Loading...
12-09-2013 Fire Pension Meeting City of Clermont MINUTES FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING December 9,2013 The Firefighters Retirement Plan Board of Trustees met in a regular meeting on Monday, December 9, 2013 in the Council Chambers at City Hall. Firefighters' trustees present: Judd Lent, Joe Sylvestris and Sy Holzman. In addition. Finance Director Van Zile and City Clerk Ackroyd. Alison Beeler, Cypen and Cypen; and Paul Shamoun,Florida League of Cities was present via conference call. Chairman Lent called the meeting to order at 9:00am. PUBLIC COMMENTS Chairman Judd Lent opened the meeting for public comments. Carle Bishop,Fire Chief, expressed concern with benefit changes to the Firefighters pension plan. Counsel Bieler explained all Firefighters by law are in the pension plan. When the union negotiates benefit changes to the plan,everyone in the Fire Department regardless of rank and responsibilities, every provision applies to all firefighters unless a decision is made to not participate in the plan. MINUTES Approval of minutes of Regular Meeting from September 9, 2013 Counsel Bieler suggested amending the minutes to note when a motion passes unanimously. Board Member Sv Holzman moved to approve the minutes as amended to add the term unanimously to the motions; seconded by Board Member Joe Sylvestns. The motion passed unanimously. UNFINISHED BUSINESS Board Members discussed the Rules and Procedures. Counsel Bieler recommended discussing but not voting on since it was not on the agenda. Chairman Lent suggested reviewing the policies and place on the next agenda for a vote. NEW BUSINESS Selection of Chair Judd Lent nominated himself as the Chair. Board Member Holzman moved to nominate Judd Lent as the Chair; seconded by Board Member Sylvestris; The motion passed unanimously. Selection of Board Secretary Chairman Judd Lent reviewed the responsibilities of the position. Board Member Sy Holzman nominated Board Member Joe Sylvestns as the Board Secretary; seconded by Chairman Judd Lent.The motionpassed unanimously. 1 Ciry of Clermont MINUTES FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING December 9, 2013 City Clerk Ackroyd swore m the Board Members. Selection of Fifth Board Member Chairman Judd Lent recommended Adam Watkins to serve as the 5th member. He is a shift firefighter. Board Member Sy Holzman nominated Adam Watkins as the 5th member to the Board; seconded by Board Member Joe Sylvestns.The motion passed unanimously. Adam Watkins will need to be appointed by the City Council and placed on the January 14, 2014 Meeting Agenda and sworn in prior to the next meeting by the City Clerk. Chairman Judd Lent recommended changing the terms of office to have staggered terms on the board Counsel Beeler explained the terms cannot be modified. It would require an amendment to the plan by the City Council. The term begins when a board member is sworn in. PLAN ADMINISTRATOR REPORT Discussion of Investment Performance Report for Quarter Ending September 30, 2013 Paul Shamoun,Flonda League of Cities reviewed the report for the end of Fiscal Year.The end balance is $8 million and end of quarter had almost $4 million in cash. The overall return for the quarter was 4.2%. For the Fiscal Year it was 11.9 %. The return was 31% and the target index was at 30%. The value portfolio bond fund was down 1.5%. ATTORNEY REPORT Counsel Bieler reported there is a Trustees school to be held February 2-5,2014 in Jacksonville. BILLS AND EXPENSES FOR APPROVAL Approval of Expenses for Period September 7, 2013-December 5, 2013 Finance Director Joe Van Zile reviewed the bills and expenses of$7,417.97. Board Member Sy Holzman moved to approve the expense report: seconded by Board Member Joe Svlvestris.The motion passed unammously. Finance Director Van Zile noted there may be pension changes and the next step is to amend the adoption agreement then submit to the Council for approval of the plan documents. Counsel Bieler clarified the adoption agreement requires Council approval by Ordinance. ADJOURN: With no further comments,this meeting was adjourned at 9:55am APPROVED: Chairman ATTEST: ,‘131:1_41 - Tracy Ackroyd,City Cl k yc 1 2 �b �l f ■ a�e