Loading...
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