Police Pension Minutes 2024 05-21-24Yorkville Police Pension Fund Board
651 Prairie Pointe Dr
Yorkville, IL 60560
(630)553-4340
5:OOPM on May 21, 2024
Yorkville City Hall
3`d Floor, West Conference Room, Rm 335
651 Prairie Pointe Dr, Yorkville, IL
Minutes
Attnehmentc-
Meeting Minutes for February 13, 2024 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
FY 2025 Police Pension Budget
2023 MWM Actuarial Valuation Report - Exhibit A
2023 IDOI Actuarial Valuation Report - Exhibit B
Illinois Funds Statement
Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5: 00pm
Roll Call. Present: Jeff Burgner, Greg Sibenaller, Ray Mikolasek, John Hunter, Rob Fredrickson
Guests: Tom Radjo, Attorney
Citizen Comments: None
Previous Meeting Minutes: February 13, 2024
Corrections/Approval
Motion to Approve: Jeff Burgner, 2"d Ray Mikolasek — 4 Ayes, 0 Nays
Communications: IPPFA Letter
Monthly Treasurer's Report: January and February 2024 — Rob Fredrickson Total revenues of $3.2 million and total
expenses of $1.5 million, leading to a $2.8 million dollar surplus, for a total of $17, 089,265 in cash and investments
at the end of February.
Motion to approve: Jeff Burgner, 2" `r Ray Mikolasek — 4 Ayes, 0 Nays
Bills for Payment:
Zabinski Consulting (Jan -Mar, May) $ 2,500.00
Radia Collins Law: Attorney $ 825.00
Total Bills for Payment: $ 3,325.00
Motion to Approve: Ray Mikolasek, 2"`r Jeff Burgner - Roll Call vote: Greg Sibenaller, aye; Ray Mikolasek, aye;
John Hunter, aye; Jeff Burgner; aye.
- Investments: IPOPIF Statement
Rob Fredrickson- April statement. Quarter to date is a -2.5% investment return. One year investment return
is 9.45% which puts us above our actuarial benchmark of 7%. Funding level of fund has increased and will
share number when announced.
Old Business: None
New Business:
- Active Member Pension Trustee Election Results
Election winners were Ray Mikolasek with 20 votes and John Hunter with 17 votes. Motion to certify election
results.- Jeff Burgner, 2"" John Hunter - 4 Ayes, 0 Nays
- Review/Discuss updated Rules and Regulations — tabled to August meeting
- Trustee training options after dissolution of IPPAC board will weigh options and discuss at August meeting
Personnel Changes and Additions:
New Hires: Cameron Bonner — April 30, 2024 (Tier 11)
Motion to accept Cameron Bonner's application to Yorkville Police Pension Fund: Ray Mikolasek, 2'rd John
Hunter — 4 ayes 0 nays
Resignations: Behr Pfiizenmaier May 2, 2024
Additional Business:
- Appointment of Board Officers
Motion to appoint Greg Sibenaller to President, Jeff Burgner to Vice President, Ray Mikolasek to Secretary,
and John f1unter to Assistant Secretary: Greg Sibenaller, 2"d Ray Mikolasek — 4 ayes 0 nays.
- Retiree election upcoming —John Hunter to conduct prior to August meeting.
- Approval of Fiscal Year 2025 Police Pension Budget
Motion to approve: Jeff Burgner, 2"d Ray Mikolasek — 4 Ayes, 0 Nays
- Required Reporting to the Municipality by the Pension Board
0 2023 MWM Actuarial Valuation Report — Exhibit A
o 2023 IDOI Actuarial Valuation Report Exhibit B
Rob Fredrickson reported that the City will fund the Pension Fund via tax levy in the recommended amount of
$1,386,265. Motion to approve the $1,386,265 tax levy contribution to theftind: Ray Mikolasek, 2"d Jeff
Burgner — 4 ayes 0 nays.
Citizen Comments: None
Next meeting:
August 13, 2024 5:00pm
Motion to Adjourn: Ray Mikolasek, 2"d Jeff Burgner — 4 ayes 0 nays @7a 5: 27pm.
2024 meeting dates: Feb 13, May 21, Aug 13, Nov 12
Secretary