Police Pension Minutes 2018 11-13-18Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
630)553-4340
5:00PM on November 13,2018
Police Department Conference Room
Minutes
Attachments:
Meeting Minutes for August 14,2018 President/Secretary to sign
Monthly Treasurer's Reports
2018 Actuarial Valuation Report
Investment Policy and Addendum Revisions
Bills for Payment
Meeting Call to Order: 5:04pm by Greg Sibenaller
Roll Call:Present: Ray Mikolasek,James Jensen,Greg Sibenaller,Rob Fredrickson,Ryan Goldsmith(5:13pm)
Guests: Steve Calcaterra,Attorney; Kelly Weller,GLA;Larry Richey,GLA; Larry DeBord,citizen.
Citizen Comments:None
Previous Meeting Minutes: August 14,2018
Corrections/Approval-None
Motion to Approve:Joe Gillespie, 2nd James Jensen, 4 ayes 0 nays
Communications:None
Monthly Treasurer's Report: June,July,August, &September 2018
Motion to Approve:Joe Gillespie, 2nd Ray Mikolasek, 4 ayes 0 nays
Bills for Payment:
MVT Management Fee:(Jul-Sep 2018) 4,515.00
From Schwab Acct: 3137-9036
UCOY Postage Reimb(Aug-Oct) 14.72
Lauterbach&Amen(Audit Prep) 2,650.00
Zabinski Consulting: (Jun-Oct) 791.70
Collins and Radja: Attorney 775.00
Total Bills for Payment: 8,746.42
Motion to Approve:Joe Gillespie, 2nd James Jensen. Roll call vote:Joe Gillespie, aye;Ray Mikolasek,aye;James
Jensen, aye; Greg Sibenaller, aye.
Investments:
Progress Report from Great Lakes Advisors.
Laurie Waltson(GLA)by telephone: Provided an overview of the portfolio performance. Third quarter return
was 8%which was greater than the 7.1%Russell 3000 benchmark. Third quarter ended September 30.Market was
volatile in October and the portfolio underperformed the benchmark. Following the teleconference,Kelly Weller and
Larry Richey provided more in-depth analysis of the portfolio and the market. Weller and Richey finished by
answering board member questions.
Unfinished Business:None
New Business:
2018 Actuarial Valuation Report
Motion to accept Report:Joe Gillespie, 2nd Ryan Goldsmith, 5 ayes 0 nays
Investment Policy and Addendum Revisions(fund over$10 million)
fund surpassed the$10 million mark which allows the board to invest 65%of assets in equities. Investment
policy changed to reflect the new statutory limits.
Motion to accept changes to investment policy with pg 15 replaced by 2018 addendum:Joe Gillespie, 2nd James
Jensen, 5 ayes 0 nays
Personnel Changes and Additions:
Dan Pleckham has announced his intention to retire November 19. Cannot collect pension at this time. Will turn 50
on March 10,2019. Pension calculations will be available for February meeting.
Additional Business:
Robert Harris' pension fund contributions have been refunded back to him in the amount of$4,311.71,with$862.34
20%)being withheld for federal income tax. Filed.
Set 2019 meeting dates: Feb 12,May 21,Aug 13,Nov 12
Motion to accept meeting dates:James Jensen, 2nd Joe Gillespie, 5 ayes o nays
Citizen Comments:
Next meeting:
February 12, 2019 5:00pm
Motion to Adjourn: 6:47pm by Joe Gillespie, 2nd Ray Mikolasek, 5 ayes 0 nays
2019 meeting dates:Feb 12,May 21,Aug 13,Nov 12
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