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