Loading...
09-17-2015 Minutes City of Clermont MINUTES FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING September 17, 2015 The Firefighters Retirement Plan Board of Trustees met in a regular meeting on Thursday, September 17, 2015 in the Council Chambers at City Hall Firefighters' trustees present. Judd Lent, Sy Holzman, and Jim Purvis In addition: Finance Director Van Zile and Deputy City Clerk Noak were present Attorney Steve Cypen and Jeremy Button; Florida League of Cities,were present via conference call Board Members Silvestris and Watkins were absent Chairman Lent called the meeting to order at 10 38am PUBLIC COMMENTS Chairman Lent opened the public hearing There were no public comments Chairman Lent closed the public hearing. MINUTES Approval of the minutes of Regular Meeting on June 18, 2015 Chairman Lent noted the meeting date was corrected to reflect September 17,2015. Board Member Purvis moved to approve as amended; seconded by Board Member Holzman. The motion passed unanimously UNFINISHED BUSINESS Approval of Fifth Member Appointment Chairman Lent announced Adam Watkins was the only individual who expressed an interest in serving on the Board. Board Member Purvis moved to nominate Adam Watkins for Council approval as the Fifth Member, seconded by Board Member Holzman. The motion passed unanimously Finance Director VanZile will present Adam Watkins as the Fifth Member for City Council approval. Chairman Lent stated he had a list of twelve pension participants interested in considering the option to purchase prior years of service The interested participants would pay for the actuarial study, and the option would be re-opened for one time only. The interested participants were provided with an estimated cost of$250 to$375 for each individual's actuarial study,and they wished to move forward. Finance Director VanZile requested Attorney.Cypen present the Board with suggested language to amend Section E of the Adoption Agreement for a one-time purchase option at the next meeting Chairman Lent will provide Jeremy Button with the list of participants requesting the actuarial Board Member Purvis inquired when the participants would be required to make the purchase payment and if alternate payment arrangements could be made 1 City of Clermont MINUTES FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING September 17, 2015 Finance Director VanZile commented he would research flexible payment options and provide the information to the Board at the next meeting Plan participants will be contacted after the Board agrees on any language amendments and payment options to determine the number of participants interested in purchasing prior years of service Finance Director VanZile commented the Board should look into the stipulation of electing the purchase of prior years of service within three months of the hire date The Board agreed Mr. VanZile would research options regarding purchase deadlines Finance Director VanZile will contact the Police Pension Board to determine participant interest in the one-time purchase option NEW BUSINESS Approval of Florida Municipal Pension Trust Fund Investment Policy—Amended June 4, 2015 - Jeremy Button presented an amendment to the Investment Policy. The Board did not receive a version of the Policy indicating the changes Mr Button will provide a version outlining the changes for the Board's review and consideration at the December 10,2015 meeting. Approval of Pension Plan Administrative Expense Budget—FY 2016 Finance Director VanZile reviewed the budget for Fiscal Year 2016 Board Member Purvis moved to approve the Fiscal Year 2016 budget; seconded by Board Member Holzman The motion passed unanimously PLAN ADMINISTRATOR REPORT n Discussion of Firefighters Pension Plan Investment Performance Report for Quarter Ended June 30, 2015 Jeremy Button reviewed the Performance Report for the quarter ending June 30,2015 ATTORNEY REPORT Attorney Cypen mentioned he had not received payment for his attorney fees. Finance Director VanZile requested an invoice be•sent to his attention. BILLS AND EXPENSES FOR APPROVAL Approval of PlanExpenses for Period June 12, 2015—September 14, 2015 Finance Director VanZile provided the following expenses Quarterly Fees- $4,704 52 Actuarial Confirmation of use of State monies- $525.00 Reimburse City for Conference expenses -$2,313 00 2 r City of Clermont MINUTES FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING September 17, 2015 Board Member Holzman moved to approve the Plan Expenses, seconded by Board Member Purvis. The motion passed unanimously. ADJOURN: With no further comments,this meeting was adjourned at 11 41 am APPROVED: irman Judd Lent ATTES Tracy Ackroyd,City Clerk 3