Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
12-18-2014 Police Pension Minutes City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 18, 2014
The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Thursday, December
18, 2014 in the Council Chambers at City Hall Board Members present: Michael Scheller, Scott Tufts
Jason Sayre, John Baker, and James Wynns. Staff members present: Finance Director Van Zile and
Deputy City Clerk Noak. Also present were Scott Christiansen, Counsel to the Board, and Matt Dickey
from the Flonda League of Cities
Chairman Scheller called the meeting to order at 4 05pm
PUBLIC COMMENTS
Chairman Scheller opened the meeting for public comments. There were no public comments.
MINUTES
Approval of the minutes of Regular Meeting from September 18, 2014
Board Member Baker moved to approve; seconded by Board Member Sayre. The motion
passed unanimously.
UNFINISHED BUSINESS
No unfinished business.
NEW BUSINESS
No new business.
PLAN ADMINISTRATOR REPORT
Discussion of Investment Performance Report for Quarter Ending September 30, 2014
Matt Dickey reviewed the beginning balance, contributions, earnings, distributions, and ending balance
for quarter ending September 30,2014.
The quarterly performance ended with a loss of 0.70% with the International portfolio showing a loss of
2 21 percent The new Fixed Income portfolio; CorePlus,had a loss of 0.46% for the quarter
ATTORNEY REPORT
Attorney Christiansen reported the Florida League of Cities will prepare a report to present to City
Council listing all of the assets in the plan by asset class.
Senate Bill 172; passed by the Senate last year, has been pre-filed for the upcoming Flonda Legislative
session. The bill changes some of the provisions in Chapter 175 and 185.
The City Council approved the ad hoc cost-of-living adjustment for those receiving retirement benefits.
1
City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 18, 2014
Attorney Christiansen commented an on-the-job disability application has been filed by James Rooney
and the Board. The claim is required to be processed by May 1, 2015 Once all of the documents have
been gathered and an independent assessment completed, the Pension Board will meet and make a
decision.
BILLS AND EXPENSES FOR APPROVAL
Approval of Plan Expenses
Finance Director VanZile presented the expenses for September 16, 2014 through December 12, 2014.
The expenses covered the cost of the impact letter for Ordinance 2014-16, the impact study of increasing
retiree benefits, quarterly fees, Board Attorney fees, and annual administration fees
Attorney Christiansen inquired if the fund managers received quarterly payments and how the payments
were received Finance Director VanZile stated the payments are drawn from their earnings.
Board Member Purvis moved to approve: seconded by Board Member Wynns. The
motion passed unanimously.
Approval of Member Distributions
Finance Director VanZile presented the Request for Return of Contnbutions from Christina Fowler
Board Member Baker moved to approve, seconded by Board Member Sayre The motion
passed unanimously.
ADJOURN
With no further comments,this meeting was adjourned at 4:38pm
APPROVED:
07:...4gee
Chairman Scheller
ATTEST:
/�,��
Tracy Ac .oyd, City Cl
t
•
�_ , 2