North Aurora Police Pension
Board of Trustees
Regular Board Meeting Minutes
Minutes of the meeting-January 17th, 2017
The meeting was called to order at 5:00pm, Robyn Stecklein. Roll call was conducted and members present were as follows: Robyn Stecklein, Steve Van Loan, Paul Dilley and Mary Licar. Greg Manko was absent. In attendance were MB Financial representatives Bob Thompson and Ted Kirpach. Board Attorney Charles Atwell and Board Treasurer Bill Hannah were also in attendance.
Audience Comments
None
Approval of Minutes
A motion was made to approve the minutes of the Regular Board Meeting dated October 18th, 2016 by Steve Van Loan motion seconded by Paul Dilley. A roll call vote was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed.
Presentation and Acceptance of Treasurers Report and Approval of Bills presented Paid.
Each board member was presented a copy of the Treasurer’s report. Bill Hannah gave a synopsis of the report for the pension fund with all activity in the accounts through December 31st, 2016 including expenses paid. Total market value of all investments held at MB Financial and Old Second Bank 15,076,017.77. Treasurer Hannah also pointed out to the board that the Village had increased its contribution to the fund from $800,000 to $925,000 for the fiscal year as the Village decided to allocate a portion of some one-time funds as an additional employer contribution to the pension fund. This increase was reflected in the report. A motion was made to accept/approve the treasurer’s report by Steve VanLoan; seconded by Mary Licar. A roll call was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed.
Presentation and Acceptance of Investment Report.
MB financial provided Board members with a copy of the performance report as of 12/31/2016. A synopsis of the report was presented by Bob Thompson and Ted Kirpach from MB Financial. The report indicated that as of 12/31/16 the ending market value of the portfolio with accrued income was 15,091,461. Motion was made by Robyn Stecklein and seconded by Steve VanLoan to accept/approve the Investment report. A roll call was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed.
Old Business
None
New Business
1. Approval of pension application by New North Aurora Police officer Michael Robinson. Motion by Mary Licar, seconded by Robyn Stecklein. A roll call was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed.
2. Approval of pension increases for January 2017. A report was presented by Treasurer Hannah indicating the required statutory pension increases for 2017. Motion was made by Robyn Stecklein, seconded by Steve VanLoan. A roll call was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed.
Audience Comments
None
Other
Attorney Atwell was asked if there was any new information or legislation that the board needed to be aware of. Nothing at this time.
Adjourn
At 5:45pm a motion by Robyn Stecklein and seconded by Steve VanLoan was made to adjourn the meeting. A roll call was taken: VanLoan –yes, Dilley –yes, Stecklein-yes, Licar-yes. Motion passed. Meeting adjourned.
Robyn Stecklein – President
Greg Manko – Secretary
