Police Pension Fund Board Minutes 2020 11-10-20 •
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
(630)553-4340
5:00PM on February 09,2021
Yorkville Police Department
804 Game Farm Rd
Minutes
Attachments:
Meeting Minutes for November 10,2020 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
Meeting Call to Order: Meeting called to order by Joe Gillespie at 5:15pm
Roll Call: Present:Joe Gillespie, Vice-President;Ray Mikolasek, Secretary;Ryan Goldsmith,Asst. Secretary;Rob
Fredrickson, Treasurer
Guests: Tom Hartwell,Attorney; Tom Dugan, Mitchell, Vaught, and Taylor
Citizen Comments:None
Previous Meeting Minutes: November 10,2020
Corrections/Approval
Motion to Approve:Ray Mikolasek, 2"d Ryan Goldsmith—Roll Call Vote:Joe Gillespie, aye;Ray Mikolasek, aye;
Ryan Goldsmith, aye
Communications:IPPAC trustee training announcement
Collins,Radja, and Hartwell notification of addition to staff
Monthly Treasurer's Report: August, September,October 2020
Motion to Approve:Ryan Goldsmith, 2"d Ray Mikolasek-Roll Call Vote:Joe Gillespie, aye;Ray Mikolasek,
aye;Ryan Goldsmith, aye
Bills for Payment:
MVT Management Fee: (Jan-Mar 2021) $ 3,960.00
From Schwab Acct: 3137-9036
Zabinski Consulting: (Nov-Dec 2020) $ 316.68
Zabinski Consulting: (1099-MISC Forms) $ 5.00
Collins,Radja, and Hartwell: Attorney $ 775.00
Total Bills for Payment: $ 5,056.68
Motion to Approve: Ray Mikolasek, 2nd Ryan Goldsmith—Roll Call Vote:Joe Gillespie, aye;Ray Mikolasek, aye;
Ryan Goldsmith, aye
Investments:
Progress Report from Mitchell,Vaught,and Taylor.
- Tim Dugan—Bond yields have bottomed out with interest rates expected to remain low until at least
2023. As a result, the Yorkville Police Pension Fund portfolio showed an investment gain of$984 in the
4'h quarter.
Old Business:
Update on Pension System Consolidation
- Tom Hartwell—not sure when the new board will start accepting money from individual pension funds
but recommended keeping 125%of projected expenditures on hand to ensure access to our funds when
needed once we do consolidate.
New Business: None
Personnel Changes and Additions:
Retirement: Andrew Jeleniewski,December 27,2020
Motion to approve pension benefit of$52,938.60 annually:Ryan Goldsmith, 2"d Ray Mikolasek—Roll
Call Vote:Joe Gillespie, aye;Ray Mikolasek, aye;Ryan Goldsmith, aye
New Hires: Anthony Nickels,January 19,2021 (Tier II)
Cali Caruso,January 19,2021 (Tier II)
Mariesa Shapiama,January 22,2021 (Tier II)
Motion to accept new hires into pension fund:Ryan Goldsmith, 2"d Ray Mikolasek—Roll
Call Vote:Joe Gillespie, aye;Ray Mikolasek, aye;Ryan Goldsmith, aye
Additional Business:None
Citizen Comments:None
Next meeting:
May 18,2021 5:00pm
Motion to Adjourn: 5:40pm by Ray Mikolasek, 2"d Ryan Goldsmith—Roll Call Vote:Joe Gillespie, aye;Ray
Mikolasek, aye;Ryan Goldsmith, aye
2021 Meeting dates: Feb 09,May 18,Aug 10,Nov 09
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Pre ' e t Secretary