HomeMy WebLinkAboutPolice Pension Minutes 2025 02-11-25Yorkville Police Pension Fund Board
651 Prairie Pointe Dr
Yorkville, IL 60560
(630) 553-4340
5:00PM on February 11, 2025
Yorkville City Hall
Yd Floor, West Conference Room, Rm 335
651 Prairie Pointe Dr, Yorkville, IL
Minutes
Attachments:
Meeting Minutes for November 12, 2024 President/Secretary to sign
Bills for Payment
1POPIF Statement
IPOPIF Actuarial Valuation
Meeting Call to Order: Meeting called to order by Greg Sibenaller at 5: 02pm
Roll Call: Present: Greg Sibenaller, Jeff Burgner, John Hunter, Rob Fredrickson
Guests: Tom Radja, Attorney (by telephone)
Citizen Comments: None
Previous Meeting Minutes: November 12, 2024
Corrections/Approval
Motion to Approve: Jeff Burgner, 2"d John Hunter — 3 Ayes, 0 Nays
Communications: IPOPIF Letter
Monthly Treasurer's Report: None
Bills for Payment
Zabinski Consulting (Oct -Nov)
$
1,300.00
UCOY Postage Reimbursement
$
12.35
Radja Collins Law: Attorney
$
950.00
Total Bills for Payment:
$
2,262.35
Motion to Approve: Greg Sibenaller, 2"d Jeff Burgner - Roll Call vote: Greg Sibenaller, aye; John Hunter, aye; Jeff
Burgner, aye.
- Investments: 1POP1F Statement
- Rob Fredrickson — IPOPIF report through the end of January 2025. The month to date, quarter to
date, and year to date are all the same at 2.25%. The one year investment return of 12.5% exceeded
the actuarial benchmark of 7%.
Old Business:
- Updated Rules and Regulations
o Motion to Approve update Rules and Regulations: John Hunter, 2"d Jeff Burgner — 3 Ayes, 0 Nays
- Join IPPFA? Other Organization?
o Discussion regarding joining organization. No decision made.
New Business:
- Police Pension Check Remittance Process
o Rob Fredrickson changing the process —no vote
IPOPIF Actuarial Valuation (Foster & Foster)
- Rob Fredrickson —This is the actuarial valuation the State oflllinois prepares. This is the report the
city uses for the tax levy. The city's contribution this year is over $1.4 million. The report requires a
statutory contribution of SI,051,00.00. The city's contribution is higher than required.
Personnel Changes and Additions:
- Resignation: Cali Caruso- Jan 5, 2025
New Hire: Samuel Tickel — December 31, 2024
o Motion to accept Samuel Tickel into the Yorkville Police Pension Fund Jeff Burgner, 2"d John
Hunter, 3 Ayes, 0 Nays.
Additional Business:
- Peter Pappas payout of funds to retirement account and former spouse per QUILDRO
c Motion to payout per the request: Jeff Burgner, 2"d John Hunter, Roll Call vote: Greg Sibenaller,
aye; John Hunter, aye; Jeff Burgner, aye.
Change 2025 Meeting Dates
0 2025 meeting dates: Feb 11, May 20, Aug 12, Nov 18
o Nov 11 was previously accepted but falls on city holiday
■ Noted. No vote needed.
Citizen Comments: None
Next meeting:
May 20, 2025 5:00pm
Motion to Adjourn: Jeff Burgner, 2"d John Hunter — 3 ayes 0 nays @ 5:32pm
2025 meeting dates: Feb 11, May 20, Aug 12, Nov 18
Preside t
Secretary