Police Pension Minutes
North Aurora Police Pension
Board of Trustees
Regular Board Meeting
Minutes of the meeting – July 21, 2020
The meeting was called to order at 5:01pm, by Robyn Stecklein and was held electronically via Zoom. Roll call was conducted and members present were as follows: Robyn Stecklein, Mary Licar, Steve Van Loan and Mark Swoboda. Fifth Third representatives Patrick Swaney and Bob Thompson as well as Board Attorney Charles Atwell and Finance Director/Treasurer Bill Hannah were also present.
Audience Comments
None
Approval of Minutes
A motion was made to approve the minutes of the Regular Board Meeting dated April 21, 2020 by Steve; motion seconded by Mark. A roll call vote was taken: Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0.
Presentation and Acceptance of Treasurer’s Report and Approval of Bills Presented and Paid
Bill Hannah presented summary and detailed financial reports for the Pension Fund with all activity in the accounts through June 30, 2020 including expenses paid. Total market value of all investments held at MB Financial and Old Second is $20,248,218.89 (excluding accrued income). Bill provided comparison statements showing quarter to quarter change. The quarter ended June 30, 2020 was a 12.9% increase over the prior quarter amount of $17,942,330.88. Treasurer Hannah also reviewed bills paid during the quarter. A motion was made to approve the Treasurer’s Report by Steve; seconded by Mark. Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0.
Presentation and Acceptance of Investment Report
Representatives from Fifth Third discussed the most recent quarterly report as of June 30, 2020. The report indicated that as of June 30, 2020 the ending market value of the portfolio was $19,720,474.29 excluding accrued income of $75,683. Calendar year-to-date the fund was down 0.8%. The current portfolio was allocated at 48.49% equities, 46.10% fixed income, 2.00% real assets and 3.41% cash and equivalents.
A motion was made to approve the Investment Report by Mark; seconded by Steve. A roll call vote was taken: Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0.
New Business
Ratification of Election Results for the Retiree Position on the Police Pension Board
Election results for the retiree trustee were held. The results of the election indicated that the retiree trustee elected was Steve VanLoan.
A roll call vote was taken: Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0.
Appointment of Pension Board Officers
A motion was made by Steve and seconded by Mark for the following officer nominations:
President Robyn Stecklein
Vice-President Mark Swoboda
Secretary Greg Manko
Asst. Secretary Steve Van Loan
A roll call vote was taken: Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0. Bill will Coordinate with Robyn to have the appropriate signers updated at Old Second to add Greg Manko as Secretary and retain Robyn as President and Bill as Treasurer.
Audience Comments
None.
Other
None.
Adjourn
A motion was made to adjourn the meeting at 5:40 by Mark; seconded by Steve. A roll call vote was taken: Stecklein – yes; Licar – yes; Swoboda – yes; VanLoan – yes. Motion passes 4-0.
