Police Pension Minutes 2023 11-14-23 Yorkville Police Pension Fund Board
651 Prairie Pointe Dr
Yorkville, IL 60560
(630) 553-4340
5:00PM on November 14, 2023
Yorkville City Hall
3rd Floor,West Conference Room, Rm 335
651 Prairie Pointe Dr,Yorkville, IL
Minutes
Attachments:
Meeting Minutes for August 23, 2023 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
MWM Actuarial Valuation Report
2023 IDOI Report
Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5:03pm
Roll Call: Present: Greg Sibenaller, Ryan Goldsmith, Ray Mikolasek, Jeff Burgner, Rob Fredrickson
Guests: Tom Radja, Attorney.
Citizen Comments: None
Previous Meeting Minutes: August 23, 2023
Corrections/Approval -None
Motion to Approve:Jeff Burgner, 2"d Ryan Goldsmith —4 ayes, 0 nays
Communications: None
Monthly Treasurer's Report: June,July, August, and September-Rob Fredrickson—As of September 30,fund is at
$15,926,688 in Cash and Investments
Motion to Approve: Ray Mikolasek, 2"d Jeff Burgner —4 ayes, 0 nays
Bills for Payment:
Zabinski Consulting(Aug-Sep) $ 1,250.00
UCOY Postage Reimbursement $ 33.99
Radja Collins Law: Attorney $ 825.00
Total Bills for Payment: $ 2,108.99
Motion to Approve:Ray Mikolasek, 2"d Jeff Burgner-Roll call vote:Ryan Goldsmith, aye; Greg Sibenaller, aye;Ray
Mikolasek, aye;Jeff Burgner, aye.
- Investments: IPOPIF Statement -Rob Fredrickson -Statements from IPOPIF provided to board members.
Total assets at IPOPIF as of October 31 $14.89 million. Investment return inception to date is 4.40%;year
to date is 1.91%; last month and a quarter is-2.49%.
Old Business: None
New Business:
- Opening of an Illinois Funds Account—Rob Fredrickson requested to open an Illinois Funds account to
manage cash holdings easier. The cash would earn interest in the Funds account. Would also like to close
the Schwab accounts that are currently used. The United City of Yorkville has used an Illinois Funds account
for years.
- Motion to approve the opening of an Illinois Funds account and close both Schwab accounts -Ray Mikolasek,
2"d Jeff Burgner-Roll call vote: Ryan Goldsmith, aye; Greg Sibenaller, aye; Ray Mikolasek, aye;Jeff
Burgner, aye.
- MWM Actuarial Valuation Report—Rob Fredrickson stated the city will fund the police pension fund at the
recommended amount of$1,386,265 to remain in line with the goal of 100%funding of the police pension
fund by 2040.
Motion to approve tax levy—Ray Mikolasek, 2"d Ryan Goldsmith —4 ayes, 0 nays
- 2023 IDOI Report—Zabinksi Consulting completed the report and it was submitted to IDOL.
Personnel Changes and Additions:
Resignation: Alexander Jordon —October 13, 2023
o No action taken. Waiting on Jordon to respond regarding his contributions.
Additional Business:
- Set 2024 Meeting Dates
o 2024 meeting dates: Feb 13, May 21, Aug 13, Nov 12
o Motion to Approve: Jeff Burgner, 2"d Ray Mikolasek —4 ayes, 0 nays
Citizen Comments: None
Next meeting:
February 13, 2024 5:00pm
Motion to Adjourn: 5:21pm by Jeff Burgner, 2"d Ryan Goldsmith —4 ayes, 0 nays
2024 meeting dates: Feb 14, May 16, Aug 08,Nov 14
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Presiden Secretary