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
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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
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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
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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
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