12-14-2015 Minutes City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14, 2015
The Firefighters Retirement Plan Board of Trustees met in a regular meeting on Monday, December 14,
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 Paul Shamoun, Flonda League of Cities,were present via conference call
Absent Adam Watkins
Chairman Lent called the meeting to order at 1 02pm
OATH OF OFFICE
Deputy City Clerk Noak gave the Oath of Office to Judd Lent, Sy Holzman, and Jim Purvis
PUBLIC COMMENTS
Chairman Lent opened the public heanng There were no public comments Chairman Lent closed the
public heanng
APPROVAL OF MINUTES
Approval of the minutes of Regular Meeting on September 17, 2015
Board Member Purvis moved to approve the minutes, seconded by Board Member
Holzman The motion passed unanimously
UNFINISHED BUSINESS
Discussion of Plan Amendment regarding Purchase of Prior Credited Service
Finance Director VanZile presented the language of the proposed revisions to the Firefighters' Retirement
Plan The revisions include re-opening the pnor service purchase option, with the option available any
time dunng an eligible participants' employment with the City Payment options would be available,
however the three-month window to pay would remain in the Plan The installment payment option
would be subject to an interest rate based on the Plan's current rate of expected return, which is 7 5%
Finance Director VanZile will prepare the revisions to the Plan and send to the Board for their review
The revisions will then go before the City Council for approval
Board Member Purvis moved to approve the Plan revisions, seconded by Board Member
,-Holzman The motion passed unanimously
NEW BUSINESS
Approval of Florida Municipal Pension Trust Fund Investment Policy—Amended June 4, 2015
Paul Shamoun stated the policy amendment removed the Fixed Income Interest Rate Risk provision, which
was no longer required
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2015
Board Member Holzman moved to approve the revisions as presented, seconded by
Board Member Purvis The motion passed unanimously
Approval of 2016 Meeting Dates
The Board Members selected the following meeting dates
Thursday,March 17 at 1 pm
Fnday,June 17 at 9am
Tuesday, September 13 at 1pm
Thursday, December 15 at 1 pm
Discussion of Florida Municipal Pension Trust Fund Defined Benefit Plan Document—Amended October
1, 2015
Paul Shaumon reviewed the Plan amendments regarding"Share Plan" The amendments were in response
to legislative action and went into effect October 1, 2015
Board Member Purvis moved to approve the amendments, seconded by Board Member
Hozman The motion passed unanimously
Discussion of Fifth Member Board Appointment
Chairman Lent requested Finance Director VanZile send an email asking if anyone was interested in
serving as the Fifth Member Mr VanZile will send out an email
Finance Director VanZile asked Board Members Purvis and Holzman to see if they know of anyone
interested in serving
The Fifth Member selection will be on the March 17, 2016 meeting agenda
PLAN ADMINISTRATOR REPORT
Discussion of Firefighters Pension Plan Investment Performance Report for Quarter Ended September
30, 2015
Paul Shamoun reviewed the Performance Report for the quarter ending September 30,2015
ATTORNEY REPORT
No report
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2015
BILLS AND EXPENSES FOR APPROVAL
Approval of Plan Expenses for Period September 15, 2015—December 3, 2015
Finance Director VanZile presented the following expenses
Fire Pension Meeting 6/18/2015 -$425 00
Fire Pension Meeting 3/19/2015 -$425 00
Fire Pension Meeting 12/18/2014 -$325 00
Fire Pension Meeting 9/18/2014 -$325 00
Invoice#7050 -$525 00
Invoice#6950 -$525 00
Invoice#6770 -$500 00
Invoice#6544 -$400 00
Invoice#8345 -$575 00
9/30/2015 Quarterly Fees-$4,573 87
2015-2016 Annual Administration Fees-$1,000 00
Board Member Holzman moved to approve, seconded by Board Member Purvis The
motion passed unanimously
ADJOURN: With no further comments,this meeting was adjourned at 1 47pm
APPROVED:
firman Judd Lent
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ATTEST: ,L,
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Tracy Ackroyd Howe, City Clerk
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