Police Pension Minutes 2024 02-13-24 Yorkville Police Pension Fund Board
651 Prairie Pointe Dr
Yorkville, IL 60560
(630) 553-4340
5:00PM on February 13, 2024
Yorkville City Hall
3`d Floor,West Conference Room, Rm 335
651 Prairie Pointe Dr, Yorkville, IL
Minutes
Attachments:
Meeting Minutes for November 14, 2023 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
Meeting Call to Order: Meeting called to order by Ray Mikolasek at 5:00pm.
Roll Call: Present: Ryan Goldsmith, Jeff Burgner, Ray Mikolasek, Rob Fredrickson
Guests: Tom Radja, Attorney
Citizen Comments: None
Previous Meeting Minutes: November 14, 2023
Corrections/Approval -None
Motion to Approve:Jeff Burgner, 2"d Ryan Goldsmith—3 Ayes, 0 Nays
Communications: None
Monthly Treasurer's Report: October, November, December 2023
December total revenue approximately 2.9 million. Total expenses just over$100,000. Surplus of 1.97 million through
December 31, 2023. Bulk of investments with IPOPIF at 16.6 million in cash and investments.
Motion to Approve:Jeff Burgner, 2"d Ryan Goldsmith- 3 Ayes, 0 Nays
Bills for Payment:
Zabinski Consulting(Oct-Dec) $ 1,875.00
Audit(Lauterbach& Amen) $ 2,900.00
Radja Collins Law: Attorney $ 825.00
Total Bills for Payment: $ 5,600.00
Motion to Approve:Jeff Burgner, 2"d Ryan Goldsmith-Roll Call vote:Jeff Burgner, aye, Ryan Goldsmith, aye, Ray
Mikolasek, aye.
- Investments: IPOPIF Statement
Rob Fredrickson-December 2023-End of year 16.6 million in assets. Year to date return 13.66 at that time.
Old Business:
- Update on opening of Illinois Funds account
Rob Fredrickson-drawing down on Schwab account over past few months kicking up to IPOPIF and using
Schwab to fund pension payroll from Old Second account. Illinois Funds account has been established in
January holding approximately$150,000 in cash in that fund. Schwab accounts as of January 3P`, all money
has been transferred out. All Schwab accounts have zero balance and will be closed.
- Update on closing of Schwab accounts
Rob Fredrickson-Schwab accounts have zero balance and will be closed. Money that is held locally will be
held with Illinois Funds Account or Old Second Bank account.
New Business:
Personnel Changes and Additions:
New Hires: Leonardo Reyes —November 27,2023 (Tier II)
Alex Wrobel—December 4, 2023 (Tier II)
Motion to approve: Jeff Burgner, 2nd Ryan Goldsmith- 3 ayes,0 nays
Additional Business:
- Approval of Jon Helland retirement benefits—retired July 8, 2019/50`h Birthday December 17, 2023
Pension benefits based on final salary of$87,422.11 being half(50%) equaling the initial annual benefit of
$43,711.06
Roll call vote: Ryan Goldsmith, 2"d Jeff Burgner. Jeff Burgner, aye, Ryan Goldsmith, aye, Ray Mikolasek, aye
- Alexander Jordon—transfer of creditable service to Ottawa Police Department
Transfer made of contributions and interest to Ottawa Police Pension fund in the amount of$60,034.86
Motion to approve: Ryan Goldsmith, 2"d Ray Mikolasek-Ryan Goldsmith, aye, Ray Mikolasek, aye,Jeff
Burgner, aye
- Dennis Meyer—transfer of creditable service to Plainfield Police Department
Transfer made of contributions and interest to Plainfield Police Pension fund in the amount of$136,808.52
Motion to approve:Jeff Burgner, 2"d Ryan Goldsmith-Ryan Goldsmith, aye, Ray Mikolasek, aye, Jeff
Burgner, aye
Citizen Comments: None
Tom Radja, Attorney spoke on updates regarding supreme court consolidations. Will send out newsletter with any
updates with rules and regulations. Spoke on disability procedures update.
Next meeting:
May 21, 2024 5:00pm
Motion to Adjourn:Jeff Burgner, 2"d Ryan Goldsmith- 3 ayes @ 5:17pm
2024 meeting dates: Feb 13, May 21,Aug 13,Nov 12
6/44"President j Secretary