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Police Pension Minutes 2003 12-02-03Yorkville 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 12/02/03 called to order at 0803 Roll Call: Larry Debord present, Harold Martin present, Dan Pleckham present, Todd Overmyer absent. Guests: Treasurer Bill Powell, Atty. Cary Collins Previous Meeting Minutes: 1. Were read and approved. mot. L.D., 2°' H.M. Communications: 2.Tax levy rept. via internet was ok'ed. Scott Brandt would let us know regarding new numbers. Per Bill Powell, the fund was underfunded by $2,687.519 unfunded liability over 40 yr period. Tax levy for the City is $207,006.00 3. Dates for next year meetings set. )1/05, 04/05, 07/12, 10/04/04 Copies of Merrill Lynch trans. Were handed out members of board. Larry will contact regarding errors in transactions. 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 11/02/03 $5,000.46 read by Bill. 3. $95,000.00 C/D earns 2% good in March 06. 4. $74,931.83 C/D earns 2.125% good April 15,2006 5. $76,617.82 C/D Bills for payment: Bill Powell 13.5 hrs. 10/28/03-11/11/03 8 days of service $270.00 mo. L.D.,2 D.P. Unfinished Business: 1. Final check for tax assessment sent to M/L $95,025.42 received 10/31/03 183,410.85 from City New Business: 1. Cary will draft letter to start a file on every officer in pension with their birth certificate, marriage certificate and childrens information and marriage/divorce license. 2. Officer Groesch missing 11/95 pension monies from IMRF, is credible service and he does not have to pay any money to fund. Cary will draft letter to Barry. 3. Disability policy was given to H.M. 50%, taxed off duty injury, 65% non- taxed on duty injury 4. Bill gave out a poss. Budget for 2004 5. Contact Tim Sharp regarding actuarial study. The state will make actuarial statement and the City will chose between studies. Adjournment: 0954 hrs. motion L.D., 2 H.M. Next meeting 01/05/04 0730 hrs. an Ple a.•