Police Pension Fund Board Minutes 2021 08-10-21 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
(630)553-4340
5:00PM on November 09,2021
Yorkville Police Department
804 Game Farm Rd
Meeting Minutes
Attachments:
Meeting Minutes for August 10,2021 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
2020 Actuarial Valuation Report
Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5:08pm
Roll Call: Present:Ray Mikolasek, Greg Sibenaller, Joe Gillespie,Jeff Burgner, Rob Fredrickson
Guests: Tom Hartwell,Attorney;Bruce Ebel, Great Lakes Advisors(by phone)
Citizen Comments: None
Previous Meeting Minutes: August 10,2021
Corrections/Approval
Motion to Approve:Joe Gillespie, 2nd Greg Sibenaller-4ayes, 0 nays
Communications: None
Monthly Treasurer's Report: May,June,July,and August 2021
Motion to approve:Joe Gillespie, 2"d Jeff Burgner-4ayes, 0 nays
Bills for Payment:
MVT Management Fee:(Oct-Dec 2021) $ 4,730.00
From Schwab Acct: 3137-9036
Great Lakes Advisors Fee:(Apr-Jun 2021) $ 3,201.24
Acct:90733303
Great Lakes Advisors Fee:(Apr-Jun 2021) $ 4,651.43
Acct: 56737766
UCOY Postage Reimbursement(May—Jul) $ 23.46
Zabinski Consulting(Jun—Oct 2021) $ 791.70
Collins and Radja:Attorney $ 800.00
Total Bills for Payment: $ 14,197.83
Motion to Approve: Greg Sibenaller, 2"d Joe Gillespie—Roll Call Vote:Ray Mikolasek, aye;Joe Gillespie, aye;Jeff
Burgner, aye; Greg Sibenaller, aye.
Investments:
Progress Report from Great Lakes Advisors.
Bruce Ebel(by telephone)—Bruce updated the board on the Pension Fund Portfolio. The fund experienced a
-1.17%loss(net offees) in the previous quarter.
Old Business:
- Update on Pension Fund Consolidation
o Tom Hartwell—Hearing in lawsuit against Gov Pritzker regarding pension fund consolidation to be
heard Wednesday, November 10 at 10:00am. Speculation judge may rule in favor of pension funds.
$
- Updated Yorkville Police Pension Fund Rules and Regulations
o Board would like to see document with tracked changes—push to Feb meeting
- IPOPIF request for resolution to appoint authorized representatives
o Board to wait to hear result of lawsuit hearings. Motion to move agenda item to next meeting:Joe
Gillespie, 2nd Jeff Burgner-4ayes, 0 nays
New Business: None
Personnel Changes and Additions:
Resignations: Anthony Nickels,August 29,2021
Brendan Heye, September 14,2021
New Hires: Kevin Warren, September 6,2021 (Tier II)
Motion to accept Warren into Pension Fund-Joe Gillespie, 2"d Jeff Burgner-4ayes, 0 nays
Additional Business:
2021 Yorkville Police Pension Fund Actuarial Valuation Report
Rob Fredrickson—updated board on actuarial valuation. Tax levy to remain the same. Fund went
from 46%funded to 58% in one year.
2021 MWM Actuarial Valuation
Set 2022 Meeting dates:Feb 08,May 17,Aug 09,Nov 08
Motion to accept 2022 meeting dates:Ray Mikolasek, 2nd Jeff Burgner-4ayes, 0 nays
Citizen Comments: None
Next meeting:
February 08,2022 5:00pm
Motion to Adjourn: 5:56pm by Jeff Burgner, 2"d Joe Gillespie—4 ayes, 0 nays
2022 Meeting dates: Feb 08,May 17,Aug 09,Nov 08
Pre dent Secreta