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Police Pension Minutes 2022 11-08-22Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, IL 60560 (630)553-4340 5:OOPM on November 08, 2022 Yorkville Police Department 804 Game Farm Rd Meetinp_ Minutes Attachments: Meeting Minutes for August 09, 2022 President/Secretary to sign Monthly Treasurer's Reports Bills for Payment Actuarial a ua ion eport Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5: 03 pm. Roll Call: Present: Ryan Goldsmith, Ray Mikolasek, Greg Sibenaller Guests: Tom Hartwell; Attorney Citizen Comments: None Previous Meeting Minutes: August 09, 2022 Corrections/Approval Motion to Approve: Ray Mikolasek, 2"d Ryan Goldsmith — 3 ayes, 0 nays Communications: None Monthly Treasurer's Report: March through September 2022 Motion to approve: Greg Sibenaller, 2"d Ryan Goldsmith - 3 ayes, 0 nays Bills for Payment: MVT Management Fee: (Oct - Dec 2022) $ 4,654.00 From Schwab Acct: 3137-9036 Great Lakes Advisors Fee: (Jul - Sep) $ 1,463.13 Acct: 90733303 Great Lakes Advisors Fee: (Jul - Sep) $ 5,490.96 Acct: 56737766 Zabinski Consulting (Aug - Oct) $ 1,800.00 Collins and Radia: Attorney $ 800.00 Total Bills for Payment: $ 14,208.09 - MVT returned $2.881. 05 of the 4" quarter management fee of $4, 654, 00 to our account due to non -cash asset transfer during the quarter. MVT 4'h quarter management fee adjusted to $], 772.95. Motion to Approve: Ray Mikolasek, 2"d Ryan Goldsmith. Roll call vote: Ray Mikolasek, aye; Ryan Goldsmith, aye; Greg Sibenaller, aye. Investments: - Progress Report from Great Lakes Advisors — Not present. - MVT (via email from Judy Macnab) — Non -cash assets transferred to IPOPIF on 11-3-22. Schwab account has $1, 333, 305.45 in cash and cash -equivalents, including $406, 002 in a Schwab money market fund. Old Business: - Update on Pension Fund Consolidation — all assets required to be transferred to IPOPIFfrom MVT and GLA accounts have been transferred. Remaining cash in MVT account is sufficient to pay pension fund bills for several months. Expect a resolution to adopt the IPOPIF Cash Access Form at February meeting which will allow Treasurer Rob Fredrickson to transfer money from IPOPIF account to cash account to pay Fund bills. New Business: None Personnel Changes and Additions: Additional Business: 2022 Yorkville Police Pension Fund Actuarial Valuation Report 2022 MWM Actuarial Valuation - The actuarial valuation requires the United City of Yorkville to contribute to the Police Pension Fund at the statutory minimum amount (90%) of $1,149, 676. The United City of Yorkville has once again decided to contribute to the Police Pension Fund at 100% in the amount of $1,378,837. Citizen Comments: None Next meeting: February 14, 2023 5:OOpm Motion to Adjourn: 5:26 pm by Ray Mikolasek, 2"d Ryan Goldsmith — 3 ayes, 0 nays. 2023 Meeting dates: Feb 14, May 16, Aug 08, Nov 14 President' ' Secretary