HomeMy WebLinkAboutMinutes - 04/22/2021 - Police Pension Board
Police Pension Board of Trustees
Special Meeting Minutes
April 22, 2021
Call to Order
A special meeting of the City of McHenry Police Pension Board of Trustees was called to order at 10:00
a.m. The meeting was held remotely via Zoom due to the COVID-19 pandemic.
Roll call:
Members present: President Jeffery Foerster, Marc Fisher, Sergeant Nick Clesen, Cheryl Kranz. Members
absent: Ann Buss. Others present: Monte Johnson, Carolyn Lynch, Gary Karshna, James Schmidt.
Public Input:
No members of the public were present to offer comments.
Authorize LPL Financial Equities to take actions necessary to get equity investment assets below the
65% threshold of the market value of the Pension Fund’s net present asset valuation
Treasurer Lynch explained that our assets currently sit at 63.4% in equities. In case the market goes up
in the next week, it was decided that up to $1 million could be sold out of equities if needed. A motion
was made by Officer Fisher and seconded by Sergeant Clesen to authorize LPL Financial Equities to sell
up to $1 million in equities if needed to get equity investment assets below the 65% threshold of the
market value of the Pension Fund’s net present asset valuation. Roll Call Vote: 4-ayes: Sergeant Clesen,
Officer Fisher, Cheryl Kranz, Jeff Foerster. 1-absent: Ann Buss. Motion carried.
Authorize LPL Financial Equities to reinvest funds on or after May 3, 2021
A motion was made by Cheryl Kranz and seconded by Officer Fisher to authorize LPL Financial Equities to
reinvest any funds that may need to be sold to get equity investments below the 65% threshold. Roll
Call Vote: 4-ayes: Sergeant Clesen, Officer Fisher, Cheryl Kranz, Jeff Foerster. 1-absent: Ann Buss.
Motion carried.
Motion to Adjourn
A motion was made by Officer Fisher and seconded by Sergeant Clesen to adjourn the meeting at 10:11
a.m. Roll Call Vote: 4-ayes: Sergeant Clesen, Officer Fisher, Cheryl Kranz, Jeff Foerster. 1-absent: Ann
Buss. Motion carried.
______________________________
Monte Johnson, Recording Secretary