HomeMy WebLinkAboutPolice Pension Minutes 2024 11-12-24 Yorkville Police Pension Fund Board
651 Prairie Pointe Dr
Yorkville, IL 60560
(630) 553-4340
5:00PM on November 12,2024
Yorkville City Hall
3`d Floor,West Conference Room, Rm 335
651 Prairie Pointe Dr,Yorkville, IL
Minutes
Attachments:
Meeting Minutes for August 13, 2024 President/Secretary to sign
Monthly Treasurer's Reports
Bills for Payment
IPOPIF Statement
FYE 2024 Actuarial Valuation Report
Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5:00pm
Roll Call: Present: Greg Sibenaller,Jeff Burgner, Ray Mikolasek, John Hunter, Rob Fredrickson
Guests: Tom Radja, Attorney
Citizen Comments: None
Previous Meeting Minutes: August 13, 2024
Corrections/Approval
Motion to Approve:Jeff Burgner, 2"d Ray Mikolasek—4 Ayes, 0 Nays
Communications:
Monthly Treasurer's Report: March—September 2024
Motion to Approve: Ray Mikolasek, 2"d John Hunter—4 Ayes, 0 Nays
Bills for Payment:
Zabinski Consulting(Aug-Sep) $ 1,300.00
Radja Collins Law: Attorney $ 825.00
Total Bills for Payment: $ 2,125.00
Motion to Approve:Jeff Burgner, 2"d Ray Mikolasek-Roll Call vote: Greg Sibenaller, aye;Ray Mikolasek, aye;
John Hunter, aye;Jeff Burgner, aye.
- Investments: IPOPIF Statement
Rob Fredrickson—IPOPIF report through the end of September. Assets over$18.55 million. Fiscal year
2024 investment return of 9.69%which exceeded the actuarial benchmark. From September to September
the investment return was 21.45%.
Old Business:
- Updated Rules and Regulations
o Tabled until February meeting
- Trustee Training Options
o Trustees to complete free online training
New Business:
- MWM Actuarial Valuation Report
o Rob Fredrickson— Collected$1.63 million dollars to meet 100%funding level in 2023. The 2024
levy amount will be$1.465 million dollars. Funding level at end of FY23 was 54%and this year is
just under 58%
Personnel Changes and Additions:
Resignation: Tyler Lobdell —September 15, 2024
New Hires: Andrew Camis— September 1, 2024
Jack Wade—November 04,2024
Motion to accept Andrew Camis and Jack Wade into the Yorkville Police Pension Fund-Ray Mikolasek, 2"d
Jeff Burgner —4 Ayes, 0 Nays
- Received QILDRO for former employee Peter Pappas from the Law Offices of Anne Schmidt
o Received and filed
Additional Business:
- Set 2025 Meeting Dates
o 2025 meeting dates: Feb 11, May 20, Aug 12,Nov 11
- Motion to approve: Ray Mikolasek, 2"d John Hunter—4 Ayes, 0 Nays
Citizen Comments:None
Next meeting:
February 11, 2025 5:00pm
Motion to Adjourn:Jeff Burgner, 2"d John Hunter—4 ayes 0 nays @ 5:27pm
2025 meeting dates: Feb 11, May 20, Aug 12, Nov 11
Pr ide Secretary