc.
Treasurers Report: as of 10/31105 Cash---------------$284,963.38
Fixed CD's-------$1,001,099.69
Mutual funds----4111,217.36
Estimated Accrued Interest----$8.989.34
Total (whounding)$1,406,269.97
Old Second Checkin---------$8063.29
Total Balance-- . __--$1,414,333.
Maturing CD's
Provident: 111.21105 $55,000
Georgian: 11/28/05 $95.000
Total: $1.50,000.00
Total estimated fiords for investment:
$434,9613.58
Motion to accept Treasurers report: H,M 2"d D.P. carried
Bilis for payment:
Atty.. Fees $500.00 4"' quarter
Treasurers fees $460..00 for Aug, Sept, Oct
Under unfinished business: review of the Fund Mgt, Firm
Leaving Merrill Lynch and firing MitchelINaught& Walker
Motion to accept H.M. 2°a L.D. carried
New Business:
IMRF buy bark ends .Jan.2006 last day for filing will be 12/31/05
Officers effected were advised to submit letter of intent via registered mail
Actuarial study for 2005 Tiny Sharp was to be fired for the study on a yearly basis,
Harold would call and set up contract motion H.M. 2'd L.D. carried
Meeting dates set for upcoming year: 02/14/2006
05/09/2.006
Motion to adjourn:
1735 firs, H..M, 2°' L.D. carried