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.•