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03-17-2016 City of Clermont MINUTES POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING March 17,2016 The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Thursday, March 17, 2016 in the Council Chambers at City Hall.Board Members present:. Michael Scheller, Scott Tufts,Jason Sayre, and Bob Peraza. 'Attorney Scott Christiansen, Jeremy Langley and Jeff Brumley; Florida League of Cities,were present. Staff members,present:Finance Director VanZile and.Deputy City Clerk Noak. Absent: Board Member Baker. OATH OF OFFICE Deputy City Clerk Noak administered the Oath of Office to Bob Peraza. CALL TO ORDER Chairman Scheller called the meeting to order at 3:05pm. PUBLIC COMMENTS Chairman Scheller opened the meeting for public comments. There were no public comments. Chairman Scheller closed the public comments. MINUTES Approval of minutes of the December 10, 2015 meeting. Board Member Sayre moved to approve; seconded by Board Member Peraza. The motion passed unanimously. UNFINISHED BUSINESS Board Member Tufts arrived to the meeting. Approval of Resolution No. 6—Prior Service Credit and Share Plan Amendments Attorney Christiansen questioned the necessity of a Resolution. Finance Director VanZile commented a resolution was historically used to recommend adoption by the City Council. The City Council will receive a subsequent ordinance for final adoption consideration. Attorney Christiansen expressed concern with the appearance of the Board requesting the change; however,the change was adopted during the Police Union negotiations with the City. Attorney Christiansen suggested changes to the document which included adding language to clarify prior service was limited to law enforcement and federal government service, adding the repayment methods to the operating rules, and changing the title to indicatethe adoption was a request to consider. He will provide suggested language to Finance Director VanZile. Chairman Scheller expressed concern of the Board requesting the City Council to adopt the changes.'The Board oversees the Plan;however,the Plan is negotiated between the Police Union and the City. 1 City of Clermont MINUTES POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING March 17,2016 Finance Director VanZile stated Attorney Christiansen's changes would be incorporated into the document. Finance Director VanZile presented the Share Plan amendments. Attorney Christiansen suggested adding language regarding the allocation of money. Jeff Brumley commented each participantwould receive an earnings report at the end of the year, and described how the shares are divided and credited: Attorney Christiansen commented the additional language would not be necessary to be added to the adoption agreement as the language was already in the plan document. Board Member Peraza moved to approve. The motion died for lack of a second. Board Member Tuftsmoved to accept Resolution 6 as amended; seconded by Chairman Scheller. The motion passed unanimously. NEW BUSINESS Approval of Accounting Report—FY 2015 Jeff Brumley stated approval of the Accounting Report was a new requirement. Board Member Sayre moved for approval; seconded by Board Member Tufts. The motion passed unanimously. PLANADMINISTRATOR REPORT Discussion of Police Officers Pension Plan Investment Performance Report for Quarter Ended December 31, 2015. Jeff Brumley presented the Police Officers Pension Plan Investment Performance Report for quarter ending December 31,2015. ATTORNEY REPORT Attorney Christiansen_commented the Florida Legislative sessions ended without changes made regarding Police Officers Retirement Plans. The Summary Plan description will need to be updated by the Florida League of Cities and distributed to the members following approval by the City Council. BILLS AND EXPENSES FOR APPROVAL Approval of Plan Expenses for period December 4, 2015—March 10, 2016 Finance Director VanZile presented the following expenses: 2 City of Clermont MINUTES POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING March 17,2016 Preparation of Board Certification $ 300.00 Invoice#27625 $ 988.05 Quarterly Fees $6,174.92 Invoice#27732 $ 236.40 Board Member Tufts moved for approval; seconded by Board Member Sayre. The motion passed unanimously. Approval of Member Distributions for period December 4, 2015—March 10, 2016 Finance Director VanZile presented the following distributions: Paul Lee $18,386.54 Gabriel White $ 4,072.16 Board Member Tufts moved for approval. The motion died for lack of a second. Board Member Peraza excused himself from the meeting due to a prior commitment. Attorney Christiansen questioned the distribution amount to Paul Lee. The payout to Mr. Lee was based on four years of service. Chairman Scheller stated Mr. Lee's separation date was incorrect. Board Member Tufts moved to table approval of the distribution to Paul Lee to the June 16,2016 meeting; seconded by Board Member Sayre. The motion passed unanimously. Board Member Tufts moved to approve the distribution to Gabriel White; seconded by Board Member Sayre. The motion passed unanimously. ADJOURN: With no further comments,this meeting was adjourned at 4:23pm. APPROVED: Chairman Sc eller ATTEST: Tracy c oyd Howe,City Clerk 3