Police Pension Minutes 2003 11-03-03Z/a a/ C3
Yorkville Police Dept. Pension Board
804 Game Farm Rd.
Yorkville,Illinois
60560
President: Larry Debord Vice President: Todd Overmyer
Treasurer:William Powell Secretary: Officer Dan Pleckham
Asst. Secretary: Chief Harold Martin
Minutes: Meeting 11/03/03 called to order at 0747
Roll Call: Larry Debord present, Harold Martin present, Dan Pleckham present,
Todd Overmyer late arrival.
Guests: Treasurer Bill Powell, Atty. Gerry Fischer for Cary Collins, Brian Spears
from Merrill Lynch
Previous Meeting Minutes:
1. Were not readily available and will be read at next months mtg.
Communications:
1. Bill for Cary Collins retainer $500.00 for 4th quarter Motion H.M 2°4 D.P
2. 4.5 hrs. of services to Bill Powell $90.00 Motion H.M, 2°d L.D
Treasurers Report: Merrill Lynch ready assets fund.
1.Total assets in fundas of 10/31/03 $647,460.13 given by Brian Spears
2.Checking balance as of 10/31/03 $5,589.24 read by Bill.
Bill made a $5.00 error in boards favor and corrected
motion to accept tres. rept. Harold 2°d Dan
Bills for payment:
See above communications
Unfinished Business:
1. Investment policy motion L.D., 2 H.M.
2. Rules and Regulations motion H.M., 2 L.D.
New Business:
1. Brian Spears hand out of new law regarding securities, Downstate
Police/Fire Act. 10% of funds were put in different mutual funds which are
recommended.
2. Portfolio outlook is laddered and govt. funds $2.5 million goes to 35 %
allowed. Motion L.D., 2°d H.M. to ladder $150,000 in 04, $150,000 in 05
75,000 06-09 in govt. securities or CD's covered. Caveat equal to 90% or
more.
3. Larry made comment for record regarding conversation on tx.with Brian
Spears about equities
4. Officer Groesch missing 11/95 pension monies from IMRF
Adjournment: 0927 hrs. motion H.M, 2°' T.O.
Next meeting 12/01/03 0730 hrs.
Seca- .r I : LP - ' , '