Police Pension Board

DeKalb Police Pension Fund Meeting Minutes July 24, 2015 The meeting was called to order by President Kayes at 10:00 am. Members present were Jim Kayes, Tracy Smith, Cathy Haley, and Mark Leach. Paul Mott was absent. Also present was Dave Wall from Wall and Associates. Copies of the minutes from April 17, 2015 were distributed and there being no corrections or additions President Kayes declared them accepted as presented. Treasures Report Haley gave report and there was discussion on levy. Two handouts were presented by Haley showing history of levy. Discussion by board on the levy and funding including alternate funding means for the pension levy. Additional discussion on the Supreme Court ruling on COLA’s and benefits. Also discussed was possible new levy consultant Foster and Foster. Advisor Report Wall presented quarterly investment report. Discussion of the AMG fund and the amount of cash that they are holding as well as their performance. DeKalb Pension fund currently holding 6.6 million of AMG. Motion made by Leach to sell 33% of AMG and use funds from sale and invest 2/3 into Schwab Total Market Domestic Fund and 1/3 in Schwab International Index Fund. Second of motion by Haley. Roll call vote Leach, Haley, Smith all voted yes. Mott absent. Kayes declared motion passed. Wall advised that there was false information circulating concerning the sale of his company. Bills for Payments Motion by Smith to pay all bills listed on agenda for July 24, 2015 meeting. Second by Leach. Roll call vote---Smith, Leach, Haley all voted yes. Mott absent. Kayes declared motion passed. Applications for Membership Two applications for pension membership (Hernandez and Parsons) brought to the board. Motion by Leach and second by Smith to accept Hernandez and Parsons as new members. Voice vote on motion. 3 ayes. Mott absent. Kayes declared motion passed. New Business Motion by Haley to approve Lauterbach and Amen new fee schedule until June 30, 2018. Second by Leach. Voice vote on motion. 3 ayes. Mott absent. Kayes declared motion passed. Cathy Haley appointed to DeKalb Pension board by Mayor John Rey. Slate of board officers presented to board as follows: Kayes----President, Mott----Vice President, Smith-----Secretary and Haley----Assistant Secretary. Voice vote on motion. 3 ayes. Mott absent. Kayes declared motion passed. Next DeKalb Pension Board meeting will be October 16, 2015 at 10:00. Motion by Smith to adjourn. Second by Haley. Voice vote on motion. 3 ayes. Mott absent. Kayes declared motion passed. Meeting adjourned at 10:50 am. Respectfully submitted; ___________________________________ Tracy D. Smith, Secretary ___________________________________ James Kayes, President